Tightwads Guide to Saving on Seaside Park Auto Insurance

Having to pay for overpriced auto insurance can overdraw your personal savings and put a big crunch on your finances. Comparing price quotes is a smart way to lower your monthly bill. Since consumers have many auto insurance companies to choose from, it is very difficult to find the cheapest provider.

This article will teach you how to effectively get price quotes and some tricks to saving. If you have car insurance now, you stand a good chance to be able to lower your premiums substantially using this information. New Jersey drivers only need an understanding of the most effective way to compare company rates over the internet.

You have some control over your rates

Consumers need to have an understanding of some of the elements that help determine auto insurance rates. When you know what positively or negatively determines base rates enables informed choices that could result in lower auto insurance prices.

The following are a few of the "ingredients" auto insurance companies consider when setting premiums.

Higher deductibles cost less - Your deductibles represent how much money you are required to spend in the event of a claim. Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Some instances where coverage would apply are colliding with a building, damage caused by hail, and rolling your vehicle. The higher the amount you are required to pay out-of-pocket, the bigger discount you will receive.
Where do you drive? - 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 determined by how the vehicle is used. Vehicles left parked in the garage qualify for better rates compared to those used for work or business. Make sure your auto insurance coverage properly reflects the proper vehicle usage.
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. Women and men have accidents in similar percentages, but the male of the species have costlier accidents. Men also tend to get cited for more serious violations like reckless driving and DUI. Male drivers age 16 to 19 are the most expensive to insure and are penalized with high auto insurance rates.
How many coverages with the same company - Many companies will award you with lower prices to people who have multiple policies with them, otherwise known as a multi-policy discount. If you currently are using one company, it's still a good idea to comparison shop to ensure the best deal.
Frequent auto insurance claims increase rates - Auto insurance companies in New Jersey provide discounts to policyholders who are claim-free. If you file claims often, you can expect either a policy non-renewal or much higher rates. Auto insurance is intended to be relied upon for the bigger claims that can't be paid out-of-pocket.

Be sure to get all your discounts

Insurance can cost an arm and a leg, but there could be available discounts that you may not know about. Larger premium reductions will be automatically applied when you get a quote, but less common discounts must be specifically requested before you will receive the discount. If you don't get every credit you deserve, you are paying more than you should be.

Multiple Vehicles - Buying insurance for multiple vehicles with the same company can get a discount on all vehicles.
Discount for Life Insurance - Larger companies have a break if you buy a life insurance policy as well.
Accident Waiver - Some insurance companies allow you one accident before hitting you with a surcharge so long as you haven't had any claims prior to the accident.
Auto/Home Discount - If you insure your home and vehicles with one company you could get a discount of up to 20% off your total premium.
Government Employees - Employees or retirees of the government can save as much as 8% depending on your company.
Senior Discount - If you're over the age of 55, you may be able to get better auto insurance rates.
Driver Safety - Completing a course teaching defensive driving skills could cut 5% off your bill if your company offers it.
Passive Restraints - Vehicles equipped with air bags or automatic seat belts can receive discounts of up to 25% or more.

Consumers should know that most of the big mark downs will not be given to your bottom line cost. A few only apply to specific coverage prices like physical damage coverage or medical payments. So when it seems like all the discounts add up to a free policy, companies don't profit that way. Any qualifying discounts will help reduce the amount you have to pay.

To choose insurers who offer auto insurance discounts in New Jersey, follow this link.

Is there truth in advertising?

New Jersey drivers can't ignore all the ads for car insurance savings by Allstate, GEICO and Progressive. All the companies say the same thing of big savings after switching to their company.

But how can every company say the same thing? It's all in the numbers.

All companies have a preferred profile for the driver that makes them money. For example, a profitable customer might be profiled as a mature driver, has no prior claims, and has excellent credit. A propective insured who fits that profile receives the best rates and is almost guaranteed to save a lot of money.

Drivers who don't measure up to this ideal profile must pay higher premiums which usually ends up with business not being written. Company advertisements say "customers who switch" but not "drivers who get quotes" save that much. This is how insurance companies can confidently make those claims.

This illustrates why you should compare many company's rates. It's not possible to predict which insurance companies will have the lowest rates.

How do I know if I need professional advice?

When buying the right insurance coverage for your personal vehicles, there really is no single plan that fits everyone. Every situation is different so your insurance needs to address that. For example, these questions can help discover whether or not you would benefit from professional 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?
Am I covered when driving in Canada or Mexico?
Do I have coverage for damage caused while driving under the influence?
When does my teenage driver need to be added to my policy?
Should I buy additional glass protection?

If you don't know the answers to these questions then you might want to talk to a licensed insurance agent. To find an agent in your area, simply complete this short form or go to this page to view a list of companies. It is quick, free and you can get the answers you need.

Learn more about auto insurance in New Jersey

Additional auto insurance information can be found on the website for the New Jersey Department of Banking and Insurance found here. New Jersey drivers can report car insurance fraud, file complaints about an insurance agent or broker, learn about insurance regulations, and read consumer alerts.

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

A tidy conclusion

Cost effective auto insurance can be sourced on the web and also from your neighborhood Seaside Park agents, and you need to price shop both to have the best chance of lowering rates. Some companies may not provide online price quotes and usually these regional insurance providers provide coverage only through local independent agents.

While you're price shopping online, do not buy poor coverage just to save money. In too many instances, consumers will sacrifice physical damage coverage only to discover later they didn't purchase enough coverage. Your focus should be to buy enough coverage at the best price while not skimping on critical coverages.