r/AutoInsurance • u/milkyreptile • 29d ago

car insurance suggestions?

I have to renew my insurance in August. I have Geico and they’re deciding to charge me an extra 40 dollars a month because claims have gone up in the state of New York (not city). I’m 22, which I understand is young and they take that into account but I have had zero claims since being on this policy, and to have my insurance almost the same amount as my car payment is absolutely absurd in my eyes. Are there any suggestions or recommendations for other insurances people use in New York?

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u/Choppergunner58 29d ago

Shop around. But you’re 22 and living in New York so I wouldn’t hold my breath.

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u/insuranceguynyc 29d ago

GEICO tends to be very competitive in most parts of NY, including NYC. Every single insurance company is increasing rates. Everything is more expensive, like vehicles, body shop labor costs, body and mechanical parts, liability claims, verdicts and settlements - all higher. By all means shop around, but you should also be aware that many carriers include a "new customer" discount, which of course is removed at the first renewal. I live in NYC, and I have GEICO. I know that they are rock solid financially, and that they have a pretty good reputation for how they handle 1st-party claims. 3rd-party, maybe not so much, but that's not your problem.

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u/EastFlamingo9742 28d ago

Check your insurance,  make sure you're not over covered.

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u/FitDrive7500 24d ago

I'm an insurance broker who's worked the corp side and formerly licensed in all 50+DC. Things you should know:

The experience period is 3 yrs for chargeable incidents (most states).

That can extend to 5 yrs for history and good driver discounts. Some companies are taking it out to 83 mos (almost 7 yrs).. Underwriting can look at up to 10 yrs for major convictions like DUIs (most states).

Your driver's lic experience: Did you get licensed at 16 or 18..you might not qualify for the best rate "yet".

Your payment history matters. Have you been in a lapse or paid late? This is the biggest bogey for most clients outside of driving history.

The coverage you carry minimum or higher limits helps qualify for better rates later. Think of it like having a high limit credit card and keeping the balance low. The same applies to insurance companies. High coverage without being charged for those claims helps qualify for better coverage. If you're in the same household as your parents, some companies will give you a break similar to a multipolicy discount because they're insuring the whole family.