Who Has the Cheapest Insurance Quotes for Used Cars in New Jersey?

You have most likely watched the captivating ads from auto insurance companies like Farmers and The General promising big savings, so you should just choose one randomly, right?

Unfortunately, it’s not that simple as there are a whole bunch of unknown factors such as your prior traffic citations, the number of years you have been licensed, and what your desired deductibles are, that all go into determining the rate you pay. This article will cover some of these criteria and educate you enough to have a good start to your coverage search.

When shopping for cheaper car insurance for pre-owned vehicles, one of the many components that help determine rate quotes is where you normally keep your vehicle. Cities that have higher claim levels or more people like East Orange, West New York, and Elizabeth tend to have more expensive auto insurance rates, whereas areas that tend to be more rural have the gratification of the cheapest insurance for used cars in New Jersey.

The illustration below displays the higher priced cities in New Jersey for used cars in which to buy car insurance.

Prices are estimated as the specific garaging location can change coverage prices significantly.

Figuring out which company has the cheapest auto insurance rates for used cars involves a little more sweat than just comparing a company or two.

Every car insurance company uses different criteria to set policy rates, so we’ll take a look at the most competitive auto insurance companies in New Jersey.

Lowest Insurance Price Quotes for Used Cars

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21st Century may have some of the best car insurance rates in New Jersey at around $1,078 a year. Travelers, New Jersey Manufacturers, Penn National, and Palisades are also some of the lowest-priced New Jersey auto insurance companies.

In the above example, if you currently have coverage with New Jersey Manufacturers and switched to 21st Century, you may see annual savings of about $180. New Jersey drivers with Penn National could save as much as $301 a year, and Palisades insureds might realize rate reductions of up to $317 a year.

It’s important to note that these rates are averages for all types of drivers and the different vehicles they drive and are not factoring in a price decrease for used cars. So the company that fits your age and vehicle best may not even be featured in the company chart above. That underscores the importance of why you need to get rate quotes from many companies using your own specific driver and vehicle information.

The car, truck, or SUV needing coverage is probably the most important factor when shopping for the cheapest insurance for used cars in New Jersey. Vehicles with lower acceleration and performance, advanced safety features, or a low likelihood of having liability claims will cost significantly less to insure than higher performance models. The data below illustrates insurance prices for a selection of the most economical vehicles to buy insurance for.

Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Prices do not factor in vehicle garaging location which can alter auto insurance rates significantly.

Based upon the rates shown, vehicles like the Subaru Forester, Ford Escape, Hyundai Tucson, and Dodge Grand Caravan will definitely be a few of the cheaper vehicles to insure for pre-owned vehicles.

Get discounts on New Jersey car insurance

Insurance companies that sell the cheapest insurance for used cars in New Jersey may also provide policy discounts that may potentially lower prices by as much as 30% if you meet specific criteria. The best auto insurance companies and a summarized list of policyholder discounts are included below.

The information below compares car insurance costs with and without discounts being applied to the rates. The information is based on a female driver, a clean driving record, no at-fault accidents, New Jersey state minimum liability limits, comp and collision included, and $1,000 deductibles.

The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with vehicle safety, safe-driver, defensive driving course, marriage, anti-theft, and accident-free discounts applied. In this example, the the average amount saved on auto insurance for used cars is 13% or $174.

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Insurance rate increases from tickets or accidents

The common sense way to enjoy low auto insurance premiums for pre-owned vehicles is to be a safe driver and avoid accidents and traffic citations. The illustration below shows how traffic citations and at-fault claims can affect annual premium costs for different age groups. Data assumes a married female driver, comp and collision included, $500 deductibles, and no discounts are applied.

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The data charted above shows the average cost of car insurance in New Jersey per year with a clean driving record and no accidents is $1,735. Factor in two speeding tickets and the average cost rises to $2,460, an increase of $725 each year. Next add one accident along with the two speeding tickets and the 12-month cost of auto insurance for used cars jumps again to an average of $3,188. That’s an increase of $1,453, or $121 per month, just for being a little careless behind the wheel!

Find the cheapest insurance for used cars in New Jersey

It’s not impossible to find cheaper rates, and here are many money-saving suggestions that can help New Jersey drivers buy lower-cost coverage.

• Safe vehicles cost less to insure
• Bundle home or renters insurance to earn a discount on car insurance
• Tickets and violations raise rates
• Earn a discount by not filing claims
• Save money by insuring older vehicles for liability only
• At-fault accidents can raise rates significantly
• Ensure you have the best deal by shopping around regularly

That last tip is especially vital, as was discussed in this write-up. Prices go up and down frequently, so drivers shouldn’t be resistant to switch companies if a lower-cost policy is available. Many drivers have brand loyalty and that’s fine, but it isn’t a good idea if that dedication is costing money that could be spent on other things. In less than five minutes you could compare rates and find cheaper car insurance for used cars.