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Tips to Find Affordable Auto Insurance in NJ

With so many factors to consider, finding affordable auto insurance in NJ can be overwhelming.

Large corporations make it seem simple with their bottomless advertising budgets and catchy commercials, but how do you know if you’re really getting the best deal?

In this article, we’ll outline twelve things to consider to ensure that you get the best price on your auto coverage in New Jersey. If you’re pressed on time, watch our video summary:

1. Before making a purchase, speak with your current provider

If you already have auto insurance coverage, we’d recommend speaking with your current provider to see what the vehicle(s) you’re planning to purchase will end up costing you under your current terms and conditions.

That way you have a baseline number to begin before you start actively shopping. You can always revisit this step as you narrow down your search.

2. Research what type of insurance you’ll need

There are different affordable car insurance plans in New Jersey, and it’s important to know what the different policy coverages and limitations are.

For example, there is physical damage coverage, uninsured motorist coverage, property damage coverage, transportation expenses/rental coverage, bodily injury liability and medical payments coverage.

You can learn more about these types of coverage here so you don’t go in blind and get suckered into the first one you’re presented with.

3. Know that different companies have different rates for different people

Your age, region, and family dynamics are amongst a few factors that can impact your rate.

Your friend who is younger and doesn’t have kids may get a cheaper rate from one company, while with another provider will reward you with a discounted rate for having multiple family members covered.

That’s why it’s essential to shop around to find the best deal for your specific needs. Do not expect it to always be a cooker-cutter fit.

4. Consider both local and national companies

As mentioned above, you shouldn’t just go with the insurance provider that has the catchiest commercials, but that doesn’t mean you shouldn’t investigate what they’ve got to offer.

We encourage you to do both a localized search along with national brands to paint the most accurate picture of your coverage options as possible.

5. Reap benefits if you can

You might receive several discounts that can help you get the most cost-effective auto insurance in NJ.

Companies offer deals for safe drivers, bundling for multiple coverages, early or on time payments, job considerations, military benefits, philanthropic involvement, age and more.

See what each company can do to help you cut costs based on these factors.

6. Consider how life events may raise your rate

Did you get married or divorced? Did you move? Did you recently get fired, have a car accident, or a DUI?

These are a few questions to consider the impacts of on your auto insurance rate.

Put together a list of big changes you’ve been through in the past year and be sure them to show them to the insurance reps you come into contact with.

7. Have a good credit score

This one is big, and it’s doesn’t just get fixed overnight.

One of the primary ways to ensure you can get financially sound vehicle insurance in New Jersey is to pay your bills on time and regularly, have no dept, and stable employment.

Follow these standard procedures, stay consistent, and pay off as much as you can to receive the most benefits of having good credit.

8. See if you can get a higher deductible

Having a higher deductible can help reduce your car insurance premiums.

For those not familiar, a deductible is a specified amount of money you pay before your insurance company will pay your claim. The amount of money that an individual or business has to pay for an insurance policy is the premium.

Even though it may require you to pay more up front if you’re in an auto accident, down the road you might have to pay less.

9. Ask about usage-based discounts

Some insurers offer programs that in exchange for driver tracking, you may receive a discount based on how much (or little) and how well you drive, along with when you drive.

There are also some options that allow you to pay-per-mile you drive. Check with each provider and see if these are viable options for your coverage.

10. Don’t be afraid to opt out of certain coverages

You shouldn’t feel the need to go for every component of auto insurance coverage. If there’s an aspect that makes little sense, don’t feel obligated to take it.

Certain insurance payments may end up costing you more than the actual value of your car, so it makes little sense to pay for them.

You might also receive coverage from other aspects of your health and other insurance policies.

11. Compare your quotes and make a final decision

Carefully weigh the pros and cons of all the quotes you received from each insurance provider.

One by one remove ones that don’t make financial sense out of the equation. Eventually, you’ll have one that offers you the best deal on auto insurance.

Contact that provider and proceed accordingly.

12. Review your policy to ensure you continue to get the best deal

Things change. Over the course of a year, you may make another major purchase or experience a life event. It’s recommended that you review your auto insurance policies every six months to a year.

At the six-month mark you may just want to check and make sure all the details are consistent, while after a year you might shop around again for the most affordable auto insurance in New Jersey.

Are you ready to review your current auto insurance policy so you can get the best rate for the year ahead? Follow the steps above and be sure to speak with a Schumacher Insurance agent about your coverage needs.