Are you tired of trying to find the cheapest insurance rates in Lackawanna, NY? Do you get overwhelmed by the crazy number of insurance sources available to you? Many other drivers are too. New York people have such a vast assortment of sources available that it can turn into a chore to find better rates. If you've ever been there, you know that Lackawanna is the perfect city to reside in, but high insurance prices can make it nearly impossible for many drivers to buy proper levels of coverage.
Unbelievably, the majority of drivers kept their policy with the same company for well over three years, and 38% of drivers have never compared insurance rates at all. Many consumers in New York could save roughly $800 every year by just comparing rate quotes, but they think it's difficult to shop around.
You should take the time to price shop coverage every six months since prices are usually higher with each renewal. Despite the fact that you may have had the lowest quotes on insurance on your last policy the chances are good that you can find a lower rate today. Ignore everything you know about insurance because it's time to teach you one of the quickest ways to save money, get proper coverage and the best rates.
If you have auto insurance now, you stand a good chance to be able to shop for the lowest rates using the ideas you're about to read. Our objective in writing this article is to tell you how to compare rates easily and some money-saving tips. But New York drivers can benefit by having an understanding of the way insurance companies price insurance differently because it can help you find the best coverage.
When looking for inexpensive Lackawanna car insurance quotes, there are a couple ways of comparing rate quotes from many available insurance companies in New York. The best way to compare rates is to jump online and get quotes.
Keep in mind that more quotes provides better odds of finding a lower rate than you're paying now.
The car insurance companies shown below provide free rate quotes in Lackawanna, NY. In order to find cheap car insurance in New York, we suggest you visit several of them in order to get a fair rate comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Silverado LS Extended Cab 2WD||$866||$433||$72|
|Dodge Ram Quad Cab TRX4 Off Road 2WD||$1,026||$513||$86|
|Ford Escape Limited 4WD||$666||$333||$56|
|Ford F-150 XL Super Cab 4WD||$786||$393||$66|
|Ford Focus SE 4-Dr Sedan||$896||$448||$75|
|Ford Fusion SEL 4-Dr Sedan||$852||$426||$71|
|GMC Sierra SLE Extended Cab 4WD||$750||$375||$63|
|Honda Accord EX 4-Dr Sedan||$794||$397||$66|
|Honda CR-V EX-L 4WD||$698||$349||$58|
|Honda Civic EX 4-Dr Sedan||$832||$416||$69|
|Nissan Altima 3.5 SR 2-Dr Coupe||$968||$484||$81|
|Nissan Rogue S AWD||$1,114||$557||$93|
|Toyota Camry XLE||$738||$369||$62|
|Toyota Corolla LE||$1,002||$501||$84|
|Toyota RAV4 2WD||$922||$461||$77|
|Get Your Own Custom Quote Go|
Prices based on married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Rate information does not factor in vehicle location which can impact auto insurance rates considerably.
Full coverage rates vs. liability-only
The example below shows the difference between Ford F-150 insurance premiums with full physical damage coverage compared to only buying liability only. The rate quotes are based on no claims or driving violations, $1,000 deductibles, married female driver, and no additional discounts are factored in.
Ford F-150 rates are for example purposes only. To get rates for your specific vehicle, click here.
When to eliminate full coverage
There is no clear-cut formula of when to drop physical damage coverage, but there is a guideline you can consider. If the annual cost of having full coverage is 10% or more of replacement cost minus your deductible, then you might consider buying liability only.
For example, let's assume your Ford F-150 replacement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $6,000 after paying your policy deductible. If it's costing in excess of $600 annually for physical damage coverage, then it may be the right time to buy liability only.
There are some scenarios where dropping full coverage is not in your best interest. If you still owe money on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.
Why you need insurance for your vehicle
Even though it's not necessarily cheap to insure a vehicle in Lackawanna, buying car insurance may be required and benefits you in several ways.
- Most states have mandatory liability insurance requirements which means you are required to carry a minimum amount of liability protection if you want to drive 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.
- If you took out a loan on your vehicle, it's guaranteed your bank will make it mandatory that you have physical damage coverage to guarantee loan repayment. If you let the policy lapse, the lender may have to buy a policy to insure your vehicle for a lot more money and require you to pay for the expensive policy.
- Car insurance protects not only your car but also your assets. Insurance will pay for medical bills for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, will also pay attorney fees if you are sued as the result of your driving. 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 all costs to repair after the deductible has been paid.
The benefits of insuring your vehicle greatly outweigh the cost, especially if you ever need it. The average driver in New York is currently overpaying as much as $850 per year so you should quote rates at least once a year to ensure rates are inline.
Cheap Lackawanna insurance rates with discounts
Insuring your fleet can be pricey, but you might be missing out on some discounts that could help you make your next renewal payment. Some trigger automatically at the time you complete a quote, but lesser-known reductions have to be specially asked for before you get the savings.
- Seat Belt Discounts - Requiring all passengers to use a seat belt could cut 10% or more off the medical payments premium.
- Sign Online - A handful of insurance companies may give you up to $50 for signing up over the internet.
- Discount for Life Insurance - Not all companies offer life insurance, but some may give you a lower price if you buy life insurance from them.
- Anti-theft System - Cars and trucks that have factory anti-theft systems are less likely to be stolen and that can save you a little bit as well.
- Mature Driver Discount - If you're over the age of 55, you could receive better insurance rates.
- Memberships - Joining a civic or occupational organization in Lackawanna could earn you a nice discount on your next insurance statement.
One last thing about discounts, some credits don't apply to the entire policy premium. Most only reduce the cost of specific coverages such as liability, collision or medical payments. So even though they make it sound like you would end up receiving a 100% discount, insurance companies wouldn't stay in business. Any amount of discount will help lower the amount you pay for coverage.
Larger insurance companies and a partial list of their discounts can be read below.
- State Farm discounts include anti-theft, passive restraint, good driver, multiple autos, defensive driving training, and multiple policy.
- Liberty Mutual offers discounts for new graduate, preferred payment discount, multi-car, good student, teen driver discount, and new move discount.
- American Family may offer discounts for good driver, Steer into Savings, bundled insurance, multi-vehicle, and early bird.
- Progressive offers premium reductions for continuous coverage, homeowner, online signing, multi-vehicle, and good student.
- Farmers Insurance may include discounts for early shopping, distant student, good student, youthful driver, mature driver, business and professional, and switch companies.
- Auto-Owners Insurance has discounts for good student, safe vehicle, air bags, multi-policy, multiple vehicles, paperless, and company car.
- SAFECO includes discounts for bundle discounts, teen safe driver, safe driver, anti-theft, and homeowner.
If you need affordable Lackawanna car insurance quotes, ask each company to apply every possible discount. Some of the earlier mentioned discounts might not be offered on policies in Lackawanna. To see insurance companies that have a full spectrum of discounts in Lackawanna, follow this link.
Insurance agent or online?
A small number of people would prefer to sit down with an agent and that is a personal choice. An additional benefit of price shopping on the web is that drivers can save money and get cheaper premium rates and still buy from a local agent.
After completing this quick form, your information is emailed to participating agents in Lackawanna who will give you bids and help you find cheaper coverage. It's much easier because you don't need to even leave your home as quotes are delivered to the email address you provide. You can find lower rates without requiring a lot of work. If you wish to get a price quote for a specific company, you can always find their quoting web page and give them your coverage information.
Picking an insurance company is decision based upon more than just the price. Ask your prospective agent these questions:
- Do they make recommendations based only on price?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Does the company have a local claim office in Lackawanna?
- Do they prorate repair cost based on vehicle mileage?
- Are aftermarket or OEM parts used to repair vehicles?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
If you are wanting to purchase insurance from a reliable insurance agency, it can be helpful to understand the types of insurance agents and how they are distinctly different. Agencies in Lackawanna can be categorized as either independent or exclusive depending on the company they work for.
Exclusive Insurance Agencies
These agents can only place business with one company such as AAA, Allstate, State Farm, or Farmers Insurance. They generally cannot give you multiple price quotes so it's a take it or leave it situation. Exclusive agents are trained well on the products they sell and that can be a competitive advantage. Consumers sometimes choose to use a exclusive agent mainly due to loyalty to the company rather than low rates.
Independent Insurance Agents
Independent insurance agents do not have single company limitations so they can write business with many different companies and potentially find a lower price. If your premiums go up, an independent agent can move your coverage and you don't have to find a new agent. If you are comparing rate quotes, you will want to get some free quotes from at a minimum one independent agency in order to have the best price comparison. Most also write with smaller regional carriers which may provide better rates.
One last thing to lower rates
Cheap car insurance in Lackawanna is possible both online and from local agencies, and you need to comparison shop both to have the best chance of lowering rates. Some car insurance companies may not offer online quoting and many times these regional carriers sell through independent agents.
Drivers leave their current company for any number of reasons including policy non-renewal, being labeled a high risk driver, extreme rates for teen drivers and denial of a claim. Regardless of your reason, finding a new company can be easier than you think.
We just presented many tips how you can compare car insurance prices in Lackawanna. The most important thing to understand is the more quotes you get, the better likelihood of getting cheaper Lackawanna car insurance quotes. You may even discover the biggest savings come from the least-expected company.
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- Who Has Cheap Car Insurance for Seniors in New York? (FAQ)
- What Car Insurance is Cheapest for Good Students in New York? (FAQ)
- How Much are Car Insurance Quotes for State Employees in New York? (FAQ)
- Understanding Rental Car Insurance (Insurance Information Institute)
- Older Driver Statistics (Insurance Information Institute)
- Things to Know Before you Cancel Insurance (Allstate)
- Keeping Children Safe in Crashes Video (iihs.org)