Cheap Auto Insurance Quotes for Drivers Under 25 in New York

The words “affordable” and “insurance” really shouldn’t be used together, especially when you are searching for the lowest insurance prices for drivers under 25. In an attempt to save some money, let’s get started by showing you a few of the factors that have a considerable impact on car insurance premiums, and come up with some ideas to shave a little off your next policy.

The cost and performance of the vehicle you are trying to insure is probably the largest consideration when shopping for cheap car insurance for drivers under 25 in New York. Vehicles with limited top-end speed, an excellent safety record, or low incidents of liability claims will cost substantially less to insure than higher performance models. The next lists estimates car insurance rates for a selection of the most cost-effective automobiles to buy insurance for.

Data assumes single male driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate quotes do not factor in New York location which can affect coverage prices noticeably.

Data assumes single male driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in specific garaging location which can alter prices noticeably.

Data rating is based on single male driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include claim-free, and safe-driver. Prices do not factor in zip code location which can revise auto insurance rates considerably.

When shopping for insurance for drivers age 25 and younger, one of the many things that aid in calculating the amount you pay each year for auto insurance is where you live. Areas with increased crime or more people like New York, Hempstead, and Mount Vernon tend to have more expensive car insurance rates, whereas cities that are not as densely populated generally have lower rates.

The table below illustrates the higher priced cities in New York for drivers under 25 in which to purchase auto insurance.

Premium costs are estimated as specific New York garaging address can decrease or increase price quotes greatly.

How to get discounts on New York car insurance rates

<img class="shadow floatright" src="http://www.quoteclickinsure.com/blog/wp-content/uploads/car-insurance-drivers-under-25-ny.jpg" alt="Cheaper New York car insurance for drivers age 25 and younger”/>Insurance companies that sell cheap car insurance for drivers under 25 in New York may provide premium discounts that could potentially reduce rates by as much as 30% if you meet eligibility requirements. Companies and a partial list of their discounts can be read below.

The example below compares yearly insurance costs with and without some available policy discounts. The premiums assume a female driver, no accidents, no driving violations, New York state minimum liability limits, full physical damage coverage, and $250 deductibles.

The first bar for each age group shows premium with no discounts. The second bar shows the rates with vehicle safety, passive restraint, continuous coverage, good student, paid-in-full, and anti-theft discounts applied. When these discounts are applied, the the amount saved on car insurance for drivers under 25 is % or $.

google.charts.setOnLoadCallback(drawDiscqcibChart);function drawDiscqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Female Driver No Discounts’, ‘Female Driver with Discounts’],[‘Age 20’, 1953,1407],[‘Age 30’, 1257,983],[‘Age 40’, 1103,915],[‘Age 50’, 1065,803],[‘Age 60’, 1237,773]]);var options = {title: ‘Effect of Discounts on Insurance Price for Drivers Under 25’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’:{left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#c096ca’, ‘#e1b7ec’],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);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdisc’));chart.draw(data, options);}

Full coverage versus liability only rates

Finding cheap car insurance for drivers under 25 in New York is probably important to the majority of drivers, and an easy way to lower the cost of insurance is to not insure for full coverage. The example below compares auto insurance rates with and without physical damage coverage. The information is based on a clean driving record, no at-fault accidents, $1,000 deductibles, single status, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 2539,1065],[‘Age 30’, 1323,587],[‘Age 40’, 1293,543],[‘Age 50’, 1183,509],[‘Age 60’, 1151,501],[‘Age 70’, 1439,669]]);var options = {title: ‘Comparison of Rates for Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in New York’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

As an average, physical damage insurance costs $1,488 per year more than just buying liability only. That raises the question if you should buy full coverage at all. There is no clear-cut formula to eliminate full coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

For example, let’s pretend your vehicle’s book value is $9,500 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $8,500 after paying your policy deductible. If you are paying in excess of $850 a year to have full coverage, then you might want to think about dropping full coverage.

Does Allstate, State Farm, Geico, or Progressive have the cheapest car insurance?

If you want reliable auto insurance for drivers age 25 and younger in New York, the companies with the most market share are Allstate, State Farm, Geico, and Progressive. All of them offer liability and physical damage protection, but each on has a distict selection of optional coverages and features that buyers can select from. The next table shows ratings for price and service, as well as some optional coverages that policyholders can buy.