Lower Online Summit Auto Insurance Prices With These Methods
If you've never shopped for auto insurance online, you may be overwhelmed by the vast number of auto insurance companies offering coverage in Summit.
It's important to compare prices periodically because insurance rates are constantly changing. Just because you had the lowest rates a few years ago you can probably find a better price now. So just forget anything you know (or think you know) about auto insurance because you're about to learn the tricks you need to know to find lower rates on auto insurance.
Finding affordable coverage in Summit is quite easy. If you have car insurance now, you will most likely be able to lower your premiums substantially using this information. New Jersey drivers only need an understanding of the most effective way to compare rates online.
How to Lower your Auto Insurance Rates
Consumers need to have an understanding of the different types of things that go into determining the price you pay for auto insurance. When you know what positively or negatively determines base rates empowers consumers to make smart changes that can help you get lower auto insurance prices.
Listed below are a few of the "ingredients" used by your company to calculate your rates.
- Do you know you're credit rating? - Your credit score is a large factor in determining your rates. If your credit history is lower than you'd like, you could save money insuring your by improving your rating. People with excellent credit tend to be more responsible than drivers with poor credit.
- What type of vehicle do you drive? - The type of car you drive makes a substantial difference in determining your rates. The most favorable rates are for economy passenger cars, but there are many factors that impact the final cost.
- Traffic violations increase rates - Even a single moving violation can bump up the cost by twenty percent. Drivers who don't get tickets receive lower rates than bad drivers. Drivers who get serious violations like DUI or reckless driving may be required to submit a SR-22 or proof of financial responsibility with their state DMV in order to continue driving.
- What are your deductibles? - Physical damage coverage, also known as collision and other-than-collision, protects your car from damage. A few examples of covered claims could be colliding with a building, damage caused by hail, or theft. Deductibles for physical damage are the amount of money you are willing to pay in the event of a claim. The higher the amount you have to pay, the lower your rates will be.
Policy discounts you shouldn't miss
Companies offering auto insurance don't list every available discount very well, so we break down both well-publicized and the more hidden savings tricks you should be using. If you don't get every credit you qualify for, you are paying more than you should be.
- Anti-lock Brake System - Vehicles equipped with ABS or steering control are safer to drive and will save you 10% or more.
- Early Signing - A few companies offer discounts for switching policies prior to your current policy expiration. This can save 10% or more.
- Air Bag Discount - Vehicles with factory air bags or motorized seat belts can receive discounts of up to 25% or more.
- Multi-car Discount - Buying insurance for more than one vehicle with the same company could earn a price break for each car.
- Life Insurance - Larger companies have a break if you buy a life insurance policy as well.
- Save over 55 - If you're over the age of 55, you may qualify for a small decrease in premiums.
- Low Mileage - Driving fewer miles can earn discounted rates on garaged vehicles.
It's important to understand that most discounts do not apply to the entire policy premium. The majority will only reduce the cost of specific coverages such as comprehensive or collision. So even though they make it sound like all the discounts add up to a free policy, it doesn't quite work that way.
To choose providers offering auto insurance discounts in New Jersey, click here to view.
Save $429 a year? Really?
New Jersey consumers can't ignore all the ads for cheaper car insurance from the likes of Allstate and Progressive. All the ads make an identical promise of big savings if you switch your coverage to them.
But how can every company make almost identical claims?
All companies have a certain "appetite" for the type of customer that makes them money. For example, a preferred risk could possibly be a mature driver, a clean driving record, and has a short commute. A driver who meets those qualifications gets the lowest rates and is almost guaranteed to save a lot of money.
Potential customers who don't qualify for this ideal profile will be charged a more expensive rate and ends up with the driver buying from a lower-cost company. Company advertisements say "people who switch" but not "drivers who get quotes" save that much money. That is how insurance companies can confidently make the claims of big savings. That is why you should get a wide range of price quotes. It is impossible to predict which company will fit your personal profile best.
Insurance agents can help
When buying adequate coverage for your vehicles, there really is no one size fits all plan. Each situation is unique.
For example, these questions may help highlight whether your personal situation would benefit from professional advice.
- Does my insurance cover a custom paint job?
- Does my car insurance cover rental cars?
- Can I rate high risk drivers on liability-only vehicles?
- Am I covered when driving on a suspended license?
- When does my teenage driver need to be added to my policy?
- Should I buy additional glass protection?
If you're not sure about those questions then you might want to talk to an insurance agent. To find an agent in your area, simply complete this short form. It is quick, free and can provide invaluable advice.
Additional New Jersey consumer information
More tips and info about auto insurance can be found at the New Jersey Department of Banking and Insurance website. New Jersey consumers can find out industry alerts, learn about specific coverages, and file complaints about a company.
And the best car insurance company is...
As you shop your coverage around, don't be tempted to buy poor coverage just to save money. Too many times, someone dropped uninsured motorist or liability limits only to regret that saving that couple of dollars actually costed them tens of thousands. The aim is to buy the best coverage you can find at an affordable rate, not the least amount of coverage.
In this article, we presented many tips how you can save on auto insurance. The key thing to remember is the more quotes you get, the better chance you'll have of finding lower rates. You may even discover the best price on auto insurance is with a company that doesn't do a lot of advertising.
Low-cost auto insurance is available online as well as from independent agents in Summit, and you need to price shop both to have the best rate selection. Some insurance providers don't offer online price quotes and many times these regional insurance providers only sell through independent insurance agents.