Where to Get the Cheapest Car Insurance in New York
If you already have car insurance in New York, you may not think it's worth the effort to look somewhere else for cheaper rates. But you could be leaving a good amount of money on the table. You can save yourself hundreds of dollars a year by getting 3 or more quotes from different insurers.
That is a reliable strategy for getting the best deal. And that's what we help you do on this website.
We've already done the bulk of the research for you. We analyzed companies from around the state and compared customer satisfaction with pricing and service.
So all you have to do is apply and then start comparing quotes from one company to another. Take a look at our top rated companies below.
1. Geico - is one of the biggest insurers in the New York area and offers great pricing.
2. Nationwide - another big company in NY with good service and a simple process.
3. The Hartford - a little less known than the other two but a great choice.
Motor vehicle insurance is a requirement, not a luxury, and all cars registered in New York must have an insurance policy issued by an insurer in NY.
Depending on where in New York you live, you may be subject to high rates because metropolitan areas tend to have more accidents happen at an above average rate. That's why it's important to shop around and get the coverage you need without the coverage you don't need.
Taking this approach will help to keep your costs down.
The cheapest auto insurance quotes in New York will include all of the basic state requirements, and in many cases, some additional coverage to protect you financially if you get in an accident. You just need to make sure you don't get any extra coverage that isn't necessary.
New York State Car Insurance Laws
Property damage liability: The state of New York requires you carry a minimum of $10,000 coverage for damage you cause to other people's property in an accident for which you were negligent or at fault.
Most often this covers repairs to or replacement of another car, but it can also cover damage to buildings, fences, and other items. Bodily injury liability: You must purchase a minimum of $25,000 of liability coverage for injuries to one person, $50,000 for death to one person, $50,000 for injuries to two or more people, and $100,000 for death to two or more people.
Uninsured motorist coverage: You need at least $25,000 per person and $50,000 per accident of coverage that will treat injuries to you and passengers if the other driver would be liable but is uninsured.
No-fault coverage: Because New York is a no-fault auto insurance state; you also need to purchase at least $50,000 per person of personal injury protection coverage, also called no-fault coverage.
This coverage allows you and any passengers in your vehicle to make claims for several types of economic losses you may have as a result of an accident, regardless of who is determined to be at fault.
This coverage can be used for:
- Medical bills for treating injuries and completing necessary rehabilitation
- Recouping up to eighty percent of lost wages, with a maximum of $2,000 per month for three years after the accident has occurred
- Reimbursing costs for household help, up to $25 per day, when help is required because of injuries
- An additional death benefit of $2,000 to be paid to the estate of anyone who dies in a motor vehicle accident
How to build the best car insurance plan in New York...
When you are shopping for cheap car insurance, start with the minimum state requirements as your baseline, and then add coverage that you think will be financially advantageous for you.
Each type of coverage you add will increase your insurance premiums, but it will also decrease your potential costs if you get in an accident. Use the following steps to help you weigh the costs and benefits as you build your policy.
- Increase your liability insurance coverage if you have assets to protect. You could be personally sued for any damages you cause that exceed your limits, and many accidents do cause injuries and property damage over the minimum limits. Therefore, if you want to protect your assets, including investment accounts, your home, or cash reserves, purchase as much additional liability insurance as you can comfortably afford.
- Add comprehensive and collision coverage if you would have financial difficulty replacing your car if it were to be totaled. These types of coverage pay for repairs or replacement, even if you were at fault. You still have to pay a deductible and the higher the deductible, the lower your premiums will be. If you lease your car or used a loan to purchase it, the financing company will typically require you to have comprehensive and collision insurance.
- Get auto insurance rates from several different companies, and consider not only the cost, but also the insurer's reputation. It sometimes may be worth paying a little more to be insured by a company you trust to provide excellent service.
Which New York car insurance companies
So you've got a cheap quote from a company you are seriously considering.
But how do you know whether an insurer will follow through on its promises when you need them most... when you get into an accident? The state of New York, like many other states, has a rating system for the car insurance companies that operate in NY.
The rating system is based on the number of complaints made to the Department of Financial Services about a certain provider compared to how many people the firm insures over a two year period. The complaints in which DFS rules in favor of the firm are not counted.
There are roughly 169 companies doing business in the state and Sentry Insurance A Mutual Company ranks last. Meritplan Insurance Company ranks second to last. The top 3 companies with the least amount of complaints compared to the premiums they write are: Kemper Independence Insurance Company, Progressive Northwestern Insurance Company and the Great Northern Insurance Company.
You can take a look at the entire list by going to http://www.dfs.ny.gov/consumer/arkidx.htm and clicking on the most recent ranking. But remember, these are only complaints that were filed with DFS and don't include the complaints filed directly with the insurer.
Some people just complain directly with the company and don't lodge their grievance with the appropriate government agency (in this case DFS). So if you do happen to have a complaint about an insurer, make sure you contact the right agency. This helps everyone avoid the bad companies.
Other things you can do to see if auto insurance companies in New York are worthy of your business is to talk to your friends and read what others are saying about the insurer online.
Save more in your city or town...
Are you an advertising exec in NYC? How about a carpenter in Rochester or Buffalo? Maybe you're an electrical engineer on Long Island? Wherever you call home, you can cut your auto insurance rates.
And it's much easier than most people think. Just follow the guidelines listed above and you'll be well on your way to saving more. And always keep in mind that comparing and getting quotes from multiple insurers is one of the most important strategies for accomplishing your goals.
So whether it's the Bronx, Brooklyn, Yonkers, Albany or somewhere else in NY, trimming your costs on car insurance comes down to your willingness to do a little bit of research.
And thanks to the web and this site, the
research has become much more easy. So there you have it, you now have
everything you need to get the right amount of coverage at the right