Tightwads Guide to Saving on Plainsboro Auto Insurance

Expensive auto insurance can take a big chunk out of your bank account and put a big crunch on your finances. Shopping your coverage around is free, only takes a few minutes, and is a good way to reduce premiums and put more money in your pocket.

Because you have many companies and agents to choose from, it can be hard to find the cheapest insurance company.

You have some control over your rates

Consumers need to have an understanding of the different types of things that help determine auto insurance rates. When you know what positively or negatively influences your rates enables informed choices that could result in much lower annual insurance costs.

Higher deductibles cost less - Deductibles for physical damage represent how much money you are required to spend in the event of a claim. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some instances where coverage would apply are colliding with a building, damage caused by hail, and rolling your vehicle. The more money you are required to pay out-of-pocket, the bigger discount you will receive.
More miles equals more premium - Driving more miles in a year's time the more you'll pay to insure your vehicle. Most insurance companies price each vehicle's coverage based on their usage. Cars and trucks used primarily for pleasure use can get a lower rate as compared to vehicles used primarily for driving to work. Double check that your auto insurance coverage properly reflects the proper vehicle usage, because it can save money.
Women pay lower rates - Statistics have proven women tend to be less risk to insure than men. However, this does not mean men are worse drivers. Both sexes cause accidents at about the same rate, but the male of the species have costlier accidents. Men also tend to receive more costly citations like reckless driving and DUI. Young males are several times more likely to be in an accident and are penalized with high auto insurance rates.
How credit affects auto insurance rates - A driver's credit history is a large factor in determining what you pay for auto insurance. Therefore, if your credit is not that good, you could save money insuring your by improving your rating. Drivers who have excellent credit tend to be better drivers and file fewer claims than those with lower credit scores.
Car features impact rates - Purchasing a vehicle that has an advanced theft prevention system can help lower your rates. Theft prevention features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping car theft.

More discounts equal less premium

Insurance can cost an arm and a leg, but there could be available discounts that you may not know about. Some discounts apply automatically when you complete an application, but lesser-known reductions have to be asked for before they will apply.

Multiple Vehicles - Having multiple vehicles with the same company could earn a price break for each car.
Life Insurance - Some companies give a break if you buy life insurance.
Accident Waiver - Some insurance companies permit an accident before hitting you with a surcharge so long as you haven't had any claims for a set time period.
Air Bag Discount - Vehicles equipped with air bags or automatic seat belts can receive discounts up to 30%.
Payment Method - If you pay your entire premium ahead of time instead of making monthly payments you may reduce your total bill.

It's important to note that most discounts do not apply to your bottom line cost. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. So even though it sounds like all the discounts add up to a free policy, you're out of luck. But any discount will help reduce your premiums.

To choose insurers who offer auto insurance discounts in New Jersey, click here to view.

Switch companies and save? Really?

Allstate, GEICO and Progressive continually stream ads in print and on television. All the companies make an identical promise that you can save after switching to their company. But how can every company say the same thing?

Insurance companies have a preferred profile for the driver that makes them money. An example of a profitable customer might be profiled as over the age of 50, has no prior claims, and drives newer vehicles. A propective insured who meets those qualifications will get very good rates and therefore will save a lot of money.

Consumers who do not match this ideal profile must pay higher rates and ends up with business not being written. The ads say "people who switch" not "everyone that quotes" save that much. This is how insurance companies can claim big savings.

This illustrates why you should get as many comparisons as possible. It's not possible to predict which insurance companies will give you the biggest savings.

It's not one size fits all

When buying proper insurance coverage for your personal vehicles, there really is no one size fits all plan. Each situation is unique so your insurance should reflect that Here are some questions about coverages that can help discover if you may require specific advice.

Am I covered when driving on a suspended license?
What are the financial responsibility laws in New Jersey?
Does my policy cover me when driving someone else's vehicle?
Should I drop comprehensive coverage on older vehicles?
Are my tools covered if they get stolen from my vehicle?
Who is covered when they drive my vehicle?
Is rental equipment covered for theft or damage?

If you're not sure about those questions then you might want to talk to a licensed insurance agent. If you don't have a local agent, complete this form or go to this page to view a list of companies.

Learn more about auto insurance in New Jersey

More information is available on the website for the New Jersey Department of Banking and Insurance through this link. New Jersey drivers can report car insurance fraud, file complaints about an insurance agent or broker, learn about insurance regulations, and find out industry alerts.

Other informative sites include this page for New Jersey auto insurance and this page for help finding agents in Plainsboro, NJ.

Affordable insurance is out there

Lower-priced auto insurance can be sourced on the web and also from your neighborhood Plainsboro agents, and you should be comparing both to get a complete price analysis. A few companies may not provide online price quotes and usually these smaller companies provide coverage only through local independent agents.

When trying to cut insurance costs, don't be tempted to buy poor coverage just to save money. In too many instances, consumers will sacrifice comprehensive coverage or liability limits to discover at claim time that it was a big mistake. Your focus should be to find the BEST coverage at an affordable rate while not skimping on critical coverages.

In this article, we covered many tips how you can save on auto insurance. The most important thing to understand is the more rate comparisons you have, the better your comparison will be. You may even find the biggest savings come from a company that doesn't do a lot of advertising. Some small companies often have lower prices on specific markets as compared to the big name companies such as .