Sad but true, the vast majority of consumers have been with the same company for four years or more, and almost 40% of drivers have never compared rates with other companies. Many consumers in Newark can save hundreds of dollars each year by just shopping around, but they just assume it takes a lot of time to do a rate comparison.
It takes a little time, but the best way to find cheaper quotes for auto insurance rates in Newark is to make a habit of regularly comparing prices from companies in New Jersey. You can compare rates by following these guidelines.
- Step 1: Get an understanding of the coverage provided by your policy and the factors you can control to keep rates low. Many rating criteria that result in higher rates like speeding tickets, accidents and bad credit can be rectified by making lifestyle changes or driving safer.
- Step 2: Get rate quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO and State Farm, while agents who are independent can give you price quotes for many different companies.
- Step 3: Compare the quotes to your existing policy to see if a cheaper rate is available. If you can save some money and change companies, make sure there is no lapse between the expiration of your current policy and the new one.
A valuable tip to remember is to try to use the same physical damage deductibles and liability limits on each price quote and and to get price quotes from as many car insurance companies as possible. This enables a fair price comparison and the best price quote selection.
If you have coverage now, you stand a good chance to be able to get lower rates using the following tips. Shopping around for the lowest-priced insurance policy in Newark is quite easy. But New Jersey car owners must know how companies market on the web and take advantage of how the system works.
Rates and detailed analysis
The coverage table displayed below showcases a range of insurance rates for GMC Acadia models. Learning more about how rates are determined can help guide drivers when making decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Acadia SL 2WD | $252 | $468 | $624 | $36 | $188 | $1,568 | $131 |
| Acadia SL AWD | $290 | $468 | $624 | $36 | $188 | $1,606 | $134 |
| Acadia SLE 2WD | $290 | $468 | $624 | $36 | $188 | $1,606 | $134 |
| Acadia SLE AWD | $290 | $570 | $624 | $36 | $188 | $1,708 | $142 |
| Acadia SLT 2WD | $290 | $570 | $624 | $36 | $188 | $1,708 | $142 |
| Acadia SLT AWD | $328 | $570 | $624 | $36 | $188 | $1,746 | $146 |
| Get Your Own Custom Quote Go | |||||||
Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Premium amounts do not factor in specific location which can raise or lower insurance rates noticeably.
Cost comparison with and without full coverage
The example below visualizes the comparison of GMC Acadia annual premium costs with full physical damage coverage compared to only buying the minimum liability limits required in New Jersey. The information is based on no claims or driving violations, $250 deductibles, single status, and no discounts are factored in.
When to drop comprehensive and collision coverage
There is no exact formula that works best for making the decision to drop comp and collision coverage, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s assume your GMC Acadia replacement cost is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $8,000 after the policy deductible has been paid. If you are paying over $800 a year for your policy with full coverage, then you might want to consider buying only liability coverage.
There are a few cases where dropping physical damage coverage is not in your best interest. If you still owe a portion of the original loan, you have to maintain 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 totaled, you should not consider dropping full coverage.
Get cheaper GMC Acadia insurance in Newark with discounts
Some providers don’t always list every discount in a way that’s easy to find, so we break down a few of the more common as well as some of the hidden discounts that you may qualify for. If you do not check that you are getting every discount you deserve, you are just wasting money.
- Good Students Pay Less – Excelling in school can earn a discount of 20% or more. This discount can apply up until you turn 25.
- Accident Forgiveness Coverage – This one is not really a discount per se, but a handful of insurance companies will turn a blind eye to one accident without raising rates if you have no claims prior to the accident.
- Telematics Discount – Drivers who elect to allow companies to spy on driving manner by using a small device installed in their vehicle like Allstate’s Drivewise might get better premium rates as long as the data is positive.
- Passive Restraints – Cars that have air bags or automatic seat belts can get savings up to 30%.
- Anti-lock Brake System – Cars, trucks, and SUVs that have steering control and anti-lock brakes are much safer to drive and therefore earn up to a 10% discount.
- E-sign – A few larger online companies will discount your bill up to fifty bucks shop Newark car insurance on the web.
- Buy New and Save – Putting insurance coverage on a new Acadia can be considerably cheaper since new model year vehicles are generally safer.
- Active Service Discounts – Being on active duty in the military could be rewarded with lower premium rates.
- Club Memberships – Being in certain professional organizations can get you a small discount on your policy.
A little disclaimer on discounts, some of the credits will not apply to all coverage premiums. Most cut specific coverage prices like collision or personal injury protection. So when it seems like you could get a free insurance policy, companies don’t profit that way.
The example below illustrates the difference between GMC Acadia auto insurance costs with and without policy discounts. The data is based on a female driver, no violations or claims, New Jersey state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, multi-policy, marriage, homeowner, and claim-free discounts applied.
A partial list of companies that have most of the discounts above include:
When getting a coverage quote, ask every prospective company which credits you are entitled to. Depending on the company, some discounts may not apply to policyholders in Newark. To see companies with the best GMC Acadia insurance discounts in Newark, click this link.
Auto insurance coverage breakdown
Having a good grasp of your policy can help you determine appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.
Comprehensive insurance
Comprehensive insurance covers damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims like falling objects, hitting a bird and vandalism. The maximum payout a auto insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Med pay and Personal Injury Protection (PIP)
Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses such as nursing services, pain medications, surgery, EMT expenses and prosthetic devices. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
Liability insurance
Liability insurance can cover damages or injuries you inflict on people or other property in an accident. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 15/30/5 that translate to a $15,000 limit per person for injuries, $30,000 for the entire accident, and $5,000 of coverage for damaged property.
Liability can pay for claims such as medical expenses, loss of income, funeral expenses, attorney fees and medical services. How much coverage you buy is up to you, but buy as much as you can afford. New Jersey requires drivers to carry at least 15/30/5 but you should consider buying better liability coverage.
The chart below shows why the minimum limit may not be adequate coverage.
Auto collision coverage
This pays to fix your vehicle from damage caused by collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims like backing into a parked car, rolling your car, hitting a mailbox and crashing into a ditch. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible on your Acadia to bring the cost down.
Uninsured/Underinsured Motorist (UM/UIM)
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. Covered losses include injuries to you and your family as well as your vehicle’s damage.
Since a lot of drivers only purchase the least amount of liability that is required (15/30/5 in New Jersey), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Get the best coverage at the lowest price
Drivers change insurance companies for any number of reasons including an unsatisfactory settlement offer, unfair underwriting practices, delays in responding to claim requests or even poor customer service. Regardless of your reason for switching companies, finding a great new company can be less work than you think.
When trying to cut insurance costs, you should never reduce coverage to reduce premium. There are a lot of situations where an insured dropped liability coverage limits and learned later that the few dollars in savings costed them thousands. The ultimate goal is to purchase a proper amount of coverage at the best cost while not skimping on critical coverages.
We just showed you a lot of information how to compare GMC Acadia insurance rates in Newark. It’s most important to understand that the more quotes you get, the more likely it is that you will get a better rate. Drivers may even discover the lowest rates come from the smaller companies.
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