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There aren't any easy answers to your problem. Only the state of Louisiana has higher car insurance premiums than New York does.
You didn't help things by not only living in New York, but living in a borough of New York City (most expensive place in NY for car insurance).
You didn't help things by being uninsured for thirteen years.
You didn't help things by getting a speeding ticket. In most states, if you don't have other tickets there is a way to get the ticket turned into a non-moving violation so it doesn't put points on your driving record. It usually takes help from an attorney though. It can be done without paying a fortune. It does cost though.
You don't mention it, but I'm going to guess you don't have great credit either. That's a factor most insurance companies consider.
I'm not trying to be nasty, but why would you expect to get cheap car insurance?
You probably won't like this advice. Can you move out of New York City? Your rates are bound to be lower elsewhere. Or, give up driving and use the many mass transit options in New York City.
$800 a month is still Roughly $10K a year to insure a $20K car (and I get all the contributing factors that are independent of the car itself.)
$800 a month is still Roughly $10K a year to insure a $20K car (and I get all the contributing factors that are independent of the car itself.)
The insurance companies charge that amount because of the large number of claims that drivers living in a crowded urban area like New York City experience. Sometimes, there is a message here. That message is a combination of: (1) You ought to live somewhere else; (2) You shouldn't drive a car; (3) You ignored personal factors like credit scores which lead the insurance company to believe you were more than an average risk.
$800 a month is still Roughly $10K a year to insure a $20K car (and I get all the contributing factors that are independent of the car itself.)
Hmmmm, NY must have some sort of alternative auto insurance pool.
Most states have a mechanism (there are a coupled different types) where they place drivers that nobody wants to insure.
Those policies are still not price sufficiently but the goal is that they rehabilitate their driving and at least pay SOMETHING because the reality is that they will drive uninsured otherwise.
10k seems pretty high for that though but it might be the coverage due to lender requirements.
Uninsured drivers in the US goes up over 20% depending upon the state. Another cost for the rest of us which you can see labeled UM\UIM most places.
I used to be a claims adjuster. Prior to getting hired and licensed I had no idea how the insurance world actually worked, and it was both fascinating, and shocking to learn it all.
First of all, the amount of claims was absolutely insane.
1) Weather. You start seeing trends right away. Massive amounts of cars in Colorado getting hail damage. Cars being flooded in Houston and many other low lying cities. Cars being damaged in tornadoes all throughout the Midwest and hurricanes in the south. Fires out west would destroy cars, too.
2) Theft/vandalism. The amount of cars being purposefully damaged by someone is staggering. San Francisco was ridiculous. Many western cities also had serious problems, like LA, Portland, Seattle.
3) Fraud. The amount of fraud was off the charts. There are numerous organized crime rings all throughout the US that specialize in fleecing insurance companies. They have crooked lawyers and crooked doctors on their payroll, because the real money is in auto injury claims.
4) Hit and runs. The amount of people on the road who don’t have insurance has exponentially increased over the years. Many are undocumented, many just can’t afford insurance.
But prior to our inflation problems, at least the cost of repairing vehicles wasn’t too out of control. Well, nowadays, repair costs for parts and service are totally out of control.
Not to mention the massive uptick in crime, theft, vandalism.
I’m amazed that insurance companies can still make money.
But it seems to me this whole house of cards is about to fall down. Too many companies losing too much money, and customers unable to afford the rising costs.
Jeebus.. And I thought my rate going up to $600/6mos for full coverage on a 2018 Chevy Colorado was bad.
That being said.. SC is one of the worst states for accidents. Though.. I haven't had one I was at fault in for over 30 years.
I only had my first claims in 20+ years back in 2021.
Rented a car to drive route 66, took a rock in the windshield that cracked it.
Woman backed across the parking lot into me at a gas station. Then tried to claim I hit her.. Dashcam shut her up quickly.
Then a few months later, a deer decided to headbutt the side of me as I was going 35mph.
Even then.. Total only went up about $100/6mos after those 2 claims. Woman who hit me, her insurance covered that.
Oh.. yeah.. I should mention.. SC is a glass state. You have full coverage, it covers glass. All glass, not just the windshield.
@WK91.. That's something you left out. Animal collisions. Massive here in my area when the deer get out rutting. Deer will total a vehicle in no time. And the folks in Alaska have to deal with Moose.. But.. I don't believe Moose move quite as fast as deer.
And I thought my rate going up to $600/6mos for full coverage on a 2018 Chevy Colorado was bad.
That being said.. SC is one of the worst states for accidents. Though.. I haven't had one I was at fault in for over 30 years.
SC is a glass state. You have full coverage, it covers glass. All glass, not just the windshield.
At what date in time as your car ages will you no longer need full coverage?
I'm insured by Progressive for two vehicles and for one year it was well under $600 total. No other company could come close to our current rate (SC)
At what date in time as your car ages will you no longer need full coverage?
I'm insured by Progressive for two vehicles and for one year it was well under $600 total. No other company could come close to our current rate (SC)
That is.. Up to you.
Now, legally. You MUST keep full coverage until the vehicle is paid off. My truck has been paid off for several years. So, I could drop to liability.
But.. That deer that hit me? that was $5k in damages.
BUT.. Quite frankly.. It was a dent. I could have lived with a dent.
I'm one of those people who tends to keep full coverage. Probably longer than I should. Financially, it makes little sense. But.. If a deer runs out in front of me and totals the vehicle out.. I'd still get.. Ballpark, around the $15k value of the truck. Which.. Is a good chunk to put towards something else.
it's like the argument between people who say extended warranties are for suckers and people like me, who always get it.. The LAST thing you want is a vehicle you're making payments on sitting in your driveway not running. So.. I've bought 3 extended warranties. Lost my ass on the last 2. Think I paid $2k for the warranties.. One replaced a crank sensor, other replaced a thermostat (Which.. Apparently on this vehicle is about a $700 job)
The first truck I bought.. When I was a struggling college student.. Didn't have much money left over after paying the whole $237 a month payment on that truck (Trucks used to be cheap).. That extended warranty put THREE trannies in that thing. If I hadn't gotten it.. I'd have been screwed.
I'm one of those people who will pay a little more now for peace of mind towards the future. Even if.. It may not be the most economical decision.
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Another cost for the rest of us which you can see labeled UM\UIM most places.