How many times have you said it's time to compare cheaper insurance rates in Schenectady, NY? Did a good deal turn out to be high-priced insurance? Believe me, many Schenectady consumers are in the same pinch.

Unbelievable but true according to a study over 70% of consumers have stayed with the same insurance company for a minimum of four years, and virtually 40% of consumers have never compared insurance rates at all. New York insurance shoppers could save as much as $840 every year, but they don't believe how much money they would save if they moved their coverage to a different company.

Consumers have multiple car insurance companies to purchase coverage from, and though it is a good thing to be able to choose, more options can take longer to adequately compare rates.

Buy Schenectady car insurance online

To find cheaper rates, there are a couple of ways of comparing rates from many car insurance companies in New York. The simplest method to find competitive insurance rates consists of shopping online.

Comparing free rate quotes online is easy and it, takes the place of having to drive around to all the different Schenectady insurance agencies. Comparing car insurance rate quotes online has made agencies unnecessary unless you require the professional abilities of a local agency. However, consumers can get prices online but have your policy serviced through an agent.

Keep in mind that getting more free quotes will increase your chances of finding the best price.

The companies shown below are ready to provide free rate quotes in New York. If you want to find cheaper auto insurance in New York, we recommend you get price quotes from several of them in order to find the most affordable rates.

Insurance Rates for Popular Vehicles in Schenectady
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Silverado LT Crew Cab 4WD $1,004 $502 $84
Dodge Ram Crew Cab TRX 4WD $1,064 $532 $89
Ford Escape XLS 2WD $738 $369 $62
Ford F-150 XL Regular Cab 2WD $756 $378 $63
Ford Focus SES 4-Dr Sedan $906 $453 $76
Ford Fusion S 4-Dr Sedan $792 $396 $66
Honda Accord EX 2-Dr Coupe $790 $395 $66
Honda CR-V LX 4WD $870 $435 $73
Honda Civic LX 2-Dr Coupe $1,096 $548 $91
Honda Odyssey EX-L $1,002 $501 $84
Jeep Grand Cherokee Laredo 4WD $614 $307 $51
Nissan Altima 3.5 SR 4-Dr Sedan $1,096 $548 $91
Toyota Camry XLE $870 $435 $73
Toyota Corolla S $988 $494 $82
Toyota Tacoma Double Cab 4WD $850 $425 $71
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Price information does not factor in specific zip code location which can affect price quotes greatly.

Impact of speeding/accidents on auto insurance rates

The illustration below illustrates how traffic citations and accidents increase Kia Optima insurance rates for different age groups of insureds. The rates are based on a single female driver, comp and collision included, $250 deductibles, and no policy discounts are applied.

Kia Optima rates are for example purposes only. To get rates for your specific vehicle, click here.

How high should deductibles be?

One of the more difficult decisions when buying auto insurance is how high should the physical damage deductibles be. The comparisons below may help to conceptualize how much more you'll pay between high and low comp and collision deductibles. The first table uses a $100 deductible for comp and collision and the second price chart uses a $1,000 deductible.

GMC Acadia rates are for example purposes only. To get rates for your specific vehicle, click here.

GMC Acadia insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Acadia SL 2WD $198 $338 $264 $16 $80 $921 $77
Acadia SL AWD $228 $338 $264 $16 $80 $951 $79
Acadia SLE 2WD $228 $338 $264 $16 $80 $951 $79
Acadia SLE AWD $228 $412 $264 $16 $80 $1,025 $85
Acadia SLT 2WD $228 $412 $264 $16 $80 $1,025 $85
Acadia SLT AWD $258 $412 $264 $16 $80 $1,055 $88
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GMC Acadia insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Acadia SL 2WD $110 $178 $264 $16 $80 $648 $54
Acadia SL AWD $126 $178 $264 $16 $80 $664 $55
Acadia SLE 2WD $126 $178 $264 $16 $80 $664 $55
Acadia SLE AWD $126 $216 $264 $16 $80 $702 $59
Acadia SLT 2WD $126 $216 $264 $16 $80 $702 $59
Acadia SLT AWD $142 $216 $264 $16 $80 $718 $60
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New York minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Rate information does not factor in Schenectady location which can change prices noticeably.

Using the premium rates above, we can conclude that using a $100 deductible costs approximately $25 more each month or $300 each year than opting for the higher $1,000 deductible. Since the policyholder would be required to pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you average more than 36 months between claims, you would probably be better off if you opt for a higher deductible. Here's a better example of how this decision is made.

Average monthly premium for $100 deductibles: $82
Average monthly premium for $1,000 deductibles (subtract): - $57
Monthly savings from raising deductible: $25
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $25
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 36 months

One important caveat is that a higher deductible level means you will have to pay more out-of-pocket if you have a claim. You need enough extra savings in the event you need to pay more to get your vehicle repaired.

Insurance premiums by gender

The chart below shows the comparison of insurance prices for male and female drivers in Schenectady. The costs are based on no accidents or driving violations, comp and collision included, $100 deductibles, drivers are single, and no discounts are factored in on a Toyota Corolla XLE.

Toyota Corolla rates are for example purposes only. To get rate quotes for your specific vehicle, click here.

It may be expensive, but it's not optional

Despite the high cost, insurance serves a purpose in several ways.

First, just about all states have mandatory liability insurance requirements which means the state requires specific minimum amounts of liability insurance coverage in order to drive the car legally. In New York these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if you have a loan on your vehicle, almost all lenders will require that you have insurance to guarantee loan repayment. If coverage lapses or is cancelled, the lender will be forced to insure your vehicle at a significantly higher premium and force you to pay a much higher amount than you were paying before.

Third, insurance protects your vehicle and your assets. It will also provide coverage for hospital and medical expenses that are the result of an accident. Liability insurance also covers legal expenses if you cause an accident and are sued. If you have damage to your vehicle as the result of the weather or an accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage.

The benefits of having insurance outweigh the cost, particularly when you have a large claim. According to a 2015 survey, the average American driver is overpaying more than $850 per year so it's very important to do a rate comparison once a year at a minimum to make sure the price is not too high.

Get cheaper car insurance with discounts

Insuring your vehicles can cost a lot, but there's a good chance there are discounts that can dramatically reduce your bill. Certain credits will be shown at the time you complete a quote, but lesser-known reductions have to be inquired about before you get the savings.Car insurance discounts

Don't be surprised that some credits don't apply to your bottom line cost. A few only apply to individual premiums such as physical damage coverage or medical payments. If you do the math and it seems like adding up those discounts means a free policy, you aren't that lucky.

Insurance companies that possibly offer some of the discounts shown above include:

Check with each insurance company what discounts are available to you. All car insurance discounts might not apply in Schenectady. To find providers that offer discounts in Schenectady, click this link.

Local Schenectady insurance agencies

Certain consumers would prefer to talk to a local agent and that is not a bad decision One of the great benefits of comparing rates online is the fact that drivers can get lower rates and also buy local.

Insurance agents in SchenectadyBy using this simple form, your information is sent to insurance agents in Schenectady that can provide free Schenectady car insurance quotes for your insurance coverage. You never need to leave your computer as quotes are delivered to your email. You can most likely find cheaper rates AND an agent nearby. If you have a need to get a rate quote from one company in particular, you just need to find their quoting web page and fill out their quote form.

Finding the right company is decision based upon more than just the quoted price. Any good agent in Schenectady should know the answers to these questions.

When searching for local Schenectady agents, you should know the different types of agents from which to choose. Schenectady agents are either exclusive agents or independent agents.

Exclusive Agents

These type of agents can only provide one company's prices and some examples include State Farm, Allstate, and Farm Bureau. They generally cannot shop your coverage around so always compare other rates. Exclusive agencies are usually well trained in insurance sales and that enables them to sell even at higher rates.

Independent Insurance Agents

Independent agents are not required to write business for one company so they have the ability to put coverage through many different insurance companies and help determine which has the cheapest rates. If you are not satisfied with one company, your policy is moved internally and the insured can keep the same agent. When comparing rate quotes, you definitely need to contact independent agents to have the best price comparison.

Once you have received answers to your satisfaction and an acceptable price quote, it's possible that you found an insurance agency that meets the criteria to adequately provide insurance.

Insurance claim statistics

Do you own a high-claim vehicle? The claim statistics below outline the good and bad makes and models for overall likelihood of having to file claims for each type of coverage listed.

Lowest and Highest Bodily Injury Liability Claims by Vehicle Model
Lowest Claim Frequency Highest Claim Frequency
Subaru Forester Chevrolet Cruze
Fiat 500 Chrysler 200
Acura MDX Kia Rio
Subaru Outback Mitsubishi Lancer
Audi A6 Dodge Charger
Chevrolet Corvette Chevrolet Sonic

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Vehicle Models with the Lowest and Highest Collision Claims
Lowest Claim Frequency Highest Claim Frequency
Nissan Xterra Bentley Continental Flying Spur
Jeep Wrangler Ferrari 458
Ford Edge Maserati Granturismo
Mini Cooper Maserati Ghibli
Ford F-250 SuperCab Bently Continental GT
GMC Canyon Bently Continental GTC

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Vehicle Models with the Lowest and Highest Comprehensive Insurance Claims
Lowest Claim Frequency Highest Claim Frequency
Chevy Spark Porsche Panamera GTS
Chevy Silverado 2500 Maserati Quattroporte
Volvo V60 Audi S7
Nissan Leaf Bentley Continental GTC
Nissan Xterra BMW M6
GMC Sierra 2500 Mercedes-Benz S Class

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Medical Payment Insurance Claims by Vehicle
Lowest Claim Frequency Highest Claim Frequency
Chevrolet Corvette Kia Forte
Tesla Model S Chevrolet Sonic
Ford Expedition Nissan Sentra
Chevrolet Silverado 3500 Nissan Versa
Land Rover Range Rover Sport Hyundai Accent
Audi A4 Allroad Mitsubishi Mirage

Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Find affordable rates by being thorough

While you're price shopping online, it's a bad idea to skimp on coverage in order to save money. In too many instances, drivers have reduced liability coverage limits and learned later that saving that couple of dollars actually costed them tens of thousands. The aim is to buy enough coverage at the best price while not skimping on critical coverages.

We covered some good ideas how you can compare insurance prices in Schenectady. The key thing to remember is the more you quote Schenectady car insurance, the higher the chance of saving money. You may even be surprised to find that the most savings is with the smaller companies. Regional companies may have significantly lower rates on certain market segments as compared to the big name companies such as GEICO and State Farm.

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