Unimaginable but true, the vast majority of consumers renewed their policy with the same company for four years or more, and nearly the majority have never compared quotes from other companies. Most drivers in Newark could save roughly 40% every year just by comparing rates, but they just assume it takes a lot of time to do a rate comparison.
The preferred way to get more affordable Dodge Journey insurance in Newark is to compare prices regularly from different companies who sell auto insurance in New Jersey.
- First, learn about how insurance works and the things you can change to prevent expensive coverage. Many rating factors that result in higher rates such as your driving record and your credit history can be amended by being financially responsible and driving safely.
- Second, compare prices from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give rate quotes from one company like Progressive or State Farm, while independent agencies can give you price quotes for a wide range of insurance providers.
- Third, compare the price quotes to your current policy to see if switching to a new carrier will save money. If you find a lower rate and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Fourth, notify your current company to cancel your current policy and submit any necessary down payment along with the completed application for the new coverage. As soon as coverage is bound, put the proof of insurance paperwork along with your vehicle registration.
An important part of this process is to compare identical coverages on each quote and and to get rate quotes from every insurance company. This ensures a fair rate comparison and a good representation of prices.
If you’re already insured, you should be able to reduce the price you pay using these methods. Finding the cheapest coverage in Newark is much easier if you know where to start. Although New Jersey vehicle owners should learn the methods companies use to price online insurance because it can help you find the best coverage.
Smart Buyers Save More
Consumers need to have an understanding of a few of the rating criteria that are used to determine the price you pay for auto insurance. When you know what positively or negatively determines premiums, this empowers consumers to make smart changes that may reward you with much lower annual insurance costs.
Bundling policies can get discounts – Lots of auto insurance companies give lower prices to clients who carry more than one policy such as combining an auto and homeowners policy. Discounts can be ten or even up to twenty percent in some cases. Even with this discount applied, you still need to check prices from other companies to help guarantee you have the best rates. It’s possible to still find lower rates even if you have your coverage with different companies
GPS tracking and theft deterrents lower rates – Choosing a vehicle that has a built-in theft deterrent system can earn a premium discount. Anti-theft features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping auto theft.
Discounts for married drivers – Having a spouse can actually save you money on your policy. Marriage usually means you are more mature and responsible and statistics prove married drivers tend to have fewer serious accidents.
Decrease auto insurance rates by maintaining coverage – Driving any period of time without insurance can get your license suspended and you will pay a penalty because you let your insurance lapse. In addition to paying higher rates, not being able to provide proof of insurance will get you fines and jail time. You may then be required to file a SR-22 with the New Jersey department of motor vehicles.
Credit history impact auto insurance rates – An insured’s credit rating can be an important factor in determining premium rates. Therefore, if your credit score can use some improvement, you could be paying less to insure your Dodge Journey by spending a little time repairing your credit. People that have excellent credit scores tend to be more responsible than drivers who have bad credit.
Type of vehicle determines base prices – The make and model of the car, truck or SUV you are insuring makes a huge difference in your car insurance bill. The best insurance prices tend to be for the lowest performance passenger vehicles, but the final cost of insurance is determined by many other factors.
The data below uses these variables: single female driver age 30, full coverage with $1000 deductibles, and no discounts or violations. It illustrates Dodge Journey insurance rates compared to other models of vehicles that have a range of risk factors.
Cheap prices for being claim-free – If you tend to file frequent claims, don’t be surprised to see much higher rates or policy non-renewal. Insurance companies in New Jersey give discounts to policyholders who do not rely on their insurance for small claims. Auto insurance is intended for claims that you cannot pay yourself.
Dodge Journey claim data – Insurance companies factor in historical loss data to help determine the rate you pay. Models that historically have higher losses will have a higher premium rate. The table below illustrates the insurance loss data for Dodge Journey vehicles.
For each policy coverage type, the statistical loss for all vehicles, regardless of make or model, is represented as 100. Values below 100 imply a favorable loss record, while numbers above 100 indicate more frequent losses or statistically larger losses.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Dodge Journey 4dr 2WD||80||92||80||148||163||131|
|Dodge Journey 4dr 4WD||96||116||71||96|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Insurance coverage analysis
The coverage information shown next outlines a range of coverage prices for Dodge Journey models. Having a good grasp of how insurance prices are determined is important for you to make smart choices when purchasing an insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Journey SE 2WD||$460||$756||$648||$38||$194||$2,096||$175|
|Journey SXT 2WD||$460||$918||$648||$38||$194||$2,258||$188|
|Journey R/T 2WD||$518||$918||$648||$38||$194||$2,316||$193|
|Journey SXT Crew 2WD||$518||$918||$648||$38||$194||$2,316||$193|
|Journey SXT AWD||$518||$918||$648||$38||$194||$2,316||$193|
|Journey R/T AWD||$518||$1082||$648||$38||$194||$2,480||$207|
|Journey SXT Crew AWD||$518||$1082||$648||$38||$194||$2,480||$207|
|Get Your Own Custom Quote Go|
Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Price information does not factor in specific location which can raise or lower coverage prices significantly.
Irresponsible driving raises your rates
The diagram below shows how speeding tickets and accident claims can raise Dodge Journey auto insurance costs for different categories of driver ages. The premium estimates are based on a married female driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.
Price comparison of only insuring for liability
The illustration below visualizes the comparison of Dodge Journey insurance rates with full coverage compared to only the New Jersey minimum liability coverage. The rates are based on no violations or accidents, $500 deductibles, drivers are single, and no discounts are taken into consideration.
When to drop comprehensive and collision
There isn’t a steadfast formula that is best for determining when to drop physical damage insurance, but there is a general guideline. If the yearly cost of comp and collision coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
For example, let’s say your Dodge Journey replacement cost is $4,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after the policy deductible has been paid. If premiums are more than $300 annually for physical damage coverage, then it’s probably a good time to buy liability coverage only.
There are some scenarios where dropping physical damage coverage is not advised. If you still have a lienholder on your title, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not consider dropping full coverage.
Newark auto insurance discounts
Some providers do not list every discount very well, so we break down a few of the more common and also the more inconspicuous discounts that may be available. If you’re not getting every credit possible, you’re paying more than you need to.
- Telematics Discount – Insureds that choose to allow their insurance company to study driving manner by using a small device installed in their vehicle such as Snapshot from Progressive or Drivewise from Allstate could save a few bucks as long as they are good drivers.
- Early Payment Discounts – By paying your policy upfront rather than paying in monthly installments you can avoid monthly service charges.
- Discount for Good Grades – A discount for being a good student can save 20 to 25%. Most companies allow this discount well after school through age 25.
- Claim-Free Discount – Drivers with accident-free driving histories are rewarded with significantly better rates on Newark auto insurance quote as opposed to policyholders that have many claims.
- Safety Restraint Discount – Drivers who require all occupants to use a seat belt can save up to 15% off the medical payments premium.
- Lower Rates for Military – Having a family member in the military could be rewarded with lower auto insurance rates.
Discounts lower rates, but some credits don’t apply to the whole policy. A few only apply to individual premiums such as comprehensive or collision. So even though you would think you could get a free auto insurance policy, company stockholders wouldn’t be very happy.
The diagram below shows the difference between Dodge Journey car insurance rates with and without discounts. The rate quotes are based on a male driver, no claims or driving citations, New Jersey state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, claim-free, multi-car, safe-driver, and multi-policy discounts applied.
To see insurance companies that provide some of the discounts listed above in New Jersey, click here.
Affordable car insurance rates are out there
Some companies may not offer price quotes online and many times these smaller companies work with independent agencies. Cheaper Dodge Journey insurance in Newark can be bought on the web in addition to local insurance agencies, and you should be comparing both so you have a total pricing picture.
You just learned many tips how you can reduce Dodge Journey insurance premium rates online in Newark. The most important thing to understand is the more quotes you get, the higher your chance of finding the cheapest Dodge Journey rate quotes. You may even find the biggest savings come from the least-expected company. Smaller companies often have lower prices on specific markets as compared to the big name companies such as State Farm, GEICO and Nationwide.
Additional detailed information can be found at these sites:
- Choosing an Insurance Company (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance for a 20 Year Old Female in Newark? (FAQ)
- Who Has Cheap Newark Auto Insurance for College Students? (FAQ)
- Who Has Affordable Newark Auto Insurance for Low Credit Scores? (FAQ)
- What are my Rights when Filing a Claim? (Insurance Information Institute)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)