Other considerations besides cost are important when you look for New York auto insurance quotes on a website like newyork-insurance.website. However, the cost of coverage can vary widely by carrier, making it of utmost importance to compare several carriers. We make that super-easy for you.
Every company looks at risk differently, even though they all use the same or similar actuarial tables to assess the risk that you will have an accident. That is how rates are set: by risk profile. Your application is carefully reviewed, scored and grouped with others as to likelihood of an accident and a claim. It’s called risk selection.
A number of factors weigh into your risk profile. They included usage factors, demographics and the kind of vehicle you drive.
Your auto insurance risk profile
What do you drive? How does it rate on safety and how much is it loved by car thieves? If your car does well in safety tests and the make and model are not frequently stolen, you’ll see lower rates. This should be a consideration when you buy a new vehicle, but it is something most drivers don’t think about.
By the way, even installing The Club anti-theft device can help lower your rate with some carriers.
Where do you drive? Are you an urban driver, freeway driver, or a country driver? Do you spend hours on the road? You’ll pay less for coverage if you are in a country setting and drive fewer miles and/or hours.
Is your car used for business?
Are you married? Female? Over 25? You’ll pay less.
What kind of driving record do you have? How recent are any accidents or moving violations? It not going to surprise you to discover that insurers put those who have had accidents in the past few years in a higher risk group.
What about claims? Have you filed any in the past? If you have, how many and what was the dollar amount? Carriers want to lower the chance of future claims so they will rate those who have made claims as higher risks.
Cost and auto insurance
While it might be appealing to choose lower coverage amounts at newyork-insurance.website/new-york-auto-insurance/ to lower your premium, that’s not always a good idea. Leaving yourself unprotected can end up a financial burden if you get in an accident, especially with an uninsured or underinsured motorist.