Car Insurance in Lake Placid, NY - 8 Tricks to Save Money

Having to pay for overpriced car insurance can empty your bank account and make it impossible to make ends meet. Comparing price quotes is free and is an excellent way to tighten up your finances.

Lots of contend for your business, and because of this it can be hard to compare and get the best coverage at the lowest price

If you are paying for car insurance now, you should be able to lower your premiums substantially using these methods. Buying car insurance in Lake Placid is quite easy. Nevertheless, New York car owners do need to know the way insurance companies price insurance differently and use this information to your advantage.

Free Quotes for Car Insurance in Lake Placid, New York

There are several ways to compare rate quotes from local Lake Placid car insurance companies. One of the best ways to find the cheapest insurance rates is to use the internet to compare rates. This is very easy and can be done in just a few minutes using one of these methods.

The fastest way consumers can analyze rates is to use a rate comparison form (click to open form in new window). This form eliminates the need for separate forms to each individual car insurance company. One form gets rate comparisons from several companies.
A different way to compare rate quotes is spending the time to visit the website of each company and request a quote. For examples sake, let's say you want comparison quotes from , and . To find out each rate you need to take the time to go to each site and enter your policy data, which is why the first method is more popular.

To view a list of companies in Lake Placid, click here.
The hardest way to get comparison rates is driving to different Lake Placid agent offices. The ability to buy insurance online eliminates the need for an insurance agent unless you require the professional guidance only provided by licensed Lake Placid agents. Drivers can find lower rates online and still use a local agent and we'll cover that in a bit.

It doesn't matter which method you choose, just make darn sure you compare the exact same information with every price quote. If the quotes have higher or lower deductibles it's impossible to find the best deal in Lake Placid. Having just a slight variation in coverage limits could mean much higher rates. And when comparison shopping, having more price comparisons will enable you to find the best price.

Take advantage of discounts

Car insurance companies don't always advertise every discount in an easy-to-find place, so we break down some of the more common as well as the least known ways to save on car insurance.

Government Employees - Employees or retirees of the government may qualify you for a discount with a few car insurance companies.
Distant Student - Any of your kids who attend school more than 100 miles from home and do not have access to a covered vehicle may qualify for this discount.
Auto/Life Discount - Larger companies have lower rates if you buy auto and life insurance together.
Multiple Vehicles - Insuring multiple vehicles with the same company may reduce the rate for each vehicle.
Multiple Policy Discount - If you insure your home and vehicles with the same company you could get a discount of approximately 10% to 15%.
No Claims - Drivers who don't have accidents can save substantially when compared to accident-prone drivers.
Paperwork-free - A handful of insurance companies will give a small break simply for signing on their website.
Low Mileage Discounts - Fewer annual miles can earn better rates on cars that stay parked.

Consumers should know that many deductions do not apply to the overall cost of the policy. Most only reduce individual premiums such as comp or med pay. Even though it may seem like having all the discounts means you get insurance for free, companies don't profit that way.

To choose insurance companies who offer car insurance discounts in Lake Placid, click this link.

Are car insurance companies telling the truth?

Car insurance providers like Progressive, Allstate and GEICO continually stream ads on TV and radio. They all make the same claim of big savings after switching your policy. How do they all make the same claim?

All the different companies have a preferred profile for the right customer that makes them money. For example, a driver they prefer could be a mature driver, insures multiple vehicles, and has great credit. Any new insured who matches those parameters will get the preferred rates and most likely will cut their rates substantially.

Potential customers who don't qualify for the "perfect" profile will be quoted a more expensive rate which leads to business going elsewhere. The ads state "customers that switch" not "people who quote" save that kind of money. This is how insurance companies can confidently advertise the savings. This emphasizes why you need to compare as many rates as you can. It's just too difficult to predict which insurance companies will give you the biggest savings.

How to know if you need help

When buying adequate coverage for your personal vehicles, there is no "perfect" insurance plan. Everyone's situation is a little different so this has to be addressed. These are some specific questions may help you determine whether your personal situation would benefit from professional advice.

Why am I required to get a high-risk car insurance policy?
Do I pay less if my vehicle is kept in my garage?
What happens if I owe more than my vehicle is worth?
Am I covered when driving on a suspended license?
Am I covered when driving in Canada or Mexico?
Will I be non-renewed for getting a DUI or other conviction?
Does my personal policy cover me when driving my company car?
Is my nanny covered when driving my vehicle?

If it's difficult to answer those questions but a few of them apply, you might consider talking to a licensed agent. To find lower rates from a local agent, simply complete this short form or you can also visit this page to select a carrier

More tips and info about car insurance can be found at the New York Department of Financial Services website. Consumers can read industry bulletins, read enforcement actions against agents and companies, file complaints about an insurance agent or broker, and report car insurance fraud.

Final considerations

As you prepare to switch companies, never reduce coverage to reduce premium. There are too many instances where drivers have reduced uninsured motorist or liability limits only to regret that the small savings ended up costing them much more. Your strategy should be to get the best coverage possible at a price you can afford while still protecting your assets.

Cost effective car insurance can be purchased from both online companies in addition to many Lake Placid insurance agents, and you need to price shop both to have the best rate selection. There are still a few companies who do not provide online price quotes and these regional insurance providers work with independent agents.