Are you sick of overpaying and want lower-priced insurance rates in Albany, NY? I doubt anyone loves paying for insurance, especially when they are paying too much.

It's hard to fathom, but nearly 70% of consumers have remained with the same insurance company for at least the last four years, and approximately 40% of consumers have never even compared rates from other companies. Many consumers in New York could save approximately $840 every year by just comparing quotes, but they feel it's too difficult to compare other rate quotes. Companies like Allstate, Progressive and GEICO constantly blast consumers with catchy ads and consumers find it hard to ignore the flying pigs and cute green geckos and effectively compare rates to find the best deal.

It's a great practice to do price comparisons every six months because insurance prices are rarely the same from one policy term to another. Despite the fact that you may have had the best rates on insurance a few years ago the chances are good that you can find a lower premium rate today. Forget all the misinformation about insurance because we're going to demonstrate one of the easiest ways to eliminate unnecessary coverages and save money on insurance.

If you have a policy now or just want to save money, you can follow these tips to reduce the price you pay without having to cut coverage. Finding the cheapest coverage in Albany is actually quite simple. Smart buyers just need to learn the quickest way to compare rates online.

All major auto insurance companies such as Progressive, GEICO, Allstate and State Farm allow consumers to get insurance quotes online. Getting online quotes is quite easy as you just enter your coverage information as detailed in the form. Once entered, their rating system will obtain your credit score and driving record and provides a quote based on the information you submitted. Using the web to get rate quotes helps simplify price comparisons, and it's also necessary to have as many quotes as possible in order to find the best rate possible.

To quickly get comparison pricing now, compare rate quotes from the providers shown below. If you have coverage now, it's recommended you input coverages and limits exactly as they are listed on your policy. This helps ensure you are getting a price comparison based on identical coverages.

The companies shown below have been selected to offer free rate quotes in Albany, NY. If multiple companies are listed, we recommend you get rate quotes from several of them in order to find the most competitive rates.

Insurance Rates for Popular Vehicles in Albany
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Silverado LT Crew Cab 4WD $974 $487 $81
Dodge Grand Caravan Crew $898 $449 $75
Dodge Ram Quad Cab Sport 4WD $812 $406 $68
Ford Escape Limited 2WD $682 $341 $57
Ford Explorer Limited 4WD $944 $472 $79
Ford F-150 STX Regular Cab 2WD $774 $387 $65
Ford Focus SE 4-Dr Sedan $714 $357 $60
GMC Sierra SLE Crew Cab 2WD $676 $338 $56
Honda Accord EX-L 2-Dr Coupe $952 $476 $79
Honda CR-V LX 2WD $680 $340 $57
Honda Civic LX 2-Dr Coupe $1,120 $560 $93
Jeep Grand Cherokee Laredo 4WD $712 $356 $59
Nissan Altima 3.5 SR 2-Dr Coupe $996 $498 $83
Toyota Camry XLE $852 $426 $71
Toyota Corolla XLE $952 $476 $79
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Data variables include married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New York minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Table data does not factor in specific location information which can alter prices significantly.

Price comparison of only insuring for liability

The information below shows the comparison of Toyota Camry car insurance rates with full coverage and liability only. The information is based on a clean driving record, no at-fault accidents, $1,000 deductibles, married female driver, and no additional discounts are factored in.

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

When to drop comprehensive and collision coverage

There is no definitive guideline of when to exclude full coverage on your policy, but there is a guideline you can consider. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let's assume your Toyota Camry settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after paying your policy deductible. If premiums are more than $300 a year for physical damage coverage, then you might consider buying liability only.

There are a few situations where dropping physical damage coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not remove full coverage.

Bad driving habits will cost you more

The diagram below demonstrates how traffic citations and at-fault accidents drive up Chevrolet Tahoe annual premium costs for different age groups of insureds. The information is based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.

Chevrolet Tahoe rates are for example purposes only. To get rates for your specific vehicle, click here.

Car insurance deductibles

One of the most common car insurance questions is which deductible level should you buy. The tables below lay out the cost difference when you buy lower versus higher deductibles. The first rate estimation uses a $100 deductible and the second price chart uses a $1,000 deductible.

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

Toyota Camry insurance premium rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $228 $412 $264 $16 $80 $1,025 $85
Camry SE $228 $484 $264 $16 $80 $1,097 $91
Camry XLE $228 $484 $264 $16 $80 $1,097 $91
Camry Hybrid $258 $484 $300 $18 $90 $1,175 $98
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Toyota Camry insurance premium rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Camry LE $126 $216 $264 $16 $80 $702 $59
Camry SE $126 $256 $264 $16 $80 $742 $62
Camry XLE $126 $256 $264 $16 $80 $742 $62
Camry Hybrid $142 $256 $300 $18 $90 $806 $67
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Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New York minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Estimates do not factor in specific Albany garaging location which can change auto insurance rates greatly.

Based on the data above, we can derive that using a $100 deductible will cost you roughly $28 more each month or $336 each year than quoting the higher $1,000 deductible. Due to the fact that you would have to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you go at least 32 months between claims, you would save more money by selecting a higher deductible.

Calculation for determining deductible levels

Average monthly premium for $100 deductibles: $91
Average monthly premium for $1,000 deductibles (subtract): - $63
Monthly savings from raising deductible: $28
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $28
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 32 months

Best reasons to buy auto insurance in New York

Despite the fact that auto insurance is not cheap in Albany, insuring your vehicle may be required for several reasons.

The benefits of carrying adequate insurance more than cancel out the cost, particularly when you have a large claim. Despite what companies tell you, the average driver is overpaying over $820 a year so it's recommended you shop around at least once a year to help ensure money is not being wasted.

Buy more affordable car insurance with these tips

One of the most helpful ways to save on car insurance is to to have a grasp of the different types of things that play a part in calculating car insurance rates. When you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that may reward you with lower rates.

The list below includes some of the items that factor into premiums.

These discounts can lower insurance rates

Insurance is neither fun to buy or cheap, but you might find some hidden discounts that you may not even know about. Many discounts should be triggered when you purchase, but lesser-known reductions have to be requested specifically prior to receiving the credit. If you check and find you aren't receiving every discount you qualify for, you may be paying too high a price.Save money with discounts

Keep in mind that some of the credits will not apply to all coverage premiums. Most cut individual premiums such as physical damage coverage or medical payments. Just because it seems like it's possible to get free car insurance, insurance companies wouldn't stay in business. Any qualifying discounts will help lower your policy cost.

Insurance companies that may offer quotes with these discounts include:

Double check with each insurance company which discounts they offer. Some discounts might not apply in Albany. To view insurance companies that offer discounts in New York, click here to view.

Claim statistics by make and model

What are the chances of a claim? The statistics below list the highest and lowest manufacturer models for likelihood of filing claims orgainized by coverage.

Bodily Injury Liability Claims by Vehicle Model
Lowest Claim Amount Highest Claim Amount
Subaru Outback Hyndai Accent
Chevrolet Corvette Kia Optima
Mercedes-Benz SL Class Chevrolet Sonic
Volvo XC60 Dodge Charger
Subaru Forester Mitsubishi Mirage
Acura MDX Chevrolet Cruze

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Lowest and Highest Collision Claims by Vehicle Make and Model
Lowest Claim Amount Highest Claim Amount
Ford Edge Maserati Ghibli
Smart ForTwo Maserati Granturismo
GMC Canyon Bentley Continental Flying Spur
Nissan Xterra BMW M6
Mini Cooper Ferrari 458
Ford F-250 SuperCab Nissan GT-R

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Comprehensive Insurance Claims by Vehicle Make and Model
Lowest Claim Amount Highest Claim Amount
Nissan Leaf Maserati Granturismo
Chevy Spark Bentley Continental GTC
Volvo V60 BMW M6
Smart ForTwo Audi S7
Ford F-350 Bentley Continental GT
Nissan Xterra Mercedes-Benz S Class

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Manufacturer Models with the Lowest and Highest Medical Payment Coverage Claims
Lowest Claim Amount Highest Claim Amount
Chevrolet Silverado 3500 Chevrolet Spark
Land Rover Range Rover Sport Nissan Sentra
Audi A4 Allroad Dodge Charger
Ford Expedition Kia Forte
Chevrolet Corvette Mitsubishi Mirage
Ford F-350 SuperCrew Chrysler 200

Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Don't give up on cheaper rates

We've covered many tips how you can find cheaper coverage online. The key thing to remember is the more quotes you get, the better chance you'll have of finding low cost Albany car insurance quotes. You may even discover the most savings is with a small local company. They may have significantly lower prices on certain market segments than their larger competitors like GEICO and State Farm.

Some insurance companies may not have price quotes online and most of the time these regional insurance providers work with local independent agents. Cost effective insurance can be bought online in addition to local insurance agencies, and you should compare rates from both in order to have the best price selection to choose from.

More information is available at the links below