Best Insurance for a Dodge Viper in Newark

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Insurance for Dodge ViperIf you want to find the absolute lowest rates, then the best way to get budget Dodge Viper insurance is to start comparing prices regularly from insurance carriers in Newark. Rate comparisons can be done by completing these steps.

  1. It will benefit you to learn about how companies price auto insurance and the things you can control to prevent rate increases. Many rating factors that result in higher prices like getting speeding tickets and an unacceptable credit rating can be remedied by making lifestyle changes or driving safer. Read the full article for more information to get low prices and find discounts that may have been missed.
  2. Request price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO or State Farm, while independent agencies can provide prices from multiple companies.
  3. Compare the new quotes to your existing policy and see if there is a cheaper rate in Newark. If you find a lower rate and buy the policy, ensure there is no coverage lapse between policies.
  4. Provide proper notification to your current company of your decision to cancel your current car insurance policy. Submit a completed application and payment to your new agent or company. As soon as you have the new policy, store the proof of insurance paperwork in an accessible location in your vehicle.

The key thing to remember is that you'll want to make sure you compare similar deductibles and liability limits on each quote and to quote with as many auto insurance providers as possible. Doing this provides a fair rate comparison and plenty of rates choose from.

Unbelievable but true, 70% of consumers have stayed with the same insurance company for more than four years, and approximately 38% of consumers have never compared auto insurance rates at all. Many drivers in the United States can save about $850 each year just by shopping around, but they don't believe the amount of savings they would get if they changed companies.

Most companies give prices for coverage from their websites. Doing online quotes for Dodge Viper insurance in Newark is pretty painless as you just enter your coverage preferences as detailed in the form. After you complete the form, their system collects your driving and credit reports and returns pricing information.

This streamlines rate comparisons, and it's necessary to do this in order to find the cheapest car insurance rates.

To find out what other companies charge, compare rates now from the companies shown below. If you have your current policy handy, we recommend you type in the coverages as close as possible to your current policy. Using the same limits helps guarantee you will get comparison quotes using the same coverage and limits.

The following companies are our best choices to provide free quotes in New Jersey. If you wish to find cheap auto insurance in Newark, NJ, we recommend you get rates from several of them to find the cheapest auto insurance rates.

Rates and data analysis

The information displayed next highlights estimates of insurance coverage prices for Dodge Viper models. Having a good grasp of how auto insurance policy rates are established helps drivers make informed decisions when comparing rate quotes.

Dodge Viper Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Viper SRT/10 2-Dr Coupe $536 $1134 $480 $28 $144 $2,322 $194
Viper SRT/10 2-Dr Roadster $536 $1134 $480 $28 $144 $2,322 $194
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Estimates do not factor in specific Newark garaging location which can influence insurance rates greatly.

Auto insurance deductibles

One common question asked by Newark drivers is how high should the deductibles for physical damage be. The tables below help summarize how much more rates are between high and low insurance deductibles. The first price estimate table uses a $250 comprehensive and collision deductible and the second price table uses a $1,000 deductible.

Dodge Viper insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Viper SRT/10 2-Dr Coupe $658 $1406 $480 $28 $144 $2,741 $228
Viper SRT/10 2-Dr Roadster $658 $1406 $480 $28 $144 $2,741 $228
Get Your Own Custom Quote Go
Dodge Viper insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Viper SRT/10 2-Dr Coupe $406 $884 $480 $28 $144 $1,942 $162
Viper SRT/10 2-Dr Roadster $406 $884 $480 $28 $144 $1,942 $162
Get Your Own Custom Quote Go

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Prices do not factor in your specific Newark location which can alter prices noticeably.

We can estimate from the data above that using a $250 deductible will cost in the ballpark of $66 more each month or $792 every year than buying the higher $1,000 deductible. Since you would pay $750 more out of your own pocket with a $1,000 deductible as compared to a $250 deductible, if you have more than 11 months between claim filings, you would come out ahead if you elect the higher deductible. Here's an example of how you can perform this determination yourself.

Average monthly premium for $250 deductibles: $228
Average monthly premium for $1,000 deductibles (subtract): - $162
Monthly savings from raising deductible: $66
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $66
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 11 months

One important note is that a higher deductible level results in a higher out-of-pocket expense when you have a comprehensive or collision claim. That will necessitate enough disposable income in order to pay the higher deductible.

The chart below demonstrates how deductibles and can impact Dodge Viper insurance costs for different categories of driver ages. The premium estimates are based on a married female driver, full physical damage coverage, and no discounts are factored in.

Rate comparison of full coverage and liability-only

The chart below shows the difference between Dodge Viper insurance premiums with and without physical damage coverage. The rate quotes are based on no accidents, no driving violations, $100 deductibles, single status, and no discounts are taken into consideration.

When to stop paying for full coverage

There isn't a steadfast formula for phasing out comp and collision coverage, but there is a guideline you can consider. If the annual cost of having full coverage is more than about 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.

For example, let's pretend your Dodge Viper settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $4,000 after paying the physical damage deductible. If it's costing you more than $400 annually for physical damage coverage, then you might want to consider buying only liability coverage.

There are some circumstances where buying only liability insurance is not advised. If you haven't satisfied your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you can't afford to buy a different vehicle if your current one is in an accident, you should not opt for liability only.

Insurance is an important decision

Despite the high insurance cost for a Dodge Viper in Newark, paying for insurance is required by state law in New Jersey and it also provides benefits you may not be aware of.

  • Just about all states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific level of liability coverage 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 your Dodge has a loan, it's most likely the lender will make it mandatory that you buy insurance to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Dodge for a lot more money and force you to reimburse them much more than you were paying before.
  • Insurance protects not only your Dodge Viper but also your assets. It will also reimburse you for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also covers legal expenses if anyone sues you for causing an accident. If your car is damaged in a storm or accident, collision and comprehensive coverages will pay to have it repaired.

The benefits of carrying adequate insurance greatly outweigh the cost, especially with large liability claims. The average driver in America overpays more than $850 per year so you should quote rates once a year at a minimum to make sure the price is not too high.

Get cheaper Dodge Viper insurance rates in Newark

Not too many consumers would say car insurance is affordable, but there are discounts available that many consumers don't even know exist. Some discounts apply automatically at the time you complete a quote, but a few must be specially asked for before being credited.Car insurance discounts

  • Early Payment Discounts - If you pay your entire premium ahead of time rather than spreading payments over time you can avoid the installment charge.
  • Life Insurance - Select car insurance companies reward you with a small discount if you purchase some life insurance too.
  • 55 and Retired - Older drivers may be able to get lower premium rates.
  • Auto/Home Discount - If you insure your home and vehicles and insure them both with the same insurance company they may give you a discount of approximately 10% to 15%.
  • Savings for New Vehicles - Adding a new car to your policy can cost up to 25% less due to better safety requirements for newer vehicles.
  • Defensive Driver Discount - Participating in a course in defensive driving can save you 5% or more and easily recoup the cost of the course.

Policy discounts save money, but most of the big mark downs will not be given to the overall cost of the policy. Most cut specific coverage prices like medical payments or collision. Even though it may seem like you can get free auto insurance, company stockholders wouldn't be very happy. Any amount of discount should definitely cut the amount you have to pay.

The illustration below illustrates the difference between Dodge Viper insurance rates with and without discounts applied to the rates. The rate quotes are based on a female driver, no claims or driving citations, New Jersey state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, claim-free, safe-driver, marriage, and homeowner discounts applied.

A list of car insurance companies and their possible discounts are detailed below.

  • State Farm offers discounts including multiple policy, safe vehicle, Steer Clear safe driver discount, student away at school, and passive restraint.
  • Liberty Mutual includes discounts for multi-policy, preferred payment discount, new vehicle discount, newly retired, and hybrid vehicle.
  • American Family may have discounts that include good driver, mySafetyValet, accident-free, Steer into Savings, and good student.
  • Progressive offers premium reductions for continuous coverage, homeowner, good student, online signing, and online quote discount.
  • Farmers Insurance may offer discounts for electronic funds transfer, multi-car, business and professional, early shopping, switch companies, mature driver, and youthful driver.
  • Auto-Owners Insurance offers discounts for paperless, group or association, safe driver, paid in full, good student, safe vehicle, and anti-theft.
  • SAFECO discounts include safe driver, anti-theft, homeowner, anti-lock brakes, and teen safety rewards.

Double check with each company or agent which discounts you may be entitled to. Depending on the company, some discounts may not apply to policyholders in Newark.

Compare rates but still have a neighborhood Newark auto insurance agent

Many drivers just prefer to get advice from a local agent and often times that is recommended Insurance agents will help you protect your assets and will help you if you have claims. The best thing about comparing auto insurance online is you may find lower rates and still buy from a local agent. Buying from small agencies is important especially in Newark.

Insurance agents in NewarkTo help locate an agent, after submitting this quick form, your coverage information is instantly submitted to participating agents in Newark who will return price quotes for your business. It's much easier because you don't need to leave your house due to the fact that quote results will go immediately to you. In the event you want to quote rates from a specific auto insurance provider, you can always find their quoting web page and complete a quote there.

If you prefer to buy auto insurance from local Newark agents, there are two different agency structures and how they function. Auto insurance agencies are either independent or exclusive depending on the company they work for. Both types can sell affordable auto insurance policies, but it's important to point out how they are different since it can impact the selection process.

Independent Auto Insurance Agents

Agents of this type are not employed by any specific company so they can insure your vehicles amongst many companies and find the cheapest rate. If prices rise, they simply move your policy to a different company and the insured can keep the same agent.

When comparing rate quotes, you absolutely need to get quotes from several independent insurance agents so that you can do a thorough price comparison. Most have the option of insuring with less well-known companies that may have much lower rates than larger companies.

Listed below are Newark independent insurance agents who may be able to give you price quote information.

  • Arabo Insurance Group Inc
    675 Bergen St - Newark, NJ 07108 - (973) 391-9595 - View Map
  • Monak Insurance
    583 Central Ave - Newark, NJ 07107 - (973) 350-7850 - View Map

  • 306 Chestnut St - Newark, NJ 07105 - (973) 344-6203 - View Map

View more Newark agents

Exclusive Auto Insurance Agents

Agents that choose to be exclusive have only one company to place business with and examples are Farmers Insurance or State Farm. These agents are not able to compare rates from other companies so always compare other rates. These agents are very knowledgeable on their company's products which helps them compete with independent agents. Some insured continue to choose to use an exclusive agent partially due to the brand name rather than low price.

Below is a short list of exclusive insurance agencies in Newark that can give you price quote information.

View more Newark agents

Deciding on a auto insurance agent should depend on more than just a cheap quote. Agents should be asked these questions:

  • Do you need full coverage on every vehicle?
  • If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
  • Is the agent and/or agency licensed to do business in New Jersey?
  • Will a damage claim use OEM or aftermarket replacement parts?
  • What kind of financial rating does the company have?
  • How often do they review policy coverages?
  • Will you get a loaner vehicle if you car is being repaired?

Upon getting positive feedback to all your questions as well as a price you're happy with, most likely you have located an insurance agency that will properly service your auto insurance policy. Just keep in mind it's your policy and you can cancel your coverage whenever you choose to so don't think you are locked into any particular company for the entire policy term.

Which auto insurance company is best in Newark?

Finding the right insurance company can be difficult considering how many choices there are in Newark. The rank data in the lists below can help you decide which auto insurers you want to consider when comparing rate quotes.

Top 10 Newark Car Insurance Companies Overall

  1. Mercury Insurance
  2. The Hartford
  3. Progressive
  4. Travelers
  5. State Farm
  6. Farmers Insurance
  7. Safeco Insurance
  8. USAA
  9. GEICO
  10. 21st Century

Top 10 Newark Car Insurance Companies by A.M. Best Rank

  1. GEICO - A++
  2. Travelers - A++
  3. State Farm - A++
  4. USAA - A++
  5. Allstate - A+
  6. Nationwide - A+
  7. Mercury Insurance - A+
  8. Progressive - A+
  9. The Hartford - A+
  10. Esurance - A+

Learn about car insurance coverages for a Dodge Viper

Knowing the specifics of car insurance helps when choosing the best coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording.

Comprehensive coverage (or Other than Collision)

This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like damage from getting keyed, vandalism and theft. The highest amount a car insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle's value it's probably time to drop comprehensive insurance.

Uninsured Motorist or Underinsured Motorist insurance

This protects you and your vehicle's occupants when the "other guys" either have no liability insurance or not enough. It can pay for injuries to you and your family and also any damage incurred to your Dodge Viper.

Since a lot of drivers only purchase the least amount of liability that is required (which is 15/30/5), their limits can quickly be used up. That's why carrying high Uninsured/Underinsured Motorist coverage is very important. Frequently these coverages are identical to your policy's liability coverage.

Liability coverages

Liability insurance provides protection from damages or injuries you inflict on a person or their property. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 15/30/5 that translate to $15,000 in coverage for each person's injuries, $30,000 for the entire accident, and a total limit of $5,000 for damage to vehicles and property. Another option is a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.

Liability coverage pays for claims like structural damage, bail bonds and repair bills for other people's vehicles. How much liability coverage do you need? That is your choice, but you should buy as large an amount as possible. New Jersey requires minimum liability limits of 15/30/5 but it's recommended drivers buy higher limits.

The chart below demonstrates why buying low liability limits may not be adequate coverage.

Insurance for medical payments

Coverage for medical payments and/or PIP reimburse you for expenses for funeral costs, X-ray expenses, chiropractic care and nursing services. They are used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. Coverage applies to all vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Collision protection

This coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things like sustaining damage from a pot hole, colliding with another moving vehicle, damaging your car on a curb, crashing into a ditch and crashing into a building. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. Another option is to raise the deductible on your Viper in order to get cheaper collision rates.

Compare car insurance rates regularly to save

People leave their current company for many reasons like being labeled a high risk driver, denial of a claim, poor customer service and even lack of trust in their agent. Regardless of your reason for switching companies, choosing a new company can be less work than you think.

We've covered many tips how you can get a better price on Dodge Viper insurance in Newark. The most important thing to understand is the more times you quote, the better your chances of lowering your rates. Consumers could even find that the best price on car insurance is with the least-expected company.

When trying to cut insurance costs, make sure you don't sacrifice coverage to reduce premiums. There are a lot of situations where someone dropped full coverage only to find out that the savings was not a smart move. Your goal is to buy the best coverage you can find at the lowest possible cost.

Even more information can be found at these sites: