Pretty sure you bought high-priced auto insurance? You’re preaching to the choir because there are lots of people in the same boat. Since you have so many choices of insurance companies, it’s difficult to find the most affordable insurance company.
Take advantage of these discounts
Car insurance companies don’t always publicize the entire discount list in an easy-to-find place, so the list below contains both the well known as well as some of the hidden discounts that you can inquire about if you .
- Discount for Good Grades – Maintaining excellent grades may save as much as 25% on a . Many companies even apply the discount to college students up until you turn 25.
- Accident Waiver – Not a discount per se, but a few companies such as Allstate, Progressive, and Geico will allow you to have one accident before they charge you more for coverage if your claims history is clear for a certain period of time.
- Discount for Passive Restraints – Factory options such as air bags or motorized seat belts may qualify for discounts of more than 20%.
- Discount for Multiple Policies – If you can bundle your auto and home insurance and insure them both with the same insurance company you could earn a discount of up to 20% and get you .
- E-sign – Many larger companies may give you up to $50 for completing your application online.
As is typical with insurance, some credits don’t apply the the whole policy. The majority will only reduce specific coverage prices like collision or personal injury protection. Just because it seems like you can get free auto insurance, you aren’t that lucky.
Companies and a selection of discounts can be found below.
- Geico discounts include anti-lock brakes, emergency military deployment, military active duty, multi-vehicle, seat belt use, and driver training.
- Mercury Insurance includes discounts for ease of repair, multi-car, age of vehicle, accident-free, anti-theft, annual mileage, and location of vehicle.
- Farmers Insurance has discounts for distant student, teen driver, homeowner, business and professional, early shopping, alternative fuel, and mature driver.
- Auto-Owners Insurance policyholders can earn discounts including group or association, multi-policy, anti-theft, anti-lock brakes, and air bags.
- Liberty Mutual may offer discounts for newly retired, safety features, exclusive group savings, newly married, hybrid vehicle, and multi-policy.
- SAFECO offers discounts for multi-car, anti-theft, teen safe driver, drive less, and homeowner.
- Progressive offers premium reductions for good student, homeowner, continuous coverage, online quote discount, and online signing.
- USAA has savings for multi-policy, family discount, loyalty savings, multi-vehicle, driver training, good student, and annual mileage.
If you need lower rates, check with all companies you are considering which discounts can lower your rates. Some of the discounts discussed earlier might not be offered in every state. To choose insurers that offer multiple discounts in Absecon, click this link.
How to lower your auto insurance premiums
Lots of things are used when you get your auto insurance bill. A few of the factors are predictable such as your driving record, although some other factors are not quite as obvious such as your credit history or how safe your car is.
The items below are a few of the “ingredients” used by companies to determine your premiums.
- Insurance prices and driver gender – Over time, data shows females are less aggressive when driving. However, this does not mean women are BETTER drivers than men. Both sexes cause fender benders at a similar rate, but males get into accidents with more damage. They also get cited for more serious violations such as reckless driving. Teenage male drivers are several times more likely to be in an accident and thus pay the highest rates.
- Premiums are high for teenagers – Teen drivers in New Jersey are known to be less responsible in a vehicle and because of this, their auto insurance rates are much higher. Adding a youthful driver to your auto insurance policy can break the bank. Mature drivers tend to be more responsible, tend to cause fewer accidents and tend to be get fewer driving tickets.
- Save money by having excellent credit – Your credit score is likely to be a major factor in calculating your premium rate. So if your credit rating is not that good, you could pay less to insure your vehicle by spending a little time repairing your credit. Insureds with high credit ratings tend to be better drivers and file fewer claims than those with lower ratings.
- Discounts for auto and home policies – Many insurers give lower prices to policyholders who carry more than one policy in the form of a multi-policy discount. Discounts can add up to ten or even fifteen percent. Even if you’re getting this discount drivers will still want to shop around to ensure the best deal. You may still be able to save more without the discount by insuring with multiple companies.
- Save money with GPS tracking and theft deterrents – Choosing a vehicle with a theft deterrent system can help lower your premiums. Systems that thwart theives such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping auto theft.
- Better rates for no policy lapses – Driving any period of time without insurance can get you a ticket and companies may charge more for letting your insurance expire. In addition to paying higher rates, getting caught without coverage may result in a revoked license or a big fine. You could then be forced to provide proof of insurance in the form of an SR-22 filing with the New Jersey motor vehicle department.
- Responsible drivers pay better rates – Drivers who don’t get tickets receive lower rates as compared to careless drivers. Having a single ticket can increase the cost of insurance twenty percent or more. Drivers with serious violations like DWI, reckless driving or hit and run convictions may face state-mandated requirements to complete a SR-22 with their state in order to continue driving.
For more information
Additional information can be read on the New Jersey Department of Banking and Insurance website found here. New Jersey consumers can view a list of available companies, find a variety of consumer forms, read enforcement actions against agents and companies, and read consumer alerts.
A tidy conclusion
You just learned a lot of tips how to reduce auto insurance car insurance rates online. It’s most important to understand that the more rate comparisons you have, the better your comparison will be. You may be surprised to find that the biggest savings come from the least-expected company. These companies often have lower premium rates on specific markets than the large multi-state companies such as State Farm or Progressive.
There are still a few companies who may not offer rates over the internet and many times these smaller companies provide coverage only through local independent agencies. Low-cost auto insurance is available from both online companies in addition to local insurance agencies, and you need to price shop both to have the best selection.