No one in their right mind likes paying for auto insurance, in particular when their premiums are through the roof.
Drivers have multiple insurers to purchase coverage from, and even though it’s nice to be able to choose, it can be more challenging to compare rates and find the lowest cost auto insurance.
Shopping for more affordable protection in New York is easy if you know what you’re doing. Just about anyone who is shopping for auto insurance stands a good chance to be able to find lower rates. Although New York drivers must understand how companies sell insurance online and take advantage of how the system works.
Insuring your vehicles can cost a lot, but companies offer discounts to cut the cost considerably. Some trigger automatically at the time of quoting, but some must be specifically requested prior to getting the savings.
It’s important to understand that some of the credits will not apply to the overall cost of the policy. Some only reduce the cost of specific coverages such as comp or med pay. So when the math indicates all the discounts add up to a free policy, it doesn’t quite work that way. Any amount of discount will reduce your overall premium however.
Shopping for lower auto insurance rates can be a lot of work if you aren’t aware of the most efficient way. You can waste a lot of time discussing policy coverages with agents in New York, or you can stay home and use the web to get pricing more quickly.
All the larger companies take part in a program that allows shoppers to submit one quote, and each participating company provides a quote based on that data. This system prevents you from having to do quote requests for each company.
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The only drawback to getting quotes like this is buyers cannot specifically choose the companies to get quotes from. So if you want to choose from a list of companies to compare rates, we have assembled a list of companies who write auto insurance in New York. Click here for list of insurance companies in New York.
It doesn’t matter which method you choose, just compare apples-to-apples coverages and limits for every quote you compare. If you enter different deductibles it will be very difficult to determine the best price in New York. Slightly different limits can make a big difference in price. Just remember that quoting more provides better odds of finding lower pricing.
An important part of buying insurance is that you know some of the elements that go into determining your auto insurance rates. When you know what positively or negatively impacts premium levels helps enable you to make changes that may reward you with lower auto insurance prices.
Companies like 21st Century, Allstate and State Farm constantly bombard you with ads on television and other media. All the ads have a common claim that you’ll save big if you switch your coverage to them. How do they all make the same claim? It’s all in the numbers.
All companies are able to cherry pick for the type of customer they prefer to insure. A good example of a profitable customer might be profiled as between the ages of 30 and 50, is a homeowner, and has excellent credit. Any driver that hits that “sweet spot” will get very good rates and as a result will probably pay quite a bit less when switching companies.
Potential insureds who do not match this ideal profile will have to pay higher premiums which usually ends up with business going elsewhere. The ads say “people who switch” but not “drivers who get quotes” save that kind of money. That’s why companies can truthfully make those claims.
Because of the profiling, it’s extremely important to quote coverage with many companies. It’s just too difficult to predict the company that will fit your personal profile best.
In this article, we covered some good ideas how to get a better price on auto insurance. The most important thing to understand is the more you quote, the better your chances of lowering your rates. You may be surprised to find that the best price on auto insurance is with some of the lesser-known companies. Regional companies may have significantly lower rates on certain market segments than the large multi-state companies such as Allstate and Progressive.
As you go through the steps to switch your coverage, make sure you don’t buy less coverage just to save a little money. In many cases, someone sacrificed comprehensive coverage or liability limits only to discover later that the savings was not a smart move. The aim is to buy a smart amount of coverage at a price you can afford while not skimping on critical coverages.
Additional information is located on the website for the New York Department of Financial Services. Click here for link. New York drivers can read enforcement actions against agents and companies, read state legal mandates and laws, and find out industry alerts.