Is Your New York New York Car Insurance Breaking the Bank?

Are you tired of being strong-armed each month for car insurance? You’re in the same situation as many other New York consumers.

Drivers have multiple auto insurance companies to pick from, and even though it’s nice to have a selection, it can be more difficult to compare company pricing.

Cut your premium with discounts

Properly insuring your vehicles can get expensive, but you can get discounts to cut the cost considerably. A few discounts will automatically apply when you complete an application, but some may not be applied and must be requested specifically before being credited.

  • Paperless Signup – A few companies will give a small break for buying your policy online.
  • Senior Discount – Older drivers can possibly qualify for a discount up to 10%.
  • Low Mileage – Fewer annual miles could qualify for discounted rates on garaged vehicles.
  • Discount for Swiching Early – A few companies offer discounts for signing up before your current expiration date. The savings is around 10%.
  • College Student – Kids in college who attend school more than 100 miles from home and don’t have a car can receive lower rates.
  • Multiple Cars – Having all your vehicles on the same car insurance policy can get a discount on all vehicles.

Consumers should know that most discounts do not apply to the overall cost of the policy. Some only reduce individual premiums such as medical payments or collision. So even though they make it sound like all the discounts add up to a free policy, you’re out of luck. Any amount of discount will bring down the cost of coverage.

For a list of insurance companies with the best car insurance discounts in New York, follow this link.

Buying car insurance locally

Some people just want to buy from a licensed agent and that is OK! One of the great benefits of comparing rates online is the fact that you can find lower rates and still choose a local agent. Supporting local agencies is important especially in New York.

Once you complete this form (opens in new window), the coverage information gets sent to companies in New York who will battle to get your business. There is no reason to visit any agencies because quoted prices will be sent straight to your inbox. Now that’s easy! You’ll get the best rates and work with a local agent.

If you prefer to contact a specific insurance agent in New York, please go to this site.

Selecting an provider shouldn’t rely on just the premium amount. Agents should be asked these questions:

  • Can they provide you with a list of referrals?
  • Are there any discounts that you might be missing?
  • If you are a high risk driver, do they have special markets for your coverage?
  • How long has their agency been open in New York?
  • What insurance companies do they work with?

Once you have reasonable responses to all your questions in addition to an acceptable price estimate, most likely you have located an insurance company that can insure your vehicles.

Advertising myths

Progressive, GEICO, Allstate and State Farm constantly bombard you with ads on television and other media. All the companies say the same thing of big savings if you switch your policy. How do they all claim to save you money? This is how they do it.

All the different companies have a preferred profile for the driver that is profitable for them. An example of a preferred risk might be profiled as between the ages of 30 and 50, a clean driving record, and drives less than 10,000 miles a year. A customer getting a price quote who matches those parameters will get very good rates and is almost guaranteed to cut their rates substantially.

Consumers who do not match these standards will be charged higher rates and this can result in the customer not buying. Company advertisements say “customers that switch” not “everybody who quotes” save that kind of money. That is how insurance companies can make those claims.

That is why you should get a wide range of price quotes. It is impossible to predict the company that will give you the biggest savings.

More information about car insurance

More information is located on the website for the New York Department of Financial Services found here. Consumers can discover disciplinary actions, report car insurance fraud, find out which companies have the most complaints, and file complaints about a company.

More comparisons equals lower rates

As you restructure your insurance plan, don’t be tempted to buy less coverage just to save a little money. There are a lot of situations where an insured cut comprehensive coverage or liability limits and discovered at claim time that it was a big error on their part. Your aim should be to purchase plenty of coverage for the lowest price while still protecting your assets.

We covered a lot of techniques to reduce car insurance prices online. The key thing to remember is the more companies you get rates for, the better likelihood of reducing your rate. Drivers may discover the lowest rates come from an unexpected company. Smaller companies may cover specific market segments cheaper than the large multi-state companies such as Progressive and GEICO.