Considering reducing your coverage to stay on budget? Hold that thought and read this guide to making the most of your current policy.
Key Takeaways:
- Discounts, bundling, and adjusting deductibles are three ways to reduce auto premiums without compromising essential protection.
- Shopping around with different coverage providers can keep you updated on the most cost-effective deals.
- Driving less, staying weather-conscious, and monitoring your credit score can also help make auto coverage premiums less expensive.
New York drivers don’t have it easy when it comes to vehicle coverage. The average yearly premium in our state is a hefty $4,192, which is the highest in the nation for a minimum level of car insurance.
It’s no wonder lower auto insurance premiums are top of the list for many New Yorkers when it comes to saving money. However, making auto insurance discounts work for you is only effective if those reduced premiums still provide the level of coverage you need.
This article will share eight smart steps that could lower your auto insurance without leaving you and your loved ones vulnerable.
1. Bundle Different Plans Together
Can having more insurance mean cheaper auto coverage? It can if you have home insurance and life insurance with the company that provides your vehicle plan. Getting these collectively from the same vendor often leads to lower premiums for all three.
You can also insure multiple vehicles in the same household, which may further reduce insurance costs. Bundling could further help New Yorkers with the rising homeowner’s insurance premiums they face in 2025.
Multi-policy discounts average 18%, but there can be drawbacks; insurers frequently raise their prices, meaning the discount may not last long. You can counter that by considering our second tip.
2. Shop Around Regularly for Auto Insurance Discounts
Comparing auto insurance plans on a set schedule may sound time-consuming and boring, but it’s one of the best ways to save.
Many insurance websites can help you make a quick surface comparison on price that can take just a few minutes.
However, the best way to compare coverage is with an experienced insurance agent who can do a deeper dive into how well a policy will serve your present and future needs.
3. Drive Less
That might sound impossible to many New Yorkers, but it’s a proven way to lower auto insurance premiums. Fewer miles driven means less wear and tear on vehicles and less chance of accidents; two factors providers use to set premium costs.
The NYDOT offers some tips on driving alternatives. Consider adding a car insurance tracker to your vehicle via a phone app or onboard device so your provider can verify your mileage and, potentially, adjust your premiums accordingly.
4. Beat the Bad Weather
New York weather can be treacherous, particularly in winter.
Prepping your vehicle against the elements can do a lot to improve its performance and protect you and other drivers on the road.
Some best safety practices are:
- Regularly testing or replacing your car battery.
- Adding winter wipers and winter tires.
- Monitoring tire pressure.
- Ensuring cooling systems are well-maintained.
Safer cars mean a reduced chance of accidents and improved chances of auto insurance discounts.
5. Consider Changing Vehicle Model
Is your vehicle in the current Top 10 cheapest to insure? Moving to a more insurer-friendly model is another potential way to lower auto insurance premiums.
More family-oriented cars tend to have better fuel economy and are generally easier to repair. What’s more, since families often use them, manufacturers tend to make them safer by design. Those are all things that make insurers more lenient when setting auto coverage prices.
6. Monitor Your Credit Score
Auto insurance is just one of many expenses that can benefit from the best possible credit score. Taking charge starts with knowing what your current score actually is. It’s best to check this at least once a year through either TransUnion, Equifax, or Experian.
CreditKarma is a popular option for checking scores. Don’t panic if your score isn’t very high. Here are some expert tips you can use to help you avoid credit-crippling mistakes and get your number heading upwards.
7. Know if You’re a High-Risk Driver
Nobody likes to think they fit into that category, but the criteria for the term are broad, especially when it comes to distracted driving. Sometimes, it’s a label that can’t be helped, but most of the time, it can.
For example, you may be “too young” or “too old” depending on the insurer and therefore deemed a greater risk. Perhaps you have a history of reckless driving or, just as undesirably, have dangerous habits like texting and driving, which haven’t yet landed you with a ticket.
A poor credit score is another thing that could make providers see you as high-risk due to perceived poor payment history. Review the NHTSA’s detailed breakdown of high-risk behaviors and see how many you can remove to lower your auto insurance premiums.
8. Ask Your Provider How to Save
It’s always a good idea to simply ask insurers what discounts they offer. You may be pleasantly surprised at how long the list is.
Some insurance providers may offer reduced rates for military service, while others may lower your premiums if you’ve just bought a new vehicle or improved the security and safety of your current one.
One thing that’s often good for auto insurance discounts is taking a defensive driving course. These fall under the category of Point and Insurance Reduction Programs (PIRPs), and classes can be online or in person, depending on the provider.
Becoming a more defensive driver isn’t as aggressive as it sounds. These courses teach drivers how to be better aware of themselves and others on the road, which could ultimately mean lower auto insurance premiums for everyone.
Find the Best Auto Coverage with NICRIS
If you’re a bit fuzzy on what your auto insurance covers or you’re looking for a new provider, the NICRIS team has your back.
We offer an hour-long insurance review that’s completely free if you’re looking for car or motorcycle insurance. We’re also happy to answer your coverage questions via our contact form.
Get in touch today, and let us help you feel more comfortable and confident with this coverage!