If saving money is your primary concern, then the best way to find cheaper Honda CR-Z insurance in Newark is to begin comparing prices regularly from insurance carriers in New Jersey. Prices can be compared by following these steps.
- Try to learn a little about how insurance companies determine prices and the factors you can control to prevent rate increases. Many risk factors that cause high rates such as traffic tickets, fender benders, and an unfavorable credit rating can be amended by being financially responsible and driving safely. Continue reading for ideas to help reduce prices and find additional discounts.
- Quote rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO or Farmers Insurance, while agents who are independent can quote rates for a wide range of insurance providers. Find a Newark insurance agent
- Compare the new rate quotes to your existing coverage to see if a cheaper price is available. If you find a better price and change companies, make sure coverage does not lapse between policies.
- Give notification to your agent or company to cancel your existing policy and submit a down payment along with a signed application to the newly selected company. Once received, put the new certificate verifying proof of insurance in your glove compartment.
One key aspect when comparing rates is to make sure you’re comparing identical coverage information on each quote and and to get rate quotes from every insurance company. Doing this helps ensure an apples-to-apples comparison and the most accurate and complete price analysis.
Unthinkable but true, nearly 70% of customers have purchased from the same company for more than four years, and 38% of drivers have never compared quotes from other companies. The average driver in Newark could cut their rates by roughly 40% a year just by getting comparison quotes, but they don’t understand how simple it is to find affordable auto insurance rates.
If you have a current car insurance policy, you should be able to cut your premiums using these methods. Locating the best rates in Newark is not rocket science. But New Jersey vehicle owners need to learn how companies sell online and use this information to your advantage.
To get the cheapest Honda CR-Z rate quotes, there a variety of ways of comparing price quotes from many car insurance companies in New Jersey. The simplest method to compare Honda CR-Z insurance prices involves getting comparison quotes online.
Comparison shopping price quotes online is easy and it takes the place of having to physically go to insurance agencies in your area. The internet eliminates this option unless your situation requires the professional advice that you can only get from talking to an agent. However, consumers can comparison shop your insurance online and get advice from an agent in your area. Just remember that more quotes gives you a better chance of getting more affordable rates. Not every company does Newark CR-Z insurance quotes online, so it’s important to also get rates from them, too.
The car insurance companies shown below are ready to provide quotes in Newark, NJ. If multiple companies are listed, we recommend you visit as many as you can to get the cheapest price.
Eight Things That Affect Your Insurance Costs
Many different elements are used when premium rates are determined. Some are pretty understandable like a motor vehicle report, but other criteria are not as apparent such as whether you are married or your financial responsibility. A large part of saving on auto insurance is knowing some of the elements that are used to determine your premiums. If you understand what controls the rates you pay, this enables you to make decisions that will entitle you to lower premium levels.
- Consider raising coverage deductibles – Deductibles for physical damage define how much you are willing to pay if you file a covered claim. Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Examples of some claims that would be covered would be a windshield broken by a bird, fire damage, and damage from wind. The more money you pay before a claim is paid (deductible), the less your company will charge you for insurance.
- Cheaper auto insurance rates using theft deterrents – Owning a car that has a built-in theft deterrent system can earn a premium discount. Theft prevention features such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help stop your car from being stolen.
- Occupation can influence rates – Careers such as judges, business owners, and emergency personnel usually pay higher rates than the rest of us due to intense work requirements and lengthy work days. On the flip side, occupations such as professors, athletes and performers receive lower rates.
- Small coverages can add up – There are a lot of additional extra coverages that can waste your money on your auto insurance policy. Coverages like personal injury protection, high-cost glass coverage, and extra life insurance coverage are some examples. They may seem like a good idea initially, but your needs may have changed so eliminate them to save money.
- Accidents can be expensive – Your driving record can have a huge impact on auto insurance premiums. Even one citation can bump up the cost twenty percent or more. Drivers with clean records tend to pay less for car insurance compared to bad drivers. Drivers who get careless violations such as DUI or reckless driving are required to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to continue driving.
- Older drivers are lower risk – Youthful drivers in New Jersey are statistically shown to be careless and easily distracted when at the wheel of a vehicle therefore auto insurance rates are much higher. If you’ve ever had to add a teen driver to your auto insurance policy can increase premiums substantially. Older, more experienced drivers are viewed as being more responsible, tend to file fewer claims, and get fewer tickets.
- Single drivers may get higher premiums – Having a spouse helps lower the price on auto insurance. Marriage generally demonstrates drivers are more mature and insurance companies like that married couples file fewer claims.
- Gender and insurance – Over the last 50 years, statistics have shown that females take fewer risks when driving. This data doesn’t prove that females are better at driving than males. Males and females cause fender benders in similar percentages, but men have costlier accidents. Men also tend to receive more costly citations like DWI (DUI) or reckless driving. Youthful male drivers tend to get in the most accidents and are penalized with high auto insurance rates.
Honda CR-Z claim probability – Insurers factor in insurance loss information when they calculate premium rates for each model. Vehicles that tend to have higher number or severity of losses will have higher rates for specific coverages. The table below demonstrates the compiled insurance loss statistics for Honda CR-Z vehicles.
For each policy coverage, the claim probability for all vehicles, as a total average, is considered to be 100. Numbers under 100 indicate better than average losses, while percentages above 100 indicate a higher chance of having a claim or a tendency for losses to be larger than average.
Insurance Loss Ratings for Honda CR-Z Vehicles Specific Honda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Honda CR-Z Hybrid 106 87 83 98BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why you need quality insurance for your CR-Z
Even though it can be expensive, buying auto insurance is required by state law in New Jersey and it also provides benefits you may not be aware of.
- Almost all states have mandatory liability insurance requirements which means the state requires a minimum amount of liability insurance in order to license the vehicle. 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 you bought your CR-Z with a loan, it’s most likely the lender will have a requirement that you have insurance to ensure the loan is repaid in case of a total loss. If you default on your policy, the lender will be forced to insure your Honda at a more expensive rate and force you to pay a much higher amount than you were paying before.
- Insurance safeguards not only your vehicle but also your financial assets. It will also reimburse you for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, also covers legal expenses if you are sued as the result of an accident. If your car is damaged in a storm or accident, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of insuring your CR-Z more than cancel out the cost, especially when you need to use it. According to a 2015 survey, the average American driver is currently overpaying as much as $865 each year so it’s important to compare rates at every policy renewal to be sure current rates are still competitive.