Why is Brooklyn Auto Insurance So Excessive? – Brooklyn readers
Brooklyn auto insurance is no joke. If you've tried insuring your car while in Brooklyn, you have probably discovered this for yourself. Brooklyn car insurance is much higher than anywhere else in the country – the average car insurance rates nationwide are between $ 700 and $ 1,000 per year, depending on the age group.
The average insurance rate in Brooklyn? Average of $ 3,500 per year, over 140% of the national average. That's even higher than many other NYC boroughs: the average annual price in Queens is $ 2,400; $ 1,400 in Brooklyn and the Bronx.
Why is insurance so much more expensive in Brooklyn? Besides, what can you do about it? Fortunately, there are a few ways to bring these prices down.
Why are Brooklyn auto insurance rates so high?
First, let's take a look at why Brooklyn auto insurance rates are what they are.
As most know, insurance companies assign tariffs based on a variety of risk factors: the age of the driver, their driving experience, the area they live in (including accident rates, likelihood of natural disasters, etc.). The higher the accident risk (and thus a high payout), the higher the insurance rate. Brooklyn is home to a number of elements that contribute to the risk factor.
The first: heavy traffic. More cars on the streets mean a higher risk of accidents and traffic in Brooklyn (as in much of New York) is legendary. There is also a high population density, which means that not only are there many cars, but also more pedestrians, which also increases the risk of accidents.
Another factor: fewer parking garages in Brooklyn. This means that many residents have to park on the street, which increases the likelihood of parking accidents, car theft and vandalism – all risk factors for insurance tariffs.
Brooklyn weather also plays a role in insurance costs, as inclement weather such as storms, ice, hail, and stormy winds are more common. Not only can this pose a significant driving hazard, but it can also damage vehicles, leading to auto insurance claims and payouts.
Finally, poor road conditions (potholes, poorly maintained roads) can cause significant wear and tear on cars, and poor driving behavior such as anger on the road and distracted driving (already a problem in heavy, busy traffic) can also be a risk factor.
What Can You Do To Lower Your Brooklyn Auto Insurance?
Now that we know some of the root causes of Brooklyn's relatively astronomical insurance rates – what can you do about it? There are a few steps that can be taken to reduce the high cost of a car in Brooklyn:
Drive safely. This may seem like a no-brainer, but a good driving record is one of the first things insurers look for when assessing risk factors. You can even choose to have a device in your car that shares telemetry data with your insurer, lowering your insurance rate even further (if you are a safe driver).
Apply for discounts. Most insurers offer discounts like good student discounts, homeowner discounts, full payment discounts (for paying your entire annual plan in one payment), and more. Ask your insurer for more details.
Bundle your insurance. A common way to lower your insurance rates is to bundle your auto insurance with your home or tenant insurance. If you own several vehicles, you can also bundle them with a multi-car policy in order to lower prices even further.
Improve your credit score. Good or bad, your credit score can play a huge role in how much you end up paying for auto insurance. A higher credit rating means that every insurer rates you as more reliable when processing payments and therefore as less risky. Finding a way to improve your credit score will help you in a number of ways – not just with auto insurance.
Take a course. Not only can taking a defensive driving course lower your insurer's rates (many offer a discount for taking such a course), but it is also likely to increase your driving skills and increase the likelihood of an accident that you are at fault for .
Drive less. One advantage of living in the city: public transport. If you walk, take the subway, or otherwise use public transportation and other modes of transport, you can upgrade to mileage insurance and end up paying much less for your car insurance.
Compare insurance. Finally, one of the smarter steps you can take to lower your insurance rate is to go shopping. Compare the rates of different insurance companies and find a cheaper policy that also meets your car insurance needs.
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