Auto Insurance Q & A – Can You Get Cheaper Insurance by Going to a Driving School?
Being a young driver is expensive when it comes to auto insurance, as we have talked about here.
If you’re new to driving and you have your own car (or you’re thinking about getting one), you’re most likely looking for ways to get cheaper insurance.
One very common question we get is whether there is a discount on insurance available for those who attend a driving school.
The short answer is YES!
Let’s get into some of the details of how driver’s education works with lowering auto insurance in Ontario…
~ As we’ve discussed, young drivers are considered high risk because of their inexperience on the road. Successfully completing a driving course with high grades helps to mitigate this risk in the eyes of the insurer. This translates to lower rates.
~ Choose a school recognized by the Ministry of Transportation Ontario (MTO). The MTO sets standards for these schools and only certificates from these organizations are taken into consideration by insurance companies when offering discounts or lower rates. You must provide this certificate to the insurer when requesting the discount. Wondering which schools are MTO approved or if there is one in your area? Check out the MTO site for the full list of schools, organized by cities in Ontario.
~ So how much can you save? As with all types of insurance coverage, it depends on the provider. But generally speaking, you can expect savings of 5% – 15% on auto insurance rates from most insurance companies. If you’re unsure about your plan, or if you’re shopping around for coverage, be sure to ask about this discount!
~ How long will this discount last? Typically 3 years after receiving the certificate. But again, confirm this with your provider or broker to be sure.
Another bonus of attending driving school – you can get your G2 licence faster – in 8 months versus 12 months if you don’t take a driver’s ed course. (Click here to learn more about the G2 licence and what it means in Ontario).
Image source: FreeDigitalPhotos.net / David Castillo Dominici