You can get classic car insurance in New York by purchasing it from a traditional insurance company that offers classic coverage, like Geico or State Farm, or from a specialty insurer like Hagerty. When shopping for classic car insurance in New York, you need to make sure that your vehicle meets each insurer’s requirements for coverage, including age specifications and annual mileage caps. Additionally, some insurers only allow you to purchase classic car insurance if you drive fewer than a certain number of miles each year.
Classic car insurance is specialty coverage for antique, exotic, and super-performance vehicles that are driven for pleasure rather than everyday use. This type of insurance is typically cheaper than standard car insurance, since classic cars are driven less than commuter vehicles. Classic car insurance also accounts for the fact that classic cars may appreciate in value over time, which is not the case for standard vehicles.
Classic car insurance costs less than regular car insurance because a classic spends less time on the road than a vehicle used for commuting or errands. The average classic car insurance policy costs between $400 and $1,000 per year.
Like with any auto insurance policy, each driver’s classic car insurance premium will vary based on individual risk factors such as location, driving history, the driver’s age, and the vehicle’s value. Classic car insurance usually applies to antique vehicles as well as to old, high-performance cars. Requirements and prices vary by company, though.… read full answer
Why Classic Car Insurance Costs Less Than Normal Car Insurance
Almost every classic car insurance provider forbids regular use of the vehicle, which reduces the risk for the insurer and keeps costs low. Classic cars are generally limited to parades, car shows, and pleasure driving up to a mileage limit stated in the policy. As a result, you may need to provide proof that you own a regular car for daily use when purchasing classic car insurance.
Another key difference is that most classic car insurers pay the vehicle’s “agreed value” if it is totaled. This amount is decided when the policy is purchased and reflects the fact that classic cars maintain their worth over time. On the other hand, standard car insurance policies usually pay a vehicle’s actual cash value in the event of a total loss, accounting for depreciation.
How to Lower the Cost of Classic Car Insurance
You can lower the cost of a classic car insurance policy by comparison-shopping for quotes and taking advantage of discounts. Many discounts will be the same as those for regular car insurance, such as discounts for having an anti-theft device or taking a defensive driving course. Some companies also offer discounts for membership in certain car clubs or for switching from a different insurer.
Car insurance in New York costs $143 per month or $1,719 per year for minimum coverage, on average. The cheapest car insurance companies in New York are Geico, Progressive, and USAA, and getting quotes from several companies can help you find the best deal.
The average cost of car insurance in New York is 156% higher than the … read full answernational average auto insurance premium. There are several factors that affect how much you’ll pay for car insurance in New York, including your driving record, age and location, the amount of coverage you purchase, and the insurance company you buy it from.
Average Cost of Car Insurance in New York by Category
After an at-fault accident:$456 per month
Driver with poor credit: $323 per month
Teen driver:$475 per month
After a DUI: $241 per month
Average Cost of Car Insurance in New York by Company
Note: Rates are an approximation based on a driver in New York with minimum coverage and a clean driving record. Actual rates will vary.
How to Lower the Cost of Car Insurance in New York
Shop around and compare quotes. We recommend comparing quotes from at least three different insurance companies to make sure you are getting the best rate.
Choose a higher deductible. Your deductible is the amount you have to pay out of pocket before your insurance kicks in. Choosing a higher deductible can lower your premiums but means you will have to pay more out-of-pocket when you file a claim.
Consider lowering your coverage. Consider purchasing only the minimum amount of coverage required by your state, rather than purchasing higher limits or a full coverage policy.
Look for discounts you may be eligible for. For instance, most insurance companies offer a good-driver discount for customers with a clean driving record, a good-student discount, or a discount for paying your premiums in full up front.
Yes, Allstate covers flat tires for customers who have roadside assistance coverage. Drivers who have Allstate roadside assistance can call 1-877-597-3393 for help, and the company will pay for the cost of changing a flat tire. However, it’s important to note that Allstate will not pay for the tire itself, so drivers need to have a spare or pay out of pocket for a replacement tire.… read full answer
Allstate roadside assistance is an optional policy add-on, meaning that the coverage is not automatically included. Besides roadside assistance that can be added to an Allstate policy, the company also offers pay-per-use services and annual roadside assistance memberships, which can be requested through the Allstate website. Drivers do not need an Allstate auto policy to take advantage of the company's pay-per-use services or to purchase an Allstate roadside assistance membership, which starts at $79 per year. Adding roadside assistance to an Allstate car insurance policy is usually the cheapest way to get the company’s coverage, since it only costs an average of $25 annually per vehicle. Besides flat tire changes, roadside assistance from Allstate also covers.
For more information about purchasing a roadside assistance plan, check out WalletHub’s guide to the best roadside assistance.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.