The most effective way to find low-cost auto insurance rates in Newark is to make a habit of regularly comparing prices from providers that sell auto insurance in New Jersey. Rate comparisons can be done by following these steps.
- First, learn about policy coverages and the modifications you can make to prevent expensive coverage. Many things that are responsible for high rates like at-fault accidents and an imperfect credit score can be amended by being financially responsible and driving safely. Continue reading for more details to find cheap rates and get additional discounts.
- Second, compare price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only provide price estimates from one company like Progressive or Allstate, while agents who are independent can provide prices for a wide range of insurance providers.
- Third, compare the new rates to your current policy and see if there is a cheaper rate in Newark. If you can save some money and change companies, make sure there is no coverage gap between policies.
One tip to remember is to try to compare the same liability limits and deductibles on each quote request and and to get prices from as many different companies as possible. Doing this helps ensure a level playing field and the most accurate and complete price analysis.
It’s well known that insurance companies don’t want policyholders to compare prices from other companies. Drivers who get comparison quotes once a year will most likely switch car insurance companies because there are good odds of finding discount prices. A survey found that people who regularly compared price quotes saved over $865 annually compared to drivers who didn’t regularly shop around.
If saving money on Volvo XC60 insurance is your ultimate goal, then knowing how to shop and compare insurance coverage can make it easier to shop your coverage around.
If you are insured now, you will be able to find the best rates using the ideas you’re about to read. Finding affordable coverage in Newark can be easy if you know a few tricks. Nevertheless, New Jersey car owners must understand the methods companies use to determine premium rates and use it to your advantage.
When looking for affordable Volvo XC60 insurance quotes, there are a couple ways to compare quotes from local Newark insurance companies. The recommended way to do a complete rate comparison is to jump online and get quotes.
Doing price comparisons online is so simple that it takes the place of having to actually drive to insurance agents’ offices. The fact that you can get quotes online reduces the need to sit down with an agent unless you prefer the professional advice of an agent trained in personal lines coverage. However, consumers can obtain prices from the web but buy the policy through an agent. Just remember that comparing more rates from different companies will increase your chances of finding a lower rate.
The companies shown below are our best choices to provide price comparisons in New Jersey. If multiple companies are listed, we suggest you get prices from several of them to get a more complete price comparison.
Discounts can help lower rates on Volvo XC60 insurance in Newark
Auto insurance is not cheap nor is it fun to buy but you might already qualify for some discounts that you may not even be aware of. Larger premium reductions will be automatically applied when you get a quote, but a few must be asked for prior to getting the savings. If you’re not getting every credit you qualify for, you may be paying too high a price.
- Active Service Discounts – Having a family member in the military may qualify for rate reductions.
- Accident Forgiveness Coverage – Not really a discount, but some companies like Progressive, State Farm and GEICO may permit one accident before your rates go up so long as you are claim-free prior to being involved in the accident.
- Telematics Devices – Policyholders that allow driving data submission to analyze driving patterns through the use of a telematics system such as Progressive’s Snapshot might get better premium rates if their driving habits are good.
- Multi-car Discount – Insuring more than one vehicle on one policy qualifies for this discount.
- Drive Less and Save – Low mileage vehicles could qualify for slightly better auto insurance rates than normal.
- Discount for Good Grades – This discount can be rewarded with saving of up to 25%. The discount lasts well after school through age 25.
- Air Bag Discount – Vehicles with factory air bags or automatic seat belts may earn rate discounts as much as 30%.
- College Student – Any of your kids who attend college more than 100 miles from Newark and do not have access to a covered vehicle can receive lower rates.
A little disclaimer on discounts, most discounts do not apply to the entire cost. Some only reduce the cost of specific coverages such as liability, collision or medical payments. So when it seems like adding up those discounts means a free policy, company stockholders wouldn’t be very happy. Any qualifying discounts will bring down your overall bill.
The diagram below compares Volvo XC60 annual premium costs with and without discounts applied to the policy premium. The premiums are based on a male driver, no claims or violations, New Jersey state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, marriage, claim-free, multi-policy, and multi-car discounts applied.
Companies who may offer some of the above discounts include:
When getting free Newark auto insurance quotes, it’s a good idea to every prospective company which discounts they offer. Some of the earlier mentioned discounts may not apply to policies in Newark. To find insurers with the best Volvo XC60 insurance discounts in New Jersey, click here.
Premium rates and analysis
The price information displayed next outlines different policy rates for Volvo XC60 models. Being more informed about how policy rates are figured can help guide drivers when making informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC60 3.2 2WD | $320 | $644 | $462 | $28 | $138 | $1,592 | $133 |
| XC60 3.2 AWD | $360 | $644 | $462 | $28 | $138 | $1,632 | $136 |
| XC60 T6 AWD AWD | $360 | $760 | $462 | $28 | $138 | $1,748 | $146 |
| XC60 T6-R AWD AWD | $402 | $760 | $462 | $28 | $138 | $1,790 | $149 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, safe-driver, and multi-policy. Rate information does not factor in zip code location which can decrease or increase insurance rates considerably.
Higher deductibles save money
When shopping for insurance, a common question is which comprehensive and collision deductibles to buy. The following tables approximate the differences in price between low and high insurance deductibles. The first rate quote example uses a $100 deductible for physical damage and the second data table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC60 3.2 2WD | $414 | $746 | $408 | $24 | $122 | $1,739 | $145 |
| XC60 3.2 AWD | $466 | $746 | $408 | $24 | $122 | $1,791 | $149 |
| XC60 T6 AWD AWD | $466 | $880 | $408 | $24 | $122 | $1,925 | $160 |
| XC60 T6-R AWD AWD | $520 | $880 | $408 | $24 | $122 | $1,979 | $165 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XC60 3.2 2WD | $302 | $504 | $408 | $24 | $122 | $1,360 | $113 |
| XC60 3.2 AWD | $340 | $504 | $408 | $24 | $122 | $1,398 | $117 |
| XC60 T6 AWD AWD | $340 | $594 | $408 | $24 | $122 | $1,488 | $124 |
| XC60 T6-R AWD AWD | $380 | $594 | $408 | $24 | $122 | $1,528 | $127 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Premium costs do not factor in zip code location which can change price quotes considerably.
Based on the figures above, using a $100 deductible costs an average of $35 more each month or $420 each year than selecting the higher $500 deductible. Due to the fact that you would have to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you tend to go at a minimum 11 months between claims, you would save more money by going with a higher deductible.
Gender differences in insurance premiums
The example below shows the comparison of Volvo XC60 yearly insurance costs for male and female drivers. The premiums are based on no tickets, no at-fault accidents, comprehensive and collision coverage, $100 deductibles, marital status is single, and no discounts are taken into consideration.
Full coverage versus liability-only
The diagram below shows the comparison of Volvo XC60 insurance rates with and without physical damage coverage. The rate quotes are based on no claims or driving citations, $250 deductibles, drivers are single, and no discounts are applied.
Are you wasting money on full coverage?
There is no definitive guideline of when to drop comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is more than around 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
For example, let’s say your Volvo XC60 book value is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $2,000 after paying your policy deductible. If it’s costing in excess of $200 annually to have full coverage, then you might consider buying liability only.
There are some cases where buying only liability insurance is not advised. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should keep full coverage.
Should I contact a local insurance agent?
Some consumers still prefer to go talk to an agent and there is nothing wrong with that. The biggest benefit of getting free rate quotes online is the fact that you can find the lowest rates and still buy from a local agent. And supporting neighborhood insurance agencies is still important in Newark.
By using this quick form, your insurance coverage information is transmitted to insurance agents in Newark who can give free rate quotes for your business. It makes it easy because there is no need to contact any insurance agencies since rate quotes are delivered to you. It’s the lowest rates and work with a local agent. In the event you want to quote rates from a specific insurance company, just visit that company’s website and submit a quote form there.
Not all car insurance agents are the same
If you are wanting to find a reliable insurance agency, you need to know there are two types of insurance agents and how they can service your needs differently. Newark agents can either be independent (non-exclusive) or exclusive.
Independent Agents
These type of agents can quote rates with many companies and that gives them the ability to insure amongst many companies and find you the best rates. To transfer your coverage to a different company, the business is moved internally and you don’t have to find a new agent. When comparing rates, we recommend you compare quotes from independent agents for maximum quote selection.
Shown below is a short list of independent agencies in Newark who can help you get free auto insurance rate quotes.
N J Insurance Underwriting
744 Broad St # 1100 – Newark, NJ 07102 – (973) 622-3838 – View Map
Halsey Street Agency Inc
199 Halsey St – Newark, NJ 07102 – (973) 621-0955 – View Map
Collection Agency BandA
744 Broad St #1903 – Newark, NJ 07102 – (862) 218-0319 – View Map
Exclusive Insurance Agents
Agents in the exclusive channel can only place business with one company such as State Farm, AAA, and Liberty Mutual. They are unable to compare other company’s rates so keep that in mind. Exclusive insurance agents are well schooled on their products and sales techniques which aids in selling service over price.
The following are exclusive agencies in Newark willing to provide comparison quotes.
Farmers Insurance – Anthony Pugliese
41 Wilson Ave – Newark, NJ 07105 – (973) 732-2105 – View Map
State Farm: Zanetta Glover
570 Broad St #114 – Newark, NJ 07102 – (973) 648-0699 – View Map
State Farm: Greg Daniels
681 1/2 Mt Prospect Ave – Newark, NJ 07104 – (973) 484-5772 – View Map
Picking an car insurance agent should include more criteria than just the bottom line cost. These questions are important to ask:
- Is the agent and/or agency licensed to do business in New Jersey?
- Are they involved in claim handling?
- How many years of experience in personal auto insurance do they have?
- Does their agency support local causes in Newark?
- Will a damage claim use OEM or aftermarket replacement parts?
Five Tips to Get Lower-cost Newark Insurance Premiums
Many different elements are used in the calculation when you get a price on insurance. Most are fairly basic such as your driving record, although others are more transparent such as whether you are married or how financially stable you are.
Listed below are a few of the “ingredients” utilized by car insurance companies to help set premiums.
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Cautious drivers pay lower rates – Your driving record has a huge affect on how much you pay. Careful drivers receive lower rates compared to drivers with tickets. Having just one ticket can bump up the cost by twenty percent. Drivers who have serious citations such as DUI, reckless driving or excessive speeding are required to submit a SR-22 form with their state’s department of motor vehicles in order to prevent their license from being revoked.
The information below illustrates how violations and at-fault fender-benders can increase Volvo XC60 car insurance costs for each different age category. The premium estimates are based on a single female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.
- Save money by having high credit – Your credit score can be an important factor in calculating your premium rate. Drivers who have excellent credit scores tend to be less risk to insure than those with poor credit scores. So if your credit score can be improved, you could pay less to insure your Volvo XC60 by repairing your credit.
- Theft deterrents lowers rates – Selecting a car model with anti-theft technology or alarm system can help bring down rates. Theft prevention devices like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all aid in stopping auto theft and help lower rates.
- Having a spouse is a good thing – Having a spouse may earn you lower rates when shopping for auto insurance. Marriage means you’re more mature and responsible and insurance companies like that married drivers tend to file fewer claims.
- Eliminate extra coverages – There are many extra add-on coverages that can waste your money if you aren’t diligent. Things like vanishing deductibles, towing, and extra equipment coverage could be just wasting money. You may think they are a good idea when buying your policy, but if you don’t need them remove them and pocket the money.
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Volvo XC60 insurance loss data – Insurers analyze claim trends for every vehicle in order to profitably underwrite each model. Vehicles that the data shows to have higher loss trends will have a higher premium rate.
The table below outlines the compiled insurance loss statistics for Volvo XC60 vehicles. For each coverage type, the loss probability for all vehicles compiled together is represented as 100. Percentage values below 100 suggest a positive loss record, while values over 100 show a trend for more claims or an increased probability of a larger loss.
Auto Insurance Loss Data for Volvo XC60 Models Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Volvo XC60 4dr 2WD 79 74 70 60 53 55 Volvo XC60 4dr 4WD 93 82 75 66 64 57 BETTERAVERAGEWORSEData Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Why insurance is not optional
Even though it’s not necessarily cheap to insure a Volvo in Newark, insuring your vehicle serves several important purposes.
- Almost all states have minimum liability requirements which means you are required to carry specific limits of liability in order to drive the car legally. 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 your vehicle has a loan, most lenders will make it a condition of the loan that you buy full coverage to protect their interest in the vehicle. If you do not keep the policy in force, the lender may have to buy a policy to insure your Volvo at a much higher premium rate and make you pay for it.
- Insurance protects your Volvo XC60 and your assets. Insurance will also pay for many types of medical costs that are the result of an accident. One of the most valuable coverages, liability insurance, also covers all legal expenses up to the policy limit if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of insuring your car outweigh the cost, particularly for liability claims. The average driver in New Jersey overpays as much as $855 a year so smart consumers compare quotes at least once a year to help ensure money is not being wasted.
How to find a good New Jersey car insurance company
Buying coverage from the right car insurance company can be challenging considering how many companies provide coverage in Newark. The ranking information shown next could help you pick which providers to look at when shopping around.
Top 10 Newark Car Insurance Companies Overall
- Mercury Insurance
- The Hartford
- Progressive
- Travelers
- State Farm
- Farmers Insurance
- Safeco Insurance
- USAA
- GEICO
- 21st Century
Lower rates by being persistent
As you restructure your insurance plan, you should never skimp on coverage in order to save money. There have been many situations where an insured cut liability coverage limits and learned later that it was a big mistake. The aim is to purchase a proper amount of coverage for the lowest price and still be able to protect your assets.
Lower-priced Volvo XC60 insurance in Newark can be bought from both online companies and with local Newark insurance agents, so you should be comparing quotes from both to have the best rate selection. Some insurance companies may not have rates over the internet and these regional carriers provide coverage only through local independent agents.
More learning opportunities
- Parking Tips to Reduce Door Dings (State Farm)
- Who Has the Cheapest Auto Insurance Rates for a Learners Permit in Newark? (FAQ)
- How Much is Auto Insurance for a Honda CR-V in Newark? (FAQ)
- What Auto Insurance is Cheapest for Drivers with a DUI in Newark? (FAQ)
- Who Has Cheap Auto Insurance Rates for Homeowners in Newark? (FAQ)
- A Tree Fell on Your Car: Now What? (Allstate)
- Event Data Recorders FAQ (iihs.org)