Truthfully, the best way to get low-cost car insurance rates in Newark is to compare quotes once a year from companies in New Jersey. Prices can be compared by completing these steps.
- Spend a few minutes and learn about how insurance companies determine prices and the things you can change to lower rates. Many rating criteria that cause rate increases such as at-fault accidents, speeding tickets, and a low credit rating can be amended by making minor changes in your lifestyle. Continue reading for more information to help reduce prices and get additional discounts that may be available.
- Get rate quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only provide price estimates from one company like GEICO or State Farm, while independent agents can provide prices from multiple insurance companies.
- Compare the new rate quotes to your existing policy and see if you can save money. If you can save money and decide to switch, make sure coverage does not lapse between policies.
- Tell your current company to cancel your current auto insurance policy. Submit payment and a signed application to the newly selected company. Immediately upon receiving it, keep your new certificate verifying proof of insurance in your vehicle.
A good piece of advice is that you'll want to compare similar coverage information on each quote and and to get price quotes from as many different companies as possible. Doing this enables a level playing field and the best price selection.
It's well known that insurance companies don't want you to look for a cheaper policy. Insureds who shop around for the cheapest rate are inclined to switch companies because there is a good probability of finding coverage at a more affordable price. A recent survey found that people who shopped around annually saved about $3,450 over four years as compared to drivers who never shopped around.
If finding budget-friendly rates on GMC Yukon insurance is your ultimate objective, then having some insight into how to quote prices and compare insurance coverage can save time and money.
How to compare GMC Yukon insurance quotes in Newark
Getting a cheaper price on GMC Yukon insurance can be relatively painless. Just invest a little time comparing price quotes from online providers.
The providers in the list below offer price comparisons in Newark, NJ. If your goal is to find cheap car insurance in New Jersey, it's a good idea that you visit several of them in order to get a fair rate comparison.
Companies offer lots of discounts on GMC Yukon insurance in Newark
Some insurance providers don't always list all discounts in a way that's easy to find, so we researched a few of the more common in addition to some of the lesser obvious car insurance savings.
- No Claim Discounts - Newark drivers who stay claim-free are rewarded with significantly better rates on Newark car insurance quote in comparison to insureds who have frequent claims or accidents.
- First Accident Forgiveness - Not really a discount, but companies like Progressive and Allstate will turn a blind eye to one accident before hitting you with a surcharge as long as you don't have any claims for a particular time prior to the accident.
- Sign Online - A few companies may give you up to $50 for signing up on their website.
- Newark Homeowners Discount - Owning a home in Newark can earn you a little savings because owning a home is proof that your finances are in order.
- Theft Deterrent Discount - Anti-theft and alarm system equipped vehicles are stolen less frequently and earn discounts up to 10% off your Newark car insurance quote.
- Service Members Pay Less - Being on active deployment in the military could be rewarded with lower car insurance rates.
- Smart Student Discounts - Maintaining excellent grades can save 20 to 25%. The good student discount can last up to age 25.
As a disclaimer on discounts, most of the big mark downs will not be given to the entire cost. Most cut the price of certain insurance coverages like comp or med pay. Just because it seems like it's possible to get free car insurance, companies wouldn't make money that way. But any discount should help lower your overall bill.
The illustration below shows the difference between GMC Yukon auto insurance rates with and without policy discounts. The premiums assume a female driver, no claims, a clean driving record, New Jersey state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, multi-policy, marriage, safe-driver, and multi-car discounts applied.
Companies and a selection of discounts can be read below.
- Travelers discounts include driver training, multi-policy, home ownership, multi-car, and payment discounts.
- 21st Century may include discounts for defensive driver, driver training, early bird, theft prevention, student driver, and homeowners.
- State Farm may offer discounts for safe vehicle, good student, Drive Safe & Save, Steer Clear safe driver discount, and driver's education.
- GEICO has savings for air bags, seat belt use, federal employee, anti-lock brakes, and anti-theft.
- SAFECO may have discounts that include drive less, multi-car, homeowner, teen safe driver, anti-lock brakes, and teen safety rewards.
- AAA policyholders can earn discounts including good student, multi-policy, anti-theft, pay-in-full, good driver, and education and occupation.
If you need lower rates, check with every insurance company which credits you are entitled to. Some of the earlier mentioned discounts may not be offered in Newark. To see car insurance companies that offer multiple discounts in New Jersey, follow this link.
Car insurance statistics for a GMC Yukon
The data table below highlights estimates of insurance prices for GMC Yukon models. Having a better idea how rate quotes are determined can assist in making decisions on the best policy to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Yukon SLE 2WD||$200||$326||$452||$26||$136||$1,140||$95|
|Yukon SLE 4WD||$200||$326||$452||$26||$136||$1,140||$95|
|Yukon SLT 2WD||$200||$326||$452||$26||$136||$1,140||$95|
|Yukon SLT 4WD||$222||$326||$452||$26||$136||$1,162||$97|
|Yukon Denali 2WD||$222||$384||$452||$26||$136||$1,220||$102|
|Yukon Denali 4WD||$222||$384||$452||$26||$136||$1,220||$102|
|Yukon Hybrid 2WD||$222||$444||$510||$30||$152||$1,358||$113|
|Yukon Hybrid 4WD||$222||$444||$510||$30||$152||$1,358||$113|
|Yukon Hybrid Denali 2WD||$244||$502||$510||$30||$152||$1,438||$120|
|Yukon Hybrid Denali 4WD||$244||$502||$510||$30||$152||$1,438||$120|
|Get Your Own Custom Quote Go|
Premium data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Rate information does not factor in zip code location which can affect price quotes significantly.
Should you raise deductibles?
When shopping for car insurance, a common question is which deductibles should you choose. The rates shown below may help to illustrate the costs and benefits between low and high comp and collision deductibles. The first price estimate table uses a $100 deductible for comp and collision and the second rate table uses a $1,000 deductible.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Yukon SLE 2WD||$466||$746||$480||$28||$144||$1,889||$157|
|Yukon SLE 4WD||$466||$746||$480||$28||$144||$1,889||$157|
|Yukon SLT 2WD||$466||$746||$480||$28||$144||$1,889||$157|
|Yukon SLT 4WD||$520||$746||$480||$28||$144||$1,943||$162|
|Yukon Denali 2WD||$520||$880||$480||$28||$144||$2,077||$173|
|Yukon Denali 4WD||$520||$880||$480||$28||$144||$2,077||$173|
|Yukon Hybrid 2WD||$520||$1014||$544||$32||$162||$2,297||$191|
|Yukon Hybrid 4WD||$520||$1014||$544||$32||$162||$2,297||$191|
|Yukon Hybrid Denali 2WD||$574||$1146||$544||$32||$162||$2,483||$207|
|Yukon Hybrid Denali 4WD||$574||$1146||$544||$32||$162||$2,483||$207|
|Get Your Own Custom Quote Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Yukon SLE 2WD||$258||$394||$480||$28||$144||$1,304||$109|
|Yukon SLE 4WD||$258||$394||$480||$28||$144||$1,304||$109|
|Yukon SLT 2WD||$258||$394||$480||$28||$144||$1,304||$109|
|Yukon SLT 4WD||$288||$394||$480||$28||$144||$1,334||$111|
|Yukon Denali 2WD||$288||$464||$480||$28||$144||$1,404||$117|
|Yukon Denali 4WD||$288||$464||$480||$28||$144||$1,404||$117|
|Yukon Hybrid 2WD||$288||$534||$544||$32||$162||$1,560||$130|
|Yukon Hybrid 4WD||$288||$534||$544||$32||$162||$1,560||$130|
|Yukon Hybrid Denali 2WD||$318||$604||$544||$32||$162||$1,660||$138|
|Yukon Hybrid Denali 4WD||$318||$604||$544||$32||$162||$1,660||$138|
|Get Your Own Custom Quote Go|
Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Estimates do not factor in specific zip code location which can change prices greatly.
Based on the above data, using a $100 deductible will cost you roughly $55 more each month or $660 for a full year averaged for all Yukon models than quoting the higher $1,000 deductible. Since you would pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you go at a minimum 16 months between claim filings, you would probably come out ahead if you decide on a higher deductible.
Comparison of full coverage and liability-only policies
The chart below shows the comparison of GMC Yukon car insurance costs with full coverage and liability only. The premium estimates are based on a clean driving record, no at-fault accidents, $250 deductibles, single status, and no additional discounts are factored in.
Are you wasting money on full coverage?
There isn't a written rule of when to drop full coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let's pretend your GMC Yukon 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 the deductible is paid. If it's costing in excess of $400 annually for full coverage, then you may want to consider only buying liability coverage.
There are a few situations where buying only liability insurance is not advised. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle if your current one is totaled, you should not drop full coverage.
Local Newark car insurance agents and car insurance
Some people just prefer to go talk to an agent and we recommend doing that Professional agents can make sure you are properly covered and help file insurance claims. The best thing about comparing car insurance online is you can get better rates but still work with a licensed agent. And buying from local agencies is definitely important in Newark.
To help locate an agent, after submitting this form (opens in new window), the coverage information is submitted to agents in your area who will give you quotes for your car insurance coverage. It simplifies rate comparisons since you won't have to even leave your home because quoted prices will be sent to you. If for some reason you want to get a rate quote from a specific insurance company, feel free to visit that company's website and give them your coverage information.
Choose an insurance agent wisely
When finding a local agent, there are two types of insurance agents and how they can write your policy. Insurance agencies in Newark are classified as either exclusive or independent (non-exclusive). Either one can sell and service car insurance coverage, but it's important to know why they differ because it can influence buying decisions.
Independent Car Insurance Agencies
Independent agents are appointed with more than one company so as a result can place your coverage with an assortment of companies and possibly get better coverage at lower prices. If prices rise, they simply move your policy to a different company and you don't have to find a new agent.
When comparing car insurance rates, you should always get insurance quotes from at a minimum one independent agency to have the best price comparison. Many write coverage with different regional companies which may have better rates.
Below is a short list of independent agents in Newark who can help you get cheap rate quotes.
- Arabo Insurance Group Inc
675 Bergen St - Newark, NJ 07108 - (973) 391-9595 - View Map
- Goker and Associates Insurance Agency
121 Elizabeth Ave #101 - Newark, NJ 07108 - (908) 344-7577 - View Map
- Dependable Insurance Agency Inc
1030 S Orange Ave - Newark, NJ 07106 - (973) 372-0002 - View Map
Agents of this type write business for a single company like American Family, State Farm, and AAA. These agents are not able to place coverage with different providers so they really need to provide good service. Exclusive agents receive a lot of sales training on their company's products which helps overcome the inability to quote other rates. Some insured continue to buy insurance from these agents mostly because of the brand rather than having the cheapest rates.
Shown below is a short list of exclusive agencies in Newark who can help you get price quotes.
- Farmers Insurance: Anthony Pugliese
217 Chestnut St - Newark, NJ 07105 - (973) 536-2060 - View Map
- State Farm: Greg Daniels
681 1/2 Mt Prospect Ave - Newark, NJ 07104 - (973) 484-5772 - View Map
- Farmers Insurance - Anthony Pugliese
41 Wilson Ave - Newark, NJ 07105 - (973) 732-2105 - View Map
Picking an car insurance agent shouldn't rely on just a cheap price. The questions below may impact your decision as well.
- Which insurance companies are they affiliated with?
- Does the quote include credit and driving reports?
- Is there a 24/7 contact number?
- How often do they review coverages?
- Is working in the agency their full-time job?
- Can glass claims be handled at your home?
If you feel you receive positive feedback to any questions you may have and a good coverage price, it's a good possibility that you have found an auto insurance agent that can be relied on to properly insure your vehicles.
Educated Choices Result in Lower Insurance Prices
When buying insurance it's important to understand some of the things that help determine the level of your policy premiums. If you have some idea of what influences your rates, this enables you to make decisions that can earn you lower rates.
- Too many claims and you'll pay more - Car insurance companies in New Jersey generally give better rates to drivers that do not abuse their auto insurance. If you file claims often, you can pretty much guarantee much higher rates or policy non-renewal. Your insurance policy is designed for more catastrophic claims.
- Better insurance rates on safer vehicles - Cars with high safety ratings tend to have better insurance rates. Vehicles engineered for safety help reduce the chance of injuries in an accident and lower injury rates means less claims paid and lower rates for you.
- Only buy extra coverages you need - Insurance policies have a lot of optional add-on coverages that you can buy if you don't pay attention. Coverage for things like rental car coverage, better glass coverage, and motor club memberships are probably not needed. You may think they are a good idea when discussing your needs, but now you might not need them so remove them and pocket the money.
- Infrequent drivers can save - Driving a lot of miles in a year's time the more you'll pay to insure your vehicle. A lot of companies charge rates based on their usage. Cars and trucks not used for work or commuting receive lower rates compared to those used for work or business. It's a smart idea to ensure your vehicle rating is showing the correct usage. Incorrect rating for your Yukon may be wasting your money.
How's your driving record? - Even one speeding ticket can boost insurance rates by as much as thirty percent. Drivers with clean records get better prices than their less careful counterparts. Drivers who have flagrant tickets such as reckless driving or DUI are required to complete a SR-22 with their state DMV in order to legally drive a vehicle.
The diagram below illustrates how traffic citations and at-fault accidents can affect GMC Yukon annual premium costs for each age group. The data assumes a single male driver, full coverage, $250 deductibles, and no discounts are taken into consideration.
- More than one policy can earn a discount - Most insurers apply better rates for people who carry more than one policy in the form of a multi-policy discount. Discounts can add up to ten or even up to twenty percent in some cases. Even if you qualify for this discount already, it's always a smart idea to get quotes from other companies to make sure you are getting the best deal.
Men drivers tend to cost more - The statistics show females are less aggressive when driving. This data doesn't prove that men are WORSE drivers than women. Females and males cause accidents at about the same rate, but the males tend to have higher claims. Men also tend to get more serious tickets such as DWI and reckless driving.
The diagram below visualizes the comparison of GMC Yukon insurance prices for male and female drivers. The premiums assume no tickets, no at-fault accidents, comp and collision included, $1,000 deductibles, single marital status, and no policy discounts are applied.
- Marriage equates to better prices - Having a spouse may save some money on insurance. It may mean you are more stable financially and insurance companies reward insureds because drivers who are married are more cautious.
GMC Yukon historical loss data - Insurance companies use statistical claims data as a tool for profitable underwriting. Vehicles that the data shows to have higher frequency or amount of claims will have higher rates. The table below outlines the collected loss data for GMC Yukon vehicles.
For each coverage category, the claim probability for all vehicles, regardless of manufacturer or model, is a value of 100. Values under 100 imply a favorable loss record, while numbers above 100 point to more frequent losses or an increased chance of larger losses than average.
Insurance Loss Ratings for GMC Yukon Vehicles Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury GMC Yukon 4dr 2WD 86 96 112 66 GMC Yukon 4dr 4WD 86 89 117 63 61 69 GMC Yukon XL 1500 4dr 2WD 111 99 137 GMC Yukon XL 1500 4dr 4WD 104 126 128 59BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Three reasons to insure your GMC vehicle
Even though it can be expensive, insurance is required by state law in New Jersey and it also provides benefits you may not be aware of.
First, almost all states have compulsory liability insurance requirements which means state laws require a minimum amount of liability 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.
Second, if you have a lien on your Yukon, it's guaranteed your bank will have a requirement that you buy full coverage to guarantee payment of the loan. If you let the policy lapse, the bank or lender will purchase a policy for your GMC for a much higher rate and require you to pay a much higher amount than you were paying before.
Third, insurance preserves both your assets and your car. It will also reimburse you for many types of medical costs that are the result of an accident. One policy coverage, liability insurance, will also pay for a defense attorney if you cause an accident and are sued. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.
The benefits of buying enough insurance more than offset the price you pay, especially when you need to use it. On average, a vehicle owner in Newark is wasting up to $855 a year so compare rates each time the policy renews to ensure rates are competitive.
Which car insurance company is best in Newark?
Insuring your vehicle with a highly-rated insurance provider can be challenging considering how many companies sell insurance in Newark. The rank data in the lists below can help you choose which car insurance providers to look at when comparing rate quotes.
Top 10 Newark Car Insurance Companies Ranked by Customer Satisfaction
- The Hartford - 93%
- Progressive - 90%
- 21st Century - 89%
- USAA - 87%
- Mercury Insurance - 87%
- State Farm - 87%
- Travelers - 87%
- Safeco Insurance - 86%
- AAA Insurance - 86%
- American Family - 85%
Top 10 Newark Car Insurance Companies Ranked by Value
- The Hartford
- Mercury Insurance
- Farmers Insurance
- Safeco Insurance
- AAA Insurance
- 21st Century
- State Farm
- American Family
You can lower your insurance rates
When searching for cheaper Newark car insurance quotes, make sure you don't sacrifice coverage to reduce premiums. In many instances, an accident victim reduced collision coverage only to regret at claim time that they should have had better coverage. Your goal should be to buy the best coverage you can find for the lowest price while still protecting your assets.
More affordable insurance in Newark can be bought both online and also from your neighborhood Newark agents, and you need to comparison shop both in order to have the best chance of saving money. Some companies may not offer price quotes online and these regional insurance providers provide coverage only through independent agencies.
Insureds switch companies for a number of reasons such as policy cancellation, delays in responding to claim requests, policy non-renewal and delays in paying claims. It doesn't matter what your reason, finding the right insurance provider is pretty easy and you might even save some money in the process.
Additional detailed information is available by following these links:
- Eight Auto Insurance Myths (Insurance Information Institute)
- Who Has Cheap Auto Insurance Rates for Veterans in Newark? (FAQ)
- Who Has the Cheapest Newark Car Insurance Rates for a Honda Civic? (FAQ)
- Should I Buy a New or Used Car? (Allstate)
- Prom Night Tips for Teen Drivers (State Farm)
- Collision Insurance Coverage (Nationwide)
- Insurance losses by make and model (Insurance Institute for Highway Safety)