What are most people paying?

         With New York City ranking as the fifth most expensive city in the United States for car insurance premiums. In the year 2005 there is a larger portion of the population looking for ways to get cheaper automobile insurance. Average premiums for 2005 were $3,225. That is $268.75 per month.

         The state of New York is the third largest state when it comes to number of cars insured. With just over 9,000,000 cars insured it creates a large market of insurance agencies to choose from for automobile insurance.

         How do you pay less?

         Most accounting consultants will advise to insure yourself only for things that you cannot pay for if they were to get damaged.

         If your car is a 1985 Datsun then chances are that you would pay more for collision coverage in one or two months than you would if you ever had to replace it. In the case that you are insuring a 2005 BMW then you would not want to pay for damages to it out of pocket. Look at the car you are insuring and figure out what it would cost to replace due to an accident and weigh that with the cost that you would pay for collision coverage.

         Next, look at all of your deductibles. Many insurance companies will have a different deductible for each form of coverage. Collision may have $500 deductible and comprehensive may have a $100 deductible. Comprehensive covers damages that may occur to your car due to something other than a collision. This can be theft or damages and these deductibles are usually around $100 to $300. Raising these deductibles can usually save money on car insurance.