High-priced car insurance can bottom out your savings and make it tough to pay other bills. With so many companies and agents to choose from, it can be challenging to pick the right car insurance provider.
You need to check car insurance prices as often as possible since prices are usually higher with each renewal. Despite the fact that you may have had the best rate on your last policy other companies may now be cheaper. Forget anything you know (or think you know) about car insurance because you’re about to learn the best methods to buy cheaper car insurance.
The most recommended method to compare insurance rates from multiple companies is to know the fact most insurance companies allow for online access to give free rates quotes. All consumers are required to do is spend a couple of minutes providing details including your general credit rating, any included safety features, your occupation, and the ages of drivers. That rating information is instantly provided to insurance companies and they respond with quotes immediately.
To start a rate quote now, click here and find out if you can get cheaper insurance.
Learn how to lower your car insurance premiums
Part of the car insurance buying process is learning the rating factors that aid in calculating your car insurance rates. If you know what impacts premium levels, this enables informed choices that could help you find lower car insurance prices. Multiple criteria are part of the calculation when premium rates are determined. Some of the criteria are obvious like a motor vehicle report, but other factors are not as apparent such as your credit history and annual miles driven.
The list below includes most of the major factors companies use to determine your rates.
- Filing policy claims can cost you – If you file claims often, you can pretty much guarantee either policy cancellation or increased premiums. Companies in New York provide better rates to people who are not frequent claim filers. Auto insurance is intended for major claims that would cause financial hardship.
- Safer vehicles save money – Vehicles with good safety scores get lower rates. Vehicles engineered for safety protect occupants better and fewer serious injuries means less money paid by your insurance company and thus lower rates. If your vehicle scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it may cost less to insure.
- Save money by raising deductibles – Comp and collision deductibles are the amount of money you are willing to pay out-of-pocket if you file a covered claim. Physical damage protection, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some examples of covered claims are rearending another vehicle, hail damage, and damage caused by road hazards. The more money you choose to pay out-of-pocket, the less money you will pay for car insurance.
- Do you really need roadside assistance? – Insurance companies have many extra add-on coverages that may not really be needed on your car insurance policy. Insurance for things like roadside assistance, towing, and additional equipment coverage are some examples. These may sound like a good investment when discussing your needs, but if you have no use for them consider taking them off your policy.
- With age comes responsibility – Older drivers are viewed as being more responsible, cause fewer claims and accidents , and usually have better credit.Young drivers tend to get distracted easily with other occupants in the car therefore car insurance rates are much higher.
- Better drivers pay less – Just one driving citation can increase the cost of insurance forty percent or more. Attentive drivers have lower premiums than people who have multiple driving citations. Drivers who have gotten serious citations like reckless driving, hit and run or driving under the influence may find they need to file a SR-22 to the state department of motor vehicles in order to legally drive.
You may qualify for discounts
The cost of insuring your cars can be expensive, but you might find some hidden discounts that many consumers don’t even know exist. Most are applied at the time of purchase, but occassionally some discounts must be requested specifically prior to getting the savings.
- Bundle and Save – If you can bundle your auto and homeowners insurance with the same insurance company you could save at least 10% off all policies.
- Discounts for Cautious Drivers – Drivers without accidents could pay up to 40% less as compared to drivers with claims.
- Discount for New Cars – Buying a new car model can be considerably cheaper since newer vehicles are generally safer.
- Military Discounts – Having a family member in the military could qualify you for better premium rates.
- Driver’s Education for Students – Require your teen driver to sucessfully take a drivers education course if it’s offered in school.
- Include Life Insurance and Save – Some insurance companies give a small discount if you purchase life insurance.
- Seat Belts Save more than Lives – Drivers who require all occupants to fasten their seat belts can save 10% or more on medical payment and PIP coverage.
Discounts lower rates, but many deductions do not apply to your bottom line cost. The majority will only reduce individual premiums such as comp or med pay. Just because it seems like it’s possible to get free car insurance, it’s just not the way it works.
A few of the larger companies and some of the premium reductions they offer can be found below.
- State Farm offers discounts for good student, defensive driving training, safe vehicle, passive restraint, multiple autos, anti-theft, and good driver.
- Geico may offer discounts for good student, driver training, federal employee, emergency military deployment, and five-year accident-free.
- Progressive has discounts for multi-policy, good student, online signing, online quote discount, continuous coverage, and homeowner.
- 21st Century may include discounts for driver training, good student, anti-lock brakes, defensive driver, theft prevention, early bird, and teen driver.
- American Family has savings for early bird, bundled insurance, multi-vehicle, mySafetyValet, good driver, TimeAway discount, and Steer into Savings.
- The Hartford discounts include driver training, vehicle fuel type, good student, defensive driver, and air bag.
- AAA may have discounts that include education and occupation, anti-theft, multi-car, pay-in-full, AAA membership discount, and good driver.
Double check with every company how you can save money. Some discounts may not be offered in your state. If you would like to view companies offering car insurance discounts in New York, click this link.
There’s no such thing as the perfect car insurance policy
When it comes to buying the right insurance coverage, there isn’t really a best way to insure your cars. Every insured’s situation is different and your policy should reflect that. For instance, these questions could help you determine if your insurance needs could use an agent’s help.
- Do I need higher deductibles?
- Who is covered when they drive my vehicle?
- Can my teen driver be rated on a liability-only vehicle?
- What are the best liability limits?
- Can I get a multi-policy discount for packaging my home and auto coverage?
- At what point should I drop full coverage?
- Is my dog or cat covered if injured in an accident?
If you can’t answer these questions but you know they apply to you, you may need to chat with a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area.
Affordable car insurance is out there
More affordable car insurance can be found online in addition to many Port Chester insurance agents, so you need to with both to have the best rate selection. Some insurance companies do not offer online quoting and most of the time these smaller companies only sell coverage through local independent agencies.
We covered many ways to shop for car insurance online. The most important thing to understand is the more times you quote, the more likely it is that you will get a better rate. Drivers may discover the best auto insurance rates are with a small local company. Some small companies may have significantly lower premium rates on certain market segments compared to the large companies like State Farm or Progressive.
More information about car insurance
Even more information is located at the New York Department of Financial Services website. New York drivers can find a variety of consumer forms, read state legal mandates and laws, find disaster information, and read consumer alerts.