As an insurance shopper, you should check with your insurance company, agent, or broker about possible discounts that may be applicable to you, such as:

Driver Training Discount: Most companies offer a discount or a reduced premium for new drivers who have completed a recognized driver-training program.

Group Discount or Group Rates: If you belong to an eligible group, check to see if it offers group rates. An eligible group may include employees of the same employer, members of a union or professional or occupational association, or certain non-profit associations.

Multi-Policy Discount: Some insurance companies offer a discount if you purchase your vehicle and home insurance from the same company. This discount can range from 3 to 15 per cent.

Multi-Vehicle Discount: You may be able to get a discount if you insure more than one vehicle with the same insurance company. The multi-vehicle discount can range from 5 to 15 per cent.

Renewal Discount: Your company may offer you a renewal discount if you have been with the company for a certain number of years without an at-fault accident. The discount can range from 5 to 20 per cent.

Retiree Discount: If you are retired and meet certain conditions, you may be able to get a retiree discount on your premium. The retiree discount can range from 5 to 15 per cent off your premium for Accident Benefits coverage.

Winter Tires Discount: Some insurance companies offer a discount if you install winter tires on your vehicle during the winter months.

Other Discounts: Your premium may be reduced further if your yearly mileage is low or if you have an alarm in your vehicle. Also note, drivers who progress through the graduated licensing system should receive a rate reduction of 10 per cent on all coverages, provided that the driver has had no chargeable convictions or at-fault accidents when entering into Level Two (Class G2 licence). This reduction is applicable for 1 year. Similarly, a driver should receive a 10 per cent rate reduction on all coverages when the driver becomes fully licensed (Class G license), provided that the driver has had no chargeable convictions or at-fault accidents during Level Two. This reduction is also applicable for one year.

Each company applies discounts differently. Check with your broker, agent or insurance company to find out what discounts are available to you.

Source: Financial Services Commission of Ontario Website