New drivers that got out of their teens and early twenties with clean, decent credit history and little or no driving history behind them can now hope to see their auto insurance rates fall significantly. In other words, being less reckless behind the wheel and having good credit behind you is free benefit you receive from lower car insurance premiums. And this benefit doesn’t only apply to young drivers. Even experienced drivers who have been living in the same house as their parents for years can now enjoy lower rates. The logic behind this kind of logic is quite simple.
Young drivers with clean, minimal driving records are considered less of a risk compared to drivers who have a history of bad credit or traffic violations. New York City, after all, is one of the most crime-prone cities in the United States. This is especially true considering the large number of young males who are growing up there today. Aside from this, statistics show that drivers with poor credit ratings or DUIs have more accidents and get into more accidents than those with good credit records and who don’t have a history of our convictions. All these put together translate to “more expenses on insurers” for insurers who give better rates to drivers with poor credit and driving convictions.
But here’s the good news: the cost of insuring a driver with a bad driving history and one with a DUI aren’t cheaper just because he’s younger than you. It goes deeper. As mentioned above, the costs rise depending on the level of coverage. In New York City, where you have to consider both the premium cost and the quality of coverage given, it is wiser to spend more on comprehensive car insurance than getting lesser coverage that gives very minimal protection.
One of the best ways to save money is to obtain discounts. This means that you should know how to obtain discounts. Different companies offer different discounts. For instance, you can receive discounts if you own more than one vehicle. You can also receive discounts for drivers who don’t drive very often, for students, and for people who rent instead of owning cars.
Another way to save money when insuring your vehicles in New York is to choose cheap over expensive vehicles. Insurers give lower auto insurance rates to vehicles that don’t have costly and high maintenance features, such as sports cars and luxury vehicles. Additionally, older models of vehicles with low miles and well maintained engines are less expensive to insure. It is best to choose these kinds of vehicles if you want to save money in the long run.
One way to ensure affordable vehicles is to make sure that you pay off your current vehicle. There are several things you can do to lower your insurance premiums by changing your vehicle. Purchasing a more expensive vehicle, such as a sporty model, may reduce the amount you will need to pay for your insurance policy. Also, purchasing a newer vehicle that doesn’t attract too many accidents or citations may help lower your premiums. Drivers who earn good grades and who live in safe areas are usually able to get better deals on their auto insurance policies.
Insurance providers in New York understand the needs of drivers, so many offer various forms of discounts for drivers who show their commitment to staying safe and healthy. Some insurers give drivers reduced deductibles or higher levels of coverage depending on whether they have already purchased other policies. Drivers who have already insured their cars at home or who have a defensive driving certificate or other safety certificate are often offered discounts. Drivers who purchase a car without the use of a personal alarm system or who don’t claim on their auto policy in a certain period of time are often given discounts. In addition, motorists who have a history of making claims on their auto policies are often given discounts.
Drivers who make all of the required monthly payments are often given lower rates than drivers who do not make payments. Another way that New Yorkers can save money on their insurance rates is to add your teenagers to your insurance policy. Many insurers offer substantial savings to policyholders who purchase comprehensive coverage for their teenagers. Also, drivers can save money by driving less, as statistics show that drivers with better driving records tend to drive fewer miles per year.