It's safe to conclude that car insurance companies don't want policyholders to shop around. Drivers who shop rates annually will, in all likelihood, switch auto insurance companies because there is a good probability of finding discount prices. A recent survey found that drivers who compared prices once a year saved as much as $3,500 over four years compared to those who never compared prices.
If saving the most money on Audi A5 insurance in Newark is your target objective, then having an understanding of the best way to shop and compare insurance premiums can make it easier to shop your coverage around.
The best way to get discount car insurance rates is to begin comparing prices regularly from providers who sell auto insurance in Newark.
- First, spend a few minutes and learn about individual coverages and the factors you can control to prevent high rates. Many factors that cause high rates like accidents, traffic tickets, and poor credit history can be eliminated by making minor driving habit or lifestyle changes. This article provides more details to help reduce premium rates and earn a bigger discount.
- Second, request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give prices from one company like GEICO and Allstate, while agents who are independent can quote prices from multiple sources. View insurance agents
- Third, compare the new rate quotes to your existing rates to see if a cheaper price is available in Newark. If you find a lower rate, make sure there is no lapse in coverage.
- Fourth, give notification to your current company of your intent to cancel your current auto insurance policy. Submit a completed policy application and payment for the new coverage. Once the paperwork is finalized, put the certificate of insurance with your vehicle's registration.
A good tip to remember is to use the same coverage limits and deductibles on each quote and and to get price quotes from every company you can. This guarantees an accurate price comparison and a complete price analysis.
If you are already insured, you will be able to get lower rates using the techniques covered below. Locating the most cost-effective car insurance policy in Newark is really not that difficult. Nevertheless, New Jersey vehicle owners must learn how big insurance companies price insurance differently and use it to find better rates.
To find affordable Newark auto insurance quotes, there are several ways to compare rate quotes from car insurance companies in your area. The easiest way to lower the rate you pay for Audi A5 insurance is to jump online and get quotes.
Doing online rates comparisons is so easy that it takes the place of having to go to insurance agents' offices. Quoting and buying Audi A5 insurance online eliminates the middleman unless you prefer the advice and guidance of a local agent. Although, it is possible price shop online but buy from a local insurance agent. When comparing car insurance rates, know that comparing more quotes increases the chance that you will find more affordable rates.
The car insurance companies shown below provide price comparisons in Newark, NJ. To get the best car insurance in New Jersey, it's a good idea that you compare several of them to get a more complete price comparison.
Car insurance statistics for an Audi A5
The information displayed next outlines detailed analysis of insurance prices for Audi A5 models. Having a better idea how auto insurance premiums are established can help customers make decisions on which insurance to purchase.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|A5 2.0T Quattro Premium 2-Dr Coupe||$328||$534||$536||$32||$160||$1,590||$133|
|A5 2.0T Quattro Premium Plus 2-Dr Coupe||$328||$534||$536||$32||$160||$1,590||$133|
|A5 3.2 Quattro Prestige 2-Dr Coupe||$328||$604||$536||$32||$160||$1,660||$138|
|A5 3.2 Quattro Premium Plus 2-Dr Coupe||$328||$604||$536||$32||$160||$1,660||$138|
|A5 2.0T Quattro Prestige 2-Dr Coupe||$328||$604||$536||$32||$160||$1,660||$138|
|A5 2.0T Premium 2-Dr Convertible||$328||$604||$630||$38||$188||$1,788||$149|
|A5 2.0T Premium Plus 2-Dr Convertible||$328||$604||$630||$38||$188||$1,788||$149|
|A5 2.0T Quattro Prestige S-Line 2-Dr Coupe||$362||$604||$536||$32||$160||$1,694||$141|
|A5 2.0T Prestige S-Line 2-Dr Convertible||$362||$604||$630||$38||$188||$1,822||$152|
|A5 2.0T Prestige 2-Dr Convertible||$362||$604||$630||$38||$188||$1,822||$152|
|A5 3.2 Quattro Prestige S-Line 2-Dr Coupe||$362||$674||$536||$32||$160||$1,764||$147|
|Get Your Own Custom Quote Go|
Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Rates do not factor in Newark location which can modify price quotes greatly.
When buying car insurance, a common question is which comprehensive and collision deductibles to buy. The rates shown below can help you understand the rate fluctuation when you buy lower versus higher physical damage coverage deductibles. The first set of rates uses a $100 deductible for comp and collision and the second set of prices uses a $1,000 deductible.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|A5 2.0T Quattro Premium 2-Dr Coupe||$520||$1014||$408||$24||$122||$2,113||$176|
|A5 2.0T Quattro Premium Plus 2-Dr Coupe||$520||$1014||$408||$24||$122||$2,113||$176|
|A5 3.2 Quattro Prestige 2-Dr Coupe||$520||$1146||$408||$24||$122||$2,245||$187|
|A5 3.2 Quattro Premium Plus 2-Dr Coupe||$520||$1146||$408||$24||$122||$2,245||$187|
|A5 2.0T Quattro Prestige 2-Dr Coupe||$520||$1146||$408||$24||$122||$2,245||$187|
|A5 2.0T Premium 2-Dr Convertible||$520||$1146||$480||$28||$144||$2,343||$195|
|A5 2.0T Premium Plus 2-Dr Convertible||$520||$1146||$480||$28||$144||$2,343||$195|
|A5 2.0T Quattro Prestige S-Line 2-Dr Coupe||$574||$1146||$408||$24||$122||$2,299||$192|
|A5 2.0T Prestige S-Line 2-Dr Convertible||$574||$1146||$480||$28||$144||$2,397||$200|
|A5 2.0T Prestige 2-Dr Convertible||$574||$1146||$480||$28||$144||$2,397||$200|
|A5 3.2 Quattro Prestige S-Line 2-Dr Coupe||$574||$1280||$408||$24||$122||$2,433||$203|
|Get Your Own Custom Quote Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|A5 2.0T Quattro Premium 2-Dr Coupe||$288||$534||$408||$24||$122||$1,376||$115|
|A5 2.0T Quattro Premium Plus 2-Dr Coupe||$288||$534||$408||$24||$122||$1,376||$115|
|A5 3.2 Quattro Prestige 2-Dr Coupe||$288||$604||$408||$24||$122||$1,446||$121|
|A5 3.2 Quattro Premium Plus 2-Dr Coupe||$288||$604||$408||$24||$122||$1,446||$121|
|A5 2.0T Quattro Prestige 2-Dr Coupe||$288||$604||$408||$24||$122||$1,446||$121|
|A5 2.0T Premium 2-Dr Convertible||$288||$604||$480||$28||$144||$1,544||$129|
|A5 2.0T Premium Plus 2-Dr Convertible||$288||$604||$480||$28||$144||$1,544||$129|
|A5 2.0T Quattro Prestige S-Line 2-Dr Coupe||$318||$604||$408||$24||$122||$1,476||$123|
|A5 2.0T Prestige S-Line 2-Dr Convertible||$318||$604||$480||$28||$144||$1,574||$131|
|A5 2.0T Prestige 2-Dr Convertible||$318||$604||$480||$28||$144||$1,574||$131|
|A5 3.2 Quattro Prestige S-Line 2-Dr Coupe||$318||$674||$408||$24||$122||$1,546||$129|
|Get Your Own Custom Quote Go|
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Information does not factor in specific location information which can revise rates greatly.
Based on these figures, using a $100 deductible will cost in the ballpark of $67 more each month or $804 a year than quoting the higher $1,000 deductible. Since you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you normally go more than 13 months between claim filings, you would save money if you elect the higher deductible.
The chart below demonstrates how deductible levels and can change Audi A5 yearly insurance costs for different categories of driver ages. The premiums assume a married male driver, full coverage, and no discounts are applied to the premium.
Reckless driving habits raise car insurance rates
The illustration below demonstrates how traffic citations and accident claims drive up Audi A5 auto insurance rates for each age group. The premiums assume a married male driver, full physical damage coverage, $500 deductibles, and no other discounts are factored in.
Cost comparison with and without full coverage
The illustration below shows the difference between Audi A5 yearly insurance costs when comparing full coverage to state minimum liability only. The prices are based on no violations or accidents, $1,000 deductibles, marital status is single, and no discounts are factored in.
Are you wasting money paying for full coverage?
There isn't a written rule to exclude physical damage coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is 10% or more of the vehicle's replacement cost less your deductible, then it may be the right time to buy liability only.
For example, let's assume your Audi A5 replacement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $3,000 after paying the physical damage deductible. If it's costing you more than $300 a year for full coverage, then you may need to consider dropping full coverage.
There are some scenarios where buying only liability insurance is not a good plan. If you still have a loan on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not drop full coverage.
It may be expensive, but it's not optional
Despite the high insurance cost for a Audi A5 in Newark, buying insurance serves a purpose in several ways.
- Most states have minimum liability requirements which means state laws require a minimum amount of liability in order to drive the car legally. In New Jersey these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If you took out a loan on your vehicle, it's most likely the lender will require you to buy full coverage to guarantee loan repayment. If you do not pay your insurance premiums, the bank will be required to insure your Audi at an extremely high rate and require you to fork over a much higher amount than you were paying before.
- Insurance safeguards both your Audi and your personal assets. Insurance will also pay for hospital and medical expenses that are the result of an accident. Liability coverage, the one required by state law, will also pay attorney fees if you are sued as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.
The benefits of insuring your A5 definitely exceed the price paid, especially if you ever need it. According to a survey of 1,000 drivers, the average driver overpays as much as $850 per year so it's very important to do a rate comparison each time the policy renews to make sure the price is not too high.
What Determines Audi A5 Insurance Premiums?
Consumers need to have an understanding of the factors that come into play when calculating your policy premiums. When you know what positively or negatively positively or negatively impacts your premiums, this allows you to make good choices that may reward you with cheaper rates.
- Add-on coverages could be costing you - There are many additional coverages you can purchase if you aren't diligent. Coverage for things like personal injury protection, better glass coverage, and extra equipment coverage are probably not needed. They may sound like good ideas when you first buy your policy, but if you've never needed them in the past eliminate the coverages to reduce your premium.
- Low physical damage deductibles cost more - Physical damage insurance, aka comp and collision, helps pay for damage to your vehicle. Some instances where coverage would apply are a dented fender, damage caused by hail, and windstorm damage. Deductibles for physical damage define how much you are willing to pay out-of-pocket if the claim is covered. The higher the amount you're willing to pay, the less money you will pay for car insurance.
- Where do you drive? - The higher the mileage driven in a year's time the higher your rate. The majority of insurers calculate prices based on their usage. Autos that sit idle most of the time receive better premium rates as compared to vehicles used primarily for driving to work. Double check that your vehicle rating reflects the right rating data. An improperly rated A5 may be costing you.
Premiums are impacted by vehicle performance - The make and model of the car you own makes a huge difference in how high your rates are. Low performance passenger models receive the most favorable rates, but the final cost of insurance is determined by many other factors.
The next chart uses these assumptions: single female driver age 20, full coverage with $500 deductibles, and no discounts or violations. It shows Audi A5 insurance premiums compared to other vehicles that have a range of performances.
Age of drivers - Beginning drivers in New Jersey have been known to be inattentive when at the wheel of a vehicle and because of this, their car insurance rates are much higher. Adding a beginning driver to your policy will cause a huge premium hike. Older drivers are viewed as being more responsible, cost insurance companies less in claims, and receive fewer citations.
The data below is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
- Rural areas have lower rates - Living in a small town can save you money when shopping for auto insurance. Fewer people means reduced accidents in addition to fewer liability claims. Drivers in populated New Jersey areas have to deal with more aggressive driving styles and longer commutes to work. Spending more time driving means more chances of being involved in an auto accident.
- Do you really need to file those policy claims? - Car insurance companies in New Jersey give the best rates to insureds who do not rely on their insurance for small claims. If you are the type of insured that files lots of claims you can look forward to much higher rates or policy non-renewal. Your car insurance is designed for major claims that would cause financial hardship.
- How much liability protection do you need? - The liability coverage on your policy is the protection if you are ruled to be at fault for damages from an accident. This coverage provides legal defense coverage up to the limits shown on your policy. Liability is cheap compared to insuring for physical damage coverage, so buy as much as you can afford.
Insurance losses for an Audi A5 - Insurance companies use claims history to calculate a price that will offset any claims. Models that statistically have higher losses will have a higher cost to insure.
The data below shows the collected loss data for Audi A5 vehicles. For each policy coverage type, the loss probability for all vehicles, regardless of make or model, is set at 100. Numbers that are below 100 indicate better than average losses, while numbers that are greater than 100 point to more frequent losses or an increased probability of a larger loss.
Auto Insurance Loss Data for Audi A5 Models Specific Audi Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Audi A5 2dr 4WD 196 92 140 73 83 100 Audi A5 Convertible 4WD 147 73 140 56BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Get lower-cost rates with discounts
Some providers don't always publicize every possible discount very clearly, so the following is a list of a few of the more common and also the more inconspicuous credits available to lower your premiums when you buy Newark auto insurance online.
- Discounts for Multiple Vehicles - Buying insurance for multiple cars with the same insurance company qualifies for this discount.
- Seat Belts Save - Drivers who require all vehicle occupants to fasten their seat belts can save a little off PIP or medical payments premium.
- Anti-theft System - Cars, trucks, and SUVs optioned with advanced anti-theft systems can help prevent theft and that can save you a little bit as well.
- Home Ownership Discount - Just owning your own home can save a few bucks since home ownership shows financial diligence.
- Smart Student Discounts - Getting good grades can get you a discount of up to 25%. Many companies even apply the discount to college students up to age 25.
- Accident Forgiveness Coverage - This isn't a discount exactly, but some insurance companies will turn a blind eye to one accident without raising rates if you are claim-free for a certain period of time.
- Driver's Education for Students - Cut your cost by having your teen driver enroll in driver's education in school or through a local driver safety program.
- Drive Less and Save - Keeping the miles down on your Audi can earn lower premium rates on the low mileage vehicles.
You should keep in mind that most discounts do not apply to the whole policy. Some only apply to the cost of specific coverages such as medical payments or collision. Just because you may think all those discounts means the company will pay you, company stockholders wouldn't be very happy. But any discount will help lower the amount you pay for coverage.
The diagram below compares Audi A5 insurance prices with and without discounts applied to the premium. The data is based on a female driver, no claims or driving citations, New Jersey state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, claim-free, homeowner, safe-driver, and multi-policy discounts applied.
Popular insurance companies and the discounts they provide are:
- State Farm offers discounts for Steer Clear safe driver discount, accident-free, driver's education, good driver, anti-theft, and Drive Safe & Save.
- Esurance may offer discounts for multi-policy, Switch & Save, anti-theft, multi-car, defensive driver, and online shopper.
- Progressive discounts include continuous coverage, good student, online signing, multi-policy, homeowner, and online quote discount.
- Liberty Mutual includes discounts for teen driver discount, good student, newly retired, new move discount, and new vehicle discount.
- Auto-Owners Insurance policyholders can earn discounts including multiple vehicles, multi-policy, student away at school, anti-theft, safe vehicle, paid in full, and safe driver.
- GEICO offers premium reductions for daytime running lights, membership and employees, good student, emergency military deployment, anti-theft, defensive driver, and driver training.
Double check with every insurance company which discounts they offer. Some of the discounts discussed earlier may not be offered in Newark. To view insurance companies who offer discounts in New Jersey, click this link.
Local Newark insurance agents and auto insurance
Many drivers still like to talk to a local agent and that is a personal choice. The biggest benefit of getting free rate quotes online is you can get cheap auto insurance quotes but still work with a licensed agent.
After filling out this quick form, your insurance coverage information is transmitted to participating agents in Newark that can provide free Newark auto insurance quotes to get your business. There is no reason to drive around since rate quotes are delivered immediately to you. Get lower rates without having to waste a lot of time. If you wish to get a price quote from a specific auto insurance provider, feel free to navigate to their website and fill out the quote form the provide.
Picking a company is decision based upon more than just a cheap quote. These are some questions you should get answers to.
- Are they giving you every discount you deserve?
- By raising physical damage deductibles, how much would you save?
- Do they write coverage based solely on cost?
- How many companies do they write for?
- Does the quote include credit and driving reports?
- Do you work with a CSR or direct with the agent?
- Where are claims handled?
- How much experience to they have in personal lines coverages?
Different types of auto insurance agents in Newark
If you want a local Newark insurance agency, it's important to understand the types of agencies and how they operate. Auto insurance agents can be classified as either independent agents or exclusive agents.
Exclusive insurance agents generally can only insure with one company and some examples include Farmers Insurance and State Farm. These agents are unable to shop your coverage around so they have no alternatives for high prices. Exclusive insurance agents receive extensive training in insurance sales which aids in selling service over price.
Listed below is a list of exclusive insurance agencies in Newark who can help you get price quote information.
Independent Insurance Agents
Independent agents are not employed by one company and that allows them to write policies through lots of different companies and get the cheapest rates. To transfer your coverage to a different company, an independent agent can move your coverage and you won't have to switch agencies.
When shopping rates, you should always get quotes from several independent insurance agents to get the most accurate price comparison.
Below is a short list of independent insurance agents in Newark that can give you rate quotes.
Astor C Wilson Insurance Agency
88 Pacific St - Newark, NJ 07105 - (973) 491-0002 - View Map
Cheap insurance premiums are out there
When you buy Newark auto insurance online, never sacrifice coverage to reduce premiums. There have been many situations where an insured dropped liability limits or collision coverage only to find out that the small savings ended up costing them much more. The proper strategy is to purchase plenty of coverage at a price you can afford, but do not sacrifice coverage to save money.
We just covered some good ideas how to save on Audi A5 insurance in Newark. The most important thing to understand is the more you quote Newark auto insurance, the higher your chance of finding the cheapest Audi A5 rate quotes. You may even discover the lowest premium rates are with a small local company. Regional companies often have lower prices on specific markets as compared to the big name companies such as GEICO and State Farm.
To read more, link through to these articles:
- Understanding your Policy (NAIC.org)
- Who Has Cheap Newark Auto Insurance Quotes for Uber Drivers? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Company Car in Newark? (FAQ)
- What Auto Insurance is Cheapest for Teenagers in Newark? (FAQ)
- Cellphones, Texting and Driving (iihs.org)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Understanding Rental Car Insurance (Insurance Information Institute)