Obtaining auto insurance coverage in New York can seem complicated. As your independent agent, we strive to help Albany residents find the right coverage for a car. A concern that you might consider when looking for Saratoga Springs auto coverage is the price. Although different situations will impact the premium, the payment method is a consideration.
Insurance Company Discounts
The reason that it is often assumed that paying an insurance premium in advance will cut the cost is related to the discounts a company might offer. Although the payment method is not always a factor, some companies in Schenectady or other areas of New York might offer special rates for those who pay the entire amount of the premium in advance.
While discounts are available in some areas, it is important to recognize that it might not always apply to your situation. Companies offer a wide range of discounts and some will not provide reduced rates for up-front payments.
The only way to get the best rate on car insurance coverage is by comparing the different companies and the various rates that are made available. As your independent agent, we can help you recognize the companies that are providing the best coverage for a reasonable rate.
If it is possible to apply discounts to your account, then it might be worth paying the full amount of coverage in advance. Paying the entire rate early might provide the opportunity to cut back on expenses and will reduce the number of monthly bills to keep up with.
While a premium will always have several factors involved in determining the final price, it is true that some companies will offer reduced rates for paying in advance. To get help finding the right coverage and lowest price, contact us to speak with an independent agent today.
Insurance providers need to carefully manage risk with pricing when it comes to auto insurance. To do that, these providers often consider what risks are associated with a vehicle. How much your vehicle is worth and the risk of it being stolen are two factors that come into play.
What Are the Most Stolen SUVs?
In Albany, New York and surrounding areas, you may be surprised at what the most stolen SUVs are. The Ford Escape ranks the highest as the most stolen SUV or crossover type of vehicle. Second on the list is the Chevy Tahoe. Others include the RAV4, Edge, and the Journey. The high-end Cadillac Escalade is also a bigger risk factor.
What Affects Pricing of SUV Insurance
However, there is more to consider than just if your vehicle is on this list. For example, if you have a good security system on-board, that will reduce the costs you pay significantly. If your vehicle is used, rather than new, it will cost less to insure. On the other hand, if you have the latest model with all of the features you can get into it, the vehicle costs more. As a result, higher price drives the cost of insurance higher.
Getting the Best Pricing
With all of this in mind, realize you still remain very much in control of how much you pay for car insurance. If you own an SUV in Schenectady or Saratoga Springs, turn to our independent agent for help saving money on the insurance you need. We will work with you to compare your options across all insurance agencies. That way, you always end up with the most affordable policy available for your vehicle.
The auto parts that you use to repair or upgrade your vehicle could have an effect on your car insurance premiums. Here we’ll look at aftermarket parts and how these popular enhancements may potentially impact the price of your premiums in New York.
What are Aftermarket Parts?
Aftermarket parts simply refer to any part on your car that wasn’t made by the original manufacturer of the vehicle. Universal parts, such as light bulbs or switches, can be classified as aftermarket parts. However, many aftermarket parts are made for the purpose of surpassing the performance of your vehicle’s original components. It is the performance-enhancing aspect of aftermarket parts that catches the attention of insurance providers.
How Do Aftermarket Parts Affect Your Premiums?
An aftermarket light bulb or wheel bearing may not have an impact on your premiums. However, aftermarket parts typically cause your insurance premiums to increase. The primary reason is that aftermarket parts increase the value of your vehicle significantly. Further, flashy upgrades to your vehicle can catch the attention of thieves or vandals.
If you upgrade your vehicle with high-performance auto parts and entertainment systems, such as a custom-built engine or a backseat gaming system, it could signify that you will engage in risky behavior on the road. Adding too many aftermarket parts to your vehicle sends a red flag to insurers.
Finding Insurance for Cars with Aftermarket Parts
An Albany area independent agent can connect Albany drivers to the best rates on premiums. Even if you have a few modifications on your car, it is possible for you to qualify for much lower auto insurance rates by simply shopping around before you select a policy. A New York independent agent offers policies from several providers so that you can gain leverage and obtain the best value on insurance for a car that has been modified with aftermarket parts. Contact us today to speak to an independent agent.
If you own a business in New York, you’ll definitely need adequate insurance that offers yourself and your business protection from bodily injury or property damage claims. For this purpose, you’ve probably thought about purchasing a Business Owner’s Policy (BOP), but should you also opt for commercial property insurance coverage as well?
What is a Business Owner’s Policy?
In addition to coverage for your property, your Albany-based business should also have protection against third-party claims and coverage for both company vehicles and non-business vehicles used by employees. A Business Owner’s Policy (BOP) combines property and liability policies into a single, simplified package. The average BOP policy can also be tailored to suit your business’s needs.
BOPs include a wide spectrum of coverage options for companies, but the most common forms of coverage involve general liability and property insurance:
- Property insurance under a BOP provides coverage for personal property, permanently attached equipment and structures that you own or lease for your business. It also includes coverage against business interruptions due to a natural disaster.
- General liability insurance provides protection against third-party claims due to property damage or bodily injury that occurs on your premises or as a result of your operations.
BOP or Commercial Property Insurance: Which One Should I Choose?
Commercial property insurance simply covers your business’ leased and owned physical property and the property of your clients and customers whereas, a BOP covers not just your building and other property, but it also provides general liability and other forms of coverage.
Since a BOP already includes commercial property coverage, you’re better off having the comprehensive protections afforded by one. In addition, you’ll also save money by having all the coverage your company needs in one package. Contact us to get in touch with an independent agent in Albany to further discuss your options.