In Nova Scotia, Canada, drivers may soon be benefitting from reduced premiums for putting on their ‘snows’.
The provincial government of Nova Scotia in Canada is now looking into new legislation similar to that which is already in place in Ontario, which would require that auto insurance companies offer a discount to drivers who purchase and install winter tires on their cars, SUVS, pickups and vans.
At the moment, the regulation has not yet been passed, but it is something that is being seriously considered.
In Ontario, the auto insurance discount legislation for people who use winter tires will become effective on January 1, 2016. As of yet, the details of the discount have not been clearly laid out. At the moment, there are already some insurance companies that are offering these winter tire discounts to their customers within the province. Typically, the savings is around 5 percent. That province is hoping that this will help to boost insurer competition, which could help to raise the amount of the discount customers are being offered. That could also lead to a reduction in premiums for customers, overall.
As of yet in Nova Scotia, it isn’t completely evident as to whether or not those auto insurance discounts are present.
According to the Insurance Bureau of Canada’s vice president Atlantic, Amanda Dean, “There may very well be, I’m not currently aware,” of whether or not there are winter tire discounts on insurance premiums in Nova Scotia.
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Winter tires have been acknowledged as an important safety component for vehicles being used in cold, snowy, and icy weather. They considerably improve performance over all-season tires which are more appropriate during the warmer months. The primary reason is that winter tires are made out of a different compound that allows the rubber to remain softer – therefore improving grip and traction – when the temperature drops below 45 degrees Fahrenheit. The treads on those tires are also better.
Auto insurance discounts make sense for vehicles that have winter tires, as research has revealed that vehicles that have them installed in the winter are able to stop 40 percent faster than those with all-season tires.