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As a driver in New York, it’s wise to shop around for cheap car insurance. Rates from different companies will differ based on factors like your age, credit history and location. It is essential that you compare rates from various providers so that you get the most competitive deal available.
You can reduce your premium by decreasing the amount of coverage you have and opting for usage-based insurance (UBI) instead of full coverage. UBI policies take into account your driving habits when creating a policy, saving up to 50% compared to traditional policies.
Young Drivers
Cheap New York car insurance can be hard to come by, especially for teens and young adults with little driving experience. But it is possible to secure affordable coverage if you take the right steps and drive safely.
Be mindful that the cost of your policy is determined by a variety of factors, including age, gender, credit score and driving record. Fortunately, many insurers provide discounts to help you save money on premiums.
Erie Insurance offers Rate Lock, which locks in your rates until you alter them by adding another car or driver. Additionally, you can save by forgoing some coverages like collision and comprehensive.
Other ways to get cheap New York car insurance include avoiding speeding tickets and DUIs, as well as steering clear of at-fault accidents. Keeping your credit in good standing may also lower the costs for car insurance since many carriers consider those with poor credit histories higher risks.
Sports Cars
Sports cars tend to be more expensive to insure than other automobiles, but there are ways you can reduce your auto insurance rates. Utilizing discounts, raising your deductible or parking your car when not in use can all help lower premiums.
Another way to reduce your rate is by maintaining a clean driving record. Companies will look favorably upon an unblemished record, since it shows you are less likely to file claims or cause harm in an accident.
The Ford Mustang EcoBoost is one of the most cost-effective sports cars to insure, costing an average annual cost of $1,822. MoneyGeek evaluated several providers and found Progressive to offer the most reasonable insurance policy for this car. Plus, their financial strength ratings and lower complaints than other carriers give you peace of mind that your claim will be handled efficiently and successfully.
Senior Drivers
Senior drivers can save on car insurance rates by taking a defensive driving course, signing up for a telematics device or getting a multi-policy discount from WalletHub. These discounts may reduce your auto policy premiums by up to 25 percent.
Maintaining a clean driving record is especially important for seniors, since any history of traffic offenses could indicate you are more at risk to insurance companies. Furthermore, this makes you eligible for discounts such as the mature driver discount from AARP or good driver discounts from specific insurers.
Another way to reduce your New York car insurance costs is to switch to usage-based coverage, which adjusts premiums based on how often and how much you drive. This type of policy is offered by several insurers such as Nationwide and Progressive.
Seniors who don’t drive as often may want to check out Nationwide’s SmartMiles program, which tracks your mileage using a telematics device and adjusts your rates accordingly. Not only does this keep your NY car insurance rates down, but it also reduces its environmental impact. It’s an efficient way to save money on premium coverage without sacrificing convenience.
Drivers with a Speeding Ticket
Drivers with speeding tickets in New York are eligible for the lowest rates on car insurance. Progressive is the cheapest full coverage auto insurer for this group of motorists.
This group’s average cost of full coverage is $708, which is 27% lower than the national average.
Other factors contribute to the cost of car insurance. Age, marital status and credit score can all have an effect on costs.
Similarly, your location plays a factor in determining your insurance costs. Those living in neighborhoods with more crime and accidents tend to pay more for car insurance.
New York requires minimum insurance for drivers that covers bodily injury liability, property damage liability, uninsured/underinsured motorist coverage and personal injury protection. Those without coverage may face steep fines or lose their license altogether.
