How long has it been since the last time you looked for lower-priced car insurance rates in Niagara Falls, NY? Trying to come up with a payment for high-priced car insurance can consume your accounts and make it tough to pay other bills.
A recent NerdWallet.com study revealed that the majority of drivers kept their policy with the same company for more than four years, and almost half have never compared car insurance rates at all. With the average premium in New York being $1,940, drivers can save almost $840 each year, but they don't know how much money they would save if they swap their current policy for a cheaper one. Vehicle owners have multiple auto insurance companies to buy insurance from, and although it's nice to be able to choose, it makes it harder to compare rates and find the lowest cost car insurance.
It's a good habit to quote other rates on a regular basis because prices go up and down regularly. Just because you found the best rate on car insurance at your last renewal you can probably find a better premium rate now. Block out anything you think you know about car insurance because you're about to find out the best methods to find better coverage on car insurance at a better price.
Get cheaper rates on insurance with these discounts
The price of auto insurance can be rather high, but you may be missing some discounts that may help make it more affordable. A few discounts will be applied when you purchase, but some may not be applied and must be inquired about prior to receiving the credit. If you do not double check each discount possible, you could be saving more on your insurance.
- Telematics Data Discounts - Drivers that enable their company to look at driving habits through the use of a telematics system such as Allstate's Drivewise and State Farm's In-Drive system may see discounts if they are good drivers.
- Memberships - Being in specific professional or occupational memberships or organizations may earn a discount on your next insurance statement.
- New Car Discount - Insuring a vehicle that is new can get you a discount since newer models are generally safer.
- Anti-theft Discount - Cars and trucks optioned with advanced anti-theft systems are less likely to be stolen and can earn a small discount on your policy.
- Discount for Multiple Policies - If you combine your auto and home policies with the same company they may give you a discount of at least 10% off all policies.
- College Student Discount - College-age children who live away from home at college and do not have a car could qualify for this discount.
Policy discounts save money, but some credits don't apply to all coverage premiums. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So even though you would think all the discounts add up to a free policy, company stockholders wouldn't be very happy.
The best insurance companies and some of their more popular discounts are outlined below.
- GEICO discounts include membership and employees, anti-theft, seat belt use, driver training, defensive driver, and emergency military deployment.
- SAFECO offers discounts for drive less, anti-theft, teen safety rewards, accident prevention training, and teen safe driver.
- State Farm offers premium reductions for passive restraint, multiple policy, good student, accident-free, anti-theft, good driver, and student away at school.
- MetLife may offer discounts for accident-free, claim-free, multi-policy, good driver, and good student.
- 21st Century offers discounts including theft prevention, good student, homeowners, 55 and older, student driver, and air bags.
- Progressive has savings for multi-vehicle, multi-policy, continuous coverage, online signing, online quote discount, and good student.
If you need low cost Niagara Falls auto insurance quotes, ask every insurance company to give you their best rates. All car insurance discounts may not apply to policies in your state. To find insurers that have a full spectrum of discounts in Niagara Falls, click this link.
The companies shown below can provide comparison quotes in Niagara Falls, NY. In order to find the cheapest car insurance in New York, we recommend you visit two to three different companies to get the cheapest price.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Equinox LTZ 2WD||$1,018||$509||$85|
|Chevrolet Impala LTZ||$766||$383||$64|
|Chevrolet Silverado Crew Cab Hybrid 2WD||$1,202||$601||$100|
|Dodge Grand Caravan Hero||$728||$364||$61|
|Dodge Ram Quad Cab SLT 2WD||$756||$378||$63|
|Ford Escape Limited 4WD||$760||$380||$63|
|Ford Explorer XLT 4WD||$754||$377||$63|
|Ford F-150 Lariat Crew Cab Harley 4WD||$794||$397||$66|
|Ford Focus SE 2-Dr Coupe||$938||$469||$78|
|Honda Accord LX 4-Dr Sedan||$682||$341||$57|
|Honda CR-V EX 4WD||$794||$397||$66|
|Honda Civic EX-L 2-Dr Coupe||$1,282||$641||$107|
|Hyundai Sonata SE 4-Dr Sedan||$788||$394||$66|
|Kia Optima LX||$1,114||$557||$93|
|Mazda 3 S Sport 4-Dr Sedan||$996||$498||$83|
|Nissan Altima Hybrid 4-Dr Sedan||$750||$375||$63|
|Toyota Camry Hybrid||$832||$416||$69|
|Toyota Corolla XRS||$860||$430||$72|
|Toyota RAV4 4WD||$902||$451||$75|
|Get Your Own Custom Quote Go|
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New York minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Rate information does not factor in the specific area where the vehicle is garaged which can modify insurance rates considerably.
Physical damage deductible comparison
The illustration below illustrates how your deductible choice and can impact Hyundai Elantra insurance premiums for different categories of driver ages. The data is based on a single female driver, comp and collision included, and no discounts are applied to the premium.
Hyundai Elantra rates are for example purposes only. To get rates for your specific vehicle, click here.
Cautious drivers save money
The diagram below highlights how traffic violations and fender-benders can influence Nissan Altima insurance costs for different ages of insureds. The data assumes a married male driver, full physical damage coverage, $500 deductibles, and no other discounts are factored in.
Nissan Altima rates are for example purposes only. To get rates for your specific vehicle, click here.
Eight things that affect your premiums
Many factors are part of the calculation when you get your auto insurance bill. Some of the criteria are obvious like an MVR report, but others are less obvious such as whether you are married or your commute time. The best way to find cheaper insurance is to take a look at some of the things that go into determining your policy premiums. When you know what positively or negatively determines premiums, this allows you to make good choices that may reward you with cheaper rates.
The items below are a partial list of the pieces used by companies to determine your prices.
- Insurance premiums and driver gender - Statistics show that females tend to be a little less risky than males. This data doesn't prove that men are worse drivers. Both genders have at-fault accidents in similar percentages, but the men tend to have more serious accidents. Men also tend to get more serious tickets like reckless driving and DUI.
- Careless drivers pay higher prices - Drivers who don't get tickets pay lower auto insurance prices than people who have multiple driving citations. Getting just one moving violation may cause rates to rise twenty percent or more. People who have serious citations like reckless driving or DUI may find that they have to to submit a SR-22 or proof of financial responsibility with their state's department of motor vehicles in order to drive a vehicle legally.
- Prevent theft and save - Driving a car that has a built-in theft deterrent system can save you some money. Theft prevention devices such as OnStar, LoJack tracking, and tamper alarms help track and prevent vehicle theft.
- Safer vehicles are cheaper to insure - Cars with high safety ratings cost less to insure. Highly rated vehicles reduce injuries and lower rates of occupant injuries means your insurance company pays less which can result in lower premiums. If your vehicle earned at least an "acceptable" rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
- Insurance lapses raise premiums - Driving with no insurance is against the law and any future policy may cost more because you let your insurance expire. Not only will you pay more, being ticketed for driving with no insurance may result in a revoked license or a big fine. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the New York motor vehicle department.
- Lower rates by increasing coverage deductibles - Your deductibles are the amount of money you are required to spend in the event of a claim. Physical damage coverage, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some examples of claims that would be covered are a windshield broken by a bird, damage caused by hail, and having a roll-over accident. The more you pay before a claim is paid (deductible), the less your company will charge you for insurance.
- Fewer miles means better prices - The higher the mileage driven each year the more you will pay for insurance. A lot of insurance companies charge to insure your cars partially by how you use the vehicle. Autos left parked in the garage can be on a lower rate level than vehicles that are driven to work every day. It's a good idea to make sure your declarations sheet is showing the right rating data, because it can save money.
- Vocation impacts rates - Jobs like judges, architects and emergency personnel usually pay the highest average rates attributed to high stress and extremely grueling work hours. On the other hand, professions such as farmers, historians and homemakers pay the least.
Car insurance can be complex
When it comes to buying the right insurance coverage, there really isn't a perfect coverage plan. Your situation is unique.
Here are some questions about coverages that could help you determine if you could use an agent's help.
- Is a fancy paint job covered?
- What are the liability requirements in my state?
- How can I get the company to pay a claim?
- Do I have coverage when using my vehicle for my home business?
- Is business equipment covered while in my vehicle?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Why do I need rental car insurance?
If you're not sure about those questions but you know they apply to you, you might consider talking to a licensed insurance agent. To find an agent in your area, complete this form. It's fast, doesn't cost anything and you can get the answers you need.
Three reasons to insure your vehicle
Despite the high insurance cost in Niagara Falls, insuring your vehicle is required in New York but also provides important benefits.
- Most states have mandatory liability insurance requirements which means you are required to buy a specific level of liability insurance in order to license the vehicle. 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 your vehicle has a loan, almost every bank will require that you carry insurance to guarantee payment of the loan. If you default on your policy, the lender may insure your vehicle at a more expensive rate and require you to fork over the higher price.
- Insurance protects your vehicle and your assets. It will also reimburse you for medical expenses for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, also covers legal expenses if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will cover the repair costs.
The benefits of carrying enough insurance definitely exceed the price paid, particularly when you have a large claim. According to a survey of 1,000 drivers, the average driver is overpaying over $850 per year so it's important to compare rates at every policy renewal to ensure rates are inline.
A little work can save a LOT of money
We just covered a lot of techniques to reduce car insurance rates online in Niagara Falls. The most important thing to understand is the more providers you compare, the higher your chance of finding inexpensive Niagara Falls auto insurance quotes. Consumers could even find that the best rates are with some of the lesser-known companies.
People change insurance companies for many reasons like being labeled a high risk driver, extreme rates for teen drivers, high rates after DUI convictions or even denial of a claim. It doesn't matter what your reason, finding a new car insurance company can be pretty painless.
As you restructure your insurance plan, never reduce coverage to reduce premium. In many cases, someone dropped full coverage and found out when filing a claim that the small savings ended up costing them much more. The ultimate goal is to buy enough coverage for the lowest cost, but do not sacrifice coverage to save money.
To read more, take a look at the articles below:
- Uninsured Motorist Statistics (Insurance Information Institute)
- Who Has Cheap Auto Insurance Rates for a Ford F-150 in New York? (FAQ)
- Who Has Affordable Car Insurance for a Ford Escape in New York? (FAQ)
- What Car Insurance is Cheapest for Inexperienced Drivers in New York? (FAQ)
- How Much is Auto Insurance for Low Credit Scores in New York? (FAQ)
- What Auto Insurance is Cheapest in Syracuse, New York? (FAQ)
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- Auto Insurance FAQ (Farmers Insurance)
- Choosing a Car for Your Teen (State Farm)