All You Need to Know While Switching Car Insurance in NY

New York State Auto Insurance Requirements

To register a vehicle in New York, you must carry the state-mandated minimum automobile liability insurance. This includes:

  • For an accident involving a single individual, you need $50,000 for death and $25,000 for bodily injury
  • For an accident involving more than one individual, you need $100,000 for death and $50,000 for bodily injury
  • For property damage resulting from a single accident, you need $10,000 coverage
  • For an accident classified as “no-fault”, you need $50,000 coverage

To ensure adequate coverage, your liability coverage and personal injury coverage limits should be well above the minimum coverage requirements.

Is Changing Car Insurance Companies a Good Move?

If you’re always looking for better auto insurance deals, you might be wondering whether you should change your auto insurer to get a better deal. If you do it correctly, switching car insurance companies to get better insurance, better customer service, and better rates won’t hurt you. Changing your car insurer can save you money.

What to Consider When Switching Car Insurance Companies

  1. Cost

The cost of similar insurance coverage generally varies from company to company. The price discrepancy is because different insurers consider different factors when pricing their insurance policies. Such factors include the type and model of the car, the policyholder’s driving history, and deductibles.

  1. Choice

The reason why insurance policies that offer the bare minimum are cheaper is that they provide you with limited options when it comes to repairs and maintenance. On the other hand, policies that offer more features tend to cost more. Therefore, your auto insurance costs will depend on the type of policy you choose.

  1. Benefits

If your insurance policy does not offer you any distinguishable advantages, then you’re not getting much value for your money. A key advantage you should look out for is a reduction of your rates if you maintain a clean driving record for a given period and accident forgiveness. Some insurers also offer to pay for a rental car whenever your vehicle is at the mechanic, regardless of the time it takes for you to get your car back. Some insurance companies reduce your rates if you buy policies in bulk. Instead of waiting for your insurer to offer you a deal, you should ask what they have to offer.

  1. Circumstances

Circumstances may force you to find a new auto insurance policy. For instance, according to the Insurance Information Institute (III), adding a new driver to your policy can drive your rates up significantly depending on the driver’s driving history, age, and gender. In this case, you may need to find an insurance company that offers better rates given your unique situation.

  1. Company

You can now find previously inaccessible information about an insurance company, thanks to the internet. How is their customer service?  Are they respectful to their clients? Are their representatives helpful? You can also find out how the company treats its employees. A company that disregards its employees is less likely to treat its customers any better. You can also find out about the company’s ethics. Ideally, you should give your business to a company whose values align with yours.

What Are the Dangers of Terminating Your Car Insurance Policy Incorrectly?

While you will not be penalized for switching car insurance companies, you may need to pay termination fees. Before you switch, check your policy. Don’t stop paying for your old policy until the new one is active and you’ve formally informed your old insurer that you wish to cancel the policy.

If you’re looking for quality car insurance that you can count on, trust the experts at Premier Risk, LLC. We have years of experience matching the right auto policy to the motorist, tailoring it to your needs, budget, and vehicle. Contact us today on Long Island, New York to get started!!

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