What? I Can Pay Less for My New York Auto Insurance?
Car insurance rates depend on a variety of different factors to access your risk management including:
- Driving record
- Type of car
- Type of coverage
- Marital status
- Use of car
- Credit score
- Lapse in coverage
People with several accidents and bad credit will obviously have to pay more for their insurance coverage than someone with a perfect driving record. Even if you don’t have the best history, you can always start making changes today. Also, more expensive cars will cost more to insure. If you want to keep your insurance rates low, consider getting a less expensive car that doesn’t attract a lot of attention. Here are some additional tips to help you save on your insurance coverage.
1. Drive safely
The best way to avoid high insurance costs is to drive safely. Winter driving, in particular, is especially troublesome. Of course some things, like hail damage, you can’t control unless you have a garage. However, you can take precautions while driving to eliminate risks. Drive the speed limit, stay focused, keep your car and its tires well maintained, and leave plenty of space in between you and other cars. Following these simple steps can be the cheapest and easiest way to keep your insurance rates down.
2. Shop around
Shopping for insurance can be time-consuming, but it’s important to take the time to evaluate your options. Not every auto insurance company will offer you the same amount of coverage at the same price. Shop around and talk to different companies to get the best deal possible. The cheapest deal isn’t always the best deal, though. Compare the level of coverage that you’ll receive with each company as well. Also, consider seemingly small features such as car rental and towing. While it’s tempting to get the lowest insurance required by law, this may cost you more money in the long run. Consider what your needs will be in the case of an accident so that you are well covered when it does happen.
3. Raise the deductible
When you raise the deductible on your policy, your monthly payment will go down. For example, if you raise your deductible from $50 to $1000, you will save roughly $438 per year. Remember that this could come back to bite you when you get into an accident and need to provide that higher premium. If you do opt for the higher premium, have at least that amount of money in the bank to cover your costs if something does happen.
4. Defensive driving class
You can now take defensive driving classes online which will lower your insurance rates by at least 10%. The discount will even last for a full three years! Since the classes are online, it won’t be too much of an inconvenience, and it will save you a lot of money in the long run. Of course, you’ll want to talk to your insurance company first to learn about any specific requirements.
5. Ask about other discounts
You may be entitled to insurance discounts that you did not initially consider. Students with good grades, retired people, senior citizens, homeowners, and many other discounts could apply to you and your family. You’ll never know if you don’t ask, so talk to your insurance agent.
6. Stay diligent
Changing rates happen all of the time as people go through life. As your life and your insurance coverage changes, stay diligent about possible ways to lower your insurance rates. If you stay complacent with your rates, they will not get lower.
7. Usage-based insurance
Many people have a car that they don’t use very often. This especially applies to students away in school and seniors who use the car to go to the store and back. In these situations, you might want to consider insurance that charges by usage. You can determine exactly how many miles you want to pay for with your insurance agent.
We hope this article helps you see other areas to potentially save on your car insurance. The easiest way to shop and save is to contact an Independent Agent like First Heritage Insurance Agency. We can shop across 10+ carriers on your behalf and make sure all available discounts are applied. Reach out today and see the difference in your monthly auto insurance payment.