Who Has the Cheapest Insurance Quotes for a Jeep Grand Cherokee in New Jersey?

Who Has the Cheapest Insurance Quotes for a Jeep Grand Cherokee in New Jersey?

Whether or not you can find cheap insurance for a Jeep Grand Cherokee in New Jersey is dependent upon lots of different rating factors like if you are a renter or homeowner, your geographic location, and deductibles for comprehensive and collision coverage. Drivers in New Jersey pay on average $1,400 every 12 months to insure a Grand Cherokee, but that rate is a ballpark figure based on rate data for a 40-year-old married male driver who needs full comprehensive and collision coverage and $250 deductibles.

The problem with using this number is the good chance you aren’t exactly 40 years old or even a male, you might be single instead of married, or maybe you had a chargeable driving offense. Making minor changes in rating criteria or coverage limits can make a big difference in the policy cost.

Insurance is an individual thing, so your best chance at finding the cheapest insurance price for your Jeep is to shop around at every renewal for lower rates.

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The trim level of your Jeep tends to have a direct effect on the annual cost of coverage, so the price you will be charged to insure a Grand Cherokee Laredo 2WD model will be $146 less than the insurance cost for the higher-end Grand Cherokee SRT-8 4WD model, as shown by the rates below.

Jeep Grand Cherokee Insurance Rates in New Jersey
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Grand Cherokee Laredo 2WD $338 $576 $496 $30 $148 $1,588 $132
Grand Cherokee Laredo 4WD $338 $576 $496 $30 $148 $1,588 $132
Grand Cherokee Limited 2WD $382 $678 $496 $30 $148 $1,734 $145
Grand Cherokee Limited 4WD $382 $678 $496 $30 $148 $1,734 $145
Grand Cherokee SRT-8 4WD $382 $678 $496 $30 $148 $1,734 $145
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Above prices assume married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Premium costs do not factor in specific New Jersey garaging location which can revise premiums noticeably.

Buying cheap insurance is confusing at best, and determining which company offers the most affordable insurance rates for a Jeep Grand Cherokee may require even more diligence. Each insurer has their own unique process for filing rates in each state, so first let’s look at the rankings for the insurance companies with the overall cheapest rates in New Jersey.

Cheapest Insurance Rates for Your Jeep

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Cheapest insurance companies in New Jersey
Rank Company Cost Per Year
1 21st Century $1,100
2 Travelers $1,180
3 New Jersey Manufacturers $1,271
4 Penn National $1,338
5 Palisades $1,395
6 The Hartford $1,476
7 California Casualty $1,481
8 Allstate $1,493
9 USAA $1,585
10 Mercury $1,651
11 Amica $1,832
12 Esurance $1,856
13 Progressive $1,919
14 MetLife $2,010
15 State Farm $2,182
16 GEICO $2,196
17 Encompass $2,327
18 Liberty Mutual $2,978
19 Hanover $3,987
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21st Century generally has some of the best car insurance rates in New Jersey at around $1,100 a year. Travelers, New Jersey Manufacturers, Penn National, and Palisades also make the cut as some of the cheaper New Jersey insurance companies.

In the above example, if you have coverage with Penn National and switched to 21st Century, you could realize a yearly savings of in the neighborhood of $238. Drivers with Palisades could save as much as $295 a year, and The Hartford insureds might cut rates by $376 a year.

To see how much you can save, click here to start a quote or visit several of the following companies.

Understand that those premium estimates are averaged for all insureds and vehicles and are not factoring in a specific rating modification for a Jeep Grand Cherokee. So the auto insurance company that can offer the best rates for your situation may not even be featured in the rate chart shown above. That affirms the importance of why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.

Does full coverage make sense?

Finding the cheapest insurance for a Jeep Grand Cherokee in New Jersey should be important to the majority of people, and one of the easiest ways to find cheaper insurance is to not insure for full coverage. The information below visualizes the comparison of car insurance rates when comparing full coverage to liability only. Data assumes no accidents, no driving violations, $1,000 deductibles, drivers are not married, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 4047,1697],[‘Age 30’, 2125,927],[‘Age 40’, 2069,859],[‘Age 50’, 1893,803],[‘Age 60’, 1839,789],[‘Age 70’, 2291,1059]]);var options = {title: ‘Full Coverage Rates Compared to Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Jeep Grand Cherokee in New Jersey’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If all age groups are averaged, physical damage coverage costs $2,377 per year more than insuring for liability only. At some point, every insured wonders if buying full coverage is a good investment. There is no clear-cut formula for eliminating comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is more than about 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

For example, let’s pretend your vehicle’s replacement cost is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $5,000 after paying the physical damage deductible. If it’s costing in excess of $500 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.

There are a few situations where removing full coverage is not recommended. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not remove full coverage.

Why it’s important to shop around

New Jersey insurance rates are determined by lots of factors that will increase or decrease the price you pay. Turning one year older, moving across town, or getting into an accident can cause premium changes that can cause some rates to be more affordable than the competition.

And not only may your rating factors change, but insurers modify pricing as needed in order to be able to pay unexpected claims. Higher than normal claim frequency or severity may result in rate increases, while lower claim levels may cause cheaper Grand Cherokee insurance rates.

For example, the chart below shows the companies that have the cheapest car insurance in New Jersey for a 40-year-old female driver with no prior accidents, a clean driving record, and a good credit history. If we look at prices based on her current rating profile, 21st Century quotes the cheapest car insurance rates in New Jersey at $1,067 each year. This is $785 less than the average rate paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades also make the list of the cheapest New Jersey auto insurance companies.

google.charts.setOnLoadCallback(drawNJWitcqcibChart);function drawNJWitcqcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }],[’21st Century’, 1067, ‘#528E00’],[‘Travelers’, 1145, ‘#447600’],[‘New Jersey Manufacturers’, 1310, ‘#386200’],[‘Penn National’, 1379, ‘#2E5100’],[‘Palisades’, 1382, ‘#264300’]]);var options = {title: ‘Best Auto Insurance Rates for a Jeep Grand Cherokee’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1482,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibwitc’));chart.draw(view, options);}

Let’s now give the driver in the first chart a claim or two, slightly worse credit, and a blemish on her driving record. Since every insurance provider uses their own formula for determing rates in each state, comparing quotes may result in a different set of the cheapest New Jersey car insurance companies as shown below.

google.charts.setOnLoadCallback(drawNJWcqcibChart);function drawNJWcqcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }],[‘The Hartford’, 1623.6, ‘#C76400’],[‘Allstate’, 1675.3, ‘#A55300’],[‘USAA’, 1691.8, ‘#894500’],[‘Travelers’, 1717.5, ‘#723900’],[‘Mercury’, 1798.5, ‘#5F2F00’]]);var options = {title: ‘Car Insurance Rates with Claims and Violations’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 300,’chartArea’:{left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1898.5,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibwc’));chart.draw(view, options);}

The Hartford now has the lowest price on auto insurance in New Jersey with Allstate, USAA, Travelers, and Mercury completing the list. This demonstrates why it is critical to spend some time comparing rates when trying to find the most economical auto insurance rates for a Jeep Grand Cherokee.

Prices are calculated by many risk factors and change dramatically, so the best option when you bought your policy may now be wasting a lot of money.

Cheap Jeep Grand Cherokee insurance quotes

There are many ways to compare insurance prices in New Jersey, but the three most common are through a captive (or exclusive) agent like Liberty Mutual or State Farm, an independent agent, or buying direct from a company like Progressive or Geico. All three ways are similar, but they differ in how they price policies.

Independent agencies work for many companies and can get rate quotes from each one. They are not required to write business for one company and can get prices from more than one company, which can give you the best idea of how your rates compare. If they find a lower price, your policy can be moved and you stay with the same agent.

An exlusive, or captive, agency is restricted to one insurance company, for example Allstate or State Farm agents. Exclusive agencies are unable to give you multiple price quotes, so they have no alternatives for high prices.

Buying from a direct company means bypass either of the other two types of agents and instead shop from a direct company like Progressive. Shopping for insurance direct may be preferred by drivers who have little risk and have some degree of understanding of the exclusions of a policy.

What is the best method to find the cheapest insurance for a Jeep Grand Cherokee in New Jersey? Most people assume that shopping direct results in the cheapest price because there is no agent taking a commission, but that turns out to not be true. A valid argument could also be made that an independent agent results in the best rates because you have more choices, but again, that’s not a true statement. In the right set of circumstances, the exclusive agents may have prices that cannot be beaten by either independent or direct companies.

Due to that fact that insurance uses so many rating variables, the only real way to make sure you’re not overpaying for insurance is to obtain price quotes and compare them. Make the effort to get price quotes from all three to give yourself enough choices. For a list of companies with cheap rates in New Jersey, click here to view.

Find the cheapest insurance for a Jeep Grand Cherokee in New Jersey

It is possible to find better rates, and here are some of the recommended money-saving suggestions that can help drivers get more affordable coverage.

  • Raise deductibles
  • Pay lower rates with good credit
  • At-fault accidents can raise rates significantly
  • The safer your car, the less it costs to insure
  • Full coverage is expensive so only insure older vehicles for liability only
  • Speeding tickets and other violations increase rates
  • Shop around for cheaper prices often

The last suggestion is extremely vital, as we discussed in the prior information. Auto insurance rates can change in a short period of time, so don’t be hesitant to change to a new company if a lower price can be found. Many drivers prefer to stick with one company, but we do not recommend it if that dedication is costing a wad of cash every year. It only take a few minutes to shop around and find cheaper auto insurance for a Jeep Grand Cherokee.