It’s well known that auto insurance companies don’t want you to look at other companies. People who compare price quotes are very likely to switch companies because of the high probability of finding lower prices. Remarkably, a study showed that drivers who regularly shopped around saved $865 a year compared to those who don’t make a habit of comparing rates.
If saving money on car insurance in Jersey City is the reason you’re reading this, then learning about how to find and compare coverage rates can save time and money.
It takes a few minutes, but the best way to get low-cost auto insurance rates is to start comparing prices yearly from companies in Jersey City. Prices can be compared by completing these steps.
First, read about individual coverages and the changes you can make to keep rates down. Many things that result in higher rates like traffic citations and an imperfect credit rating can be controlled by paying attention to minor details. Read the full article for information to help prevent costly coverage and find discounts that may have been missed.
Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from a single company like GEICO or State Farm, while independent agencies can provide price quotes for a wide range of companies. Start a quote
Third, compare the new rates to your existing rates and determine if there is any savings. If you find a better price and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
Fourth, notify your current company to cancel your existing policy. Submit a completed application and payment to your new insurance company. Once received, place the new proof of insurance certificate with your registration paperwork.
One thing to remember is to make sure you enter identical limits and deductibles on each price quote and and to look at as many different insurance providers as possible. Doing this helps ensure a level playing field and and a good selection of different prices.
This article will instruct you on the best methods to compare rates. If you already have coverage, you should be able to get lower rates using these methods. Drivers only have to learn the most time-saving way to quote multiple rates instantly.
Best companies for low-cost Chevy Malibu insurance in New Jersey
The providers in the list below are our best choices to provide free quotes in New Jersey. In order to find cheaper car insurance in Jersey City, we suggest you compare several of them in order to find the most affordable rates.
Insurance rate breakdown
The premium information below showcases detailed analysis of insurance coverage prices for Chevy Malibu models. Having knowledge of how insurance prices are calculated is important for you to make informed decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Prices do not factor in vehicle garaging location which can alter coverage prices noticeably.
Cost comparison with and without full coverage
The illustration below shows the difference between Chevy Malibu car insurance rates with and without physical damage coverage. The prices are based on no tickets, no at-fault accidents, $500 deductibles, marital status is single, and no other discounts are factored in.
When to eliminate full coverage
There is no specific rule for excluding full coverage on your policy, but there is a broad guideline. If the annual cost of coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s pretend your Chevy Malibu replacement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $4,000 after paying your deductible. If it’s costing in excess of $400 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are some circumstances where removing full coverage is not a good idea. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to keep the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.
Save a ton on Chevy Malibu insurance in Jersey City with these discounts
Insurance is not cheap nor is it fun to buy but you might be missing out on some discounts to help offset the cost. A few discounts will be applied when you quote, but occasionally some discounts must be requested specifically before you will receive the discount.
- Policy Bundle Discount – If you insure your home and vehicles with one company you could earn a discount of as much as 10 to 15 percent.
- New Car Discount – Putting insurance on a new Malibu can get you a discount because newer models have to meet stringent safety requirements.
- Multiple Vehicles – Drivers who insure multiple vehicles with the same insurance company can get a discount on all vehicles.
- Jersey City Homeowners Discount – Owning a house in Jersey City can get you a discount because owning a home requires personal responsibility.
- Military Deployment Discount – Being on active deployment in the military could mean lower insurance rates.
Just know that some credits don’t apply to the entire policy premium. Most cut the cost of specific coverages such as liability, collision or medical payments. Just because you may think you would end up receiving a 100% discount, it doesn’t quite work that way.
The chart below compares Chevy Malibu insurance prices with and without some available policy discounts. The price estimates are based on a female driver, no claims or violations, New Jersey state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-policy, multi-car, homeowner, and marriage discounts applied.
Larger insurance companies and some of the discounts can be found below.
- State Farm offers discounts for multiple policy, student away at school, good student, passive restraint, safe vehicle, and good driver.
- GEICO includes discounts for anti-lock brakes, federal employee, defensive driver, military active duty, membership and employees, and five-year accident-free.
- Progressive has discounts for continuous coverage, multi-policy, online quote discount, good student, and multi-vehicle.
- 21st Century discounts include defensive driver, air bags, teen driver, anti-lock brakes, 55 and older, and good student.
- American Family policyholders can earn discounts including good driver, early bird, mySafetyValet, defensive driver, air bags, bundled insurance, and multi-vehicle.
- The Hartford may offer discounts for air bag, defensive driver, driver training, good student, bundle, anti-theft, and vehicle fuel type.
- AAA offers discounts including multi-policy, multi-car, AAA membership discount, education and occupation, good student, good driver, and anti-theft.
Double check with all companies you are considering to apply every possible discount. Discounts may not apply to policyholders in Jersey City. To locate insurers with the best Chevy Malibu insurance discounts in New Jersey, click here to view.
How You Can Control Chevy Malibu Insurance Rates
Lots of factors are part of the calculation when you quote your car insurance policy. Some of the criteria are obvious like an MVR report, but some are not quite as obvious such as whether you are married or how safe your car is.
Listed below are a few of the things that factor into your premiums.
- Too many claims drive up rates – If you tend to file frequent claims, you can pretty much guarantee either higher rates or even cancellation. Auto insurance companies in New Jersey provide lower rates to insureds who do not file claims often. Auto insurance is intended to be relied upon for more catastrophic claims.
Poor driving leads to higher premiums – Good drivers pay lower auto insurance prices compared to bad drivers. Even one speeding ticket may cause rates to rise by as much as twenty percent. Drivers who get multiple citations like hit and run, DWI or reckless driving convictions are required to prove financial responsibility to the state department of motor vehicles in order to drive a vehicle legally.
The chart below shows how speeding tickets and at-fault fender-benders drive up Chevy Malibu yearly insurance costs for different categories of driver ages. The rates are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no policy discounts are applied.
Women tend to cost less – Over the last 50 years, statistics have shown that females tend to be a little less risky than males. However, this does not mean women are BETTER drivers than men. Both genders have at-fault accidents at a similar rate, but the men have costlier accidents. They also get cited for more serious violations such as reckless driving.
The information below illustrates the comparison of Chevy Malibu insurance prices for male and female drivers. The premiums assume a clean driving record, no at-fault accidents, full coverage, $250 deductibles, marital status is single, and no policy discounts are applied.
- Protect yourself with liability coverage – Your policy’s liability coverage kicks in if ever you are found to be at fault for causing damage or personal injury in an accident. It provides legal defense which can be incredibly expensive. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so buy as much as you can afford.
- Married people drive safer – Your spouse may save some money on auto insurance. Having a spouse usually means you are more mature it has been statistically shown that drivers who are married are more cautious.
- Rates can drop if you have more than one policy – Most companies will give better rates to buyers who buy several policies from them, otherwise known as a multi-policy discount. Even if you already get this discount, consumers should still compare other Jersey City Malibu insurance rates to help guarantee you have the best rates.
- Premiums are affected by your credit rating – Your credit score is a big factor in calculating your auto insurance rates. Therefore, if your credit rating is lower than you’d like, you could pay less to insure your Chevrolet Malibu by spending a little time repairing your credit. Insureds with excellent credit tend to be better risks to insure as compared to drivers with lower credit ratings.
- Lower auto insurance rates with alarms and GPS tracking – Buying a car with a theft deterrent system can save you a little every year. Advanced theft deterrents like GM’s OnStar, tamper alarm systems and vehicle immobilizers all help stop your vehicle from being stolen.
Insurance loss data for a Chevy Malibu – Insurance companies use data from past claims as a tool for profitable underwriting. Vehicles that the data determines to have high amounts or severity of claims will cost more for coverage.
The table below outlines the loss history for Chevy Malibu vehicles. For each policy coverage type, the statistical loss for all vehicles, as a total average, is considered to be 100. Values below 100 imply a favorable loss record, while values over 100 indicate more frequent claims or an increased probability of a larger loss.
Chevrolet Malibu Insurance Claim Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Malibu 94 100 109 139 145 120BETTERAVERAGEWORSE
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When to talk to an insurance agency
Some consumers would rather buy from a local agent and that can be a great decision Licensed agents are highly skilled in risk management and help file insurance claims. One of the great benefits of comparing rates online is you can get cheaper premium rates but also keep your business local. Supporting neighborhood insurance agencies is especially important in Jersey City.
Upon completion of this quick form, your insurance coverage information is immediately sent to local insurance agents that can provide free Jersey City car insurance quotes and help you find cheaper coverage. You won’t need to contact any agents because prices are sent directly to you. If for some reason you want to quote rates from a specific company, you just need to visit that company’s website to submit a rate quote request.
Finding the right insurer should depend on more than just a low price. Here are some questions you might want to ask.
- Does the company allow you to choose your own collision repair facility?
- Is the agency involved in supporting local community causes?
- Did they already check your driving record and credit reports?
- Is the agency covered by Errors and Omissions coverage?
- Do they get extra compensation for selling add-on coverages?
Keep this in mind when shopping around
As you go through the steps to switch your coverage, make sure you don’t buy poor coverage just to save money. There have been many situations where consumers will sacrifice full coverage to discover at claim time that their decision to reduce coverage ended up costing them more. The proper strategy is to get the best coverage possible for the lowest price, but do not skimp to save money.
Lower-priced Chevy Malibu insurance in Jersey City can be found from both online companies and also from your neighborhood Jersey City agents, and you need to comparison shop both in order to have the best price selection to choose from. Some insurance companies may not offer online quoting and usually these regional carriers only sell coverage through independent insurance agents.
In this article, we covered many ways to shop for Chevy Malibu insurance online. The key thing to remember is the more price quotes you have, the better your comparison will be. Consumers could even find that the best price on insurance is with a small local company.
For more information, take a look at the following helpful articles:
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- How Much are Auto Insurance Rates for College Graduates in Jersey City? (FAQ)
- Who Has Affordable Car Insurance Rates for Ride Shares in Jersey City? (FAQ)
- Who Has Affordable Jersey City Auto Insurance for a Toyota RAV4? (FAQ)
- Auto Insurance FAQ (Farmers Insurance)
- How to Avoid Common Accidents (State Farm)