The Defense That Never Sleeps: New York City Insurance

Ahh, the Capital of the World. Whether your game is fashion, food, finance or fun, locals know there's no place better. With all the new restaurants to try, favorite haunts to frequent, and latest styles to keep up with, who's got the money to spend on insurance? As it turns out, virtually everyone in the Five Boroughs does. Great New York City insurance is more obtainable than you think. Like knowing where to find the best used paperbacks, or the best wide noodles in Chinatown, you just have to know the territory. If you compare enough offers, New York City insurance quotes will drop quickly.

Home Insurance in the Big Apple

Where you live definitely influences your New York insurance quotes. Manhattan residents aren't exactly searching for single-family home premiums. Most residents choose and HO-3 home insurance policy, which covers you for almost every peril, other than those specifically excluded (such as earthquake or war)-though you may want the HO-5, which also covers your possessions against these perils. Tenants will need an HO-4. You'll want to carefully value your dwelling and possessions before beginning your search. Take note: you'll need to insure your home for at least 80% of its replacement cost in order to automatically be issued full replacement cost.

You may not consider the crime rate in your neighborhood or proximity to the nearest fire department in terms of home insurance costs before you purchase-or you may not have the choice. But your insurer will. Do you have a dependable security system and doorman? Have you added deadbolt locks? Enhanced anti-theft steps sometimes save as much as 10% on New York City insurance quotes. Recent numbers show the average resident pays about $630 per year for home insurance in New York. If you add smoke alarms and fire extinguishers, you may be able to knock almost $100 from that cost.

The State Law

While it's true that over 50% of New Yorkers use mass transit, when you are in the car for work, you'll spend over 38 minutes a day getting there-the longest commute time in the country's major cities. That's a lot of time each day to risk breaking the law: New York State requires all drivers to purchase a minimum 25/50/10 policy: $25,000 for bodily injury to one person, $50,000 for bodily injury to all persons, and $10,000 for property damage in any one accident. The law also specifies a "no-fault" policy of $50,000 and an uninsured/underinsured motorist bodily injury policy of at least $25,000/$50,000. Since many residents buy additional protection, compare New York City insurance quotes to see who will give you the best coverage for your buck.

Mastering the Boroughs

Think of your car insurance policy in the same way as the innate sense of direction New Yorkers have; use your instincts to guide your decisions. Sure, New York City auto insurance quotes are among the highest in the country, but savvy shoppers can always save money. A single 38-year-old man who drives a 2005 Acura MDX three days a week will pay about $867 a year for the state-required minimum. But if he gets married and adds his wife's 2006 Jeep Liberty to his policy, the total cost for both drivers will be about $1,430-a savings of more than $100 per person. He should also see what effect a car alarm, or paying off a car loan, has on his premium. On the other hand, if he foregoes insurance for a short period of time and then searches New York auto insurance quotes, he'll likely see $200 or more added to the cost.

Prepare Yourself

Tom Wolfe once said of New York, "Culture just seems to be in the air, like part of the weather." Unfortunately, dangers-on the road, in the air, and usually unexpected-are all around, too. When you shop around for insurance, consider letting a free service like handle your comparison shopping. You'll see myriad ways to save, such as combining your auto and home policies, which often saves you hundreds of dollars.