If you live in New York, what you pay for car insurance will depend on where you live, how much you drive, your gender, age, and the make and model of your car. Also, your credit score and driving history factor heavily in this regard.
There are also things you cannot avoid when you’re looking at quotes. For example, if you’re a 24 year-old male driver, you’ll pay more for insurance than a middle-aged driver–male or female–because young male drivers, 21 to 25, usually have more accidents.
Even if your driving record is clean, you will be assessed a higher quote. However, you can still request a good driver’ discount to counteract this assessment. You can also take other measures to reduce your car insurance New York premium. Raising your deductible, adding security features, garaging your car, and driving fewer miles also lead to lower insurance costs.
To get a better grasp of what you need to do, it also helps to review some insurance statistics. Let’s look at the minimum liabilities set for auto insurance in New York. Liability insurance is required for bodily injury and property damage. The state sets the minimum limits at 25/50/10. This series of number represent:
● $25,000 for the death or injury of each individual per accident
● $50,000 for all individuals involved in the crash in the other vehicle
● $10,000 for property damage per accident
The coverage does not extend to you and your passengers. It only covers the individuals and driver in the other car. Therefore, the state-required liability insurance covers third-party drivers and passengers.
In New York State (NYS), you can add coverage known as Med Pay to cover your medical payments regardless of who is at fault. The coverage pays from $5,000 to $10,00 for each person in your car and the driver.
What you pay for insurance also hinges on what type of car you drive. Some makes and models of cars are involved in more accidents, so the quote you receive is also based on the type of car you drive. Policyholders with sportier cars often drive them faster and therefore get involved in more wrecks. Also, the age of your car has a bearing on what you pay for insurance. The newer the car, the higher the premium.
If you live in a high-crime area, expect to pay more for your auto insurance. Not only will your liability insurance be higher, so will your comprehensive coverage. Comprehensive insurance covers vandalism, theft, or extreme weather damage when your car is not in use.
To reduce your car insurance in New York, you can ask about discounts for good driving or for added security features. You can also work at raising your credit score if it has dropped or needs a bit of reviving.
Driving an older or more conservative model car can help as can increasing your deductible. If you do increase your deductible, however, make sure it’s an amount you can afford. Otherwise, you’ll defeat the whole purpose of using the coverage.
Bundling your car insurance with your homeowner’s coverage also reduces your overall rates.
Keep regularly up-to-date on what you’re paying for insurance. Compare your insurance with other plans to make sure you’re receiving the best protection for your money.