Cheapest Car Insurance Quotes for High Risk Drivers in New York

The words “low-cost” and “insurance” really don’t belong together, specifically when searching for the best car insurance for high risk drivers. To help control this cost, let’s open your eyes to a few of the factors that determine insurance rates, and find some ways to reduce the price of your next policy.

The type of vehicle you are buying coverage for is one of the largest considerations when shopping around for the best car insurance for high risk drivers. Vehicles with higher performance, poor crash test ratings, or an increased likelihood of liability claims will cost substantially more to insure than more economical and safe models.

The table below illustrates coverage rates for some of the cheapest vehicles to buy coverage for.

Prices above based on single male driver age 40, two speeding tickets, two at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include homeowner, multi-vehicle, and multi-policy. Rate quotes do not factor in specific location which can increase or decrease prices significantly.

Based upon these rates, you can presume that vehicles like the Ford Escape, Honda CR-V, Chevrolet Traverse, Hyundai Tucson, and Kia Forte should be some of the most affordable vehicles to insure for high risk drivers. The cost of auto insurance will trend higher because there is more inherent risk for high risk drivers, but in general those particular models will most likely have the cheapest auto insurance rates possible.

For high risk drivers, one of the more important factors that help determine the amount you pay each year for auto insurance is your address in New York. Areas with high crime rates or more dense population like New York, Freeport, and Yonkers tend to pay slightly more, whereas less populated areas benefit from having to pay less for coverage.

The table below ranks the most expensive places in New York for high risk drivers to buy an auto insurance policy in.

Rate information is estimated as specific location information can affect auto insurance rates greatly.

Finding decent, low-cost insurance is tough enough, and determining which company has the cheapest insurance rates for high risk drivers calls for a bit more work. Insurance premiums may be much higher than the average rate in New York, with the increase attributed to the potential for higher claims related to selling coverage for high risk drivers, but economical insurance should be attainable if you shop around.

Each auto insurer has a different formula to set their prices, so we’ll go over the lowest cost insurance companies in New York. Keep in mind that New York insurance rates are impacted by many things which can significantly increase or decrease the cost of a policy. That is why it is critical to compare rates when trying to get the most economical auto insurance rates for high risk drivers. Auto insurance prices can be altered by many things and change frequently, so the best option six months ago may now be one of the higher cost companies.

Best Cheap Insurance Rates for Risky Drivers

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USAA offers some of the lowest car insurance rates in New York at around $1,163 annually. Erie, Utica National, Progressive, and Travelers also are some of the most economical New York insurance companies.

As the example above demonstrates, if you currently have a policy with Progressive and switched to Erie, you could see an annual premium reduction of approxmiately $257. Insureds with Travelers might save as much as $274 a year, and Allstate customers might cut rates by $301 a year.

Understand that those estimates are averaged for all drivers and vehicles in New York and are not factoring in a rate surcharge for high risk drivers. So the insurer that fits you best may not even be in the rate chart shown above. That illustrates why you need to get quotes using your own driver data and vehicle information.

The diagram below shows how choosing a deductible can change annual premium costs when trying to find cheap insurance for high risk drivers. Data assumes a married female driver, comp and collision included, and no policy discounts are applied.

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As shown above, a 50-year-old driver could lower their policy premium by $250 a year by increasing from a $100 deductible up to a $500 deductible, or save $378 by using a $1,000 deductible. Younger drivers, such as the 20-year-old example, have the ability to save as much as $628 every year by using a higher deductible.

When choosing a higher deductible, it will now be necessary to have enough savings set aside to be able to pay the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.

How violations and accidents impact rates

The common sense way to snag the cheapest car insurance for high risk drivers in New York is to be a good driver and avoid accidents and traffic violations. The information below illustrates how violations and accident claims can drive up annual premium costs for different insured age categories. Data assumes a single female driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.

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In the example above, the average cost of auto insurance in New York per year with no violations or accidents is $1,195. Add in one speeding ticket and the average cost surges to $1,355, an increase of $160 each year. Then include two accidents along with the one speeding ticket and the annual cost of insurance for high risk drivers increases to an average of $2,781. That’s an increase of $1,586, or $132 per month, just for being a careless driver!

Cheapest insurance quotes for high risk drivers

Drivers have a lot of different ways to purchase insurance in New York, but the most popular ways are using an exclusive insurance agent like State Farm or Allstate, an independent or non-exclusive agent, or direct either online or via phone.

Each way has the same basic steps, but buyers need to know the differences in how they price policies.

Independent agents write business for many companies and can compare coverage rates with each one. These types of agencies do not write with just one company and can quote rates with many companies, which can give you a better chance of finding cheaper coverage. If they find a lower price, they simply move the coverage in-house and you stay with the same agent.

A captive, or exclusive, agent is limited to a single company such as Allstate and Liberty Mutual agents. Exclusive agents cannot give you multiple price quotes, so if finding the cheapest insurance is your goal, you will want to shop around.

Opting to purchase insurance direct means you bypass either of the other two types of agents and instead shop from a direct company like Progressive. This insurance option may be preferred by families who do not need high amounts of coverage and have a good understanding of the limitations of insurance.

So which way is best to find the cheapest car insurance for high risk drivers in New York? The obvious answer would be buying from a direct company results in the cheapest price since no commissions are paid to an agent, but that turns out to not be true. A valid argument could also be made that buying insurance from an independent agent is the best way to save due to increased selection, but that assumption is also not accurate. In the right set of circumstances, exclusive agents may have very competitive prices that are the lowest in New York.

Because there is so much variation in insurance prices, the best way to ensure you are not overpaying for insurance is to compare rate quotes from as many companies as possible. Set aside the time to get quotes from all three to get an idea of which is cheapest. We compiled a list of companies with some of the cheapest online rates that you can click here to view.

How to find the cheapest car insurance for high risk drivers in New York

Below you’ll find a few thrifty suggestions that can help New York drivers buy more affordable coverage.

• Drive safe vehicles
• Raise deductibles to save money
• Do not get into accidents that are your fault
• Be a safe driver
• Good credit can help you save money
• Compare rates and switch if you can find a better deal

The last tip in the list is especially necessary, as we emphasized in this write-up. Insurance rates can change significantly in a year, so you should be ready to change insurance companies if a more affordable rate is found.

Having a favorite company is great, but it isn’t a good idea if that inflexibility results in costing you thousands of dollars over the life of your policy. In just a couple of minutes you could compare rates to find cheaper car insurance for high risk drivers.