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Car insurance is a rule for all Canadian drivers, even when you are only starting. But, of course, the younger you are, the more you will have to pay.

Students, especially younger drivers, often pay more for insurance than other age groups. Insurance companies calculate their premiums depending on the individual and their lifestyle. They usually take driving experience and susceptibility to accidents into account.

Based on the Canadian Association of Chiefs of Police statistics, 40% of speeding drivers involved in fatal accidents were 16-24 years old.

Most students are young, and companies assume they are riskier drivers. Due to this, they have to pay higher annual premiums, which are already pretty high. In 2020, British Columbia topped the charts at $1,832 a year on average.

But most students also do not have the means to pay such high fees by themselves. So if you are a younger driver, here are a few tips to save on your auto insurance.

Get Listed On Your Parents’ Insurance

The easiest way to save on auto insurance is to have your parents add you to their policy as an occasional driver. Of course, it would increase your parents’ premium, but it would be cheaper than getting your own.

Getting an insurance policy right when you start driving could hike up your rates. Insurance companies would take a look at your age and driving history, and if you have none, you would be more of a risk.

Of course, this is only applicable when you share a car with your parents and if you only drive occasionally. If you have a vehicle, you would have to apply for a separate policy. If you are a new driver, put off getting your car for a while until you get some decent experience.

Lying to your insurers to get a discount is not a good idea and could harm you in the long run.

Bundle Up Your Insurance Policies

If you moved out for school and have a car with you, it is best to find other means of saving on your insurance premiums.

One way is by bundling your auto insurance with other types of insurance you might want to get. Most companies usually offer different types of insurance.

You could get a discount by bundling your renter’s or home insurance with your auto insurance. You will not only get more coverage, but you will also pay less for them. That is a pretty smart move.

Complete a Driving Course

One way to offset the inexperience brought by your age is to get some formal driving education. Some companies will give discounts once you complete at least one driving course. You can check with your province’s list of accredited driving schools for this.

It is best to go to driving school before taking your licensing tests. That way, you immediately have a certificate to present when you apply for car insurance.

Another popular course, even for more experienced drivers, is one on defensive driving. It aims to lessen road accidents and injuries, making our roads much safer. This course can help your driving record and your quality of life in general.

Ask About Discounts

The easiest way to get discounts is to ask for them. Many insurance companies offer different discounts to attract new clients. Aside from the ones we mentioned above, here are a few other discounts you can ask your insurer about:

• Winter Tire Discount. In 2016, Ontario required all insurers to give a 5% discount to all drivers who install winter tires. Some provinces have followed suit, but it varies. You can check out your province’s policy or ask your insurance company about it.

• Telematics Discount. Telematics or usage-based insurance calculates your rates based on your driving habits. It tracks you through a device in your car or a smartphone app. So better driving habits can earn you some discounts.

• Good Student Discount. Some car insurance companies give discounts to students who maintain good grades.

• Credit Score Discount. If you consent to it, your car insurance company can give you a discount based on your credit score.

Get an Insurance Broker

As a new driver, it can be pretty daunting to face the world of car insurance, but you do not have to go at it alone. Instead, you can ask your friends and family for valuable advice or consult online forums.

But for a more professional opinion, insurance brokers are your best bet. BrokerLink is one of them.

They can scour the market and give you the best deals since they have years of industry experience. You can rest easy with them working with you. You have the assurance that you are getting optimal services for the best rates.