Cheapest Insurance for a Volkswagen Eos in Newark

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Insurance quote for Volkswagen Eos in NewarkRemarkably, a study showed that the vast majority of car insurance customers in New Jersey have bought car insurance from the same company for a minimum of four years, and 38% of drivers have never quoted rates to find affordable coverage. U.S. drivers could save roughly $860 a year by just comparing rate quotes, but they just don't understand the amount of money they would save if they just switched companies.

If you want to save the most money, the best way to get affordable auto insurance rates is to regularly compare price quotes from different companies in Newark. You can compare rates by completing these steps.

  • Step 1: Take a little time to learn about what coverages are included in your policy and the things you can change to keep rates down. Many rating factors that increase rates such as traffic citations and a not-so-good credit rating can be improved by paying attention to minor details.
  • Step 2: Get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like GEICO and State Farm, while independent agents can quote prices for many different companies.
  • Step 3: Compare the quotes to your current policy to see if a cheaper price is available. If you find a lower rate and buy the policy, ensure there is no coverage lapse between policies.
  • Step 4: Give notification to your current company to cancel your current car insurance policy and submit the signed application along with the required initial payment to the new company. As soon as you can, place your new proof of insurance certificate in your vehicle.

One thing to remember is that you use the same amount of coverage on every price quote and and to get price estimates from as many auto insurance providers as possible. This enables the most accurate price comparison and the best price selection.

To find the cheapest Volkswagen Eos rate quotes, there are several ways to compare rate quotes from many auto insurance companies in New Jersey. The easiest way to find cheaper Volkswagen Eos rates is to jump online and get quotes.

Online shopping is fast and free, and it replaces the need to spend time driving to insurance agents' offices. Comparing Volkswagen Eos insurance rates online reduces the need to sit down with an agent unless you prefer the personal advice that only an agent can give. Although, it is possible obtain prices from the web but have a local agent actually write the policy.

When quoting auto insurance, remember that having more price comparisons increases the chance that you will find lower pricing. Not every company does price estimates online, so you also need to get quotes from them as well.

The following companies have been selected to offer price quotes in Newark, NJ. If multiple companies are listed, we suggest you click on several of them to get the best price comparison.

Rate information and statistics

The information below highlights different insurance rates for Volkswagen Eos models. Having knowledge of how insurance policy rates are determined can help you make smart policy decisions.

Volkswagen Eos Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
EOS Komfort Turbo 2-Dr Convertible $452 $862 $490 $30 $146 $1,980 $165
EOS Luxury Turbo 2-Dr Convertible $452 $862 $490 $30 $146 $1,980 $165
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Table data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Estimates do not factor in specific location information which can influence premium rates noticeably.

Policy deductibles

A question often asked by Newark drivers is where should you set your physical damage deductibles. The comparison tables below summarize the cost difference when you select higher and lower deductibles. The first price estimate table uses a $250 physical damage deductible and the second price table uses a $1,000 deductible.

Volkswagen Eos insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
EOS Komfort Turbo 2-Dr Convertible $420 $738 $480 $28 $144 $1,835 $153
EOS Luxury Turbo 2-Dr Convertible $420 $738 $480 $28 $144 $1,835 $153
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Volkswagen Eos insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
EOS Komfort Turbo 2-Dr Convertible $258 $464 $480 $28 $144 $1,374 $115
EOS Luxury Turbo 2-Dr Convertible $258 $464 $480 $28 $144 $1,374 $115
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Above prices assume 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, multi-policy, safe-driver, and homeowner. Table data does not factor in garaging location in Newark which can revise insurance rates significantly.

Based on this data, using a $250 deductible will cost you approximately $38 more each month or $456 every year than requesting the higher $1,000 deductible. Due to the fact that you would have to pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you tend to go more than 20 months between claim filings, you would more than likely save some money if you choose the higher deductible.

Calculate savings of higher deductibles

Average monthly premium for $250 deductibles: $153
Average monthly premium for $1,000 deductibles (subtract): - $115
Monthly savings from raising deductible: $38
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $38
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 20 months

An important sidenote is that higher deductibles results in having to pay to pay more out-of-pocket when you do file a claim. It will be required that you have a higher level of savings in the event you need to pay the higher deductible.

The information below shows how different deductible levels and can change Volkswagen Eos premium costs for each age group. The rates are based on a single male driver, comp and collision included, and no additional discounts are factored in.

Auto insurance is not optional

Despite the high insurance cost for a Volkswagen Eos in Newark, auto insurance serves a purpose in several ways.

  • Almost all states have minimum mandated liability insurance limits which means you are required to buy specific minimum amounts of liability protection 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 your Eos has a loan, more than likely the lender will force you to have physical damage coverage to ensure loan repayment if the vehicle is totaled. If the policy lapses, the lender will be forced to insure your Volkswagen at an extremely high rate and force you to reimburse them the higher premium.
  • Insurance safeguards not only your Volkswagen Eos but also your financial assets. It will also reimburse you for medical bills for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if anyone sues you for causing an accident. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to repair the damage minus the deductible amount.

The benefits of carrying adequate insurance definitely exceed the price paid, particularly for liability claims. In a recent study of 1,000 drivers, the average customer overpays as much as $700 annually so you should quote your policy with other companies every year to save money.

What Determines Volkswagen Eos Insurance Prices?

Multiple criteria are used when premium rates are determined. Some factors are common sense like an MVR report, but some are more obscure such as your marital status or your commute time.

Prevent theft and save - Selecting a car model with an alarm system can save you a little every year. Anti-theft devices such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping auto theft and help lower rates.

Performance affects premiums - The performance level of the car you need to insure makes a big difference in how high your rates are. The lowest rates are usually found on low performance passenger cars, but the cost you end up paying is determined by many additional factors.

The data below uses these assumptions: single female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. The chart compares Volkswagen Eos insurance rates compared to other models that have different performance risks.

Raising physical damage deductibles saves money - Deductibles for physical damage represent how much money the insured will be required to pay if you file a covered claim. Protection for physical damage, also called 'full coverage', is used to repair damage to your car. Some examples of covered claims are colliding with a stationary object, collision with a deer, or theft of your vehicle. The larger the amount you're willing to pay, the less your company will charge you for insurance.

Which gender costs less? - Statistics demonstrate women tend to be less risk to insure than men. Now that doesn't mean men are WORSE drivers than women. Both sexes get in auto accidents in similar percentages, but the male of the species cause more damage. They also have more aggressive citations such as DWI and reckless driving.

The illustration below illustrates the difference between Volkswagen Eos insurance costs for male and female drivers. Data assumes no accidents, no driving violations, full coverage, $100 deductibles, marital status is single, and no additional discounts are factored in.

Insurance loss data for Volkswagen Eos vehicles - Companies use past insurance losses to calculate a price that will offset losses. Models that statistically have a higher amount or frequency of claims will have higher rates for specific coverages. The table shown below demonstrates the insurance loss data for Volkswagen Eos vehicles.

For each insurance policy coverage type, the loss probability for all vehicles averaged together is set at 100. Numbers under 100 mean the vehicle has better than average losses, while numbers that are greater than 100 indicate frequent claims or statistically larger losses.

Volkswagen Eos Insurance Loss Statistics
Specific Volkswagen Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Volkswagen Eos Convertible 88 77 78 76
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years

Companies offer many types of discounts on Volkswagen Eos insurance in Newark

Insuring your fleet can be pricey, but you may qualify for discounts that may help make it more affordable. Some discounts will apply when you purchase, but lesser-known reductions have to be requested specifically before being credited.Discount auto insurance

  • Waiver for an Accident - Not really a discount, but some insurance companies will forgive one accident without raising rates if you are claim-free for a specific time period.
  • Discount for Multiple Policies - If you can bundle your auto and home insurance and place coverage with the same company you may save at least 10 to 15 percent or more.
  • Low Mileage Discounts - Low annual miles could be rewarded with discounted prices on garaged vehicles.
  • Home Ownership Discount - Owning your own home or condo can help you save on auto insurance since home ownership means you have a higher level of financial diligence.
  • Military Rewards - Being deployed with a military unit could qualify you for better premium rates.
  • Senior Citizen Discount - Seniors may be able to get lower premium rates.

Drivers should understand that many deductions do not apply to the entire policy premium. A few only apply to the cost of specific coverages such as comprehensive or collision. So when it seems like all the discounts add up to a free policy, that's just not realistic.

The example below shows the comparison of Volkswagen Eos insurance prices with and without discounts applied to the premium. The premiums assume a male driver, no violations or accidents, New Jersey state minimum liability limits, full physical damage 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, homeowner, marriage, multi-policy, safe-driver, and multi-car discounts applied.

A few popular companies and their possible discounts can be found below.

  • GEICO has savings for daytime running lights, five-year accident-free, defensive driver, good student, and anti-theft.
  • SAFECO may have discounts that include bundle discounts, safe driver, anti-theft, drive less, accident prevention training, and multi-car.
  • State Farm may include discounts for multiple policy, accident-free, good driver, Drive Safe & Save, anti-theft, and safe vehicle.
  • MetLife offers discounts including claim-free, good driver, good student, defensive driver, multi-policy, and accident-free.
  • 21st Century discounts include automatic seat belts, defensive driver, teen driver, 55 and older, good student, homeowners, and anti-lock brakes.
  • Progressive offers premium reductions for online quote discount, homeowner, continuous coverage, good student, multi-policy, online signing, and multi-vehicle.

When comparing rates, check with all companies you are considering what discounts are available to you. Some discounts listed above might not be available to policyholders everywhere. For a list of auto insurance companies who offer discounts in New Jersey, click this link.

Auto insurance is available from your local insurance agencies

Certain consumers would prefer to talk to a local agent and that can be a great decision A nice benefit of comparing rate quotes online is that you can obtain the lowest rates and still choose a local agent. And buying from local agents is definitely important in Newark.

Newark insurance agentsTo help locate an agent, after submitting this quick form, the coverage information gets sent to insurance agents in Newark that can give you free Newark car insurance quotes and help you find cheaper coverage. You don't have to do any legwork since price quotes are sent instantly to you. You can find better rates without requiring a lot of work. If for some reason you want to get a rate quote from one company in particular, you can always navigate to their website and fill out the quote form the provide.

Different types of auto insurance agents in Newark

If you would like to find a local agent, you must know there are a couple different agency structures that differ in how they can insure your vehicles. Newark agents can either be independent agents or exclusive agents.

Independent Agents

These agents do not have single company limitations and that enables them to quote your coverage with multiple insurance companies and find you the best rates. If prices rise, your policy is moved internally which requires no work on your part. If you are comparing auto insurance prices, you definitely need to get some free quotes from several independent insurance agents for maximum quote selection.

Shown below are Newark independent agencies that can possibly get you pricing information.


177 Adams St - Newark, NJ 07105 - (973) 466-9090 - View Map


274 Chestnut St - Newark, NJ 07105 - (973) 274-0500 - View Map


650 Newark Ave - Elizabeth, NJ 07208 - (908) 352-3623 - View Map

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Exclusive Agents

These agents can usually just insure with one company such as State Farm, Allstate, or Farmers Insurance. They are unable to provide other company's prices so you might not find the best rates. Exclusive agents are well schooled on their company's products and that enables them to sell even at higher rates.

Below are exclusive agents in Newark that are able to give price quotes.


217 Chestnut St - Newark, NJ 07105 - (973) 536-2060 - View Map


66 Wilson Ave - Newark, NJ 07105 - (973) 690-6400 - View Map


229 Bloomfield Ave - Newark, NJ 07104 - (973) 482-1975 - View Map

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Choosing the best insurance agent is decision based upon more than just a low price. Any agent in Newark should be willing to answer these questions.

  • What will you get paid if your car is a total loss? How is that amount determined?
  • If your car is in the repair shop, do you have coverage for a rental car?
  • How much can you save by raising your physical damage deductibles?
  • Has the agent ever had any license suspensions?
  • Are there any extra charges for paying monthly?
  • Will they give you a referral list?

What is YOUR best insurance company?

As you quote Newark car insurance, it's very important that you do not reduce needed coverages to save money. In many cases, consumers will sacrifice uninsured motorist or liability limits only to regret at claim time they didn't purchase enough coverage. Your goal is to buy enough coverage at a price you can afford and still be able to protect your assets.

In this article, we presented a lot of information how to save on Volkswagen Eos insurance in Newark. The most important thing to understand is the more rate comparisons you have, the more likely it is that you will get a better rate. Drivers may even discover the lowest priced auto insurance comes from a lesser-known regional company. Smaller companies may cover specific market segments cheaper than their larger competitors like State Farm or Progressive.

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