Auto Insurance Quotes NY

Auto Insurance Quotes NY:  New York traffic conditions can be tough to deal with and with so many cars on the streets, accidents are inevitable. With the right auto insurance, you can significantly mitigate the impact a road accident would have on your finances. However, with so many auto insurance quotes NY has to offer, it is really tough to choose just the right one for you. Coverage is one of the most important factors you should consider, in order to get just the auto insurance you need.

Auto Insurance Quotes NY: 
 Find Out How Much Coverage You Need

What is Your Budget?

Auto Insurance Quotes NY: the first thing to consider is how much you can spend on auto insurance. If you are on a tight budget, you don't have a whole lot of flexibility so opting for the most important coverage limits is your best choice. That being said, it is important to note that the more expensive auto insurance quotes NY you've set your sight on, the less money you would have to pay, should an accident occur.

What is Your Vehicle?

Auto Insurance Quotes NY: if your vehicle is purchased with financing provided by a leasing or loan company, you might be obliged to get collision or comprehensive coverage. If this is the case, then also consider throwing gap coverage in the mix, which would provide invaluable protection for those with a car leasing. On the other hand, if you have an old and cheap vehicle, going for the expensive auto insurance quotes in NY would only mean a waste of your money. You don't want your insurance payments to exceed what you would pay for repair works. Now, if you own an exotic or brand new sports car, getting a cheap insurance could potentially lead to a lot of expenses for you later on.

The Type of Driver You Are:

When looking at the auto insurance quotes NY companies have to offer, you must carefully and honestly think about your driving habits, you experience and your history as a driver. If you barely use your car, then you don't really need the most expensive insurance as you are much less likely to experience a road accident. However, if you spend a lot of time in your car or your driving record shows that you often get into trouble, then opting for a more complete and expensive auto insurance quotes in NY would probably be your best choice.

New York is a Big Place:

Auto Insurance Quotes NY: few have the luxury to own a garage in NY, and if you are one of them, then your vehicle are certainly more protected from theft or collision. And where exactly do you live in New York? Some places are certainly more dangerous than others and thefts there are more likely to happen.

Auto Insurance Quotes NY:

Auto Insurance Is Costlier at Lower Incomes, Study Says - New York Times

Being on the lower end of the wage scale can mean paying much more for car insurance, even for good drivers.

Factors like renting rather than owning a home, holding just a high school diploma and working an hourly wage job can mean substantially higher costs for car insurance, according to a new analysis of online auto insurance quotes by the Consumer Federation of America.

Auto Insurance Quotes NY: insurers don’t explicitly use income as a factor in setting rates, but companies often consider social and economic factors like education and occupation that serve as surrogates for income, J. Robert Hunter, the federation’s director of insurance, said in a phone interview with reporters this week to discuss the findings.

As a result, he said, a blue-collar worker with a clean driving record pays an average of 59 percent more, or $681 a year, than a white-collar worker with a similar record. In some markets, the federation’s analysis found, the difference in rates is even larger.

“The current situation for low-income drivers is intolerable,” Mr. Hunter said.

The study sought online quotes for basic liability insurance for four hypothetical drivers in 15 cities from the websites of five major insurers: Geico, Progressive, Allstate, Farmers and State Farm. 

(Liability insurance, which covers drivers if they cause damage to other cars and people, is required by all states except New Hampshire.) The study sought quotes for both a male and a female driver who were married, held master’s degrees and who worked white-collar jobs. (The man was assigned the job of a manufacturing executive, while the woman was a bank executive.) Each owned a car and carried insurance during the previous six months.

Auto Insurance Quotes NY: then, keeping constant information like the applicant’s driving record, address and ZIP code (the same address was used in each city), the study sought quotes for drivers who were single, held high-school diplomas and rented their homes. (The man’s occupation was changed to a factory worker and the woman’s was changed to bank teller.) The researchers also indicated that the hypothetical applicants had not owned a car for the previous six months, and so they had not carried car insurance.

The analysis found that the average premium for all drivers with indicators of high socioeconomic status was just over $1,140, while the average quote for the low-economic-status drivers was $1,825.

Auto Insurance Quotes NY: two insurers, Geico and Progressive, charged the largest average percentage increases to lower economic status drivers: Geico charged a 92 percent increase and Progressive, 80 percent. Allstate and Farmers charged the largest average dollar increase; Allstate’s was $915 and Farmers was $900.

State Farm charged smaller average increases: 13 percent, or $217 a year.

The largest increases because of the change in socioeconomic data occurred in Atlanta; Boston; Houston; Jacksonville, Fla.; Jersey City; Minneapolis, and the borough of Queens in New York City. All averaged more than $700 a year.

In some cases, the online system declined to give a quote to the low-status driver, the analysis found. Or it offered a quote — but from the insurer’s high-risk affiliate, which generally handles customers with blemished driving records.

David Snyder, vice president of policy development and research at the Property Casualty Insurers Association of America, an industry group, said the federation’s study distorted the way auto insurance works for consumers. All factors used in setting rates are “proven to increase the accuracy” of predicting the likelihood of a loss, he said, so that riskier drivers pay more. “Insurance companies rate on the basis of risk,” he said, “subject to insurance regulatory approval.”

Mr. Snyder said the association would prefer to focus attention on reducing risky behavior, like distracted driving, that is causing a sharp rise in severe traffic accidents and driving up insurance costs.

Auto Insurance Quotes NY: the consumer federation is urging state legislators to adopt rules that would force insurers to emphasize driving-related factors, like tickets and accidents, when setting premiums.

Here are some questions and answers about auto insurance:

Q. How can I get the best rate on car insurance?

Mr. Hunter advises consumers to get quotes from different companies, since rates can vary markedly from one insurer to another. In Minneapolis, for example, the quote from State Farm for a “low economic status” male driver was $994 a year, compared with $3,626 from Farmers. Make sure you are dealing with the insurer’s “standard” insurance division, he said, and not its high-risk affiliate. With the high-risk division, he said, “If you’re a good driver, you’ll pay too much.”

But Birny Birnbaum, executive director of the Center for Economic Justice, said there were limits to the benefits of shopping around. It is often difficult for consumers to obtain information to help evaluate which insurer offer is best overall. Mr. Birnbaum said most states offered limited data about how quickly insurers resolve claims or on the proportion of claims that end up in litigation. State insurance regulators, he said, must become more assertive in collecting such information. The National Association of Insurance Commissioners offers some complaint data on its website, as well as links to state insurance websites.

Q. Do insurers offer any discounts?

The Insurance Information Institute, an industry group, recommends asking about discounts available for having multiple lines of insurance with the same company (like auto and homeowner’s), for driving limited distances or for taking a safe driving course. Members of the military also may be eligible for discounts.

It’s also possible to lower your premium by raising your deductible — the amount you will owe out of pocket for a claim — or dropping some kinds of coverage from an older car.

Q. Where can I find information about shopping for auto insurance?

Auto Insurance Quotes NY:

The National Association of Insurance Commissioners, representing state insurance regulators, offers a consumer guide on its website.

 Auto Insurance Quotes NY:

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