It takes a little time, but the best way to find more affordable car insurance rates in Newark is to compare prices regularly from different companies who can sell car insurance in New Jersey. Prices can be compared by following these steps.
- Gain an understanding of how your policy works and the things you can control to prevent high rates. Many factors that result in higher rates like speeding and an unacceptable credit history can be controlled by improving your driving habits or financial responsibility.
- Get rate quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO and Allstate, while agents who are independent can give you price quotes from multiple sources.
- Compare the new rate quotes to the price on your current policy to see if you can save by switching companies. If you find a lower rate quote, make sure coverage is continuous and does not lapse.
- Notify your current company of your intent to cancel your existing policy. Submit the application along with any required down payment to your new company or agent. Be sure to place the new certificate of insurance in an easily accessible location.
The key aspect of shopping around is that you use the same liability limits and deductibles on each price quote and and to get rate quotes from every insurance company. Doing this enables a fair price comparison and a complete price analysis.
Astonishing but true, most consumers have purchased from the same company for a minimum of four years, and almost half have never compared car insurance rates at all. Drivers in New Jersey could cut their rates by $720 a year, but they just don’t understand how much money they would save if they switched to a cheaper policy.
Eight Tips to Get Cheap Newark Insurance Rates
Many factors are part of the equation when you get your auto insurance bill. Some factors are common sense like an MVR report, but other factors are more transparent such as your credit history or your financial responsibility.
Shown below are a few of the things used by insurance companies to determine premiums.
- Save money with excellent credit – Having a good credit score is likely to be a major factor in your rate calculation. Insureds that have very good credit scores tend to file fewer claims and have better driving records as compared to drivers with bad credit. If your credit can use some improvement, you could be paying less to insure your Ford GT by improving your rating.
- Your location is important – Residing in a rural area can be a good thing when shopping for auto insurance. Less people means a lower chance of having an accident in addition to fewer liability claims. People in densely populated areas have to deal with congested traffic and a longer drive to work. Spending more time driving means more chances of being involved in an auto accident.
- Bundle policies to earn discounts – Lots of insurers will give a discount to people that purchase more than one policy, otherwise known as a multi-policy discount. The amount of the discounts can be ten or even fifteen percent. If you currently are using one company, it’s in your best interest to compare Ford GT rates in Newark to guarantee you are still saving the most.
- Safer vehicles are cheaper to insure – Cars with five star safety ratings tend to have better insurance rates. Vehicles engineered for safety help reduce the chance of injuries in an accident and fewer injuries translates into savings for insurance companies and more competitive rates for policyholders.
- Do you know your coverage deductibles? – The deductibles you choose are the amount of money the insured will be required to pay before a claim is paid by your company. Coverage for physical damage, termed comprehensive and collision coverage on your policy, insures against damage to your car. Some examples of claims that would be covered are a windshield broken by a bird, hail damage, and having a roll-over accident. The larger the amount you pay before a claim is paid (deductible), the less money you will pay for insurance.
- Age of drivers impacts prices – Older drivers are proven to be safer behind the wheel, tend to cause fewer accidents, and get fewer tickets. Drivers with little experience are proven to get distracted easily with other occupants in the car so insurance rates are higher.
- Do you need those add-on coverages? – Policies have additional coverages that can waste your money on your GT policy. Insurance for coverage for rental cars, towing coverage, and membership fees may be wasting your money. These may sound like a good investment when buying your policy, but if you don’t need them consider taking them off your policy.
- Liability limits are a factor – Liability coverage will provide protection when a court rules you are at fault for damages from an accident. It will provide for a legal defense to defend your case. Liability insurance is quite affordable compared to insuring for physical damage coverage, so buy as much as you can afford.
Which auto insurance company is best in New Jersey?
Buying coverage from the top auto insurance company is difficult considering how many companies there are in Newark. The ranking data in the lists below could help you select which car insurance providers to look at putting your business with.
Top 10 Newark Car Insurance Companies Ranked by Customer Service
- Mercury Insurance
- The Hartford
- American Family
- Progressive
- GEICO
- USAA
- State Farm
- Travelers
- Farmers Insurance
- Allstate
Top 10 Newark Car Insurance Companies by A.M. Best Rank
- GEICO – A++
- Travelers – A++
- State Farm – A++
- USAA – A++
- Allstate – A+
- Nationwide – A+
- Mercury Insurance – A+
- Progressive – A+
- The Hartford – A+
- Esurance – A+
How much can you save?
When buying insurance coverage, it’s a bad idea to skimp on critical coverages to save a buck or two. There have been many situations where drivers have reduced liability limits or collision coverage to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your objective should be to get the best coverage possible at the best possible price but still have enough coverage for asset protection.
Some companies do not provide rate quotes online and most of the time these small insurance companies prefer to sell through local independent agencies. Budget-conscious Ford GT insurance can be found from both online companies and with local Newark insurance agents, so you should be comparing quotes from both so you have a total pricing picture.
We just showed you a lot of information how to lower your Ford GT insurance prices in Newark. The most important thing to understand is the more rate comparisons you have, the higher the chance of saving money. Consumers could even find that the lowest priced car insurance comes from some of the smallest insurance companies.
For more information, link through to the resources below:
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Who Has Cheap Car Insurance Quotes for 19 Year Olds in Newark? (FAQ)
- Who Has Affordable Car Insurance for a Nissan Versa in Newark? (FAQ)
- Who Has the Cheapest Car Insurance for Young Drivers in Newark? (FAQ)
- Comprehensive Coverage (Liberty Mutual)
- Neck Injury FAQ (iihs.org)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- What if I Can’t Find Coverage? (Insurance Information Institute)