It’s safe to conclude that car insurance companies don’t want you comparing rates. People who shop around once a year are inclined to buy a new policy because there is a high probability of finding coverage at a cheaper rate. A survey found that drivers who compared rates regularly saved an average of $3,400 over four years compared to drivers who never shopped around.
If finding the lowest price on insurance in Newark is the reason you’re here, then knowing the best way to shop and compare insurance rates can help make the process easier.
To save the most money, the best way to find better pricing on car insurance rates is to compare prices at least once a year from insurance carriers that insure vehicles in Newark. This can be done by following these guidelines.
- Try to understand how car insurance works and the factors you can control to keep rates low. Many rating factors that result in higher rates such as tickets, at-fault accidents, and a lousy credit rating can be amended by making small lifestyle or driving habit changes. This article gives more details to help find cheaper rates and find discounts that may have been missed.
- Request rate estimates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only provide price estimates from one company like GEICO and Allstate, while independent agencies can quote rates for many different companies.
- Compare the new rates to your existing policy and determine if cheaper Spark coverage is available. If you can save some money and change companies, make sure there is no lapse in coverage.
- Notify your agent or company of your intention to cancel the current policy and submit payment and a completed application to your new company or agent. Once the paperwork is finalized, store the certificate verifying proof of insurance with your registration paperwork.
One thing to point out is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on each price quote and and to get price quotes from all possible companies. This guarantees an apples-to-apples comparison and a complete selection of prices.
The best way to compare rates for Chevy Spark insurance in Newark is to take advantage of the fact most insurance companies participate in online systems to provide you with a free rate quote. To get started, all you need to do is give the companies some data such as if a SR-22 is required, if it has an anti-theft system, what your job is, and how much you drive. The data is automatically sent to multiple companies and they return quotes with very little delay.
If you would like to start a quote now, click here and complete the quick form.
The auto insurance companies shown below are our best choices to provide comparison quotes in New Jersey. To get the best car insurance in Newark, NJ, we recommend you get rate quotes from several of them to find the most affordable auto insurance rates.
Here’s why insurance is not optional
Despite the fact that insurance is not cheap in Newark, buying insurance is required in New Jersey but also provides important benefits.
- Almost all states have mandatory insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability insurance coverage in order to drive the car. 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 Chevy Spark with a loan, almost every bank will make it a condition of the loan that you have physical damage coverage to ensure loan repayment if the vehicle is totaled. If you do not keep the policy in force, the bank may insure your Chevy at an extremely high rate and make you pay much more than you were paying before.
- Insurance preserves both your assets and your Chevy Spark. It will also cover all forms of medical expenses for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance also pays for attorney fees and expenses in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of insuring your car greatly outweigh the cost, especially if you ever need it. In a recent study of 1,000 drivers, the average customer is overpaying over $800 each year so it’s very important to do a rate comparison each time the policy renews to ensure rates are inline.
Six Things That Influence Your Insurance Costs
Many factors are considered when you quote your car insurance policy. Some factors are common sense such as traffic violations, but some are not as apparent such as your marital status or your commute time. An important part of buying insurance is that you know a few of the rating criteria that come into play when calculating insurance rates. If you know what controls the rates you pay, this enables informed choices that may result in cheaper rates.
Shown below are some of the major factors companies use to determine your rate level.
More miles equals more premium – The more you drive each year the more it will cost to insure it. Many insurance companies price each vehicle’s coverage determined by how the vehicle is used. Cars that sit idle most of the time cost less to insure than cars that get driven a lot. An incorrectly rated Spark is just wasting money. Ask your agent if your insurance policy correctly shows the correct usage.
Older drivers pay less – Young drivers in New Jersey are statistically shown to be inattentive when behind the wheel so insurance rates are higher. If you’ve ever had to add a teenage driver onto a policy can really hurt. Older, more experienced drivers are proven to be safer behind the wheel, statistically cause fewer accidents, and are generally more financially stable.
High deductibles equal low rates – Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your Chevy. Some coverage claims would be a windshield shattered by a rock, flood damage, and damage from a fallen tree branch. Comp and collision deductibles tell how much you are required to spend before your insurance pays a claim. The larger the amount you are required to pay out-of-pocket, the less money you will pay for insurance.
Don’t skimp on liability protection – The liability coverage on your policy provides coverage if you are found to be at fault for physical damage or personal injury to other. Your policy’s liability insurance provides legal defense up to the limits shown on your policy. Liability insurance is pretty cheap compared to other policy coverages, so do not cut corners here.
Multiple policies with one company – Lots of companies provide discounts to people who have multiple policies with them such as combining an auto and homeowners policy. Discounts can amount to ten or even fifteen percent. Even if you qualify for this discount already, you still need to comparison shop to make sure you are getting the best deal. Consumers may save even more than the discount by buying from different companies
Single vs. married – Your spouse actually saves money when shopping for insurance. It demonstrates that you tend to be more financially stable and it’s proven that being married results in fewer claims.
Which car insurance company is best in Newark?
Choosing a highly-rated car insurance company is difficult considering how many companies sell coverage in New Jersey. The information listed below can help you pick which providers you want to consider purchasing from.
Top 10 Newark Car Insurance Companies Ranked by Claims Service
- Progressive
- USAA
- Liberty Mutual
- GEICO
- State Farm
- Nationwide
- Allstate
- 21st Century
- The Hartford
- Farmers Insurance
Top 10 Newark Car Insurance Companies Overall
- Mercury Insurance
- The Hartford
- Progressive
- Travelers
- State Farm
- Farmers Insurance
- Safeco Insurance
- USAA
- GEICO
- 21st Century
Quote more to save more
When shopping online for car insurance, don’t be tempted to buy poor coverage just to save money. In many instances, someone sacrificed liability coverage limits and learned later that their decision to reduce coverage ended up costing them more. The proper strategy is to buy the best coverage you can find for the lowest cost, not the least amount of coverage.
There are still a few companies who do not provide online price quotes and usually these regional carriers sell through local independent agents. Budget-conscious Chevy Spark insurance can be bought both online in addition to local insurance agencies, and you need to comparison shop both to have the best rate selection.
More information is available on the following sites:
- Safety Tips for Teen Drivers (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance for a 20 Year Old Female in Newark? (FAQ)
- Who Has the Cheapest Car Insurance for Young Drivers in Newark? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Drivers Requiring a SR22 in Newark? (FAQ)
- Who Has Cheap Auto Insurance Rates for Homeowners in Newark? (FAQ)
- Distracted Driving Statistics (Insurance Information Institute)
- Crash Avoidance Technologies FAQ (iihs.org)
- Coverage Information (Progressive Insurance)