Sick and tired of being strong-armed each month for auto insurance? You’re in the same situation as the majority of other consumers in New Jersey.
Surprisingly, a recent survey revealed that the vast majority of auto insurance customers have purchased from the same company for a minimum of four years, and practically 40% of auto insurance customers have never even shopped around for affordable coverage. The average driver in Newark could save almost 40% a year just by shopping around, but most tend to underestimate the amount of savings they would get if they replace their high priced policy.
Steps to quoting cheaper Volvo S60 insurance in Newark
It takes a little time, but the best way to find more affordable auto insurance rates in Newark is to start comparing prices yearly from providers who sell auto insurance in New Jersey.
Step 1: Read about how companies price auto insurance and the changes you can make to prevent expensive coverage. Many risk factors that result in higher prices like speeding tickets, accidents and an unacceptable credit rating can be remedied by making minor changes in your lifestyle. This article provides the details to find cheap rates and find discounts that may have been missed.
Step 2: Request rate estimates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from one company like Progressive and State Farm, while agents who are independent can quote prices from many different companies.
Step 3: Compare the new quotes to your existing policy to see if a cheaper price is available. If you find better rates and make a switch, ensure coverage does not lapse between policies.
A good tip to remember is to make sure you enter identical coverage information on every quote and and to analyze every company you can. This guarantees a level playing field and plenty of rates choose from.
Consumers have multiple car insurance companies to purchase coverage from, and though it is a good thing to be able to choose, having more car insurance companies makes it harder to compare rates and cut insurance costs.
Most of the larger companies allow you to get pricing online. Getting quotes for Volvo S60 insurance in Newark is easy for anyone because you just enter the coverage amounts you desire into a form. Once entered, the company’s rating system makes automated requests for reports for credit and driving violations and generates pricing information based on the information you submitted. This makes it easy to compare insurance prices and it’s very important to have as many quotes as possible in order to get cheaper auto insurance pricing.
To quickly compare rates using this form now, compare rates now from the companies shown below. If you currently have coverage, we recommend you complete the form with the insurance coverages as shown on your current policy. Using the same limits helps guarantee you will be getting comparison quotes based on identical coverages.
The companies shown below are ready to provide quotes in Newark, NJ. If you want cheap car insurance in NJ, we suggest you get prices from several of them to get a more complete price comparison.
The Volvo S60 Insurance Cost Equation
A large part of saving on insurance is knowing a few of the rating criteria that help determine the level of your policy premiums. If you understand what influences your rates, this enables you to make decisions that can help you get lower insurance prices. Lots of things are part of the equation when you quote your car insurance policy. Some factors are common sense such as traffic violations, but other criteria are less apparent like your vehicle usage or your commute time.
- Bad drivers pay high costs – Drivers with clean records get better prices than bad drivers. Getting just one speeding ticket can increase rates by as much as twenty percent. Drivers who have gotten severe violations like DUI or reckless driving may need to maintain a SR-22 to the state department of motor vehicles in order to keep their license.
- Discounts for alarms and GPS tracking – Purchasing a vehicle with a theft deterrent system can earn a premium discount. Systems that thwart thieves such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder your car from being stolen.
- Proper usage rating affects premiums – The more you drive your Volvo in a year the more you’ll pay to insure it. A lot of insurance companies calculate prices based upon how the vehicle is primarily used. Cars and trucks used primarily for pleasure use cost less to insure than those that get driven frequently. Incorrect rating for your S60 may be costing you higher rates. It’s a smart idea to ensure your insurance declarations sheet is rated on how each vehicle is driven, because it can save money.
- Physical damage deductibles – Comp and collision deductibles are the amount of money the insured will be required to pay in the event of a claim. Physical damage protection, aka comp and collision, insures against damage to your car. A few examples of covered claims could be rear-ending another vehicle, collision with a deer, or theft of your vehicle. The more damage repair cost you pay before a claim is paid (deductible), the lower your rates will be.
- Your stress level may be raising your prices – Did you know your career choice can influence rates? Jobs such as military personnel, executives, and emergency personnel tend to pay higher rates than average due to stressful work requirements and long work days. Other jobs such as actors, students and the unemployed pay the least.
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Volvo S60 insurance loss data – Car insurance companies analyze claim trends for every vehicle when determining insurance rates. Models that are shown to have increased losses will be charged more to insure.
The table below demonstrates the actual insurance loss data for Volvo S60 vehicles. For each policy coverage type, the loss probability for all vehicles, regardless of manufacturer or model, is set at 100. Numbers that are below 100 suggest a positive loss record, while percentage numbers above 100 indicate higher probability of having a loss or tendency to have larger claims.
Volvo S60 Insurance Loss Statistics Specific Volvo Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Volvo S60 4dr 2WD 103 85 83 76 72 65 Volvo S60 4dr 4WD 111 73 90 65 66 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Why you need to buy auto insurance
Despite the high cost, maintaining insurance is a good idea for several reasons.
First, just about all states have mandatory insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance in order to be legal. 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.
Second, if your vehicle has a lienholder, almost every bank will require that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Volvo at an extremely high rate and make you pay for the much more expensive policy.
Third, insurance protects not only your Volvo S60 but also your assets. It will also pay for medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance will also pay attorney fees if anyone sues you for causing an accident. If mother nature or an accident damages your car, collision and comprehensive coverages will cover the repair costs.
The benefits of insuring your car definitely exceed the price paid, especially with large liability claims. But the average American driver is wasting up to $830 a year so it’s very important to do a rate comparison at least once a year to help ensure money is not being wasted.