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[Auto Insurance Discounts – Are you eligible?] Several factors or rating variables influence your premium, including age, marital status, driving record, vehicle make and model, repair cost, theft rates, annual mileage, impact of natural disasters, as well as the Insurer’s loss ratio** for that year. In Canada, discounts offered by insurers in various provinces can lower your premiums. Discounts commonly seen in Alberta include: • Bundling home and auto policies • Multi-vehicle discounts • Loyalty or renewal discounts • Hybrid and electric vehicle discounts • Convictions/claims-free discounts • Credits for new drivers who have completed a recognized driver training course • Discounts/ lower rates for drivers with a good credit score Additionally, some discounts are more insurer-specific, such as: • UBI (Usage-based Insurance), which offers discounts based on your driving habits, rewarding safe and responsible driving. • Post-secondary and out-of-town student discounts • Applicants over 50 years old • Recognized Autonomous Emergency Braking System installed • Discounts for certified professionals like accountants, architects, dentists, engineers, firefighters, employees of financial institutions, staff at academic centres, lawyers, police officers, civil servants, and others Some discount programs have phased out over the years due to the administrative burden of proving eligibility and the overall costs versus benefits. For example, snow tire discounts, anti-theft device installations, VIN etching, and overnight parking locations are now rarely offered here. <<Tips for Lower Auto Premiums>> • Maintain a clean driving record and a good credit score. • Some insurers might offer fewer discounts but still be more affordable than others based on your circumstances because their rates for your demographic group are lower in that year. Therefore, it’s essential to review your options with your insurance broker each year before renewal to ensure you are getting the best price. *Discounts discussed in this article refer to private passenger vehicles only. #CalgaryInsurance #InsuranceTips #EdmontonInsurance #Autoinsurance #Homeinsurance #Commercialinsurance #Freequotation #車保 #房屋保险 #家居保險