With spring around the corner (hopefully!), many Mississaugans start thinking of celebrating this eagerly awaited warmer season with buying something brand new…like a car perhaps?  A word to the wise though, when it comes to buying insurance for that new vehicle, summer/early fall may actually be better seasons to get the best deal.

According to LowestRates.ca’s two-year analysis, car insurance rates quoted in Ontario were at their lowest between the months of July and October—with August being the month to get the best deal—rates dropped by as much as 6% from the annual average in August 2017. During the colder months —January to April—the study noted a spike in the average rate, most notably in February, by more than 6%.

Of course, many factors affect auto insurance rates—the car’s make, age, fuel type, stats on theft, and stats on the driver (place of residence, driving history, age, and gender).  But LowestRates.ca’s data collected over the last two years, do show that seasons also have an effect on rates.

One explanation/speculation is that the summer months are typically the months when car manufacturers release new vehicles as well, so insurance companies experience a high volume of new business and strive to compete, while the winter months are slow sales-wise.

This may explain why premiums are most expensive in February, with the average quote being 6.1% more expensive than the average for the year.  “No-one wants to test drive a car in the snow. It’s stressful. It isn’t fun. You don’t want to be driving your new car when there is all this salt on the ground,” said LowestRates.ca managing editor John Shmuel in an interview CTV News. “[Sales] correlates with the seasons.”

What else can you as a driver in Mississauga do to lower your car insurance expense, in addition to purchasing a policy in the summer?  Actually, lots.  According to insurancehotline.com, shop around and compare rates, take an accredited driving course, combine insurance policies (car and home being the obvious option, but also adding other insurable items as snowmobiles, RVs, motorcycles or tenant insurance), change your tires seasonally, and pay your premiums all at once rather than in monthly installments.

Oh, and last— but by no means least, drive carefully on our increasingly bustling, busy Mississauga roads, and maintain a clean driving record!  That may just be an all-season guarantee of favourable insurance rates.