Depending on where you live, the answer is yes.
You’re finally on the road in your revamped vintage Bronco, but if your credit is poor, you could be leaking money as you go.
Ordinarily, your credit score is used to show lenders that you can be trusted to make your monthly payments. However, depending on which province you live in, your credit score can also affect your monthly car insurance premium.
Insurance companies argue that people who are responsible with their credit are more likely to be responsible with their cars, keeping them in good repair and following the rules of the road.
Quebec and Prince Edward Island: While not common, there are no rules forbidding the practice.
No matter where you call home, the best way to save on car insurance is to shop around before you settle on the right policy for your needs and budget. A site like Rates.ca will do all the price comparisons for you and present you with the highest-quality auto insurance at the best rate available to you.
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