When you buy car insurance in New York or anywhere, you need to make comparisons about every six months. That’s because you can always get a better deal. You just need to remember a couple things. First, you’ll generally pay higher or lower rates based on your age and gender. Second, it always helps to ask about discounts that may be applicable to you.
So, how do your gender and age impact what you pay for insurance?
For younger men, in their teens and up to 25 years old, car insurance is generally higher. That is because men under this category usually have more accidents. Even if you’re a super safe driver, you’re going to pay higher rates if you fall under this classification.
You can still cut costs through discounts (such as having a spotlessly clean driving record) or having a good credit standing. Always ask an insurer about discounts as doing so can make a big difference in what you pay in car insurance New York premiums.
Tips for Getting a Discount
You can get a discount on your New York car insurance for safe or defensive driving, or if you’re a good student. Drivers can also cut costs with a low-mileage discount or when they have an accident-free record. For example, if your premium in New York is $750, you’ll slash $75.00 off the amount you pay just by getting a 10% discount.
How to Know What to Buy
In New York, a basic liability insurance policy–the coverage required by law–covers bodily injury and property damage, with the limits expressed as 25/50/10.
This means that you’re covered for $25,000 for a single person injured in an auto mishap and $50,000 per accident. The last number “10” represents the maximum amount paid for property damage caused when you’re at fault.
If you live and drive in New York, you’re also required to get uninsured and underinsured motorist protection. This covers you if you’re stuck by someone without adequate coverage. You should buy a minimum of 25/50 – $25,000 per person and $50,000 per accident.
New York is a no-fault state. Therefore, you also have to take out at least $50,000 personal injury protection per person. PIP covers the medical costs for you and your passengers, regardless of who is considered at fault.
Reduce the Amount You Pay for Comprehensive Insurance
Comprehensive coverage is not mandatory. However, it will cover you against weather damage, vandalism or theft. You can reduce the coverage by garaging your car or adding security devices.
Increase Your Deductible
If you can afford a higher out-of-pocket expense, you can raise your deductible (from $500 to $1,000) and save on your premium.
Maintain a Good Credit Score
Having a good credit score strongly influences what you’ll pay in car insurance. A poor credit score can double what you’re paying in coverage annually.
Look for the Best Rates Online
Knowing how you can reduce your car insurance can assist you in finding the best rates for the coverage. Keep up-to-date and make comparisons every 6 months so you’re always getting the most for your money.
