A recent study showed that most car insurance policyholders renewed their policy with the same company for over three years, and just under half have never even compared rates from other companies. Many consumers in Newark could save up to $700 a year just by getting comparison quotes, but most tend to underestimate the benefits if they just switched companies.
The most effective way to get low-cost Hyundai Sonata Hybrid insurance is to start comparing rates regularly from providers that sell auto insurance in Newark.
- Get an understanding of how auto insurance works and the modifications you can make to keep rates in check. Many rating factors that are responsible for high rates like distracted driving and a negative credit rating can be improved by being financially responsible and driving safely. Read the full article for the details to lower rates and find available discounts that you may qualify for.
- Request rate estimates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like GEICO and State Farm, while independent agencies can quote prices for a wide range of insurance providers. View a list of agents
- Compare the new quotes to your current policy to determine if switching companies saves money. If you can save some money, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Provide notification to your current agent or company to cancel your current car insurance policy. Submit a down payment along with a completed application to your new agent or company. Make sure you keep your new certificate verifying coverage somewhere easily accessible.
One bit of advice is to try to compare the same physical damage deductibles and liability limits on every quote and and to get rates from as many companies as you can. This ensures an apples-to-apples comparison and the best price quote selection.
Most larger insurance companies allow consumers to get insurance quotes on the web. The process is fairly straightforward as all you need to do is type in the coverages you want into the form. After you complete the form, the company's rating system automatically orders your credit score and driving record and gives you a price quote.
Quoting online for Hyundai Sonata Hybrid insurance in Newark simplifies rate comparisons, and it's necessary to compare as many rates as possible if you are searching for a better rate.
If you want to compare pricing, check out the car insurance providers below. To compare your current rates, we recommend you input the coverages identical to your current policy. This makes sure you will have an apples-to-apples comparison for similar coverage.
The providers in the list below have been selected to offer free rate quotes in Newark, NJ. If you want cheap car insurance in Newark, we recommend you compare several of them to find the lowest car insurance rates.
Why you need to buy insurance
Despite the high cost of buying insurance for a Hyundai Sonata Hybrid in Newark, buying insurance serves several important purposes.
- Almost all states have mandatory insurance requirements which means you are required to carry a specific level of liability protection 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 have a lien on your Sonata Hybrid, it's most likely the lender will require you to carry insurance to guarantee loan repayment. If the policy lapses, the lender will be forced to insure your Hyundai for a much higher rate and force you to reimburse them for it.
- Insurance safeguards not only your Hyundai Sonata Hybrid but also your assets. It will also cover medical transport and hospital expenses for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, also covers legal expenses if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, your policy will pay all costs to repair after the deductible has been paid.
The benefits of buying enough insurance more than cancel out the cost, especially with large liability claims. On average, a vehicle owner in Newark is overpaying more than $855 a year so it's important to compare rates at least once a year to save money.
Auto insurance coverages explained
Having a good grasp of your policy helps when choosing the best coverages for your vehicles. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording.
This provides protection from damage or injury you incur to people or other property that is your fault. It protects you against claims from other people. It does not cover damage to your own property or vehicle.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 15/30/5 which means a $15,000 limit per person for injuries, a per accident bodily injury limit of $30,000, and $5,000 of coverage for damaged property.
Liability can pay for things like emergency aid, medical services and medical expenses. The amount of liability coverage you purchase is up to you, but consider buying as much as you can afford. New Jersey state law requires minimum liability limits of 15/30/5 but you should think about purchasing better liability coverage.
The chart below demonstrates why buying low liability limits may not be enough.
Medical expense coverage
Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills for rehabilitation expenses, hospital visits, funeral costs and prosthetic devices. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to both the driver and occupants in addition to any family member struck as a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay
Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive can pay for claims like theft, hail damage and falling objects. The maximum payout your auto insurance company will pay is the market value of your vehicle, so if it's not worth much more than your deductible it's not worth carrying full coverage.
Collision coverage pays for damage to your Sonata Hybrid from colliding with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.
Collision insurance covers things such as colliding with another moving vehicle, sustaining damage from a pot hole and crashing into a ditch. This coverage can be expensive, so consider dropping it from older vehicles. It's also possible to increase the deductible on your Sonata Hybrid to save money on collision insurance.
Uninsured or underinsured coverage
Uninsured or Underinsured Motorist coverage provides protection from other motorists when they do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle's occupants and also any damage incurred to your Hyundai Sonata Hybrid.
Since a lot of drivers only purchase the least amount of liability that is required (15/30/5), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
Persistence will pay off
Consumers switch companies for a variety of reasons including unfair underwriting practices, delays in responding to claim requests, poor customer service or even extreme rates for teen drivers. No matter why you want to switch, choosing a new insurance company is pretty easy and you might even save some money in the process.
As you shop your coverage around, it's very important that you do not reduce coverage to reduce premium. In many instances, an accident victim reduced comprehensive coverage or liability limits only to discover later that the small savings ended up costing them much more. The goal is to buy enough coverage at the best cost, not the least amount of coverage.
Cost effective Hyundai Sonata Hybrid insurance is attainable from both online companies and from local agencies, and you need to comparison shop both so you have a total pricing picture. A few companies do not offer online rate quotes and usually these regional carriers sell through independent agents.
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- Who Has Affordable Auto Insurance for Handicapped Drivers in Newark? (FAQ)
- Who Has Cheap Car Insurance Rates for a Jeep Grand Cherokee in Newark? (FAQ)
- Understanding Limits and Deductibles (Allstate)
- Rollover Crash FAQ (iihs.org)
- Teen Driving Statistics (GEICO)