Who Has Cheap Buffalo Auto Insurance Quotes for Homeowners?

The words “low-priced” and “insurance” probably shouldn’t be used together, specifically when you are trying to find the best price on coverage for homeowners. Because of the high cost, let’s familiarize you with a few of the factors that have a considerable impact on auto insurance prices, and figure out some ideas to take a little off your next policy.

For people who own their homes, one of the more important criteria that determine the amount you pay each year for auto insurance is where your car is garaged in Buffalo. Areas with increased crime or more people tend to have more expensive car insurance rates, whereas areas with less congestion benefit from lower prices.

The table below sorts the highest-priced areas in New York for homeowners to purchase a policy in. Buffalo ranks #13 costing $1,503 on average, which is around $125 each month.

Car insurance prices in Buffalo
Rank City Annual Rate
1 New York $2,654
2 Hempstead $2,279
3 Freeport $2,235
4 Levittown $2,001
5 West Babylon $1,932
6 Mount Vernon $1,919
7 Hicksville $1,919
8 Yonkers $1,900
9 Brentwood $1,853
10 Coram $1,732
11 New Rochelle $1,659
12 White Plains $1,629
13 Buffalo $1,503
14 Niagara Falls $1,225
15 Cheektowaga $1,203
16 West Seneca $1,201
17 Tonawanda $1,201
18 Syracuse $1,119
19 Utica $1,103
20 Troy $1,095
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Prices are approximated as the garaging address in Buffalo can influence prices significantly.

Comparing quotes for low-cost auto insurance is confusing at best, and figuring out which companies offer the most affordable car insurance rates for homeowners will require even more diligence.

Every insurance provider uses a little different formula to set their prices, so let’s take a look at the car insurance companies that tend to be cheaper in Buffalo.

Best Insurance Companies for Homeowners

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Cheapest auto insurance in New York ranked by cost per year
Rank Company Cost Per Year
1 USAA $1,152
2 Erie $1,242
3 Utica National $1,534
4 Allstate $1,541
5 Progressive $1,542
6 Travelers $1,575
7 MetLife $1,620
8 Amica $1,628
9 Preferred Mutual $1,754
10 New York Central Mutual $1,818
11 GEICO $1,869
12 State Farm $1,904
13 Safeco $1,966
14 Liberty Mutual $2,026
15 Central Mutual $2,028
16 Hanover $2,323
17 Encompass $2,662
18 Nationwide $3,054
19 Mercury $3,965
20 21st Century $4,455
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USAA quotes some of the cheapest car insurance rates in Buffalo at around $1,152 annually. Erie, Utica National, Allstate, and Progressive would also make the list of some of the cheapest Buffalo, NY insurance companies.

As the example above demonstrates, if you currently have coverage with Erie and switched to USAA, you might achieve a yearly price reduction of in the vicinity of $90. Insureds with Utica National could save as much as $382 a year, and Allstate customers might realize rate reductions of up to $389 a year.

To see if your current coverage is too expensive, click here to get quotes or quote prices from the following companies.

These prices are averages for all drivers and vehicles in New York and and are not figured with an exact vehicle garaging location for homeowners. So the company that has the cheapest price for you may not even be in the top 20 companies in the list above. That point stresses why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.

The illustration below illustrates how choosing a deductible can affect insurance costs when searching for cheap insurance for homeowners. The data assumes a single male driver, full coverage, and no discounts are taken into consideration.

In the chart above, a 50-year-old driver could reduce rates by $218 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $328 by switching to a $1,000 deductible. Younger drivers, like the Age 20 chart data, could possibly save as much as $714 every year by choosing a higher deductible.

If you do raise deductibles, it will now be necessary to have additional funds squirreled away to be able to pay the extra out-of-pocket expense that comes with higher deductibles.

Does full coverage make sense?

Finding the cheapest car insurance is probably important to most vehicle owners, and one good way to buy cheaper insurance for homeowners is to not buy comprehensive and collision coverage. The illustration below shows the difference between insurance premiums with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no claims, a clean driving record, $1,000 deductibles, drivers are not married, and no policy discounts are applied.

If we average all the age groups together, comprehensive and collision coverage on your policy costs $1,118 per year more than just insuring for liability. Many drivers may wonder when is the right time to remove full coverage. There is no written rule for dropping comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then it might be time to buy liability only.

For example, let’s pretend your vehicle’s claim settlement value is $11,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $10,000 after paying the physical damage deductible. If you are paying in excess of $1,000 annually to have full coverage, then you might want to consider buying only liability coverage.

There are some cases where dropping full coverage is not a good plan. If you haven’t paid off your loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

Your low-price policy may be costing you money

Buffalo car insurance rates are determined by lots of factors which can substantially decrease or increase the price you have to pay. Simply having a birthday, moving to a new city, or having an at-fault accident can cause premium changes that can make some companies cheaper than competitors.

Also, auto insurance companies file new New York auto insurance rates as often as every quarter to reflect underwriting profits or losses. Higher than normal claims can result in increased policy costs, while a profitable period can cause lower-cost Buffalo car insurance rates.

To help illustrate this point, the data below demonstrates which company has the cheapest car insurance in Buffalo, NY for a 45-year-old female driver with no accidents or violations, and a high credit rating. If we estimate rates based on her current risk factors, USAA has the lowest car insurance rates in Buffalo at $1,896 a year. This is $179 less than the average policy premium paid by New York drivers of $2,075. Erie, Utica National, Travelers, and Allstate are also on the list of the cheapest Buffalo, NY auto insurance companies.

Now we will pretend the driver from the first rate comparison a chargeable accident, slightly worse credit, and a few traffic violations. Because every insurance company uses their own calculation for determining rates, comparing quotes could result in a slightly different list of affordable companies as shown below.

Amica now has the cheapest car insurance in Buffalo, NY with MetLife, Preferred Mutual, Erie, and GEICO completing the list. This example shows why consumers need to take the time to perform a complete rate comparison when trying to get the cheapest car insurance rates for homeowners.

Prices are calculated by many factors and can increase or decrease at any time, so the cheapest company when you last compared rates may now not even be in the top five.

How to find low-cost insurance for homeowners

Below you’ll find some money-saving ideas that can help you get cheap coverage.

That final tip is certainly vital, as we emphasized in the prior article. Car insurance prices vary considerably, so don’t hesitate to switch carriers if a more affordable price is available. Sticking with a specific company is fine, but it’s not a great idea if that dedication is costing a lot of money. If you have a few minutes, shop around to find cheaper auto insurance for homeowners in Buffalo.

The Buffalo car insurance agencies listed below can probably aid you in deciding which is the best policy, as some drivers aren’t sure which coverage they need and prefer to have a professional recommendation when comparing insurance rates for people who own their homes. It can be difficult to find the cheapest car insurance policy, and a professional agent can provide you satisfaction knowing you have adequate asset protection. To locate a Buffalo insurance agent close to where you live, click the button at the bottom or click here to compare prices now.

Buffalo Queen City Insurance Agency
26 French Lea RdBuffalo, NY 14224(716) 608-6047

C.N. Maranto Agency, Inc.
36 Hopkins RdBuffalo, NY 14221(716) 633-1818

P.A.G. Agency Inc
1660 Kensington AveBuffalo, NY 14215(716) 835-3221

Niagara National Insurance
5001 Genesee StBuffalo, NY 14225(716) 684-6000

More Buffalo, NY insurance agents