The recommended way to get budget car insurance rates in Newark is to regularly compare price quotes from different companies in New Jersey. Drivers can shop around by following these guidelines.
First, get a basic knowledge of individual coverages and the factors you can control to keep rates in check. Many rating factors that result in higher prices such as accidents, traffic tickets, and a not-so-good credit rating can be controlled by paying attention to minor details.
Second, request price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can give quotes from one company like GEICO and Allstate, while agents who are independent can quote rates from many different companies. Click to view companies
Third, compare the quotes to your current policy premium to see if cheaper 9-5 coverage is available. If you find a lower rate quote and decide to switch, ensure there is no coverage lapse between policies.
Fourth, notify your current company of your intention to cancel your current auto insurance policy. Submit a down payment along with a completed application to your new company or agent. Immediately place the new proof of insurance paperwork in your vehicle.
A tip to remember is to compare identical coverages on every price quote and and to look at as many companies as feasibly possible. This helps ensure a fair rate comparison and a complete price analysis.
Unbelievable but true according to a study most drivers have remained with the same auto insurance company for more than four years, and approximately 40% of consumers have never compared rates to find affordable insurance. Many consumers in Newark could save an average of nearly $700 each year just by comparing rates, but they don't understand how simple it is to find affordable auto insurance rates.
If you already have coverage, you stand a good chance to be able to buy cheaper auto insurance using the tips covered below. Locating the best rates in Newark can initially seem challenging. But New Jersey car owners can benefit from knowing how companies calculate their prices because rates fluctuate considerably.
To find the best auto insurance quotes, there are several ways to compare quotes from different companies. The fastest way to find affordable Saab 9-5 insurance rates involves getting comparison quotes online.
Getting free quotes online is quite simple, and it replaces the need to call or drive to and from local Newark insurance agencies. The internet eliminates the middleman unless you have a need for the professional guidance that only an agent can give. If you prefer, some companies allow you to get the lowest quotes online but buy the policy through an agent.
Keep in mind that more quotes will enable you to find a lower rate. Some smaller insurers do not give online rate quotes, so you also need to get quotes from the smaller companies as well.
The companies shown below have been selected to offer free rate quotes in New Jersey. If multiple companies are listed, we recommend you compare several of them in order to get a fair rate comparison.
Analysis of coverages
The data table shown below outlines a range of prices for Saab 9-5 models. Having a better understanding of how policy premiums are figured can assist in making decisions on which insurance to purchase.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|9-5 Aero XWD 4-Dr Sedan||$478||$774||$630||$38||$188||$2,108||$176|
|Get Your Own Custom Quote Go|
Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, homeowner, and safe-driver. Rate quotes do not factor in the specific area where the vehicle is garaged which can revise rates greatly.
The example below illustrates how choosing a deductible and can impact Saab 9-5 insurance costs for each different age group. The rate quotes are based on a single female driver, comprehensive and collision coverage, and no discounts are applied.
Impact of careless driving on Newark insurance rates
The diagram below demonstrates how traffic citations and accidents can drive up Saab 9-5 insurance prices for each different age group. The price estimates are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
Saab 9-5 insurance costs by gender and age in Newark
The example below illustrates the comparison of Saab 9-5 premium costs for male and female drivers. The premiums are based on no violations or claims, comprehensive and collision coverage, $100 deductibles, single marital status, and no other discounts are factored in.
Full coverage rates vs. liability-only in Newark
The example below shows the comparison of Saab 9-5 insurance costs with full physical damage coverage and with liability coverage only. The premiums assume no driving violations, no at-fault accidents, $1,000 deductibles, marital status is single, and no discounts are taken into consideration.
When to stop buying full coverage
There is no specific rule for eliminating full coverage, but there is a guideline you can consider. If the annual cost of coverage is 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let's assume your Saab 9-5 book value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $4,000 after you pay the deductible. If you are paying over $400 a year for full coverage, then you might want to think about dropping full coverage.
There are some conditions where dropping physical damage coverage is not recommended. If you haven't satisfied your loan, you have to carry full coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle in case of an accident, you should not buy liability only.
Car insurance does more than just repair your car
Despite the high cost of buying insurance for a Saab 9-5 in Newark, paying for car insurance may be required for several reasons.
- Just about all states have mandatory liability insurance requirements which means you are required to carry a specific level of liability in order to drive the car. 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 loan on your 9-5, it's most likely the lender will make it mandatory that you buy insurance to guarantee loan repayment. If you cancel or allow the policy to lapse, the bank will be required to insure your Saab at an extremely high rate and force you to pay for the expensive policy.
- Insurance protects both your Saab 9-5 and your personal assets. It will also pay for hospital and medical expenses for you, any passengers, and anyone injured in an accident. Liability insurance will also pay for a defense attorney if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will cover the repair costs.
The benefits of having car insurance are definitely more than the cost, specifically if you ever have a liability claim. But the average driver in New Jersey is currently overpaying as much as $820 a year so compare rate quotes at every renewal to make sure the price is not too high.
Five Tips to Get Cheap Newark Insurance Prices
The best way to find cheaper insurance is to take a look at the different types of things that help calculate insurance rates. When consumers understand what determines premiums, this helps enable you to make changes that may result in better insurance rates.
The items below are some of the factors used by insurance companies to determine prices.
- What's your car's IIHS safety rating? - Vehicles with good safety scores cost less to insure. The safest vehicles reduce the chance of injuries and fewer injuries means lower claim amounts passed on to you as lower rates. If your Saab earned at least an "acceptable" rating on the Insurance Institute for Highway Safety website you may pay a lower rate.
- Bundle and save - Some insurers will give lower prices to customers that buy multiple policies, otherwise known as a multi-policy discount. The discount can be as much as ten percent or more Even if you qualify for this discount already, drivers will still want to compare other company rates to ensure the best deal.
- Incidental coverages you don't use - Insurance companies have many extra bells and whistles that you can get tricked into buying but may not be useful. Insurance for things like replacement cost coverage, death and dismemberment, and extra equipment coverage may be costing you every month. You may think they are a good idea when talking to your agent, but now you might not need them so think about removing them and cutting costs.
Youthful drivers cost more - Older drivers have been proven to be more responsible, tend to cause fewer accidents, and are safer drivers. Teenage drivers are statistically proven to be easily distracted when driving with friends and because of this, their insurance rates are much higher.
The data below uses these variables: single driver, full coverage with $250 deductibles, and no discounts or violations.
- Insurance lapses raise insurance rates - Having a lapse in insurance coverage is a sure-fire way to trigger a rate increase. In addition to paying higher premiums, being ticketed for driving with no insurance may result in a revoked license or a big fine. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the New Jersey motor vehicle department.
Verify you're receiving every discount
Not too many consumers would say insurance is affordable, but there are discounts available that may help make it more affordable. Some trigger automatically when you quote, but once in a while a discount must be asked for prior to receiving the credit.
- Multiple Cars - Drivers who insure multiple cars on one policy can get a discount for every vehicle.
- Smart Student Discounts - Being a good student could provide a savings of up to 20% or more. The discount lasts up until you turn 25.
- Passenger Safety Discount - Cars that have air bags could see savings up to 30%.
- Fewer Miles Equal More Savings - Maintaining low annual mileage may allow you to get lower prices due to less chance of an accident.
- Student Discount for Driver Training - Cut your cost by having your teen driver take driver's ed class in school or through a local driver safety program.
- Multi-policy Discount - If you combine your auto and homeowners policies with one company you could save at least 10% off all policies.
- Save with a New Car - Insuring a new 9-5 can save you some money due to better safety requirements for new vehicles.
- Discount for Swiching Early - A few larger companies allow discounts for buying a policy prior to your current 9-5 insurance policy expiration. You could save around 10% when you buy Newark auto insurance online.
While discounts sound great, it's important to understand that some credits don't apply to the overall cost of the policy. Some only apply to the price of certain insurance coverages like collision or personal injury protection. Despite the appearance that all the discounts add up to a free policy, it just doesn't work that way.
The chart below compares Saab 9-5 car insurance rates with and without discounts applied to the policy rates. The data assumes a male driver, no claims or violations, New Jersey state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-car, multi-policy, safe-driver, marriage, and homeowner discounts applied.
Companies and their possible discounts include:
- Progressive offers discounts including good student, continuous coverage, online signing, multi-policy, homeowner, multi-vehicle, and online quote discount.
- AAA discounts include multi-policy, anti-theft, education and occupation, multi-car, good driver, pay-in-full, and good student.
- Farmers Insurance may have discounts that include electronic funds transfer, early shopping, youthful driver, distant student, and switch companies.
- GEICO includes discounts for anti-theft, air bags, anti-lock brakes, driver training, and good student.
- Esurance policyholders can earn discounts including multi-policy, anti-lock brakes, multi-car, emergency road assistance, Pac-12 alumni, defensive driver, and online quote.
- SAFECO offers discounts for teen safe driver, accident prevention training, multi-car, homeowner, and safe driver.
- State Farm offers premium reductions for Steer Clear safe driver discount, Drive Safe & Save, anti-theft, good driver, and safe vehicle.
Before you buy a policy, ask all companies you are considering how you can save money. Some discounts might not apply in Newark.
Exclusive versus independent car insurance agents
Some consumers would rather sit down and talk to an agent and that is just fine! An additional benefit of price shopping on the web is that you can obtain the lowest rates but also keep your business local. Putting coverage with local agents is important particularly in Newark.
After filling out this form (opens in new window), your insurance coverage information is sent to participating agents in Newark who will gladly provide quotes to get your business. There is no need to contact any agents because quoted prices will be sent to your email. You'll get the best rates and work with a local agent. If you need to compare prices from a particular provider, you just need to jump over to their website and fill out their quote form.
Not all car insurance agents are the same
If you would like to find a reliable insurance agent, you should know the different agency structures to choose from. Agents in Newark are categorized either independent agents or exclusive agents.
Independent Insurance Agents
These type of agents are not restricted to one company so they have the ability to put coverage with lots of companies depending on which coverage is best. If they quote lower rates, they simply switch companies in-house and you stay with the same agent. When comparing rate quotes, you definitely need to get rate quotes from independent agents for maximum quote selection.
Featured below is a list of independent insurance agents in Newark that may be able to provide free price quotes.
Exclusive Auto Insurance Agencies
Agents of this type can usually just insure with one company like AAA, Allstate, State Farm, or Farmers Insurance. They usually cannot provide prices from multiple companies so they really need to provide good service. Exclusive agencies are trained well on their products and sales techniques which helps them sell on service rather than price.
Listed below is a list of exclusive agencies in Newark who can help you get price quotes.
Deciding on an auto insurance agent needs to be determined by more than just the quoted price. These questions are important to ask:
- What is the agency's Better Business Bureau rating?
- Does the company have a local claim office in Newark?
- Does the quote include credit and driving reports?
- Do they specialize in personal lines coverage in Newark?
- Which companies can they place coverage with?
- Will you work with the agent or an assistant?
- Is the agency covered by Errors and Omissions coverage?
If you receive satisfactory answers to any questions you may have as well as an affordable premium quote, you've probably found an auto insurance agent that meets the requirements to properly insure your vehicles.
Don't give up on cheaper premiums
While you're price shopping online, it's very important that you do not reduce needed coverages to save money. There are too many instances where someone sacrificed collision coverage and discovered at claim time that it was a big mistake. The ultimate goal is to purchase a proper amount of coverage for the lowest cost while still protecting your assets.
You just read many ways to shop for Saab 9-5 insurance online. It's most important to understand that the more providers you compare, the more likely it is that you will get a better rate. You may even discover the best car insurance rates are with the least-expected company. Regional companies may only write in your state and offer lower premium rates than their larger competitors like Allstate or State Farm.
More detailed auto insurance information is located at these sites:
- Rollover Crash FAQ (iihs.org)
- How Much are Auto Insurance Quotes with Multiple Speeding Tickets in Newark? (FAQ)
- Help Your Teen Be a Better Driver (State Farm)
- Car Insurance FAQ (Trusted Choice)
- Where can I buy Insurance? (Insurance Information Institute)