Save Money on Jeep Compass Insurance in Newark

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Insurance rates Jeep Compass in NewarkWould you like an easy way to compare low-cost auto insurance rates in Newark, NJ? Newark consumers have lots of choices when looking for low-cost Jeep Compass insurance. You can either spend your time struggling with agents to get rate comparisons or save time using the internet to compare rates. There are both good and bad ways to shop for auto insurance so you're going to learn the best way to compare rates on a Jeep and locate the lowest possible price either online or from Newark insurance agents.

We don't have to point out that fact that car insurance companies don't want you comparing rates. Drivers who shop for lower prices are inclined to move their business because the odds are good of finding a lower-cost company. A study showed that people who compared price quotes annually saved approximately $3,450 over four years compared to drivers who never compared other company's rates.

If finding the best rates on car insurance in Newark is your ultimate target, then understanding how to get price quotes and compare coverages can save money and time.

Jeep Compass coverage statistics

The premium information shown below highlights detailed analysis of insurance premium costs for Jeep Compass models. Having a better understanding of how car insurance prices are established can benefit drivers when making smart choices when buying a car insurance policy.

Jeep Compass Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $172 $318 $504 $30 $152 $1,176 $98
Compass Sport 4WD $198 $386 $504 $30 $152 $1,270 $106
Compass Limited 2WD $198 $386 $504 $30 $152 $1,270 $106
Compass Limited 4WD $198 $386 $504 $30 $152 $1,270 $106
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Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Premium amounts do not factor in specific location information which can increase or decrease coverage rates noticeably.

Policy deductible comparison

One of the more difficult decisions when buying auto insurance is the level to set your comp and collision deductibles. The tables below determine the differences in price between high and low physical damage coverage deductibles. The first set of rates uses a $100 comprehensive and collision deductible and the second price chart uses a $500 deductible.

Jeep Compass insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $360 $614 $480 $28 $144 $1,651 $138
Compass Sport 4WD $414 $746 $480 $28 $144 $1,837 $153
Compass Limited 2WD $414 $746 $480 $28 $144 $1,837 $153
Compass Limited 4WD $414 $746 $480 $28 $144 $1,837 $153
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Jeep Compass insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Compass Sport 2WD $264 $414 $480 $28 $144 $1,330 $111
Compass Sport 4WD $302 $504 $480 $28 $144 $1,458 $122
Compass Limited 2WD $302 $504 $480 $28 $144 $1,458 $122
Compass Limited 4WD $302 $504 $480 $28 $144 $1,458 $122
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Prices do not factor in specific zip code location which can change prices noticeably.

Based on the data above, we can derive that using a $100 deductible would cost the average driver about $30 more each month or $360 each year than choosing the higher $500 deductible. Because you would pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you have at a minimum 13 months between claim filings, you would come out ahead by selecting a higher deductible.

The information below demonstrates how deductibles and can affect Jeep Compass yearly insurance costs for different age groups. The data is based on a married female driver, comprehensive and collision coverage, and no discounts are taken into consideration.

Insurance Rate Influencing Factors

One of the most helpful ways to save on auto insurance is to to have a grasp of some of the factors that aid in calculating your auto insurance rates. When you understand what determines base rates, this enables you to make decisions that can earn you much lower annual insurance costs.

  • You may save more by combining policies - The majority of companies give a discount to insureds who have multiple policies with them in the form of a multi-policy discount. Discounts can be as much as ten percent or more Even with this discount applied, consumers should still shop around to verify if the discount is saving money.There is a good possibility that you can save money by buying auto insurance from a different company.
  • Insurance premiums are higher for high performance vehicles - The make and model of the car you need insurance for makes a huge difference in your premium level. Economy passenger models receive the most favorable rates, but your final cost has many other factors.

    The chart below assumes a married male driver age 20, full coverage with $100 deductibles, and no discounts or violations. It compares Jeep Compass insurance premiums compared to other makes and models that have a range of performance rating factors.

  • Lower deductibles cost more - Insurance for physical damage, also called comprehensive and collision insurance, covers your vehicle from damage. A few examples of covered claims could be collision with another vehicle, collision with an animal, and rolling your vehicle. The deductibles you choose define the amount you are willing to pay out-of-pocket if the claim is covered. The higher the amount you are required to pay out-of-pocket, the lower your rates will be.
  • Age of drivers - Older, more experienced drivers tend to be more responsible, are lower risk to insure, and tend to be get fewer driving tickets. Teen drivers are known to be more careless in a vehicle and because of this, their auto insurance rates are much higher.

    The chart below uses these assumptions: single driver, full coverage with $500 deductibles, and no discounts or violations.

  • Higher prices for high stress employers - Do you have a high-stress occupation? Careers like military generals, business owners, and medical professionals generally have higher average rates attributed to high stress levels and long work days. On the flip side, occupations like professors, engineers and retirees pay lower than average rates.
  • Stay claim-free and reduce auto insurance rates - Companies in New Jersey award the best rates to insureds who are claim-free. If you're an insured who likes to file claims you can expect increased rates or even have your policy non-renewed. Insurance coverage is intended for major claims that would cause financial hardship.
  • Avoid traffic tickets - How you drive has a huge affect on how much you pay. Attentive drivers get better rates than bad drivers. Having a single ticket can bump up the cost by as much as thirty percent. Drivers unfortunate enough to have multiple violations such as DUI or reckless driving may find that they have to to prove financial responsibility with their state's licensing department in order to drive a vehicle legally.

    The illustration below illustrates how traffic citations and accident claims raise Jeep Compass auto insurance rates for different ages of insureds. The premium estimates are based on a married female driver, comp and collision included, $500 deductibles, and no additional discounts are factored in.

  • Better rates on safer cars - Vehicles that have high safety ratings can get you lower premiums. Vehicles engineered for safety reduce occupant injuries and fewer serious injuries translates directly to fewer claims and cheaper rates on your policy. If your Jeep Compass has at least an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
  • Insurance loss probability for a Jeep Compass - Insurance companies factor in insurance loss information when setting premium costs. Vehicles that the data determines to have higher number or severity of losses will have higher rates for specific coverages.

    The data below shows the insurance loss data for Jeep Compass vehicles. For each type of coverage, the claim probability for all vehicles, regardless of make, model or trim level, is represented as 100. Percentages below 100 represent a good loss history, while values over 100 indicate more frequent claims or larger claims.

    Insurance Loss Ratings for Jeep Compass Vehicles
    Specific Jeep Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Jeep Compass 4dr 2WD 87 135 58 128 124 142
    Jeep Compass 4dr 4WD 76 114 63 99 107 106

    Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Quote often and quote early

You just read a lot of tips how to save on Jeep Compass insurance in Newark. The key thing to remember is the more you quote Newark auto insurance, the higher the chance of saving money. Consumers could even find that the lowest premium rates are with some of the smallest insurance companies.

Drivers switch companies for many reasons like unfair underwriting practices, policy cancellation, lack of trust in their agent or even denial of a claim. It doesn't matter what your reason, switching companies is actually quite simple.

As you go through the steps to switch your coverage, make sure you don't sacrifice coverage to reduce premiums. In many instances, someone sacrificed comprehensive coverage or liability limits and learned later that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to get the best coverage possible at the best price while still protecting your assets.

How to save on Jeep Compass insurance in Newark

If you want to find the absolute lowest rates, then the best way to find discount auto insurance rates in Newark is to regularly compare quotes from insurance carriers in New Jersey.

  1. Take a little time to learn about the different coverages in a policy and the things you can control to prevent expensive coverage. Many policy risk factors that drive up the price such as speeding and a low credit rating can be amended by making lifestyle changes or driving safer.
  2. Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from one company like GEICO and State Farm, while independent agents can give you price quotes from multiple insurance companies.
  3. Compare the new rate quotes to the price on your current policy and determine if cheaper Compass coverage is available in Newark. If you find a lower rate quote and decide to switch, ensure there is no coverage lapse between policies.
  4. Notify your current company of your intention to cancel your current car insurance policy. Submit a signed application and payment for your new policy. Make sure you put the new certificate verifying coverage in an easily accessible location.

An important note is that you'll want to compare identical deductibles and limits on every price quote and and to analyze as many different companies as possible. Doing this ensures an accurate price comparison and a good representation of prices.

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