No car owner enjoys paying for auto insurance, especially when they are aware that they could find better rates elsewhere.
Surprisingly, a recent survey revealed that most drivers in New Jersey kept buying from the same company for a minimum of four years, and almost 40% of drivers have never quoted rates to find lower-cost coverage. Most drivers in America could save $860 a year by just shopping around, but they just don't understand how easy it is to compare rates online.
How to find cheaper Hyundai Santa Fe insurance in Newark
If saving the most money is your goal, then the best way to save money on auto insurance rates in Newark is to compare prices at least once a year from different companies who provide auto insurance in New Jersey. You can compare prices by following these guidelines.
- Try to learn about the different coverages in a policy and the steps you can take to prevent expensive coverage. Many policy risk factors that result in higher rates like your driving record and a substandard credit score can be eliminated by improving your driving habits or financial responsibility.
- Compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like GEICO and Allstate, while agents who are independent can quote rates for many different companies. View insurance agents
- Compare the new rate quotes to your existing coverage and see if there is a cheaper rate in Newark. If you find a lower rate quote and make a switch, ensure there is no coverage lapse between policies.
An important bit of advice to remember is that you'll want to make sure you compare identical limits and deductibles on every quote and to quote with as many different insurance providers as possible. This enables a fair price comparison and a complete rate analysis.
Insurance companies such as GEICO and Progressive constantly bombard you with fancy advertisements and it can be hard to see through the cute green geckos and mayhem and effectively compare rates to find the best deal.
Consumers need to compare premium rates occasionally because insurance rates are usually higher with each renewal. Just because you found the lowest premium rates on Hyundai Santa Fe insurance in Newark at your last renewal you can probably find a better price now. Forget all the misinformation about auto insurance because I'm going to let you in on the secrets to the quickest way to properly buy coverages while reducing your premium.
Insurance Cost Influencing Factors
The best way to find cheaper car insurance is to take a look at some of the elements that go into determining car insurance rates. If you have some idea of what controls the rates you pay, this empowers consumers to make smart changes that may result in much lower annual insurance costs. Lots of factors are used when you get a price on insurance. Some are pretty understandable like a motor vehicle report, but others are less obvious like your vehicle usage or your commute time.
More performance means more cost - The performance of the car you are buying insurance for makes a big difference in how high your rates are. The most favorable rates are generally reserved for small economy passenger cars, but your final cost has many other factors.
The next chart assumes a married female driver age 20, full coverage with $500 deductibles, and no discounts or violations. The data compares Hyundai Santa Fe insurance rates compared to other models that have different performance rating factors.
- Certain jobs pay higher rates - Did you know your career choice can influence rates? Careers such as real estate brokers, police officers, and miners have higher premium rates due to intense work-related stress and lengthy work days. On the other hand, occupations like actors, engineers and homemakers generally pay rates lower than average.
- Cheaper rates by bundling - The majority of insurance companies will give a discount to people who consolidate policies with them. It's known as a multi-policy discount. The amount of the discounts can be ten percent or more. If you currently are using one company, it's in your best interest to check prices from other companies to help guarantee you have the best rates. Drivers may still find a better deal by buying from different companies
- Too many policy claims and you'll pay more - Insurance companies in New Jersey generally give discounts to insureds who do not rely on their insurance for small claims. If you file a lot of claims you can expect higher premiums or even policy non-renewal. Auto insurance is designed for claims that you cannot pay yourself.
- Vehicle theft costs us all - Selecting a car model that has an advanced theft prevention system can help lower your rates. Theft prevention devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent car theft and help bring rates down.
- High credit score translates to low premiums - Your credit history factor in determining what you pay. If your credit rating is low, you could potentially save money when insuring your Hyundai Santa Fe by taking the time to improve your credit score. People with high credit scores tend to file fewer claims as compared to drivers with lower credit ratings.
Hyundai Santa Fe insurance loss data - Insurers analyze claim trends for every vehicle when setting premium rates. Models that historically have increased losses will have a higher cost to insure.
The next table shows the insurance loss data for Hyundai Santa Fe vehicles. For each coverage category, the claim amount for all vehicles, without regard to make or model, is equal to 100. Numbers shown that are under 100 indicate better than average losses, while numbers above 100 show a trend for more claims or an increased chance of larger losses than average.
Hyundai Santa Fe Insurance Loss Statistics Specific Hyundai Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Hyundai Santa Fe 4dr 2WD 91 94 82 86 92 91 Hyundai Santa Fe 4dr 4WD 109 115 97 96 84 94 Hyundai Santa Fe Sport 4dr 2WD 88 90 93 90 89 93 Hyundai Santa Fe Sport 4dr 4WD 95 91 110 90 96 84BETTERAVERAGEWORSE
Statistics from IIHS.org for 2013-2015 Model Years
Getting a cheaper price on insurance is a great way to save money. Drivers just need to spend a few minutes comparing free Newark auto insurance quotes to find out which insurance company has inexpensive Newark auto insurance quotes.
Comparing price quotes online is fast and free, and it replaces the need to waste gas driving to all the different insurance agencies. Buying insurance online can eliminate the need for a local agent unless you prefer the professional advice of an agent trained in personal lines coverage. Some companies do allow you to obtain prices from the web but purchase the actual policy in an agency.
The companies shown below are ready to provide quotes in New Jersey. To get cheap car insurance in New Jersey, it's highly recommended you get prices from several of them to get the most competitive price.
Insurance coverage analysis
The coverage information displayed below outlines estimates of insurance premium costs for Hyundai Santa Fe models. Having knowledge of how insurance quotes are established is important to be able to make smart choices when comparing insurance rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Santa Fe GLS 2WD||$278||$620||$452||$26||$136||$1,512||$126|
|Santa Fe GLS 4WD||$318||$620||$452||$26||$136||$1,552||$129|
|Santa Fe SE 2WD||$318||$620||$452||$26||$136||$1,552||$129|
|Santa Fe Limited 2WD||$318||$730||$452||$26||$136||$1,662||$139|
|Santa Fe SE 4WD||$318||$730||$452||$26||$136||$1,662||$139|
|Santa Fe Limited 4WD||$360||$730||$452||$26||$136||$1,704||$142|
|Get Your Own Custom Quote Go|
Prices above 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, multi-policy, safe-driver, and claim-free. Price estimates do not factor in specific location which can alter premiums noticeably.
Should you buy full coverage?
The information below shows the comparison of Hyundai Santa Fe insurance costs when comparing full coverage to liability only. The data assumes a clean driving record, no at-fault accidents, $250 deductibles, drivers are single, and no other discounts are factored in.
When to drop comprehensive and collision
There isn't a steadfast formula to eliminate comp and collision coverage, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
For example, let's say your Hyundai Santa Fe claim settlement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $5,000 after paying your deductible. If it's costing in excess of $500 a year for physical damage coverage, then you may need to consider dropping full coverage.
There are some cases where eliminating full coverage is not recommended. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should not remove full coverage.
Best reasons to buy car insurance in New Jersey
Even though it can be expensive, insurance is required in New Jersey but also provides important benefits.
- Almost all states have mandatory insurance requirements which means you are required to carry a specific level of liability insurance coverage if you drive a 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 took out a loan on your vehicle, almost every bank will force you to have insurance to ensure loan repayment if the vehicle is totaled. If you do not keep the policy in force, the bank or lender will purchase a policy for your Hyundai at a much higher premium rate and force you to reimburse them the higher price.
- Insurance protects both your assets and your car. It will also pay for many types of medical costs incurred in an accident. Liability insurance also covers legal expenses if you are named as a defendant in an auto accident. If your Hyundai gets damaged, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage minus the deductible amount.
The benefits of insuring your car definitely exceed the cost, especially for larger claims. According to a survey of 1,000 drivers, the average driver is wasting up to $855 a year so shop around at every renewal to ensure rates are competitive.
Determine discounts to get cheap Newark insurance quotes
Car insurance is not cheap, but you might be missing out on some discounts to reduce the price significantly. Some discounts apply automatically when you complete an application, but some need to be asked about prior to receiving the credit.
- Federal Employees - Employees or retirees of the government may reduce rates when you quote Newark auto insurance but check with your company.
- Driver Education Discount - Have your child complete a driver education course as it will make them better drivers and lower rates.
- Paper-free Discount - A handful of insurance companies give back up to $50 for completing your application online.
- Accident Forgiveness - This one isn't a discount, but some insurance companies will turn a blind eye to one accident before hitting you with a surcharge if your claims history is clear for a specific time period.
- Home Ownership Discount - Owning your own home or condo can save a few bucks because owning a home requires a higher level of personal finance.
- Discount for New Cars - Buying insurance coverage on a new vehicle can save up to 30% because newer vehicles keep occupants safer.
- Defensive Driver - Taking a driver safety course could cut 5% off your bill and also improve your driving technique.
- Clubs and Organizations - Affiliation with a qualifying organization could qualify you for a break on insurance.
Don't be surprised that some credits don't apply to all coverage premiums. Most only apply to the price of certain insurance coverages like medical payments or collision. Even though the math looks like all those discounts means the company will pay you, nobody gets a free ride.
The example below visualizes the comparison of Hyundai Santa Fe car insurance costs with and without discounts applied to the policy premium. The prices are based on a female driver, no accidents, no driving violations, New Jersey state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, multi-policy, safe-driver, multi-car, and homeowner discounts applied.
Popular insurance companies and their possible discounts are detailed below.
- State Farm discounts include passive restraint, accident-free, multiple policy, student away at school, defensive driving training, good driver, and driver's education.
- Esurance offers discounts for renters, online quote, online shopper, multi-car, Pac-12 alumni, DriveSense, and Switch & Save.
- Progressive has discounts for multi-policy, online signing, multi-vehicle, online quote discount, and homeowner.
- Liberty Mutual may offer discounts for multi-policy, safety features, newly married, multi-car, preferred payment discount, and new graduate.
- Auto-Owners Insurance offers discounts including teen driver, multiple vehicles, multi-policy, group or association, and student away at school.
- GEICO includes discounts for daytime running lights, emergency military deployment, air bags, multi-policy, membership and employees, defensive driver, and anti-lock brakes.
When comparing rates, check with every insurance company which discounts you qualify for. A few discounts might not be offered in your area.
Compare rates but buy from a local Newark insurance agency
Some people still like to buy from a local agent and that is a smart decision Experienced insurance agents can point out coverage gaps and give you someone to call. The biggest benefit of comparing rate quotes online is the fact that you can find cheap car insurance rates and still choose a local agent. Buying from and supporting neighborhood insurance agencies is still important in Newark.
To make it easy to find an agent, after completing this simple form, the coverage information is sent to companies in Newark who will give you quotes to get your business. You don't have to visit any agencies because quoted prices will be sent directly to your email. In the event you want to compare rates from a particular provider, you would need to find their quoting web page and submit a quote form there.
If you are wanting to find a local Newark insurance agency, there are two different agency structures and how they can quote your rates. Car insurance policy providers are categorized either exclusive or independent (non-exclusive). Either one can properly insure your vehicles, but it's good to learn why they differ since it can affect the selection process.
Independent Car Insurance Agencies
Agents that choose to be independent are not limited to a single company and that enables them to quote your coverage with an assortment of companies and find the cheapest car insurance rates. If you are not satisfied with one company, the agent simply finds a different carrier which requires no work on your part.
If you need cheaper car insurance rates, you definitely need to include price quotes from several independent insurance agents for maximum quote selection.
Below are Newark independent agents who can help you get cheap rate quotes.
Preferred Choice Insurance Agency
225 Newark Ave - Jersey City, NJ 07302 - (201) 616-7644 - View Map
Exclusive Car Insurance Agencies
These type of agents generally can only insure with one company and some examples include State Farm, AAA, and Liberty Mutual. Exclusive agents cannot provide prices from multiple companies so it's a take it or leave it situation. Exclusive agencies are well trained on what they offer which helps them sell on service rather than price.
The following is a list of exclusive insurance agencies in Newark that can give you comparison quotes.
Deciding on a insurance agency needs to be determined by more than just a cheap quote. Get answers to these questions too.
- Can you use your own choice of collision repair facility?
- Do they reduce claim amounts on high mileage vehicles?
- Has the agent ever had any license suspensions?
- Is the agency active in community causes in Newark?
- How does the company pay claims for a total loss?
- How experienced are they in personal risk management?
- If you have an accident, will your rates go up?
Tailor your insurance coverage to you
When buying the best insurance coverage, there isn't really a single plan that fits everyone. Every insured's situation is different.
These are some specific questions could help you determine whether you could use an agent's help.
- Do I have coverage if my license is suspended?
- What does medical payments coverage do?
- Should I waive the damage coverage when renting a car?
- Should I have a commercial auto policy?
- Why am I required to get a high-risk car insurance policy?
- How much will a speeding ticket raise my rates?
- Can I rent a car in Mexico?
- Should I buy additional glass protection?
If you can't answer these questions, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form. It's fast, doesn't cost anything and you can get the answers you need.
Don't give up on cheap coverage
A few companies may not have online quoting and most of the time these small insurance companies work with local independent agents. Affordable Hyundai Santa Fe insurance in Newark is definitely available both online as well as from independent agents in Newark, so you should be comparing quotes from both to have the best chance of lowering rates.
While you're price shopping online, it's not a good idea to skimp on coverage in order to save money. Too many times, an insured cut liability coverage limits only to find out that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to find the BEST coverage at a price you can afford, but do not skimp to save money.
Drivers change insurance companies for many reasons like questionable increases in premium, delays in paying claims, an unsatisfactory settlement offer and poor customer service. No matter why you want to switch, choosing a new company can be pretty painless.
Steps to saving on Hyundai Santa Fe insurance in Newark
The best way to save money on car insurance rates in Newark is to regularly compare quotes from different companies in New Jersey.
- Spend some time learning about how companies price auto insurance and the things you can control to keep rates low. Many rating factors that are responsible for high rates such as traffic citations and poor credit can be controlled by making minor changes to your lifestyle.
- Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO and State Farm, while agents who are independent can provide prices from multiple companies.
- Compare the new rates to your current policy premium to determine if switching companies saves money. If you find a lower rate quote and switch companies, make sure there is no coverage gap between policies.
- Tell your current company of your decision to cancel your current auto insurance policy and submit a down payment and signed policy application to the new company. As soon as you receive it, keep your new certificate verifying coverage in a readily accessible location in your vehicle.
The key thing to know about shopping around is to compare the same physical damage deductibles and liability limits on every quote and and to compare as many companies as feasibly possible. Doing this helps ensure a fair rate comparison and a better comparison of the market.
More information is located on the following sites:
- Auto Insurance 101 (About.com)
- How Much is Newark Car Insurance for Business Use? (FAQ)
- Who Has Affordable Car Insurance for a Nissan Versa in Newark? (FAQ)
- What Auto Insurance is Cheapest for Inexperienced Drivers in Newark? (FAQ)
- How Much is Auto Insurance for a Toyota Tacoma in Newark? (FAQ)
- Who Has Cheap Newark Car Insurance for Real Estate Agents? (FAQ)
- What Insurance is Cheapest for Retired Military in Newark? (FAQ)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- How to Avoid Staged Accidents (State Farm)
- Insuring a Leased Car (Insurance Information Institute)
- Keeping Children Safe in Crashes Video (iihs.org)