What to do before renewing your auto insurance

Every year, one thing's for certain. If you own a car, you’ll have to renew your auto insurance.

For many Canadian drivers, they’ll shop around once when they first get insurance, then just let their insurance renew automatically without thinking much about it. But if you’re one of the many people who aren’t going into the office as often anymore, skipping the grocery aisles in favour of online ordering, and are driving less than pre-2020. In general, you should really know that less driving can lead to savings on your auto insurance premiums.

To find out if your new driving habits could help lower your premiums, it all starts with one thing: knowing when your policy renews each year.

The first thing you need to do is to know your insurance renewal date. Typically, insurance providers automatically renew your policy.

Now that you know how the renewal timeline works, the next step is to find your insurance renewal date, which is conveniently listed on your pink auto insurance slip.

Ideally, you should check with your insurer 60 days before your renewal date to see if there are opportunities to save or if your driving habits may have changed and you are eligible for a lower premium. Insurers will generally honour their quotes for 60 days, giving you plenty of time to shop around and see if you can get a better price for the same coverage with a different insurance provider. Some insurers will let you share your renewal date with them ahead of time, then remind you 60 days ahead of your renewal date to give you a complimentary review of your policy with an updated quote - regardless of if you’re a CAA Member or not.

When you chat with your licensed CAA Insurance¹ Agent, or with other insurance providers, discuss what’s changed in your driving habits since you last renewed your policy. Whether you’re working from home, walking or biking more instead of driving, or only driving on weekends, that’s all important information that can help you save.

By not checking your renewal date and shopping around for a better insurance policy, you lose the ability to update your policy to give you the coverage you need - and you could be missing out on a better rate.

In addition to lower premiums, look for the extras that might be included in your policy. Things like savings for having a long-standing safe driving record or using winter tires, or discounts for bundling multiple insurance policies together. And if you really aren’t driving much anymore, you might be better served with CAA MyPace™, Canada’s only pay-as-you-go insurance program. Tailored to help people who drive less than 12,000km per year save up to 50% compared to traditional auto insurance policies.

CAA Insurance also offers savings up to 20%² for Members, and up to 22.5% when bundling CAA Auto and Home Insurance. Plus, they have a Forgive and Forget^® plan that protects your driving record and rate after your first at-fault accident or first minor conviction. And with CAA Connect^®, you can get a discount of up to 15% based on your personal driving habits³.

To make sure you’re getting the best rate for the right coverage, get a complimentary review of your policy today from a licensed CAA Insurance Agent. Call 1-888-900-1251 or visit caaneo.ca to learn more about the different ways you can save.

Legal:

¹ Auto and Property Insurance are underwritten by CAA Insurance Company. Certain conditions, limitations and underwriting guidelines apply.

² To qualify for the discount, you must be a current CAA Member in good standing (CAA Membership dues paid in full by membership expiry date). Everyday Members maximum savings on auto insurance is 5%.

³ Maximum discount while enrolled in the CAA Connect program is 15% on renewal after one year.

^® Forgive and Forget is a trademark owned by CAA Insurance Company.

^®/™ CAA trademarks are owned by, and use is authorized by, the Canadian Automobile Association.