New York New York Auto Insurance Savings the Companies Don’t Want You to Know About

No one in their right mind likes having to buy auto insurance, especially when their premiums are through the roof. Drivers have multiple insurers to pick from, and although it’s nice to be able to choose, it can be more difficult to find a good deal.

Finding the lowest cost auto insurance coverage in New York is not that difficult. If you are insured now or need a new policy, you can use this information to find better prices while maximizing coverage. New York drivers just need to learn how to find the lowest price on the web.

Save big with these discounts

Car insurance can cost a lot, but there are discounts available to reduce the price significantly. Some discounts apply automatically when you purchase, but some must be inquired about prior to receiving the credit. If they aren’t giving you every credit you qualify for, you’re just leaving money on the table.

• Early Switch Discount – Some insurance companies reward drivers for switching to them before your current policy expires. It’s a savings of about 10%.
• College Student – Kids in college who attend school more than 100 miles from home and do not have access to a covered vehicle may qualify for this discount.
• Fewer Miles Equal More Savings – Low mileage vehicles can qualify you for lower rates on the low mileage vehicles.
• Discount for New Cars – Buying coverage on a new vehicle is cheaper due to better safety requirements for new cars.
• Good Students Pay Less – Performing well in school can earn a discount of 20% or more. This discount can apply until age 25.
• Pay Now and Pay Less – By paying your policy upfront instead of making monthly payments you can actually save on your bill.
• Auto/Life Discount – Companies who offer life insurance give a break if you buy auto and life insurance together.
• Use Seat Belts – Requiring all passengers to wear their seat belts can save up to 15% off the personal injury premium cost.
• Homeowners Savings – Being a homeowner can save you money because owning a home requires personal responsibility.

A little note about advertised discounts, many deductions do not apply to the overall cost of the policy. Most cut the price of certain insurance coverages like medical payments or collision. So despite the fact that it appears you could get a free auto insurance policy, companies don’t profit that way. But all discounts will cut the cost of coverage.

For a list of insurers with discount auto insurance rates in New York, click here to view.

Vehicle Insurance Comparison

Finding lower New York auto insurance rates can be surprisingly simple. Just spend a few minutes on the computer to compare quotes provided by online insurance companies. This can be done in a couple of different ways.

• Probably the best way to get quotes for comparison would be an industry-wide quote request form like this one (opens in new window). This method prevents you from having to do a different quote for each company. Completing one form will return price quotes from all major companies.
• Another way to analyze rates is to manually visit the website for each individual company to complete their respective quote request forms. For examples sake, let’s say you want comparison quotes from Allstate, Progressive and GEICO. To get each rate you have to visit each site and enter your policy data, which is why most consumers use the first method. For a list of links to insurance companies in New York, click here.
• The least efficient way of comparing rate quotes is to drive around to and from local New York insurance agencies. Buying insurance online eliminates the need for an insurance agent unless you have a need for the trained guidance that only a license agent can provide. You can, however, comparison shop online but buy from a local insurance agent. We’ll cover that shortly.

It’s up to you which method you use, but ensure you’re using apples-to-apples quote information for every company. If your comparisons have mixed coverages it’s impossible to determine the lowest rate in New York.

Why you might pay higher rates in New York

Smart consumers have a good feel for the different types of things that go into determining your auto insurance rates. Understanding what determines base rates helps enable you to make changes that may reward you with big savings.

• How credit affects auto insurance rates – A driver’s credit score is a important factor in determining what you pay for auto insurance. If your credit score is lower than you’d like, you could pay less to insure your by improving your rating. People with high credit scores tend to be more responsible than drivers who have poor credit.
• Do you need the policy add-ons? – There are quite a few additional coverages that can waste your money if you aren’t careful. Coverages like personal injury protection, accident forgiveness and additional equipment coverage are examples of these. They may seem like a good idea when you first buy your policy, but now you might not need them so get rid of them and save.
• Too many auto insurance claims drive up costs – If you frequently file small claims, you can expect either a policy non-renewal or much higher rates. Insurance companies in New York award better rates to drivers who do not file claims often. Auto insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
• Where you live can impact rates – Living in small towns and rural areas can be a good thing when insuring your vehicles. Less people living in that area means a lower chance of having an accident and a lower car theft rate. Urban drivers regularly have much more traffic to deal with and much longer commute distances. Higher commute times means higher likelihood of an accident.
• Proper usage rating affects rates – The more you drive each year the higher your rates will be. Most companies price each vehicle’s coverage based on how the vehicle is used. Autos left parked in the garage get more affordable rates compared to those used for work or business. Make sure your auto insurance policy shows the correct driver usage.

Will just any policy work for me?

When it comes to choosing proper insurance coverage, there is no one size fits all plan. Your needs are not the same as everyone else’s so this has to be addressed. Here are some questions about coverages that could help you determine if your insurance needs will benefit from professional help.

• Am I covered by my employer’s commercial auto policy when driving my personal car for business?
• Are all vehicle passengers covered by medical payments coverage?
• When should I remove comp and collision on my vehicle?
• I don’t drive much so do I pay less?
• Am I getting all the discounts available?
• What is the difference between comprehensive and collision coverage?
• Is my teen driver covered when they drive my company car?
• How many claims can I have before being cancelled?

If it’s difficult to answer those questions then you might want to talk to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies. It is quick, free and you can get the answers you need.

Are insurance agents obsolete?

Some consumers would rather sit down with an agent and that is just fine! Agents can point out coverage gaps and give you peace of mind. The biggest benefit of getting online price quotes is the fact that you can find lower rates and still choose a local agent. Buying from local businesses is important particularly in New York.

To help locate an agent, after submitting this simple form, your insurance coverage information is sent to companies in New York who will compete for your coverage. There is no reason to drive around because quoted prices will be sent to the email address you provide. It doesn’t get any easier!

Below are New York auto insurance companies willing to provide price quote information.

Hunt Agency Inc – 59 John St, New York, NY 10038 – (212) 269-0881
Liberty Mutual Insurance – 1133 Avenue Of The Americas, New York, NY 10036 – (212) 391-7500
Allstate Insurance Co – 396 Broadway # 201b, New York, NY 10013 – (212) 925-0400
Bedford Insurance Brokerage – 1230 Avenue Of The Americas, New York, NY 10020 – (212) 618-6363
For-AM Insurance – 401 Broadway, New York, NY 10013 – (212) 334-6829

Deciding on a company needs to be determined by more than just the premium amount. Any agent should have no problem answering these questions:

• What insurance company do they write the most business with?
• Are there any hidden costs in their price quote and does it include driving and credit history?
• Does the agency provide any after hours assistance?
• Do they review policy coverages at every renewal?
• Are they able to influence company decisions when a claim is filed?
• Did they already check your driving record and credit reports?
• Do they receive special compensation for putting your coverage with one company over another?

After receiving good answers in addition to an acceptable price estimate, it’s possible that you found an insurer that will provide auto insurance coverage.

Don’t be fooled by advertising claims

New York consumers can’t get away from ads for cheaper car insurance by Progressive, GEICO, Allstate and State Farm. They all make an identical promise that you can save if you switch to their company.

How can each company make almost identical claims?

All companies have a preferred profile for the type of customer that is profitable for them. For example, a desirable insured might be between the ages of 30 and 50, is a homeowner, and has excellent credit. Any driver who fits that profile will qualify for the lowest rates and as a result will probably save when switching.

Potential insureds who do not match the “perfect” profile will have to pay a higher premium and ends up with business going elsewhere. The ads say “customers that switch” not “everybody who quotes” save that kind of money. That’s why insurance companies can confidently advertise the way they do.

Because of the profiling, drivers should get as many quotes as possible. Because you never know the company that will give you the biggest savings.

In conclusion

We just showed you many tips how you can save on auto insurance. The key concept to understand is the more providers you compare, the higher your chance of finding lower rates. You may even find the most savings is with a company that doesn’t do a lot of advertising. Regional companies may often insure only within specific states and give getter rates compared to the large companies like Allstate, GEICO and Progressive.

When shopping online for auto insurance, you should never reduce needed coverages to save money. In many instances, an accident victim reduced uninsured motorist or liability limits and learned later that the small savings ended up costing them much more. Your focus should be to buy enough coverage at a price you can afford while not skimping on critical coverages.

Discount auto insurance is possible both online in addition to many New York insurance agents, and you should compare price quotes from both to get a complete price analysis. Some insurance companies do not provide you the ability to get quotes online and these smaller companies work with independent agents.

More information is available on the website for the New York Department of Financial Services through this link. New York drivers can download brochures, find out industry alerts, file complaints about an insurance agent or broker, and read state legal mandates and laws.

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