It’s a fact that auto insurance companies don’t want you to compare rates. Consumers who shop around for cheaper rates are inclined to buy a new policy because of the high probability of finding coverage at a cheaper rate. A recent study showed that consumers who regularly shopped around saved over $3,500 over four years compared to those who never shopped around for lower prices.
If finding budget-friendly insurance is the reason you’re reading this, then understanding the best way to shop and compare coverages can make the process less intimidating.
To save the most money, the best way to get more affordable car insurance rates is to make a habit of regularly comparing prices from insurance carriers who sell insurance in Newark. Price quotes can be compared by following these guidelines.
Step 1: Spend a few minutes and learn about what coverages are included in your policy and the changes you can make to keep rates in check. Many things that increase rates such as distracted driving and poor credit rating can be eliminated by being financially responsible and driving safely. Keep reading for information to help reduce prices and get bigger discounts.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from one company like Progressive or State Farm, while independent agents can quote prices from multiple sources.
Step 3: Compare the price quotes to your existing coverage to see if switching to a new carrier will save money. If you find better rates and change companies, ensure there is no coverage lapse between policies.
One key aspect of rate comparisons is to make sure you’re comparing similar limits and deductibles on every quote and and to get prices from as many carriers as you can. Doing this helps ensure a level playing field and a complete price analysis.
If you are already insured or are looking for a new policy, you can use these techniques to get lower rates and still have adequate protection. Quoting and buying the lowest-priced protection in Newark is not as time-consuming as you think. Smart buyers just have to use the most efficient way to quote multiple rates instantly.
Companies offering Volkswagen Beetle insurance in New Jersey
The auto insurance companies shown below have been selected to offer price quotes in Newark, NJ. To locate cheap auto insurance in Newark, NJ, we suggest you visit several of them to find the cheapest auto insurance rates.
Car insurance data for a Volkswagen Beetle
The premium information shown next showcases a range of insurance costs for Volkswagen Beetle models. Understanding how premiums are established can help you make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Beetle S 2-Dr Hatchback | $228 | $394 | $536 | $32 | $160 | $1,350 | $113 |
| Beetle 2-Dr Convertible | $296 | $464 | $416 | $24 | $124 | $1,324 | $110 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Price information does not factor in zip code location which can change rates significantly.
Higher deductibles save money
The hardest decision when buying coverage is how high should the physical damage coverage deductibles be. The comparisons below lay out the price difference between low and high insurance deductibles. The first pricing table uses a $100 deductible for comprehensive and collision coverage and the second set of rates uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Beetle S 2-Dr Hatchback | $360 | $746 | $408 | $24 | $122 | $1,685 | $140 |
| Beetle 2-Dr Convertible | $466 | $880 | $318 | $18 | $94 | $1,801 | $150 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Beetle S 2-Dr Hatchback | $200 | $394 | $408 | $24 | $122 | $1,148 | $96 |
| Beetle 2-Dr Convertible | $258 | $464 | $318 | $18 | $94 | $1,152 | $96 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Rate quotes do not factor in specific location information which can affect coverage rates substantially.
We can derive from the above data that using a $100 deductible will cost in the ballpark of $49 more each month or $588 a year across all Volkswagen Beetle models than choosing the higher $1,000 deductible. Due to the fact that you would have to pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to go at a minimum 18 months between claims, you would probably be better off if you choose a higher deductible. Below is how this calculation is made.
| Average monthly premium for $100 deductibles: | $145 |
| Average monthly premium for $1,000 deductibles (subtract): | – $96 |
| 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 big caveat is that raising deductibles means you will have to pay more when you have a comprehensive or collision claim. That will force you to have access to more funds in the event you need to pay the deductible for vehicle repair.
Responsible drivers pay cheaper car insurance rates
The example below illustrates how violations and at-fault fender-benders drive up Volkswagen Beetle auto insurance costs for each different age category. The data assumes a married female driver, comprehensive and collision coverage, $500 deductibles, and no other discounts are factored in.
Volkswagen Beetle liability rates compared to full coverage
The information below compares Volkswagen Beetle premium costs with full coverage and liability only. The information is based on no claims or violations, $250 deductibles, drivers are single, and no discounts are taken into consideration.
When to eliminate full coverage
There is no definitive guideline for dropping physical damage insurance, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s say your Volkswagen Beetle book value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $3,000 after paying the physical damage deductible. If you are paying more than $300 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are some scenarios where removing full coverage is not a good idea. If you still owe a portion of the original loan, you must maintain physical damage coverage in order to keep the loan. 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 discounts
Insuring your fleet can be pricey, but you can get discounts that can drop the cost substantially. Most are applied at quote time, but some may not be applied and must be specially asked for prior to receiving the credit.
- Discount for Good Grades – This discount may save as much as 25% on a Newark auto insurance quote. The discount lasts up to age 25.
- Payment Method – By paying your policy upfront rather than paying in monthly installments you may reduce your total bill.
- Multiple Cars – Buying coverage for several vehicles with one company can reduce rates for all insured vehicles.
- Bundled Policy Discount – When you combine your auto and homeowners insurance with the same insurance company you may earn up to 20% off your total Beetle insurance premium.
- Drive Less and Save – Low annual miles could be rewarded with slightly better insurance rates than normal.
- Claim-Free Discount – Claim-free drivers have much lower rates compared to drivers who are more careless.
- Membership in Organizations – Having an affiliation with certain professional organizations could trigger savings on your policy.
- Drive Safe and Save – Drivers who avoid accidents can save as much as half off their rates compared to accident prone drivers.
As a disclaimer on discounts, most discount credits are not given to all coverage premiums. Some only apply to specific coverage prices like comprehensive or collision. Just because it seems like you could get a free insurance policy, insurance companies wouldn’t stay in business.
The illustration below shows the comparison of Volkswagen Beetle auto insurance rates with and without discounts applied to the policy rates. The data is based on a male driver, no claims, a clean driving record, New Jersey state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, multi-car, marriage, claim-free, and homeowner discounts applied.
The best insurance companies and some of the discounts are:
- State Farm offers premium reductions for anti-theft, Steer Clear safe driver discount, defensive driving training, multiple autos, and Drive Safe & Save.
- GEICO may offer discounts for seat belt use, daytime running lights, multi-vehicle, military active duty, and driver training.
- Progressive may have discounts that include continuous coverage, homeowner, multi-vehicle, online signing, good student, multi-policy, and online quote discount.
- 21st Century has savings for defensive driver, teen driver, anti-lock brakes, good student, driver training, student driver, and early bird.
- American Family has discounts for TimeAway discount, accident-free, good driver, good student, and defensive driver.
- The Hartford policyholders can earn discounts including air bag, defensive driver, driver training, vehicle fuel type, anti-theft, bundle, and good student.
- AAA offers discounts including multi-policy, good driver, anti-theft, pay-in-full, multi-car, good student, and AAA membership discount.
If you want low cost Newark auto insurance quotes, ask all companies you are considering what discounts are available to you. Discounts may not be offered everywhere. To locate insurance companies who offer insurance discounts in New Jersey, follow this link.
Good Decisions Result in Lower Insurance Costs
Many things are used in the calculation when quoting car insurance. Some factors are common sense such as your driving history, although others are less obvious like your vehicle usage or your financial responsibility.
The list below includes some of the factors used by companies to determine your rate level.
Do thieves like your car? – Choosing a vehicle with advanced anti-theft systems can get you a discount on your insurance. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping your vehicle from being stolen.
The type of car you drive affects your prices – The type of car, truck or SUV you need to insure makes a big difference in how high your rates are. Lower cost passenger cars receive the most favorable rates, but other factors influence the final cost greatly.
The chart below assumes a single female driver age 50, full coverage with $250 deductibles, and no discounts or violations. The chart compares Volkswagen Beetle policy rates compared to other models that have a range of performance risks.
Low physical damage deductibles can be expensive – Deductibles for physical damage tell how much you are required to spend if a claim is determined to be covered. Insurance for physical damage, aka comp and collision, covers damage that occurs to your car. Examples of some claims that would be covered are collision with another vehicle, hail damage, and damage caused by road hazards. The more you pay before a claim is paid (deductible), the lower your rates will be.
See if your company offers a multi-policy discount – Most major insurance companies provide lower prices to clients that purchase more than one policy in the form of a multi-policy discount. Even with this discount, it’s always a smart idea to shop around to guarantee you are still saving the most. You may still find better rates by buying insurance from more than one company.
Volkswagen Beetle insurance loss statistics – Companies analyze historical claim data to calculate a price that will offset any claims. Models that are shown to have higher prevalence or dollar amount of losses will cost more to insure.
The table shown below demonstrates the historical insurance loss data for Volkswagen Beetle vehicles. For each type of coverage, the claim amount for all vehicles combined as an average is equal to 100. Values that are under 100 suggest a better than average loss history, while numbers above 100 indicate frequent claims or an increased chance of larger losses than average.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Volkswagen Beetle | 101 | 93 | 101 | 85 | 95 | 101 |
| Volkswagen Beetle Convertible | 85 | 78 | 95 | 76 | 89 | 79 |
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When should I talk to an agent?
Many people just prefer to get advice from a local agent and often times that is recommended Good insurance agents are very good at helping people manage risk and help you file claims. An additional benefit of price shopping on the web is the fact that drivers can get cheap rate quotes and still buy from a local agent. And buying from local insurance agents is definitely important in Newark.
Once you complete this short form, the quote information is sent to agents in your area who can give free rate quotes to get your business. You won’t even need to leave your house because quoted prices will be sent to you instantly. If you need to get a price quote for a specific company, you can always visit that company’s website and submit a quote form there.
Choose an insurance agent wisely
If you are wanting to find a local Newark insurance agent, there are two types of insurance agents and how they are slightly different. Agents in Newark are considered either independent or exclusive. Either one can do a good job, but it is important to understand the subtle differences since it can affect buying decisions.
Independent Agents
Agents in the independent channel can quote rates with many companies and that is an advantage because they can write policies with many different companies depending on which coverage is best. If they find a cheaper price, your policy is moved internally and the insured can keep the same agent. If you are comparing rate quotes, you need to get some free quotes from several independent agencies to ensure the widest selection of prices. They also have the ability to place coverage with small mutual carriers that can offer cheaper rates than bigger companies.
Shown below is a partial list of independent insurance agents in Newark who may provide price quote information.
- George H Nixon Agency
54 Grumman Ave – Newark, NJ 07112 – (973) 923-3721 – View Map - Te Freuler
274 Chestnut St – Newark, NJ 07105 – (973) 274-0500 – View Map - Costa Do Sol Agency
650 Newark Ave – Elizabeth, NJ 07208 – (908) 352-3623 – View Map
Exclusive Auto Insurance Agencies
Agents that elect to be exclusive are contracted to one company such as Allstate, AAA, Farmers Insurance, and State Farm. Exclusive agents cannot provide rate quotes from other companies so it’s a take it or leave it situation. These agents are well trained on their company’s products which helps them sell insurance even at higher premiums. Drivers often buy from exclusive agents partially due to high brand loyalty and solid financial strength.
Shown below are exclusive agents in Newark willing to provide price quote information.
- Farmers Insurance – Christine Veliz
229 Bloomfield Ave – Newark, NJ 07104 – (973) 482-1975 – View Map - State Farm: Greg Daniels
681 1/2 Mt Prospect Ave – Newark, NJ 07104 – (973) 484-5772 – View Map - Farmers Insurance: Anthony Pugliese
217 Chestnut St – Newark, NJ 07105 – (973) 536-2060 – View Map
Finding the right insurance agent is decision based upon more than just the quoted price. Before buying a policy in Newark, get answers to these questions.
- Does the company have a solid financial rating?
- How often do they review policy coverages?
- Does the agent have a valid license to sell insurance in New Jersey?
- How are they compensated?
- If you raise deductibles, how much can you save?
- Is the agency active in community causes in Newark?
Keep this in mind when shopping around
As you restructure your insurance plan, you should never buy lower coverage limits just to save a few bucks. In many cases, an insured dropped collision coverage only to discover later they didn’t have enough coverage. Your objective should be to purchase a proper amount of coverage at an affordable rate, but do not sacrifice coverage to save money.
More affordable car insurance in Newark is definitely available from both online companies and from local insurance agents, and you need to comparison shop both in order to have the best price selection to choose from. A few companies may not have the ability to get quotes online and many times these smaller providers prefer to sell through independent agents.
Drivers change insurance companies for a number of reasons such as lack of trust in their agent, policy non-renewal, extreme rates for teen drivers or even delays in paying claims. It doesn’t matter why you want to switch finding a great new company can be easy and end up saving you some money.
Additional resources
- Credit and Insurance Scores (Insurance Information Institute)
- Who Has the Cheapest Car Insurance for Electric Cars in Newark? (FAQ)
- What Auto Insurance is Cheapest for a Hyundai Elantra in Newark? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Dodge Journey in Newark? (FAQ)
- Who Has the Cheapest Car Insurance for Young Drivers in Newark? (FAQ)
- How Much is Auto Insurance for a Honda CR-V in Newark? (FAQ)
- Older Driver Statistics (Insurance Information Institute)
- Understanding your Policy (NAIC.org)
- Auto Insurance 101 (About.com)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)