Will Winter Tires Save You money on Car Insurance?
Our Maritime Fall has been warmer than usual, but sadly colder weather has arrived. It also means adjusting your driving habits for wintery and snowy conditions. For many drivers, you are likely making plans to get your winter tires on your vehicle. As insurance advisors, we often get this question: “will winter tires save me money on car insurance?” Here’s what you need to know about winter tires.
Is getting winter tires mandatory?
In Nova Scotia, New Brunswick and most other provinces, winter tires are not mandatory but highly recommended. Since 2008, Quebec has been the only province in Canada where snow tires are mandatory. This requirement only applies to motor vehicles registered in Québec, including rental cars. British Columbia also requires winter tires on some highways in mountainous areas.
How do winter tires protect you?
Although winter tires aren’t mandatory, the Tire and Rubber Association of Canada’s 2021 Canadian Consumer Winter Tire Study found that 79% of drivers believe winter tires have prevented them from being involved in a “potentially hazardous driving situation.”
Winter tires are a smart way to mitigate the risks of driving in hazardous conditions and improve control over your vehicle in poor road conditions. All-season tires stiffen and lose elasticity when temperatures dip below seven (7) degrees Celsius. Equipped with rubber that provides optimal traction and a deeper tread pattern with more slots to grip harder, winter tires are designed for slippery and icy roads. Winter tires also improve traction required to accelerate or stop and shorten stopping distances.
Do winter tires save you money on car insurance?
By installing winter tires, you reduce your risk of an accident. This is the main incentive for putting winter tires on your vehicles. Whether you get an insurance discount depends on your car insurance provider and your province. While Ontario has mandated insurance discounts for winter tires, this is not the case in most provinces.
However, insurance discounts for winter tires are a growing trend, with some insurance providers offering discounts to drivers in Nova Scotia and New Brunswick. If this is a discount you would like to take advantage of, you should ask your insurance advisor or broker about your options.
From a purely financial perspective, the amount you can save on insurance premiums is unlikely to balance the cost of buying and installing snow tires. That said, it is hard to put a price on the added safety that winter tires provide for you and your family.
Our Bauld Insurance Advisors can review your car insurance policy to ensure you are well protected. Visit our web page for more information and frequently asked questions on Car and Auto Insurance or to request a Car Insurance Quote.
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