Comparison shopping can help lower auto insurance premiums in New York, and other ways include taking a driver safety course or bundling policies (i.e. auto and home). Driving less may also save money – so another strategy for saving may include bundling policies (auto + home).
Reexamining coverage limits and deductibles is also recommended, as these can have an impactful impact on rates.
1. Shop Around
Step one in finding cost-effective auto insurance is shopping around for competitive rates. Many factors affect the total price of coverage, including factors like what coverage you require, driving history and vehicle type as well as any incidents such as traffic violations or accidents on your record.
Data and customer experiences point to certain providers as offering competitive rates without compromising coverage, including State Farm, GEICO, and USAA. In addition, these companies are recognized for offering excellent face-to-face customer service and discounts across their product offerings.
Bundling multiple policies together may also save money, often up to 29% less in premium costs.
Use-based or pay-per-mile auto insurance programs like Metromile, Allstate’s Drivewise and Progressive Snapshot may also provide an effective option, giving infrequent drivers such as retirees or remote workers the ability to only pay for miles they travel. These policies allow drivers to only pay when driving.
Finally, raising your deductible can often save money; just make sure it fits within your budget in case of a claim. Dropping comprehensive and collision coverage on older vehicles could also help save money; just be sure you understand which protection is being discontinued before doing so.
2. Look for Discounts
One of the best ways to save on car insurance is to qualify for discounts. Most insurers provide a range of discounts that can be combined together for greater savings, and you should find this list on each carrier’s website; however, for more details and clarification speak directly with their representative as discounts amounts, terms, and eligibility can differ between providers.
Many insurers will provide discounts for those who complete a defensive driving course, while other may provide reductions for good student drivers and members of certain professional, business or alumni groups. Some states even permit individuals to receive reduced rates if their insurer tracks their driving habits through an embedded telemetric device plugged into their car (known as usage-based auto insurance); such programs include Allstate’s Drivewise program, Progressive’s Snapshot or Nationwide’s SmartMiles programs.
Numerous other factors can have an effect on your rate, such as the type of car and safety features it contains. When purchasing new or used vehicles, be mindful of these costs by consulting the Institute for Highway Safety’s online Top Safety Pick ratings beforehand; additionally you could save by opting for an anti-theft device or passive restraint system equipped car.
3. Drive Safely
Many factors affect auto insurance rates, some of which may be beyond your control. There are still things you can do to lower premiums without sacrificing coverage; such as bundling your policies together or maintaining clean records. You could also adjust your deductible – an amount you must pay out-of-pocket before your insurer will cover repairs or replacements – in order to lower premiums.
One of the key strategies for keeping rates down is driving safely. This includes adhering to traffic laws, avoiding speeding tickets or other violations, and limiting distractions while driving. Furthermore, many insurers offer programs like Snapshot that track and reward safe driving behaviors with reduced premiums.
Location can also have a great effect on your rates; moving from a suburban neighborhood into the city could increase accident and theft risks and drive up premiums significantly. But cutting back on miles driven can reduce auto insurance costs significantly – saving money while protecting yourself in this manner may significantly cut back your costs.
Stanley Insurance Group can assist you in finding affordable auto insurance policies in New York. Contact us now to obtain a quote and learn how we can assist in selecting the most appropriate plan for you!
4. Maintain Good Credit
Remember when purchasing car insurance that your credit score should only be one factor of many when shopping around for coverage. Other strategies exist for reducing rates, including bundling your auto and homeowners policies together, driving less frequently or taking a defensive driving course – in addition to considering which kind of coverage meets your financial requirements.
Make and model of your car are another key factor that can impact auto insurance premiums, according to ValuePenguin. According to this source, generally better rates can be achieved if you purchase more fuel-efficient, lower repair cost, or safer models; but before making your final purchase decision it would be prudent to compare different makes and models as prices can differ based on these features.
Your credit history plays an integral part in your car insurance rates, with insurers using your insurance credit score — which differs from regular credit scores — to gauge how likely it is for you to file claims. Research has indicated that those who manage their credit responsibly tend to file less claims.
NerdWallet makes it easy and cost-free to check your insurance credit score, and also provides a central hub to keep track of all of your auto and home policies – simply link them all up!