Canadian Auto Insurance

Summertime is here, the winter but a bad memory! One of the features of summertime in Canada is the sight of convertibles once again becoming commonplace. Very few car owners can say they haven’t daydreamed at one point or another of cruising down the highway, wind whipping in their hair and the horizon stretching in front of them!

However, for the pragmatists amongst us, issues such as practicality and car insurance premiums invariably come into any purchasing decision. Do convertibles or soft tops cost more to insure? The perception is that they do, let’s see if this holds true.

First off, how are insurance quotes for a particular model calculated in the first instance? All insurance quotes are based on empirical evidence of claims made for that type of vehicle, rather than the characteristics of the vehicle itself!

So the same holds for soft tops, whether or not they are claimed on more than their hardtop counterparts is what decides whether their premiums are higher or not.

Insurance comparison website Kanetix, undertook some research on this very issue, and the results they found surprised many. Using their free online car insurance comparison tool, they came to the following conclusions. For the following models a price comparison was completed.

·         Audi A4 Cabriolet
·         Pontiac G6 GT Convertible
·         Toyota Solara SLE Convertible
·         MINI Cooper Convertible
·         Ford Mustang Convertible
For each vehicle, the number of quotes provided ranged from 9 to 12 from the various insurers available through kanetix; and in each case the average quoted price was less for the convertibles than their non-convertible version.

If this wasn’t suprising enough in itself, it was actually found that buying a convertible may actually help you save in certain cases! Differences of almost 2 per cent less to up to 10 per cent less than their ‘hard-top’ counterpart were observed. An expensive myth to be sure!

As to why the soft tops cost less to insure, we again return to the issue of less claims made. Perhaps the fact they are only driven during the summer months and avoid the winter driving conditions make for less claims, in any case it is a myth and an expensive one too!

So if you always dreamed of burning down Highway 66 in a soft top, get multiple quotes from competing suppliers for car insurance via Kanetix, and see whether or not buying a convertible will necessarily hit your pockets! And even if the softop doesn’t work out, be sure to compare quotes on your current vehicle, and see if you can find the best car insurance for your personalized needs!

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