Thanks to the traffic and congestion of New York City, residents of New York state pay among the highest auto insurance rates in the country. The sheer number of cars and drivers in the Big Apple mean that the average driver is far more likely to get into an accident and file a potentially expensive claim here than elsewhere. Because of these factors, it can be extremely difficult to find low cost car insurance in New York (NY), but there are some strategies that can help.
New York State requires drivers to carry a minimum of $25,000 in bodily injury liability, with a limit of $50,000. You will also need to maintain $50,000 in personal injury protection with pays for medical expenses for you and others involved in a crash. Finally, New York also requires a minimum of $10,000 in property damage liability which pays for damages caused by your vehicle.
With all of these requirements you might think that it is impossible to find low cost car insurance in New York, but that is not the case. If you live in the rural areas of upstate New York your rates are likely to be significantly lower than drivers in urban areas like NYC or Rochester. The factors that keep city rates so high are the same ones that keep rural rates lower – fewer cars on the road mean fewer crashes and less money that the carriers have to pay.
New York State maintains a no-fault auto insurance system, meaning that your carrier will pay for damages in the event of an accident no matter who caused the crash. A no-fault system like New York’s limits the amount you can sue for in certain cases.
New York residents pay an average car insurance premium of $2,428, which is more than $500 over the national average. Rates have remained fairly steady over the last few years.
Regardless of whether you live in Schenectady, Albany, Buffalo, or New York City, you can find low cost car insurance in New York is you take the time to compare prices. Like other products you buy, auto insurance varies greatly from carrier to carrier. Each insurer has its own set of rules when it comes to determining the rate you will pay, so just because you received an expensive quote from one company does not mean you won’t get a cheap quote from another. This website can instantly connect you to the best discount insurers in your area – all you need to do is enter your zip code in the field above to get started.
If you have recently applied for a loan or credit cards, you may want to wait a few months before buying auto insurance, as your credit file will show multiple inquiries which lowers your credit score. When shopping for low cost car insurance in New York, make sure your credit score is as high as possible. Insurers view your credit record when putting together your quote and a higher credit score often means a safer, more responsible driver.
Another strategy is to bundle your auto policy with another type of policy such as homeowner’s. Many carriers will provide a significant discount if you keep all your policies with them. Also be sure to ask your insurance company for any discounts you may have available to you. Safe driving, good grades for student drivers, and certain professional affiliations are just a few of the discounts that are available, so speak up when you talk to an agent.
While costs are undoubtedly high in the Empire State, do not think you will never be able to get low cost car insurance in New York. With a bit of research and shopping around you could save hundreds of dollars a year on your policy. So go out there and start saving today.