The words “economical” and “insurance” really shouldn’t be used together, especially when searching for the lowest insurance prices for low credit scores. In an attempt to save some money, let’s get started by showing you some things that determine car insurance rates, and see if we can help you reduce the cost of your next policy.
The car, truck, or SUV requiring insurance is probably the largest consideration when quoting the best cheap insurance for low credit scores. Vehicles with high performance, a lack of advanced safety features, or a history of substantial liability claims will cost quite a bit more to insure than more modest models.
The information below shows car insurance premiums for a handful of the cheaper automobiles to buy coverage for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX 4-Dr Sedan||$1,532|
|Hyundai Elantra GLS Touring Station Wagon||$1,538|
|Ford F-150 FX2 Super Cab 2WD||$1,564|
|Honda CR-V LX 2WD||$1,580|
|Ford Escape XLT 2WD||$1,586|
|Chevrolet Equinox LT AWD||$1,655|
|Ford Explorer Limited 4WD||$1,687|
|Chevrolet Impala LTZ||$1,743|
|Ford Edge Limited AWD||$1,751|
|Toyota Camry SE||$1,743|
|Hyundai Sonata GLS 4-Dr Sedan||$1,772|
|Jeep Grand Cherokee Limited 2WD||$1,775|
|Dodge Grand Caravan CV||$1,777|
|Toyota RAV4 Limited 2WD||$1,812|
|Chevrolet Malibu Hybrid||$1,817|
|Jeep Wrangler Unlimited Rubicon 4WD 4-Dr||$1,825|
|Ford F-350 Super Cab Harley Edition 2WD||$1,839|
|Nissan Rogue SL AWD||$1,860|
|Chevrolet Silverado Crew Cab Hybrid 2WD||$1,865|
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Table data represents single male driver age 40, 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, safe-driver, and homeowner. Price information does not factor in specific location which can affect coverage rates greatly.
Based upon the table data, cars like the Honda Accord, Hyundai Elantra, and Toyota Prius are most likely going to be the most affordable vehicles to insure for bad credit.
Locating cost effective auto insurance is tough enough, and figuring out which company offers the lowest-priced auto insurance rates for low credit scores will require more quotes for comparison. Every auto insurer uses slightly different criteria for establishing rates, so we need to take a look at the auto insurance companies with the overall cheapest rates in Jersey City, NJ.
It’s important that you understand Jersey City auto insurance rates are calculated based on many things which can substantially change the cost of your policy. This is why drivers need to compare many different companies to get the most affordable insurance rates for low credit scores. Auto insurance prices are impacted by many factors and change substantially, so the best price three years ago may now be an over-priced policy.
Find the Cheapest Auto Insurance in New Jersey
21st Century may offer some of the best car insurance rates in Jersey City at around $1,100 per year. This is $752 less than the average policy premium paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades also rank well as some of the cheapest Jersey City, NJ auto insurance companies.
As shown above, if you are a policyholder with Penn National and switched to 21st Century, you might see savings of upwards of $238. Drivers with Palisades might save as much as $282 a year, and The Hartford insureds might lower prices by up to $391 a year.
To find out how much you can save, click here or visit any of the companies below.
These policy rates are averaged for all drivers and vehicles in New Jersey and and are not figured with a specific vehicle garaging location for low credit scores. So the car insurance company that can offer you the best price may not even be in the top 19 companies shown above. That emphasizes why you need to compare rates from as many companies as possible using your own personal information and vehicle type.
The information below demonstrates how deductibles can influence yearly insurance costs when researching cheap insurance for low credit scores. Data assumes a married male driver, comprehensive and collision coverage, and no additional discounts are factored in.
A 50-year-old driver could pocket $336 a year by changing from a $100 deductible to a $500 deductible, or save $508 by changing to a $1,000 deductible. Even younger drivers, like the Age 20 chart data, could drop their prices as much as $1,114 or even more by using a higher deductible. If you make the decision to raise deductibles, it’s a good idea to have enough spare savings to enable you to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Discounts on Jersey City insurance
Insurance companies that provide policies for low credit scores may also provide premium discounts that may potentially lower prices by 35% or more if you are eligible to receive them. Companies and a summarized list of policyholder discounts can be found below.
- AAA discounts include pay-in-full, good driver, anti-theft, good student, and AAA membership discount.
- Progressive has discounts for online quote discount, multi-policy, multi-vehicle, continuous coverage, online signing, and homeowner.
- State Farm offers discounts for safe vehicle, student away at school, driver’s education, multiple policy, good student, defensive driving training, and passive restraint.
- Esurance offers premium reductions for renters, multi-policy, anti-theft, online quote, paid-in-full, and claim free.
- Nationwide policyholders can earn discounts including Farm Bureau membership, multi-policy, family plan, anti-theft, and good student.
The illustration below illustrates the difference between premium costs with and without discounts being applied to the rates. The costs are based on a male driver, a clean driving record, no at-fault accidents, New Jersey state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with anti-theft, vehicle safety, defensive driving course, multiple policy, accident-free, and safe-driver discounts applied. When these discounts are applied to the policy premium, theamount saved on auto insurance for low credit scores is 28% or $1,027.
The agencies below can most likely aid you in deciding which insurance coverage you need, as many people would rather have the advice of a professional agent when trying to find the best insurance rates for low credit scores. It’s not always simple to find coverage yourself, so insurance agents licensed in the state of New Jersey can give peace of mind knowing your policy gives you sufficient coverage at claim time.
To locate a Jersey City car insurance agency using an interactive map, click the button link following the list or click here to get price quotes now.
- All Insurance Services Inc
574 Newark Ave – Jersey City, NJ 07306 – (201) 963-8888
- Petrocci Agency
1674 John F. Kennedy Blvd # A – Jersey City, NJ 07305 – (201) 434-4760
- MOMS Insurance Agency
155 Martin Luther King Dr B – Jersey City, NJ 07305 – (201) 451-3200
- GG Insurance – Independent Insurance Agent
270 Marin Boulevard, Metropolis Towers Suite #14D – Jersey City, NJ 07302 – (800) 801-0394
How to find cheaper insurance for low credit scores
The list below details some of the better penny-pinching solutions that can help Jersey City drivers locate cheap coverage.
- Being accident-free can lower rates significantly
- Lower rates by purchasing a safer vehicle
- Earn a discount by not filing claims
- Multi-policy discounts save money
- Save money by only buying liability coverage for older vehicles
- Drive safely
- Compare quotes from other companies often
The last item on the list is incredibly significant, as we stressed in this write-up. Prices charged by car insurance companies in Jersey City change a lot, so don’t be unwilling to buy from a different company if a lower price can be found.
Sticking with a specific company is fine, but we do not recommend it if that loyalty results in overpaying hundreds of dollars year after year. If you have a few minutes, shop around to find cheaper auto insurance for low credit scores.