How to Know You're Wasting Money for Auto Insurance in Morrisonville

Did you fall for a flashy sales pitch and buy an underperforming, overpriced auto insurance policy? Believe me, you are not the only one feeling buyer's remorse.

There are many to buy insurance from, and although it's nice to be able to choose, it makes it harder to compare rates.

It's important to check auto insurance prices every six months since insurance rates are constantly changing. Despite the fact that you may have had the best deal on your last policy you can probably find a better price now. Starting right now, block out anything you think you know about auto insurance because it's time to teach you the only way to save money, get proper coverage and the best rates.

Buying car insurance in Morrisonville is easy if you know what you're doing. If you currently have a car insurance policy, you should be able to save some money using these methods. But New York vehicle owners do need to know the way companies compete online and take advantage of how the system works.

What determines how much you pay?

Consumers need to have an understanding of the rating factors that help determine auto insurance rates. Knowing what controls the rates you pay allows you to make educated decisions that can help you get much lower annual insurance costs.

The following are some of the factors companies use to determine your rates.

More than one policy can earn a discount - Many auto insurance companies give discounts to people who carry more than one policy in the form of a multi-policy discount. Even though this discount sounds good, you still need to comparison shop to make sure you are getting the best deal. You may still find a better deal by buying insurance from more than one company.
Do you know your deductibles? - Coverage for physical damage, otherwise known as comp (or other than collision) and collision, protects your car from damage. Examples of covered claims are a windshield shattered by a rock, damage from fire, and windstorm damage. Physical damage deductibles are the amount of money you are required to spend if you file a covered claim. The more money you're willing to pay, the less your auto insurance will be.
With age comes lower rates - Teenage drivers in New York are known to be less responsible when behind the wheel so they pay higher auto insurance rates. Older insureds tend to be more responsible, statistically cause fewer accidents and receive fewer citations.
Keep rates low by being claim-free - Insurance companies in New York give lower rates to people who file claims infrequently. If you tend to file frequent claims, you can look forward to either a policy non-renewal or much higher rates. Your insurance policy is intended to be relied upon for the large, substantial claims.
Don't sacrifice liability coverage - Liability coverage provides coverage in the event that a jury decides you are liable for damages from an accident. It will provide legal defense coverage which can be incredibly expensive. Liability is cheap when compared with rates for comp and collision, so drivers should carry high limits.
Theft deterrents lower rates - Choosing a vehicle with an alarm system can get you a discount on your auto insurance. Theft prevention features such as GM's OnStar, tamper alarm systems and vehicle immobilizers can thwart your vehicle from being stolen.

Take advantage of discounts

Companies offering auto insurance don't list every available discount very clearly, so here is a list some of the best known as well as the least known ways to save on auto insurance.

Theft Prevention Discount - Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and will save you 10% or more.
Multiple Vehicles - Insuring multiple vehicles with the same company may reduce the rate for each vehicle.
Resident Student - Any of your kids who live away from home and do not have access to a covered vehicle may qualify for this discount.
Homeowners Discount - Being a homeowner may earn you a small savings due to the fact that maintaining a home requires personal responsibility.
Federal Government Employee - Employees or retirees of the government could cut as much as 10% off with certain companies.
Discount for Good Grades - This discount can earn a discount of 20% or more. The discount lasts well after school through age 25.
Organization Discounts - Affiliation with a qualifying organization could trigger savings on your policy.
Drivers Education - Cut your cost by having your teen driver take driver's ed class if it's offered in school.
Driver Safety - Successfully completing a course teaching defensive driving skills could possibly earn you a 5% discount if your company offers it.
New Vehicle Savings - Adding a new car to your policy can cost up to 25% less because new vehicles have to meet stringent safety requirements.

Drivers should understand that many deductions do not apply to all coverage premiums. Most cut individual premiums such as comprehensive or collision. So despite the fact that it appears all the discounts add up to a free policy, companies wouldn't make money that way.

To choose providers who offer auto insurance discounts in New York, click this link.

Are auto insurance companies telling the truth?

Companies like Allstate and Progressive continually stream ads on TV and radio. All the ads make the same claim that you'll save big after switching to them. How does each company say the same thing?

Insurance companies are able to cherry pick for the type of driver that makes them money. An example of a preferred risk might be profiled as between the ages of 30 and 50, has no driving citations, and has great credit. A propective insured who matches those parameters gets the lowest rates and most likely will save when switching.

Drivers who don't qualify for these standards will be charged higher premiums which leads to business not being written. The ads say "customers that switch" not "people who quote" save money. That's the way companies can advertise the savings. That is why you should get as many quotes as possible. It's not possible to predict which auto insurance company will fit your personal profile best.

Learn more about New York auto insurance

More detailed New York auto insurance information is available at the New York Department of Financial Services website. New York drivers can read consumer alerts, report car insurance fraud, read enforcement actions against agents and companies, and download brochures.

The best insurance company isn't always the cheapest

When you buy insurance online, never buy poor coverage just to save money. Too many times, someone sacrificed comprehensive coverage or liability limits to discover at claim time that the few dollars in savings costed them thousands. The aim is to purchase plenty of coverage at a price you can afford, not the least amount of coverage.

Budget-conscious auto insurance can be bought on the web and with local Morrisonville insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. There are still a few companies who do not offer online price quotes and many times these smaller companies only sell through independent insurance agents.