Wish you could get out of an underperforming, overpriced insurance policy? You're preaching to the choir because many Troy drivers feel the same as you.

It's amazing but most drivers kept their coverage with the same insurance company for over three years, and nearly the majority have never compared rates to find cheaper insurance. New York insurance shoppers could pocket up to 45% a year by just comparing rate quotes, but they underestimate the actual amount they would save if they moved their coverage to a different company.

Because there are so many online and local companies to choose from, it is hard for the average consumer to locate the lowest cost company.

Auto insurance companies offering low-cost prices in New York

The following companies can provide price comparisons in New York. To buy the best cheap auto insurance in New York, it's a good idea that you visit two to three different companies in order to get a fair rate comparison.

Insurance Costs for Popular Vehicles in Troy
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Colorado LT Crew Cab 4WD $744 $372 $62
Chevrolet Equinox LTZ AWD $974 $487 $81
Chevrolet Impala LS $714 $357 $60
Chevrolet Malibu LS $684 $342 $57
Chevrolet Silverado LTZ Extended Cab 4WD $780 $390 $65
Dodge Ram Quad Cab ST 2WD $896 $448 $75
Ford Escape Limited 2WD $698 $349 $58
Ford F-150 XL Super Cab 2WD $648 $324 $54
Ford Focus SES 2-Dr Coupe $872 $436 $73
Honda Accord LX-P 4-Dr Sedan $794 $397 $66
Honda CR-V LX 2WD $580 $290 $48
Honda Civic SI 4-Dr Sedan $804 $402 $67
Nissan Altima 2.5 S 4-Dr Sedan $852 $426 $71
Toyota Camry Hybrid $1,304 $652 $109
Toyota Corolla XRS $1,096 $548 $91
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $928 $464 $77
Volkswagen Jetta SEL 4-Dr Sedan $794 $397 $66
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Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and New York minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Information does not factor in specific location information which can decrease or increase prices considerably.

Should you raise deductibles?

One frequently asked question is the level to set your comp and collision deductibles. The following insurance rates can help show the differences in price between high and low coverage deductibles. The first rate quote example uses a $100 deductible and the second data table uses a $1,000 deductible.

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

Chevrolet Malibu insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Malibu LS $228 $412 $264 $16 $80 $1,025 $85
Malibu Hybrid $228 $412 $264 $16 $80 $1,025 $85
Malibu LT $258 $412 $264 $16 $80 $1,055 $88
Malibu LTZ $258 $484 $264 $16 $80 $1,127 $94
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Chevrolet Malibu insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Malibu LS $126 $216 $264 $16 $80 $702 $59
Malibu Hybrid $126 $216 $264 $16 $80 $702 $59
Malibu LT $142 $216 $264 $16 $80 $718 $60
Malibu LTZ $142 $256 $264 $16 $80 $758 $63
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and New York minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, multi-vehicle, and homeowner. Rate quotes do not factor in zip code location which can impact rates significantly.

We can estimate from the data above that using a $100 deductible costs approximately $28 more each month or $336 a year than selecting the higher $1,000 deductible. Because you would pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have at a minimum 32 months between claim filings, you would save money if you choose the higher deductible. The table below shows how you can decide this on your own policy.

Average monthly premium for $100 deductibles: $88
Average monthly premium for $1,000 deductibles (subtract): - $60
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

One important issue to know is that raising deductibles to save money means you will have to pay more when you do file a claim. You need to have enough extra money in the event you have to pay more to get your vehicle repaired.

Analysis of deductible levels

The chart below highlights how deductible selection and can affect Nissan Sentra insurance costs for different age groups of insureds. The premiums are based on a single female driver, full coverage, and no additional discounts are factored in.

Nissan Sentra rates are for example purposes only. To get rates for your specific vehicle, click here.

Gender-based car insurance rates

The chart below illustrates the difference between insurance costs for male and female drivers in Troy. The data assumes no accidents, no driving violations, full physical damage coverage, $1,000 deductibles, marital status is single, and no discounts are factored in on a GMC Acadia SLT.

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

Eight decisions that affect insurance costs

Multiple criteria are taken into consideration when pricing auto insurance. Some are pretty understandable like your driving record, although some other factors are less obvious such as your credit history and annual miles driven.

The list below includes a partial list of the pieces that factor into rates.

Rates can change based on your address - Being located in less populated areas may provide you with better prices when shopping for auto insurance. People who live in big cities have to deal with more road rage incidents and more time behind the wheel. Fewer drivers on the road means a lower chance of having an accident and a lower car theft rate.

Influences performance influences auto insurance premiums - The type of car, truck or SUV you are insuring makes a huge difference in how high your rates are. The best insurance prices are usually found on lower performance four cylinder passenger cars, but other factors influence the final cost greatly.

Don't skimp on liability - Liability coverage kicks in when a court rules you are at fault for an accident. This coverage provides you with a defense in court up to the limits shown on your policy. This coverage is very inexpensive compared to comp and collision, so buy as much as you can afford.

High physical damage deductibles reduce costs - Your deductibles are the amount of money you are required to spend if a covered claim is submitted. Insurance for physical damage, also known as collision and other-than-collision, insures against damage to your car. Examples of some claims that would be covered are a windshield broken by a bird, damage caused by hail, and damage from wind. The larger the amount you pay before a claim is paid (deductible), the bigger discount you will receive.

Extra policy coverages can cost a lot - Policies have extra bells and whistles that may not really be needed on your insurance policy. Coverage for things like vanishing deductibles, towing coverage, and additional equipment coverage are some examples. The coverages may be enticing when you first buy your policy, but your needs may have changed so consider taking them off your policy.

Do you work long hours in a tough occupation? - Occupational choices like lawyers, architects and stock brokers tend to have higher rates than the rest of us attributed to high stress levels and lengthy work days. Conversely, jobs like professors, athletes and retirees generally pay rates lower than average.

Responsible drivers pay less - Having a single driving citation could increase your next policy renewal substantially. Drivers who don't get tickets tend to pay less for car insurance compared to drivers with tickets. Drivers who have gotten multiple violations like DUI, reckless driving or excessive speeding might be required by their state to file a SR-22 with their state DMV in order to keep their license.

Insurance is expensive for teen drivers - Older insureds tend to be more responsible, statistically cause fewer accidents, and usually have better credit.Teenage drivers are known to be easily distracted when at the wheel of a vehicle so they pay higher insurance rates.

Get lower-cost car insurance with discounts

Some providers do not advertise all discounts very clearly, so the below list has both the well known and also the lesser-known ways to save on car insurance.Car insurance discounts

A little disclaimer on discounts, most credits do not apply to the whole policy. Some only reduce the cost of specific coverages such as collision or personal injury protection. Despite the appearance that it's possible to get free car insurance, nobody gets a free ride.

If you would like to choose from a list of companies who offer discounts in Troy, follow this link.

More comparisons equals affordable rates

When getting Troy auto insurance quotes online, never buy poor coverage just to save money. There are a lot of situations where an accident victim reduced physical damage coverage and learned later that it was a big error on their part. Your focus should be to buy a smart amount of coverage at the lowest possible cost and still be able to protect your assets.

You just learned quite a bit of information on how to get a better price on car insurance in Troy. The key thing to remember is the more companies you get prices for, the higher your chance of finding cheap Troy auto insurance quotes. Consumers may even find the lowest premium rates come from a small local company. These smaller insurers can often provide lower prices in certain areas as compared to the big name companies such as State Farm or Progressive.

Even more information is available in the articles below: