Are you a victim of an underperforming, overpriced auto insurance policy? Trust us when we tell you there are lots of people in the same boat.
Big-name insurance companies like GEICO and Progressive continually hit you with fancy advertisements and it is challenging if not impossible to ignore the promise of big savings and do the work needed to find the best deal.
Discounts can save BIG
Auto insurance companies do not advertise all available discounts very clearly, so we break down some of the more common and also the lesser-known discounts you could be receiving.
- Auto/Life Discount – Select insurance companies reward you with lower rates if you buy a life insurance policy as well.
- Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes can avoid accidents and will save you 10% or more.
- Driver’s Ed – Make teen driver coverage more affordable by requiring them to take driver’s ed class if it’s offered in school.
- Good Student Discount – Getting good grades can get you a discount of up to 25%. Earning this discount can benefit you until age 25.
- Paperless Signup – A few companies will discount your bill up to fifty bucks for buying a policy and signing up digitally online.
- Auto/Home Discount – When you have multiple policies with one insurance company you may save 10% to 20% off each policy.
- Seat Belts Save – Drivers who require all occupants to use their safety belts could save 15% off the personal injury premium cost.
Keep in mind that most credits do not apply the the whole policy. Most cut individual premiums such as liability and collision coverage. Just because you may think all those discounts means the company will pay you, companies don’t profit that way.
To see a list of insurance companies with the best auto insurance discounts in Yonkers, follow this link.
Decisions you make can impact your rates
An important part of buying insurance is that you know the different types of things that go into determining the price you pay for auto insurance. Knowing what determines base rates empowers consumers to make smart changes that can help you get better auto insurance rates.
- Do you know you’re credit rating? – A driver’s credit rating is a large factor in determining what you pay for auto insurance. Drivers who have good credit tend to be better drivers and file fewer claims than those with poor credit. If your credit can use some improvement, you could potentially save money when insuring your by improving your rating.
- Theft deterrents lower rates – Driving a car with anti-theft technology or alarm system can help lower your rates. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder auto theft.
- Don’t let your coverage lapse – Having an insurance coverage lapse will be a sure-fire way to pay more for auto insurance. And not only will insurance be more expensive, but not being able to provide proof of insurance might get you a hefty fine and possibly a revoked license.
- Occupation reflects on rates – Did you know your occupation can influence how much you pay for auto insurance? Occupations such as doctors, business owners and stock brokers are shown to have the highest rates because of high stress and lengthy work days. On the other hand, occupations like pilots, students and performers pay the least.
- Don’t get talked into coverage you don’t need – There are many extra bells and whistles you can purchase on your auto insurance policy. Insurance for personal injury protection, better glass coverage and additional equipment coverage are examples of these. These coverages may sound good when talking to your agent, but now you might not need them so eliminate the coverages to reduce your premium.
Will just any policy work for me?
When buying adequate coverage for your personal vehicles, there really is no single plan that fits everyone. Each situation is unique and a cookie cutter policy won’t apply. For example, these questions may help highlight if you could use an agent’s help.
- Is borrowed equipment or tools covered if stolen or damaged?
- What can I do if my company denied a claim?
- Can I afford to pay high deductible claims out of pocket?
- Does medical payments coverage apply to all occupants?
- Should I drop comprehensive coverage on older vehicles?
- Will I lose any money if I cancel my policy before it expires?
- Can I afford low physical damage deductibles?
- What if I don’t agree with a claim settlement offer?
- What is the minimum liability in New York?
- How high should my medical payments coverage be?
If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with an agent. If you don’t have a local agent, simply complete this short form or click here for a list of auto insurance companies in your area.
For more information
More detailed New York auto insurance information is available at the New York Department of Financial Services website. New York drivers can get help finding coverage, find a variety of consumer forms, and file complaints about a company.
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Quote often and quote early
We covered many ideas to lower your auto insurance rates. The key concept to understand is the more rate quotes you have, the better likelihood of reducing your rate. You may be surprised to find that the lowest premiums are with some of the smallest insurance companies. Some small companies may only write in your state and offer lower rates as compared to the big name companies such as Progressive and GEICO.
Cost effective auto insurance is available on the web in addition to many Yonkers insurance agents, so you should compare both to have the best chance of lowering rates. Some companies do not provide the ability to get a quote online and most of the time these small insurance companies sell through independent agents.