Buying the cheapest insurance for a Nissan Versa in New Jersey relies on a very complex rating algorithm that uses multiple factors such as whether you are single or married, the size of your vehicle, and your driving record. New Jersey drivers will pay around $1,832 annually for Versa insurance, but that cost is an estimate calculated using a 40-year-old single female driver with full comprehensive and collision coverage and $100 deductibles.
This brings up the issue that more than likely you may not be 40 years old (or even female), you might be married instead of single, or maybe your Versa doesn’t need full coverage. Even a slight change in rating factors or requested coverage amount may result in significant differences in the amount insurance costs for a Nissan Versa.
This example demonstrates why the best method for finding cheap insurance prices for your Nissan is to compare as many rates as possible.
Your vehicle’s trim level will be a contributing factor to the cost of insurance, so the cost to insure a Versa 1.6 SEDAN will be $554 less than the insurance cost for the higher-end Versa 1.8 SL SEDAN model, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Versa 1.6 SEDAN||$294||$694||$624||$36||$188||$1,836||$153|
|Versa 1.8 S Hatchback||$346||$994||$624||$36||$188||$2,188||$182|
|Versa 1.8 S SEDAN||$346||$994||$624||$36||$188||$2,188||$182|
|Versa 1.8 SL Hatchback||$398||$1144||$624||$36||$188||$2,390||$199|
|Versa 1.8 SL SEDAN||$398||$1144||$624||$36||$188||$2,390||$199|
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Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Price estimates do not factor in Newark location which can change premium rates greatly.
Newark insurance companies
Ending up with the best insurance company can be difficult considering how many different companies sell coverage in Newark. The rank data below may help you analyze which companies you want to consider when trying to find the cheapest insurance for a Nissan Versa. These ratings are only comprised of major nationwide insurance companies, so smaller companies that only insure vehicles in New Jersey will not be included in this list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Reckless driving habits raise insurance rates
One of the best ways to receive good insurance premiums in New Jersey for a Versa is to be a careful driver and avoid tickets and accidents. The chart below illustrates how violations and at-fault fender-benders can raise auto insurance costs for different age groups. The information is based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are factored in.
The data in the chart shows the average cost of a car insurance policy in Newark per year with no accidents and a clean driving record is $2,663. Add in two speeding tickets and the average cost increases to $3,688, an increase of $1,026 each year. Now get one accident along with the two speeding tickets and the 12-month cost of insurance for a Nissan Versa increases to an average of $4,748. That’s an increase of $2,086, or $174 per month, just for not paying attention while driving!
Last year’s bargain might be this year’s rip off
Newark insurance rates are calculated based on many things which can significantly increase or decrease the price you pay. Getting older, buying a home, or having an accident can trigger changes in premium that can make some companies affordable when they were higher priced.
Not only may your situation change, but auto insurance companies file new New Jersey auto insurance rates as often as every three months to ensure their profitability. Higher than normal claim frequency or severity may cause more expensive prices, while profitable underwriting can result in more affordable Versa insurance rates.
The data below shows the company with the cheapest car insurance in Newark, NJ for a 40-year-old male driver with no prior accidents, a clean driving record, and good credit. Based on his current risk factors, 21st Century may have the best car insurance rates in Newark at $1,529 each year. This is $323 less than the average premium paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades are also on the list of the most affordable Newark, NJ auto insurance companies.
Now we will give the driver from above a couple of claims, slightly worse credit, and an imperfect driving record. Due to the fact that every insurance company has a different formula for establishing rates, comparing insurance quotes may now show a significantly different list of affordable Newark car insurance companies as shown below.
Allstate now has the best price on car insurance in Newark, NJ with The Hartford, USAA, Mercury, and Travelers completing the list. This shows why consumers need to compare lots of rates when trying to find the best insurance rates for a Nissan Versa. Auto insurance prices can be determined by many risk factors and can increase or decrease at any time, so the best company the last time you shopped your coverage around may now be costing you a lot of money.
How to find budget-friendly insurance for a Nissan Versa
It’s not impossible to find cheaper rates, and here are some of the better thrifty ideas that can help you buy low-cost car insurance.
- Bundle home and auto and save
- Vehicles with good safety ratings are usually cheaper to insure
- Earn discounts for being claim-free
- Do not get into accidents
- Speeding tickets and other violations increase rates
- Don’t waste money on full coverage for older vehicles
- Shop around and save
That final tip is notably valuable, as was pointed out in the prior article. Auto insurance prices in Newark fluctuate considerably, so don’t be unwilling to buy a different policy if you can find a cheaper rate. Many drivers have brand loyalty and that’s fine, but it’s not recommended if that dedication is costing a fortune every year. Now is a great time to compare prices to find cheaper insurance for a Nissan Versa.
The Newark auto insurance agencies shown below can probably provide answers to your questions and help you determine which auto insurance policy fits you best, as some people prefer to get some help when shopping for cheaper insurance for a Nissan Versa. It can be time-consuming to find the best policy yourself, so getting advice from a licensed New Jersey insurance agent can provide you satisfaction knowing you have adequate coverage when you need it most. To locate a Newark insurance agent by location nearest to you, click the link at the bottom or click here to compare rates now.
274 Chestnut St – Newark, NJ 07105 – (973) 274-0500
568 Broadway # B – Newark, NJ 07104 – (973) 482-5898
Morais Insurance Agency, Inc.
217 Ferry St – Newark, NJ 07105 – (973) 344-2000
326 Bloomfield Ave – Newark, NJ 07107 – (973) 481-5300