How to Know You're Paying Too Much for Car Insurance in Lakewood

No one looks forward to paying for car insurance, especially when their premiums are too high.

Big companies like GEICO and Progressive constantly bombard you with ad campaigns and consumers find it hard to sift through the bull and effectively compare rates to find the best deal.

If you have car insurance now, you stand a good chance to be able to cut costs considerably using this information. Finding affordable coverage in Lakewood is quite easy. Nevertheless, New York car owners do need to know the way companies sell online because it can help you find the best coverage.

Tips to Get Lower Lakewood Rates

Consumers need to have an understanding of some of the elements that help determine your car insurance rates. Having a good understanding of what determines base rates empowers consumers to make smart changes that will entitle you to lower car insurance prices.

The following are a partial list of the pieces used by your company to calculate prices.

  • Too many car insurance claims drive up costs - If you file claims often, you can look forward to either a policy non-renewal or much higher rates. Companies in New York provide cheaper rates to policyholders who do not file claims often. Auto insurance is meant to be used in the event of larger claims.
  • How's your driving record? - Drivers who don't get tickets have lower premiums compared to drivers with tickets. Just one citation can bump up the cost twenty percent or more. If you have flagrant violations like DUI or reckless driving may find they need to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to keep their license.
  • What are your deductibles? - Your deductibles define the amount you are required to spend before your car insurance pays a claim. Physical damage insurance, also known as collision and other-than-collision, covers damage that occurs to your car. A few examples of covered claims are running into the backend of another car, damage caused by hail, and windstorm damage. The more you have to pay, the lower your rates will be.
  • Do you need those extra coverages? - There are a ton of additional coverages that can waste your money on your policy. Insurance for vanishing deductibles, accident forgiveness and additional equipment coverage are examples of these. They may seem good when you first buy your policy, but now you might not need them so eliminate the coverages to reduce your premium.

Be sure to get all your discounts

Companies don't always publicize every discount in a way that's easy to find, so we researched some of the more common as well as the least known car insurance savings.

  • Federal Employees - Employees or retirees of the government can save as much as 8% with a few car insurance companies.
  • Good Student - This discount can get you a discount of up to 25%. Earning this discount can benefit you well after school through age 25.
  • Homeowners Savings - Simply owning a home may trigger a car insurance policy discount due to the fact that maintaining a home shows financial diligence.
  • Passive Restraint Discount - Cars that have air bags or motorized seat belts can qualify for discounts of up to 25% or more.
  • Drivers Ed for Students - Cut your cost by having your teen driver successfully complete driver's ed class if it's offered in school.
  • Paperwork-free - Certain companies will give a small break simply for signing digitally online.
  • Multiple Vehicles - Buying insurance for multiple vehicles with the same company may reduce the rate for each vehicle.

It's important to understand that most credits do not apply to the entire policy premium. Most only apply to individual premiums such as comp or med pay. So even though it sounds like you can get free auto insurance, it doesn't quite work that way.

To choose insurance companies who offer car insurance discounts in Lakewood, follow this link.

Is there truth in advertising?

Car insurance providers like Progressive, Allstate and GEICO continually stream television and radio advertisements. They all say the same thing of big savings after switching your coverage to them. How can each company make the same claim?

All companies have a certain "appetite" for the type of customer that makes them money. For instance, a driver they prefer could be between the ages of 30 and 50, a clean driving record, and has a short commute. A customer who fits that profile is entitled to the best price and is almost guaranteed to save when they switch companies.

Potential insureds who don't measure up to the requirements will be quoted more money which usually ends up with business going elsewhere. Company advertisements say "customers that switch" but not "drivers who get quotes" save that much money. That is how insurance companies can confidently make the claims of big savings. This emphasizes why you should compare many company's rates. Because you never know which company will fit your personal profile best.

How do I know if I need professional advice?

When buying the best car insurance coverage for your vehicles, there really is not a best way to insure your cars. Everyone's needs are different and a cookie cutter policy won't apply. For example, these questions may help highlight whether or not you might need an agent's assistance.

  • Am I covered if I drive in a foreign country?
  • Do I need to file an SR-22 for a DUI in New York?
  • Does my policy cover my teen driver if they drive my company car?
  • Can I rate high risk drivers on liability-only vehicles?
  • Is rental equipment covered for theft or damage?
  • Does my liability insurance cover pulling a trailer or camper?

If you don't know the answers to these questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier

More tips and info about car insurance is located at the New York Department of Financial Services website. Consumers can download brochures, file complaints about a company, report car insurance fraud, and discover disciplinary actions.

New York car insurance

Final considerations

We just showed you a lot of information how to save on car insurance. The most important thing to understand is the more price quotes you have, the better your comparison will be. Consumers may even find the lowest rates come from a small local company. Some small companies can often provide lower rates in certain areas compared to the large companies like .

Low-cost car insurance can be sourced from both online companies as well as from independent agents in Lakewood, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance providers don't offer online price quotes and these small, regional companies work with independent agents.