7 Top Ways to Cut Car Insurance Costs in Montclair, NJ
Did you fall for a flashy sales pitch and buy an overpriced car insurance policy? Believe me when I say there are many Montclair consumers feeling the pinch from expensive car insurance.
Drivers have multiple to buy insurance from, and although it's a good thing to have multiple companies, it can be more challenging to compare rates.
It's important to compare prices at least once a year since rates are constantly changing. Just because you found the lowest price last year you will most likely find a better rate today. There is a lot of bad information regarding car insurance on the internet, so we're going to give you some great ways to put money back in your pocket.
Don't pay full price with these seven discounts
Companies that sell car insurance don't list every available discount very clearly, so we researched both the well known and the more hidden discounts you could be receiving.
- Anti-theft Discount - Vehicles with anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
- Low Mileage - Low mileage vehicles could be rewarded with a substantially lower rate.
- Multiple Cars - Having all your vehicles on one policy could earn a price break for each car.
- No Charge for an Accident - Certain companies permit an accident before your rates go up if you are claim-free prior to the accident.
- Life Insurance Discount - Companies who offer life insurance give a discount if you purchase a life insurance policy as well.
- E-sign - Certain companies may give you up to $50 for buying your policy over the internet.
- Clubs and Organizations - Being a member of a qualifying organization may earn a discount on your policy.
A little note about advertised discounts, some of the credits will not apply the the whole policy. Most only apply to the cost of specific coverages such as comprehensive or collision. So when the math indicates all the discounts add up to a free policy, you won't be that lucky.
The car insurance bait and switch
Companies like Allstate and Progressive consistently run ads in print and on television. All the ads have a common claim about savings if you change to their company. How does each company claim to save you money?
All companies are able to cherry pick for the driver that earns them a profit. For instance, a preferred risk might be between 25 and 40, has no tickets, and has great credit. Any new insured that hits that "sweet spot" is entitled to the best price and therefore will save when switching.
Drivers who don't measure up to these standards will be charged a higher premium and this can result in the customer not buying. The ads state "people who switch" not "everyone that quotes" save that much. That's the way companies can truthfully advertise the savings. That is why you should get quotes from several different companies. It's just too difficult to predict which car insurance company will give you the biggest savings.
Find out more about car insurance
Even more information is located at the New Jersey Department of Banking and Insurance website. Visitors are able to read consumer alerts, find disaster information, find out which companies have the most complaints, and get help finding coverage.
Do the work, save more money
As you prepare to switch companies, never buy lower coverage limits just to save a few bucks. Too many times, an insured dropped collision coverage and learned later that the small savings ended up costing them much more. The aim is to buy a smart amount of coverage at an affordable rate, not the least amount of coverage.
Cheaper car insurance can be sourced both online and also from your neighborhood Montclair agents, so you should compare both to have the best selection. There are still a few companies who may not provide you the ability to get quotes online and many times these small, regional companies only sell through independent insurance agents.
