Affordable Auto Insurance in New York
Car insurance rates in New York are some of the highest in the country. For those looking to purchase an insurance policy for a new car or renew an existing policy, it’s important to know there are strategies for lowering your premium. The more you understand about what impacts your rate, the better the opportunity to reduce yours and find affordable auto insurance in New York.
Be Careful: Reducing Coverage or Limits Isn’t Best
One of the ways some companies offer less expensive insurance policies is by providing less coverage. That means you may end up paying more out-of-pocket if you need to make a claim later. Which obviously means, this could end up being a less affordable option in the long run.
You can also reduce your premium by selecting higher deductibles. For example, if your policy has a $2,500 deductible for damage to your car, you’re responsible for paying the first $2,500 towards any Collision or Comprehensive loss. Make sure your deductibles fit your budget.
Finally, make sure you compare apples-to-apples. When getting quotes, be sure each contains the same type and amount of insurance every time, from one company to the next. Look at the type of coverage, the listed exclusions, the limits and deductibles on the policy, and every other component. It’s not possible to choose the best priced policy without ensuring all of these components are the same.
How Can You Find Inexpensive Car Insurance?
Several strategies can help New York car owners save on auto insurance. The key is to do your homework to find the best rates. Some companies offer different discounts and reward programs that can significantly reduce what you pay. It’s up to you to determine which company is offering you the very best rate for your desired coverage by seeking out quotes from several different companies.
Disappearing Discounts
As you compare policies, be on the lookout for limited-term discounts. Some insurers offer some nice features and savings opportunities for new policyholders. You can take advantage of these. However, be sure you know how long those discounts last. If they are only applicable during the first term, you’ll want to keep that in mind when comparing prices. Don’t assume discounts will carry through year-after-year.
Associations and Affiliations
Do you belong to any professional or social organizations? Perhaps you belong to an automotive club? Or maybe you are an alumni of a certain college? Most companies have special affinity discounts available to members of specific organizations. If you are a member of any organization like this, mention it. It could be an easy way to reduce your costs.
Credit-Related Savings
One of the best ways to lower your auto insurance rates is to work on improving your credit history. If you can pay down what you owe, or perhaps ensure your payments are made on time, that is going to set you up for potentially better rates. If you believe that there are problems with your credit that do not accurately reflect your true credit history, you may find that correcting errors in your credit history can help make you eligible for lower insurance rates.
Don’t Make Switches Too Often
Some companies will provide a nice discount for new customers. As noted, you want to find out how long such discounts apply. Some insurers work harder at keeping their good customers. To do that, they may offer nice discounts for those who stick with them longer. Often, you will be offered better rates from a prospective carrier if you’ve been with your current company for three years or more, than if you have switched multiple times within a short amount of time.
Keep Coverages Together
You’ve likely heard about bundling auto insurance before. It is one of the best ways to save money across the board. You can:
• Purchase your auto and home insurance together to save money overall.
• Purchase your auto and renter’s insurance together to reduce the costs.
• Insure multiple cars.
Each one of these avenues is likely to be cheaper than purchasing those policies separately.
Buy a Sensible, Safe Vehicle
Insurance companies take into consideration the value of the car you are insuring into the premium costs you’ll pay. The car itself can play a role in various ways:
- Expensive cars require much higher premiums to cover them
- Sports cars tend to cost more because they are more likely to be driven at higher speeds and more likely to be theft targets
- Some cars are rare or otherwise expensive to repair. This drives up the cost of auto insurance as well.
If you are buying a car, take into consideration the cost of insurance. You can contact your insurance company prior to making a vehicle purchase to get an estimate on insurance costs before you buy.
Consider Mileage-Based Programs
Some drivers don’t venture out often, or they may have very short commutes to work. If you are a low-mileage driver, why purchase a policy meant to cover a person who drives more extensively? Some companies are now using telematics to monitor how safe a driver you are as well as how many miles you drive. You can download an app that records your driving habits for a defined period or required amount of miles. If you have good driving habits and/or don’t drive many miles on a daily basis, you could get a discount.
Additional Tips for Saving on New York Auto Insurance
Here are a few more things to keep in mind:
• Most of the big factors impacting costs are things you can’t control, such as where you live and your past driving history. However, making smart decisions going forward does matter.
• Never let auto insurance lapse. This will almost definitely drive up your premiums and make it more expensive to buy coverage.
• Avoid moving violations. Obey speed limits and follow the rules of the road. Always be a safe driver and avoid distractions like phone usage while driving.
With a bit of research and some educated comparison-shopping, you can find affordable car insurance, even in New York. To learn more about how to save on your auto insurance, get a free quote today from Plymouth Rock Assurance. Get a quote online or speak with a helpful, licensed Plymouth Rock agent.
