If you have just received your policy renewal and you are wondering if you can get cheaper car insurance in NY, it’s time to do some shopping around for coverage. Each company sets its rates independently and by getting quotes from multiple providers, a driver can find the best prices on the level of protection that he or she needs.
To get a better rate on car insurance coverage, consider raising your policy deductible. This is the amount you agree to pay out of pocket when you make a claim against your policy. When policyholders pay a higher amount, the insurance company rewards them with lower premium rates. Just be sure that the amount you are considering is not so high that it will lead to financial hardship if an accident or other type of loss occurs.
Reducing or eliminating physical damage protection for your vehicle will also help you save on the cost of your coverage. If you are driving an older model car that has been paid for in full, consider dropping the collision coverage on it entirely. This coverage pays out based on the vehicle’s cash value (not what you paid or it or its replacement cost) Comprehensive coverage works the same way, and by limiting it to fire and theft only you will be able to get cheaper car insurance rates.