Tightwads Tips for Saving on Albany Auto Insurance

Overpriced auto insurance can empty your bank account and force you to make sacrifices. Shopping your coverage around is a great way to slash your bill and have more diposable income.

There is such a variety of to buy insurance from, and even though it's nice to be able to choose, so many choices can make it hard to compare rates.

It's important to get comparison quotes yearly because prices are constantly changing. Even if you think you had the lowest price a few years ago there is a good chance you can find better rates now. There is too much inaccurate information about auto insurance on the web, but I'm going to show you some great ways to reduce your auto insurance bill.

Understand what determines the rate you pay

Consumers need to have an understanding of the factors that play a part in calculating the rates you pay for auto insurance. Knowing what influences your rates helps enable you to make changes that may reward you with lower auto insurance prices.

  • Being married is a good thing - Having a wife or husband helps lower the price on auto insurance. It usually means you are more mature it has been statistically shown that married drivers get in fewer accidents.
  • Drive less and save money - The higher the mileage driven in a year's time the more you will pay for auto insurance. The majority of insurers charge to insure your cars based on their usage. Cars left parked in the garage receive lower rates than those used for commuting. Make sure your auto insurance declarations sheet shows the correct usage for each vehicle, because improper ratings can cost you money.
  • Policy add-ons can waste money - There are quite a few add-on coverages that you can buy when buying auto insurance. Coverages for roadside assistance, towing coverage and membership fees are some examples. These coverages may sound good when talking to your agent, but your needs may have changed so eliminate them to save money.
  • Teen drivers pay high rates - Youthful drivers in New York have a tendency to be more careless when driving so they pay higher auto insurance rates. Adding a teen driver onto your auto insurance can break the bank. More mature drivers are viewed as being more responsible, tend to file fewer claims and receive fewer citations.
  • Higher deductibles cost less - Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some examples of claims that would be covered would be running into the backend of another car, damage caused by hail, and windstorm damage. The deductibles are how much you are willing to pay out-of-pocket if you file a covered claim. The more the insured has to pay upfront, the bigger discount you will receive.

Compare Auto Insurance Today

There are several ways of comparing rates from local Albany auto insurance companies. One of the best ways to find competitive insurance rates is to get quotes online. This is very easy and can be done using a couple different methods.

  1. The fastest way consumers can analyze rates is to use a rate comparison form (click to open form in new window). This type of form eliminates the need for repetitive form entry for every auto insurance company. A single, simple form will get you price quotes direct from many companies.
  2. A slightly less efficient method to compare rate quotes requires a visit to each individual company website to complete their respective quote request forms. For examples sake, let's say you want comparison quotes from , and . To get rate quotes you would need to take the time to go to each site to input your insurance information, and that's why the first method is more popular.

    To view a list of companies in Albany, click here.

However you get your quotes, make sure you use identical coverage limits on every quote you get. If the quotes have differing limits you will not be able to determine which rate is truly the best in Albany. Slightly different limits could mean much higher rates. And when comparing auto insurance rates, know that having more price comparisons helps locate better pricing.

Take advantage of discounts

Car insurance companies don't list all their discounts very clearly, so we researched both the well known and the harder-to-find discounts you could be receiving.

  • Accident Waiver - Certain companies will allow you to have one accident before hitting you with a surcharge as long as you don't have any claims prior to the accident.
  • Life Insurance Discount - Some companies give a discount if you purchase a life insurance policy as well.
  • Safety Course Discount - Completing a defensive driving course could cut 5% off your bill if your company offers it.
  • College Student - Youth drivers who are attending college and don't have a car may qualify for this discount.
  • Own a Home - Owning a house in Albany can save you money because maintaining a house shows financial diligence.

Keep in mind that some of the credits will not apply to your bottom line cost. Most only reduce the price of certain insurance coverages like liability, collision or medical payments. So when it seems like it's possible to get free car insurance, it just doesn't work that way.

To choose companies with discount auto insurance rates in New York, click here.

Are auto insurance companies telling the truth?

Auto insurance companies such as State Farm, GEICO and Progressive consistently run ads on TV and radio. They all seem to have a common claim that you can save if you change your policy. How does each company claim to save you money? This is how they do it.

All companies have a preferred profile for the right customer that makes them money. For instance, a desirable insured might be between the ages of 40 and 55, has no prior claims, and has a short commute. A customer getting a price quote that hits that "sweet spot" will get the preferred rates and most likely will save when switching.

Potential customers who don't qualify for these standards will have to pay a higher premium and this can result in the customer not buying. The ads state "drivers who switch" not "people who quote" save that kind of money. This is how insurance companies can make the claims of big savings. Because of the profiling, you need to compare as many rates as you can. It's impossible to know which insurance companies will fit your personal profile best.

How to know if you need help

When buying the best auto insurance coverage for your personal vehicles, there isn't really a perfect coverage plan. Every insured's situation is different and your policy should reflect that. These are some specific questions can help discover whether your personal situation will benefit from professional help.

  • I have good health insurance, so how much medical payments coverage do I need?
  • What happens if I owe more than my vehicle is worth?
  • Should I rate my vehicle as pleasure use or commute?
  • Why does it cost so much to insure a teen driver in Albany?
  • Does my policy cover my teen driver if they drive my company car?
  • Are there companies who specialize in insuring high-risk drivers?
  • Is my dog or cat covered if injured in an accident?

If you can't answer these questions but you think they might apply to your situation, you may need to chat with a licensed agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area.

Additional detailed information is located at the New York Department of Financial Services website. Visitors are able to get help finding coverage, file complaints about an insurance agent or broker, discover disciplinary actions, and read enforcement actions against agents and companies.

New York auto insurance quotes

Do the work, save more money

Affordable auto insurance is attainable both online in addition to many Albany insurance agents, so you should be comparing quotes from both to have the best rate selection. Some insurance providers do not provide online price quotes and most of the time these small, regional companies sell through independent agents.

As you shop your coverage around, it's very important that you do not reduce coverage to reduce premium. In many cases, consumers will sacrifice collision coverage and learned later that saving that couple of dollars actually costed them tens of thousands. Your aim should be to get the best coverage possible for the lowest price.