As of January 2016, all insurers in Ontario are to offer a discount to customers with snow tires (winter tires). There was no minimum discount stipulated, but it is generally between 2% and 5%.
With the winter season just around the corner, all drivers should prepare for the snow. Here are a few things you should keep in mind regarding the insurance discount
- Getting this discount. You should call your insurer and let them know you have winter tires, the discount is not automatically applied.
- Size of discount. The level of the discount is up to the insurer and typically varies between 2% and 5%. Some insurers apply the discount on renewal, while others apply in mid-term.
- Proof. Some insurers will take your word for it, others will require proof, which could include a purchase receipt, an installation receipt or even a picture of the car with tires on.
- Mandatory installation periods. Some insurers require you to have the tires on between specific dates. Make sure you follow those rules if you are taking advantage of the discount.
- Type of tire. The tires do not have to be new, but your insurer may have a maximum age or tread depth. You do need to all four tires be approved winter tires.
Safety should be the reason to get winter tires, not the discount. After all, the average driver may only save $100 per year so it won’t cover the cost of the tires. However, if you are getting winter tires, you might as well get the discount!
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