Cheap Rate Quotes for Honda Insight Insurance in Newark

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It's easy to assume that insurance companies don't want you shop around. Consumers who shop for lower prices are inclined to switch insurance companies because they have good chances of finding a lower-cost company. A recent insurance study discovered that people who regularly compared rates saved approximately $865 a year compared to those who never shopped around for better prices.

If finding budget-friendly Honda Insight insurance is your target objective, learning how to shop and compare auto insurance can make it easier for you to save money.

Insurance rates Honda Insight in NewarkIf your goal is the lowest price, then the best way to find better pricing on Honda Insight insurance in Newark is to compare prices once a year from different companies in New Jersey. Drivers can shop around by completing these steps.

  • Step 1: Gain an understanding of coverages and the things you can control to keep rates in check. Many policy risk factors that increase rates such as tickets, at-fault accidents, and an unacceptable credit rating can be controlled by making minor changes to your lifestyle. Read the full article for more ideas to get affordable coverage and earn larger discounts.
  • Step 2: Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can provide rates from one company like GEICO and State Farm, while independent agencies can quote rates from multiple sources.
  • Step 3: Compare the quotes to your existing policy and determine if cheaper Insight coverage is available in Newark. If you can save money, make sure there is no lapse between the expiration of your current policy and the new one.
  • Step 4: Give notification to your agent or company to cancel your current auto insurance policy and submit payment along with a signed and completed policy application for your new coverage. As soon as you have the new policy, put the new proof of insurance certificate with your registration paperwork.

One piece of advice is to try to compare the same deductibles and limits on every price quote and and to get prices from as many companies as possible. This ensures a level playing field and a complete price analysis.

Locating the best rates in Newark is actually not that difficult if you follow our advice. If you're already insured or just want to reduce your rates, you can use this information to reduce premiums without reducing coverage. Consumers just have to learn the quickest method to compare rate quotes from multiple carriers.

Companies offer money-saving discounts on Honda Insight insurance in Newark

Buying insurance is not cheap, but you might be missing out on some discounts that could drop your premiums quite a bit. Some discounts apply automatically at the time you complete a quote, but some may not be applied and must be requested specifically before they will apply.

  • Auto/Home Discount - If you insure your home and vehicles and place coverage with the same company you may save 10% to 20% off each policy.
  • Drivers Ed for Students - Cut your cost by having your teen driver successfully complete driver's ed class in high school.
  • No Accidents - Claim-free drivers are rewarded with significantly better rates on Newark car insurance quote as opposed to drivers with a long claim history.
  • Pay Early and Save - If paying your policy premium upfront rather than spreading payments over time you can actually save on your bill.
  • ABS and Traction Control Discounts - Vehicles that have steering control and anti-lock brakes can reduce accidents and qualify for as much as a 10% discount.
  • More Vehicles More Savings - Buying a policy with multiple cars or trucks on one policy can reduce the rates for all insured vehicles.
  • Renewal Discounts - Some insurance companies reward drivers for buying a new policy prior to the expiration date on your current Insight insurance policy. This can save 10% or more.

One last thing about discounts, most discounts do not apply to the whole policy. Most only apply to individual premiums such as liability and collision coverage. Despite the appearance that you can get free auto insurance, it doesn't quite work that way.

The information below compares Honda Insight premium costs with and without some available policy discounts. The price estimates are based on a female driver, no tickets, no at-fault accidents, New Jersey state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, homeowner, multi-policy, multi-car, and marriage discounts applied.

A few of the larger companies and some of the discounts are outlined below.

  • Progressive has discounts for continuous coverage, online quote discount, multi-vehicle, multi-policy, homeowner, and good student.
  • AAA includes discounts for multi-car, pay-in-full, multi-policy, anti-theft, good student, good driver, and AAA membership discount.
  • Farmers Insurance discounts include pay in full, mature driver, teen driver, good student, and electronic funds transfer.
  • GEICO offers discounts for military active duty, federal employee, multi-policy, five-year accident-free, good student, and emergency military deployment.
  • Esurance offers discounts including online quote, anti-lock brakes, good student, multi-car, and defensive driver.
  • SAFECO may have discounts that include multi-car, anti-theft, bundle discounts, anti-lock brakes, teen safety rewards, safe driver, and accident prevention training.
  • State Farm offers premium reductions for accident-free, good student, safe vehicle, defensive driving training, good driver, and passive restraint.

When quoting, ask all companies you are considering what discounts are available to you. Some discounts listed above may not be available in Newark. To view insurance companies who offer discounts in Newark, click this link.

Finding cheap Newark car insurance prices can be surprisingly simple. The only requirement is to spend a few minutes getting comparison quotes from some recommended companies.

Doing online quotes comparisons is so easy that it makes it a waste of time to go to different Newark agent offices. Comparing online rate quotes has reduced the need for local agents unless you have a need for the advice and guidance that can only be provided by a licensed insurance agent. However, consumers can obtain prices from the web but purchase the actual policy in an agency.

The companies in the list below have been selected to offer free rate quotes in Newark, NJ. If your goal is to find cheap auto insurance in Newark, NJ, we recommend you visit two to three different companies in order to get a fair rate comparison.

Insurance statistics for a Honda Insight

The coverage information displayed next showcases different insurance policy prices for Honda Insight models. Having a better understanding of how insurance prices are formulated helps drivers make informed decisions when shopping around for a new policy.

Honda Insight Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $278 $620 $452 $26 $136 $1,512 $126
Insight EX $318 $730 $452 $26 $136 $1,662 $139
Get Your Own Custom Quote Go

Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Information does not factor in the specific area where the vehicle is garaged which can alter coverage prices significantly.

Deductible analysis

One of the more difficult decisions when buying insurance is how high or low should comp and collision deductibles be. The tables below highlight how much more you'll pay when you choose different policy deductibles. The first data set uses a $100 deductible for physical damage and the second price table uses a $1,000 deductible.

Honda Insight insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $360 $746 $480 $28 $144 $1,783 $149
Insight EX $414 $880 $480 $28 $144 $1,971 $164
Get Your Own Custom Quote Go
Honda Insight insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Insight LX $200 $394 $480 $28 $144 $1,246 $104
Insight EX $230 $464 $480 $28 $144 $1,346 $112
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Information does not factor in vehicle location which can influence premium rates greatly.

We can estimate from the data above that using a $100 deductible will cost you roughly $49 more each month or $588 each year averaged for all Insight models than quoting the higher $1,000 deductible. Because you would be required to pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average at least 18 months between claim filings, you would probably be better off if you decide on a higher deductible. The illustration below shows the way this decision is made.

Average monthly premium for $100 deductibles: $157
Average monthly premium for $1,000 deductibles (subtract): - $108
Monthly savings from raising deductible: $49
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $49
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 18 months

One important issue to know is that a higher deductible means you pay more out-of-pocket if you have a claim. That will require enough money in the bank in the event you have to pay the deductible for vehicle repair.

The illustration below shows how different deductible levels and can influence Honda Insight insurance premiums for different categories of driver ages. The information is based on a single female driver, full physical damage coverage, and no discounts are taken into consideration.

Do you need full coverage?

The illustration below illustrates the comparison of Honda Insight insurance costs with liability coverage only compared to full coverage. The costs are based on no accidents, no driving violations, $250 deductibles, single marital status, and no discounts are taken into consideration.

Are you wasting money paying for full coverage?

There is no exact rule to exclude physical damage coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let's assume your Honda Insight book value is $9,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $8,000 after you pay the deductible. If premium cost is more than $800 annually to have full coverage, then you might consider buying liability only.

There are a few cases where removing full coverage is not recommended. If you still have a loan on your vehicle, you are required to maintain full coverage to protect the lienholder's interest. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not remove full coverage.

Newark Insurance Costs are Influenced by These Factors

An important part of buying insurance is that you know the different types of things that go into determining the price you pay for auto insurance. When you know what positively or negatively influences your rates, this enables you to make decisions that can earn you much lower annual insurance costs. Many different elements are part of the equation when you get a price on insurance. Some of the criteria are obvious such as traffic violations, but other factors are more transparent such as your marital status or your financial responsibility.

Shown below are some of the major factors auto insurance companies consider when setting your rate level.

How much liability insurance - A critical coverage on your policy, liability insurance kicks in if ever you are found to be at fault for physical damage or personal injury to other. Liability insurance provides legal defense coverage starting from day one. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so do not cut corners here.

You may save more by bundling policies - Most larger insurers afford better rates for people who carry more than one policy. It's known as a multi-policy discount. This can amount to ten percent or more. Even if you already get this discount, you may still want to compare Honda Insight rates in Newark to ensure the best deal.

Older drivers save more - Youthful drivers in New Jersey are statistically shown to be less responsible when behind the wheel and because of this, their auto insurance rates are much higher. Older drivers are shown to be more cautious, are lower risk to insure, and receive fewer citations.

The next chart is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.

Gender and insurance - Statistics demonstrate that females tend to be a little less risky than males. This data doesn't prove that men are WORSE drivers than women. Men and women tend to get into accidents at a similar rate, but males tend to have more serious accidents. Not only are claims higher, but men get ticketed for serious violations like reckless driving and DUI.

The diagram below shows the comparison of Honda Insight car insurance costs for male and female drivers. The information is based on no claims or violations, comprehensive and collision coverage, $100 deductibles, drivers are not married, and no other discounts are factored in.

Policy add-ons add up - Policies have additional coverages that may not really be needed when buying auto insurance. Add-on coverages like roadside assistance, death and dismemberment, and term life insurance may be costing you every month. They may seem good when deciding what coverages you need, but your needs may have changed so remove them and pocket the money.

Buying auto insurance from Newark car insurance agents

Some consumers just prefer to talk to a local agent and that is a personal choice. Experienced insurance agents can help you choose the best coverages and help you file claims. One of the best bonuses of getting online price quotes is you may find cheap rate quotes and still choose a local agent.

Find insurance agent in NewarkTo find an agent, once you fill out this simple form, your insurance data is emailed to local insurance agents in Newark that can give you free Newark car insurance quotes and help you find cheaper coverage. It's much easier because you don't need to find an agent on your own since price quotes are sent directly to your email. If you want to quote rates from a specific company, just jump over to their website and fill out their quote form.

Choosing the best provider is decision based upon more than just the price. The questions below may impact your decision as well.

  • If they are an independent agency in Newark, which companies do they recommend?
  • What is their Better Business Bureau rating?
  • Does the agency have a current Errors and Omissions policy?
  • How much experience to they have in personal lines coverages?
  • Do the agents have professional certifications like CPCU or CIC?

Shown below is a short list of auto insurance companies in Newark willing to provide rate quotes for Honda Insight insurance in Newark.

9 Frank E Rodgers Blvd S - Harrison, NJ 07029 - (973) 350-9999 - View Map

41 Wilson Ave - Newark, NJ 07105 - (973) 732-2105 - View Map

1111 Raymond Blvd - Newark, NJ 07102 - (973) 624-7200 - View Map

326 Bloomfield Ave - Newark, NJ 07107 - (973) 481-5300 - View Map

View more Newark agents

If you feel you receive acceptable answers to all your questions as well as offering an affordable quote, you may have just found an provider that meets your needs to adequately provide auto insurance. Just keep in mind you can always cancel a policy whenever you want so don't feel you are locked into any specific company indefinitely.

Why you need insurance for your vehicle

Despite the high insurance cost for a Honda Insight in Newark, insuring your vehicle serves several important purposes.

  • Most states have mandatory liability insurance requirements which means you are required to buy a specific level of liability in order to get the vehicle licensed. 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 Honda Insight with a loan, almost all lenders will have a requirement that you buy full coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the bank may buy a policy for your Honda at a much higher premium rate and force you to reimburse them for the much more expensive policy.
  • Insurance safeguards both your vehicle and your assets. It will also cover many types of medical costs for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you are sued as the result of an accident. If your car is damaged in a storm or accident, your car insurance policy will pay to have it repaired.

The benefits of buying enough insurance more than offset the price you pay, especially for larger claims. But the average American driver is wasting up to $869 every year so you should quote rates at least once a year to make sure the price is not too high.

Don't give up on cheaper coverage

When getting Newark car insurance quotes online, it's a bad idea to buy less coverage just to save a little money. There are many occasions where an insured cut physical damage coverage and found out when filing a claim they didn't purchase enough coverage. The proper strategy is to buy the best coverage you can find at the best possible price.

We just presented some good ideas how to find affordable Honda Insight insurance in Newark. The key concept to understand is the more price quotes you have, the higher the chance of saving money. Consumers may even find the lowest premium rates are with a small mutual company. Regional companies may often insure only within specific states and give better rates than the large multi-state companies such as Progressive or GEICO.

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