It’s hard to miss the catchy commercials from insurers like Liberty Mutual and Farmers promising the cheapest price, so you just need to pick the one with the catchiest commercial, right?
It’s not quite that easy, unfortunately, as there are a ton of unknowns such as the number of years you have been driving, your financial stability, and your vehicle’s safety rating, that all help calculate your car insurance rates. We know insurance is not everyone’s favorite topic, but in this article we will cover some of these factors and should give you a good beginning to your search for cheaper coverage.
The vehicle model needing coverage is probably the largest consideration when consumers are trying to find the best cheap coverage for infrequent drivers. Vehicles with lots of speed or power, a lack of safety features, or an increased likelihood of liability claims will cost much more to insure than safer, lower-performance models.
The next list features car insurance rates for a handful of the most budget-friendly vehicles to insure.
Insured Vehicle | Estimated Cost for Full Coverage |
---|---|
Hyundai Elantra SE Touring Station Wagon | $537 |
Volkswagen Jetta S 2.5 Station Wagon | $547 |
Chevrolet Traverse LT AWD | $548 |
Honda CR-V LX 4WD | $558 |
Ford Escape XLT 2WD | $565 |
Honda Odyssey EX W/Rear Entertainment | $575 |
GMC Sierra SL Extended Cab 2WD | $586 |
Hyundai Tucson Limited 2WD | $594 |
Chevrolet Impala LT | $586 |
Ford Explorer Limited 4WD | $597 |
Toyota Prius | $602 |
Hyundai Sonata GLS 4-Dr Sedan | $627 |
Kia Forte EX 4-Dr Sedan | $633 |
Nissan Rogue S AWD | $627 |
Nissan Altima Hybrid 4-Dr Sedan | $629 |
Toyota Sienna Limited | $639 |
Toyota RAV4 2WD | $640 |
Ford Edge Limited 2WD | $643 |
Ford F-150 Lariat Crew Cab 2WD | $653 |
Dodge Grand Caravan Crew | $659 |
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Information does not factor in New York location which can influence insurance rates significantly.
Based upon the rates shown, we can assume that models like the Hyundai Elantra, Volkswagen Jetta, and Chevrolet Traverse are likely to be a few of the more affordable vehicles to insure for low mileage drivers.
When shopping for the cheapest insurance for low mileage drivers, one of the many things that play a part in determining the amount you pay each year for auto insurance is where you keep your vehicle in New York. Areas that are more densely populated or have higher claim rates like New York, Hempstead, and Yonkers tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims can boast about having cheaper rates.
The next table lists the priciest cities in New York for infrequent drivers to purchase auto insurance in.
Rank | City | Annual Rate |
---|---|---|
1 | New York | $2,735 |
2 | Freeport | $2,281 |
3 | Hempstead | $2,211 |
4 | Levittown | $2,001 |
5 | Yonkers | $1,920 |
6 | Mount Vernon | $1,919 |
7 | Hicksville | $1,900 |
8 | West Babylon | $1,875 |
9 | Brentwood | $1,872 |
10 | Coram | $1,784 |
11 | White Plains | $1,678 |
12 | New Rochelle | $1,610 |
13 | Buffalo | $1,503 |
14 | Cheektowaga | $1,240 |
15 | West Seneca | $1,201 |
16 | Niagara Falls | $1,189 |
17 | Tonawanda | $1,165 |
18 | Utica | $1,136 |
19 | Syracuse | $1,119 |
20 | Troy | $1,063 |
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Rate quotes are approximated as the specific geographic location can alter price quotes noticeably.
The information below illustrates how choosing a deductible can affect premium costs when quoting cheap insurance for infrequent drivers. The premium estimates are based on a married female driver, full physical damage coverage, and no discounts are applied.
google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 1679,1541,1381,1229],[‘Age 30’, 1181,1081,963,851],[‘Age 40’, 1163,1067,953,845],[‘Age 50’, 1023,939,843,751],[‘Age 60’, 975,895,801,713],[‘Age 70’, 1045,959,863,771]]);var options = {title: ‘Impact of Higher Deductibles on Insurance Prices in New York’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}
The chart above illustrates that a 50-year-old driver could cut expenses by $180 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $272 by selecting a $1,000 deductible. Even younger drivers, like the Age 20 chart data, have the ability to save up to $450 every year by selecting a higher deductible. When choosing a higher deductible, it is important to have enough funds in savings to allow you to pay the extra out-of-pocket expense that is associated with using high deductibles.
Insuring your vehicle with a high-quality insurance provider can be difficult considering how many different companies sell coverage in New York. The ranking data displayed below may help you analyze which car insurance providers to look at shopping your coverage with. The rankings below only include companies that insure vehicles across America, so companies without a large exposure are not included in these rankings.
Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
---|---|---|---|---|---|---|
The General | 96 | 100 | 92 | 91% | A- | 95 |
Mercury Insurance | 87 | 96 | 100 | 87% | A+ | 93.4 |
The Hartford | 88 | 96 | 91 | 93% | A+ | 92.6 |
Progressive | 84 | 94 | 99 | 90% | A+ | 92.4 |
Travelers | 84 | 93 | 100 | 87% | A++ | 92.3 |
State Farm | 84 | 93 | 95 | 87% | A++ | 91 |
Farmers Insurance | 87 | 92 | 90 | 85% | A | 90.6 |
Erie Insurance | 92 | 90 | 82 | 88% | A+ | 88.5 |
Safeco Insurance | 85 | 91 | 87 | 86% | A | 88.4 |
USAA | 71 | 93 | 98 | 87% | A++ | 88 |
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Data Source: Insure.com Best Car Insurance Companies