Chevy Equinox Insurance Rates in Newark

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Chevy Equinox insurance cost
Chevy Equinox insurance cost image courtesy of QuoteInspector.com

Discount Chevy Equinox insurancePricey Chevrolet Equinox insurance in Newark can diminish your bank account and make it tough to pay other bills.

Smart shoppers know that auto insurance companies don't want you to look for a cheaper policy. Consumers who compare rates annually will most likely switch companies because they have a good chance of finding good coverage at a lower price. Surprisingly, a recent survey revealed that people who regularly compared rates saved as much as $865 annually as compared to drivers who never shopped around for lower prices.

If finding discount rates on Chevy Equinox insurance is your ultimate goal, then having an understanding of how to quote prices and compare insurance coverage can make it easier to find better rates.

Steps to finding lower priced Chevy Equinox insurance in Newark

The easiest way to find better pricing on Chevy Equinox insurance in Newark is to begin comparing prices regularly from companies who sell auto insurance in New Jersey. Drivers can shop around by completing these steps.

  1. Read about how your policy works and the modifications you can make to prevent expensive coverage. Many policy risk factors that result in higher rates like distracted driving and an imperfect credit score can be eliminated by paying attention to minor details. This article provides more information to prevent high rates and find overlooked discounts.
  2. Quote rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from one company like Progressive and State Farm, while agents who are independent can provide prices from multiple companies. Get quotes now
  3. Compare the new rate quotes to your current policy to determine if you can save on Equinox insurance. If you find a lower rate and make a switch, verify that coverage does not lapse between policies.
  4. Notify your current company of your decision to cancel the current policy. Submit a down payment and signed policy application to the new insurer. Once coverage is bound, store the certificate verifying proof of insurance somewhere easily accessible.

The most important part of shopping around is to try to compare similar coverage information on every quote request and and to get quotes from all possible companies. This guarantees a level playing field and a better comparison of the market.

Due to the fact that there are so many online and local companies to choose from, it can be challenging to pick the most cost effective insurer.

Don't overlook these Chevy Equinox insurance discounts

Buying insurance is not cheap, but you may be missing some discounts that can help lower your rates. Certain discounts will be triggered automatically at the time of quoting, but less common discounts must be asked about before being credited. If you check and find you aren't receiving every discount possible, you could be saving more on your insurance.

  • Early Payment Discounts - By paying your policy upfront as opposed to paying monthly you could save up to 5%.
  • E-sign - A few larger online companies will discount your bill up to fifty bucks for buying a policy and signing up digitally online.
  • Smart Student Discounts - Performing well in school may save you up to 25%. Earning this discount can benefit you until age 25.
  • Government Employee Discount - Having worked for a branch of the government may qualify for a discount when you quote Newark auto insurance but check with your company.
  • Multi-car Discount - Having multiple cars or trucks on one policy can reduce rates for all insured vehicles.
  • Seat Belt Usage - Drivers who require all occupants to buckle their seat belts could save 15% on medical payment and PIP coverage.
  • Theft Prevention Discount - Cars and trucks that have factory anti-theft systems are stolen less frequently and that can save you a little bit as well.
  • Mature Driver Discount - Drivers that qualify as senior citizens may qualify for reduced rates.
  • Discounts for New Vehicles - Buying insurance coverage on a new vehicle can be considerably cheaper since newer vehicles have better safety ratings.
  • Onboard Data Collection - Drivers who elect to allow driving data submission to track their driving habits by using a small device installed in their vehicle such as Progressive's Snapshot could possibly reduce rates if they are good drivers.

A little disclaimer on discounts, most discounts do not apply to the whole policy. The majority will only reduce specific coverage prices like comp or med pay. So despite the fact that it appears you can get free auto insurance, insurance companies wouldn't stay in business.

The chart below shows the difference between Chevy Equinox car insurance costs with and without discounts applied to the policy rates. The premiums assume a female driver, no violations or accidents, 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 multi-car, homeowner, safe-driver, multi-policy, marriage, and claim-free discounts applied.

Some of the insurance companies who might offer these discounts include:

If you are trying to find affordable Chevrolet Equinox insurance quotes, ask all the companies how many discounts you can get. Depending on the company, some discounts might not be offered on policies in Newark. If you would like to see a list of insurers with discount rates in Newark, click this link.

The companies in the list below provide free quotes in New Jersey. To find cheap car insurance in NJ, we recommend you visit as many as you can in order to get a fair rate comparison.

Data for Chevy Equinox insurance

The price information shown below highlights detailed analysis of rate quotes for Chevy Equinox models. Having a good grasp of how policy premiums are established can help you make smart choices when purchasing an insurance policy.

Chevrolet Equinox Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Equinox LS 2WD $356 $708 $624 $36 $188 $1,912 $159
Equinox LT 2WD $356 $708 $624 $36 $188 $1,912 $159
Equinox LS AWD $356 $708 $624 $36 $188 $1,912 $159
Equinox LT AWD $356 $708 $624 $36 $188 $1,912 $159
Equinox LTZ 2WD $402 $834 $624 $36 $188 $2,084 $174
Equinox LTZ AWD $402 $834 $624 $36 $188 $2,084 $174
Equinox LTZ AWD $402 $834 $624 $36 $188 $2,084 $174
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Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Rate information does not factor in specific location information which can alter price quotes noticeably.

Rate comparison for different deductibles

One common question asked by Newark drivers is where should you set your physical damage deductibles. The rates below may help you to understand how much more rates are between high and low physical damage coverage deductibles. The first table uses a $100 deductible for comp and collision and the second price grid uses a $500 deductible.

Chevrolet Equinox insurance with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Equinox LS 2WD $414 $746 $480 $28 $144 $1,837 $153
Equinox LT 2WD $414 $746 $480 $28 $144 $1,837 $153
Equinox LS AWD $414 $746 $480 $28 $144 $1,837 $153
Equinox LT AWD $414 $746 $480 $28 $144 $1,837 $153
Equinox LTZ 2WD $466 $880 $480 $28 $144 $2,023 $169
Equinox LTZ AWD $466 $880 $480 $28 $144 $2,023 $169
Equinox LTZ AWD $466 $880 $480 $28 $144 $2,023 $169
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Chevrolet Equinox insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Equinox LS 2WD $302 $504 $480 $28 $144 $1,458 $122
Equinox LT 2WD $302 $504 $480 $28 $144 $1,458 $122
Equinox LS AWD $302 $504 $480 $28 $144 $1,458 $122
Equinox LT AWD $302 $504 $480 $28 $144 $1,458 $122
Equinox LTZ 2WD $340 $594 $480 $28 $144 $1,586 $132
Equinox LTZ AWD $340 $594 $480 $28 $144 $1,586 $132
Equinox LTZ AWD $340 $594 $480 $28 $144 $1,586 $132
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Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Estimates do not factor in vehicle location which can revise auto insurance rates considerably.

Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you approximately $34 more each month or $408 each year than choosing the higher $500 deductible. Since you would have to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you average at least 12 months between claim filings, you would come out ahead if you elect the higher deductible. Here's how you can make your own decision.

Average monthly premium for $100 deductibles: $160
Average monthly premium for $500 deductibles (subtract): - $126
Monthly savings from raising deductible: $34
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $34
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

One important caveat is that higher deductibles means you will have to cover more of the damage yourself if you have a claim. That will necessitate access to more funds in the event you need to pay more for the deductible.

The chart below demonstrates how deductibles and can influence Chevy Equinox premium costs for different categories of driver ages. The rate quotes are based on a single male driver, full physical damage coverage, and no discounts are factored in.

Insurance rates are higher with tickets and accidents

The example below demonstrates how traffic citations and at-fault claims can raise Chevy Equinox car insurance rates for different age groups. The prices are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are taken into consideration.

Full coverage or liability only

The information below shows the comparison of Chevy Equinox premium costs with liability coverage only compared to full coverage. Data assumes a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are taken into consideration.

Deciding between full coverage and liability only

There is no exact rule to delete physical damage coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than around 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

For example, let's assume your Chevy Equinox settlement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $2,000 after the policy deductible has been paid. If it's costing in excess of $200 annually for full coverage, then it's probably a good time to buy liability coverage only.

There are a few cases where removing full coverage is not recommended. If you still owe money on your vehicle, you have to carry full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not eliminate full coverage.

Informed Consumers Can Reduce Their Insurance Costs

Part of the auto insurance buying process is learning the rating factors that aid in calculating your auto insurance rates. When you understand what impacts premium levels, this enables informed choices that may result in lower premium levels. Many factors are considered when quoting car insurance. Most are fairly basic such as your driving history, but some are less obvious such as your credit history or your financial responsibility.

The list below includes some of the factors used by your company to calculate rates.

  • Safeguard your assets with liability insurance - Your auto insurance policy's liability coverage will provide protection in the event that you are determined to be liable for physical damage or personal injury to other. Your liability coverage provides for a legal defense to attempt to prove you were not liable. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so insureds should have plenty of protection for their assets.
  • Which gender costs less? - Statistics have proven that men are more aggressive behind the wheel. That doesn't necessarily mean that women are BETTER drivers than men. Both genders are in accidents in similar numbers, but the males get into accidents with more damage. Not only are claims higher, but men get more serious tickets like DWI (DUI) or reckless driving. Young men ages 16 to 20 tend to get in the most accidents so they pay the highest premiums.

    The illustration below shows the comparison of Chevy Equinox car insurance rates for male and female drivers. The price estimates are based on no violations or claims, full physical damage coverage, $100 deductibles, drivers are not married, and no policy discounts are applied.

  • Rates can change based on your address - Being located in less populated areas may provide you with better prices when talking about auto insurance. Less people living in that area means less chance of accidents and also fewer theft and vandalism claims. People in densely populated areas have much more traffic and longer commute times. Longer commute distances statistically corresponds to a higher accident and claim rate.
  • Impacts performance impacts auto insurance rates - The performance level of the car you need insurance for makes a significant difference in determining your rates. The lowest rates are usually found on lower performance four cylinder passenger cars, but the final cost of insurance is determined by many other factors.

    The next chart uses these variables: single female driver age 50, full coverage with $100 deductibles, and no discounts or violations. The chart compares Chevrolet Equinox insurance rates compared to other models of vehicles that have a range of performance risks.

  • Annual mileage impacts premiums - The more miles you rack up on your Chevy every year the higher the price you pay to insure it. The majority of insurers charge rates based on their usage. Cars and trucks that sit idle most of the time receive lower rates than those that get driven frequently. Ask your agent if your auto insurance declarations sheet reflects annual mileage. Having the wrong rating on your Equinox may be costing you higher rates.
  • With age comes lower rates - Teen drivers in New Jersey have been known to be inattentive when driving so they pay higher auto insurance rates. Parents adding a teenage driver onto your auto insurance can really hurt. More mature drivers are viewed as being more responsible, file fewer claims, and get fewer tickets.

    The following chart is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.

  • Loss probability for a Chevy Equinox - Insurers use claims history as a tool for profitable underwriting. Vehicles that historically have higher losses will have a higher premium rate. The table below outlines the historical loss data for Chevy Equinox vehicles.

    For each type of coverage, the statistical loss for all vehicles averaged together is a value of 100. Numbers shown that are under 100 are indicative of better than average losses, while numbers above 100 indicate more frequent claims or an increased chance of a larger loss.

    Car Insurance Loss Data for Chevrolet Equinox Models
    Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Chevrolet Equinox 4dr 2WD 82 86 74 101 104 93
    Chevrolet Equinox 4dr 4WD 84 88 85 89 93 81
    BETTER
    AVERAGE
    WORSE

    Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Compare prices but still have a local Newark insurance agency

Many drivers would rather go talk to an agent and often times that is recommended Professional agents can help determine the best coverages and help file insurance claims. One of the great benefits of comparing rate quotes online is the fact that drivers can get cheap rate quotes and still buy from a local agent.

Newark insurance agentsTo make it easy to find an agent, after completing this quick form, the quote information is transmitted to agents in your area who want to provide quotes for your coverage. You won't need to do any legwork since rate quotes are delivered immediately to you. In the event you want to get a comparison quote from a particular provider, don't hesitate to jump over to their website and submit a quote form there.

Choosing an insurer should depend on more than just the price. Here are some questions you might want to ask.

  • Do you need full coverage on every vehicle?
  • Do they receive special compensation for putting your coverage with one company over another?
  • Do they carry Errors and Omissions coverage?
  • When do they do a full risk review?
  • Are claims handled at the agent's location?
  • How long has their agency been open in Newark?
  • Can they give you a list of client referrals?
  • If you have an accident, will your rates go up?

If you feel you receive good feedback to any questions you may have and an affordable coverage quote, it's possible that you found an insurance company that meets the requirements to insure your vehicles.

Why you need car insurance

Despite the high cost, insurance is mandatory in New Jersey but it also protects more than you think.

  • Most states have compulsory liability insurance requirements which means state laws require specific minimum amounts of liability insurance coverage in order to get the vehicle licensed. 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 Chevy Equinox, it's most likely the lender will require that you have insurance to guarantee their interest in the vehicle. If the policy lapses, the bank may buy a policy for your Chevy at a much higher rate and require you to fork over a much higher amount than you were paying before.
  • Car insurance preserves your car and your assets. It will also reimburse you for hospital and medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance also pays for attorney fees and expenses in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive coverages will cover the repair costs.

The benefits of buying enough insurance are definitely more than the cost, particularly when you have a large claim. The average driver in America is wasting up to $830 a year so we recommend shopping around each time the policy renews to be sure current rates are still competitive.

Persistent drivers can save

Some companies may not provide online rate quotes and many times these regional carriers only sell through independent agents. Affordable Chevy Equinox insurance in Newark can be sourced both online as well as from insurance agents, and you should be comparing both in order to have the best chance of saving money.

In this article, we presented some good ideas how to compare Chevy Equinox insurance premium rates in Newark. The key thing to remember is the more providers you compare, the better chance you'll have of finding affordable Newark auto insurance quotes. Consumers could even find that the best price on auto insurance is with a smaller regional carrier. They can often insure niche markets at a lower cost compared to the large companies like GEICO and State Farm.

How to find affordable Chevy Equinox insurance in Newark

If saving money is your primary concern, then the best way to save money on car insurance rates is to begin comparing prices regularly from providers that sell auto insurance in Newark. You can shop around by following these steps.

  • Step 1: Try to understand what coverages are included in your policy and the changes you can make to prevent expensive coverage. Many policy risk factors that result in higher prices like speeding tickets, accidents and an unfavorable credit rating can be controlled by paying attention to minor details.
  • Step 2: Compare rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like GEICO and Allstate, while independent agents can provide prices from many different companies.
  • Step 3: Compare the quotes to the price on your current policy and determine if there is any savings. If you can save some money and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
  • Step 4: Provide proper notification to your current company of your intent to cancel your current policy and submit the signed application along with the required initial payment for your new coverage. Don't forget to place the new proof of insurance certificate with your vehicle's registration.

An important part of this process is to try to compare identical coverage information on every price quote and and to get price quotes from every insurance company. This guarantees an apples-to-apples comparison and a better comparison of the market.

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