How to Know You’re Throwing Money Away for Car Insurance in Albany, NY

Price shopping your Albany car insurance is always challenging for consumers new to buying insurance online. Drivers have so many choices that it can easily become more work than you anticipated to compare prices in Albany.

Locating cheaper coverage in Albany is simple if you know the tricks. Essentially anyone who shops for car insurance should be able to find better rates. Nevertheless, New York car owners do need to know the way companies price insurance differently and use this information to your advantage.

These discounts can lower your rates

Insuring your vehicles can cost a lot, but there could be available discounts to cut the cost considerably. Certain discounts will be triggered automatically at the time of purchase, but a few must be requested specifically prior to receiving the credit.

  • Low Mileage Discounts – Fewer annual miles could qualify for better rates on cars that stay parked.
  • Discount for Swiching Early – Some insurance companies reward drivers for switching policies prior to your current policy expiration. The savings is around 10%.
  • Distant Student – Kids in college who attend school more than 100 miles from home and do not have a car can be insured at a reduced rate.
  • Homeowners Discount – Being a homeowner may earn you a small savings due to the fact that maintaining a home shows financial diligence.
  • No Charge for an Accident – A few companies allow you one accident before your rates go up so long as you haven’t had any claims prior to the accident.
  • Memberships – Affiliation with certain professional organizations is a good way to get lower rates on car insurance.
  • Employee of Federal Government – Simply working for the federal government can save as much as 8% with select insurance companies.
  • Use Seat Belts – Using a seat belt and requiring all passengers to use a seat belt could cut 10% or more off your PIP or medical payments premium.
  • Pay Upfront and Save – By paying your policy upfront rather than paying monthly you could save up to 5%.

Keep in mind that some of the credits will not apply to the entire policy premium. Most only cut the price of certain insurance coverages like collision or personal injury protection. So when the math indicates all the discounts add up to a free policy, companies wouldn’t make money that way. But all discounts will bring down your premiums.

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

Advertising myths

Car insurance companies such as Progressive, GEICO, Allstate and State Farm continually stream ads on television and other media. They all seem to make the same claim that you’ll save big after switching to them. But how can every company make the same claim? This is how they do it.<img class="alignright" style="padding-top:15px;" src="" alt="New York car insurance“/>

Insurance companies have a certain “appetite” for the right customer that is profitable for them. A good example of a driver they prefer could possibly be between 25 and 40, has no prior claims, and has great credit. Any driver who matches those parameters will get the preferred rates and as a result will probably pay quite a bit less when switching companies.

Potential insureds who do not match these standards will have to pay higher rates and this can result in business not being written. Company advertisements say “customers that switch” not “everybody who quotes” save that much. That’s why insurance companies can confidently advertise the way they do.

Because of the profiling, you should compare as many rates as you can. It is impossible to predict which insurance companies will give you the biggest savings.

More information about car insurance

Much more information about car insurance in New York can be read on the New York Department of Financial Services website. Click here for link. New York consumers can read industry bulletins, file complaints about a company, view agent and company licensing information, and learn about specific coverages.

These articles may also be worth reading.

New York car insurance

Best coverage at the best price

When you buy insurance online, it’s not a good idea to buy poor coverage just to save money. There are many occasions where someone sacrificed uninsured motorist or liability limits to discover at claim time that they should have had better coverage. Your strategy should be to purchase a proper amount of coverage at the best price.

Budget-conscious car insurance can be sourced both online in addition to many Albany insurance agents, and you should be comparing both so you have a total pricing picture. Some insurance providers do not provide online quoting and many times these small, regional companies only sell through independent insurance agents.

We just showed you many ideas to get a better price on car insurance. The key concept to understand is the more companies you get rates for, the better likelihood of reducing your rate. Drivers may discover the lowest priced car insurance comes from some of the smallest insurance companies.