It goes without saying that car insurance companies want to keep your business as long as possible. Insureds who compare other prices will probably switch to a new company because there is a significant possibility of finding better rates. Surprisingly, a recent survey revealed that drivers who regularly shopped around saved an average of $850 each year compared to people who never shopped around for cheaper prices.
If finding discount rates on auto insurance in Jersey City is your objective, then having an understanding of the best ways to find and compare coverage rates can help simplify the process.
Truthfully, the best way to get low-cost auto insurance rates is to compare quotes once a year from providers who provide car insurance in Jersey City. Price quotes can be compared by following these steps.
- First, try to learn a little about how insurance companies determine prices and the measures you can control to keep rates down. Many rating factors that result in higher rates such as accidents, traffic violations, and an unacceptable credit rating can be remedied by improving your driving habits or financial responsibility. This article provides more ideas to help reduce prices and find hidden discounts.
- Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like GEICO or Allstate, while independent agencies can provide price quotes from multiple sources.
- Third, compare the new rate quotes to your current policy premium and determine if there is any savings. If you find better rates and make a switch, ensure coverage does not lapse between policies.
- Fourth, notify your current company to cancel your existing policy. Submit a down payment along with a completed application for the new coverage. Once coverage is bound, put the certificate of insurance in your vehicle.
One tip to remember is to use similar limits and deductibles on every quote request and and to get price quotes from as many different insurance providers as possible. Doing this helps ensure the most accurate price comparison and the best price quote selection.
If you already have coverage or just want to reduce your rates, use these techniques to get lower rates and possibly find even better coverage. Quoting the best-priced auto insurance policy in Jersey City can be fairly easy. You just have to understand the most efficient way to compare rates from many companies at once.
Finding a better price on insurance can be quick and easy. All you need to do is spend a little time to get quotes from some recommended companies.
The companies in the list below are ready to provide price comparisons in Jersey City, NJ. If multiple companies are listed, it’s a good idea that you compare several of them to get the best price comparison.
GMC Canyon insurance rate analysis
The rate information displayed below outlines estimates of coverage prices for GMC Canyon models. Having insight into how rates are established can be of help when making informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Canyon SLE Regular Cab 2WD||$410||$614||$630||$38||$188||$1,880||$157|
|Canyon SLE Ext Cab 2WD||$410||$746||$630||$38||$188||$2,012||$168|
|Canyon SLE Ext Cab Z71 2WD||$410||$746||$630||$38||$188||$2,012||$168|
|Canyon SLE Crew Cab 2WD||$410||$746||$630||$38||$188||$2,012||$168|
|Canyon SLE Regular Cab 4WD||$472||$614||$630||$38||$188||$1,942||$162|
|Canyon SLE Crew Cab Z71 2WD||$472||$746||$630||$38||$188||$2,074||$173|
|Canyon SLT Ext Cab 2WD||$472||$746||$630||$38||$188||$2,074||$173|
|Canyon SLE Ext Cab 4WD||$472||$614||$630||$38||$188||$1,942||$162|
|Canyon SLT Crew Cab 2WD||$472||$880||$630||$38||$188||$2,208||$184|
|Canyon SLE Ext Cab Z71 4WD||$472||$746||$630||$38||$188||$2,074||$173|
|Canyon SLE Crew Cab 4WD||$532||$746||$630||$38||$188||$2,134||$178|
|Canyon SLE Crew Cab Z71 4WD||$532||$746||$630||$38||$188||$2,134||$178|
|Canyon SLT Crew Cab 4WD||$532||$746||$630||$38||$188||$2,134||$178|
|Canyon SLT Ext Cab 4WD||$532||$746||$630||$38||$188||$2,134||$178|
|Get Your Own Custom Quote Go|
Data variables include single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Rate information does not factor in Jersey City location which can modify premiums considerably.
Physical damage deductibles: Should you raise them?
The hardest decision when buying coverage is which deductible level should you buy. The premium rates below help summarize how much more rates are when you select higher and lower coverage deductibles. The first set of rates uses a $250 deductible and the second set of prices uses a $500 deductible.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Canyon SLE Regular Cab 2WD||$324||$514||$480||$28||$144||$1,515||$126|
|Canyon SLE Ext Cab 2WD||$324||$626||$480||$28||$144||$1,627||$136|
|Canyon SLE Ext Cab Z71 2WD||$324||$626||$480||$28||$144||$1,627||$136|
|Canyon SLE Crew Cab 2WD||$324||$626||$480||$28||$144||$1,627||$136|
|Canyon SLE Regular Cab 4WD||$372||$514||$480||$28||$144||$1,563||$130|
|Canyon SLE Crew Cab Z71 2WD||$372||$626||$480||$28||$144||$1,675||$140|
|Canyon SLT Ext Cab 2WD||$372||$626||$480||$28||$144||$1,675||$140|
|Canyon SLE Ext Cab 4WD||$372||$514||$480||$28||$144||$1,563||$130|
|Canyon SLT Crew Cab 2WD||$372||$738||$480||$28||$144||$1,787||$149|
|Canyon SLE Ext Cab Z71 4WD||$372||$626||$480||$28||$144||$1,675||$140|
|Canyon SLE Crew Cab 4WD||$420||$626||$480||$28||$144||$1,723||$144|
|Canyon SLE Crew Cab Z71 4WD||$420||$626||$480||$28||$144||$1,723||$144|
|Canyon SLT Crew Cab 4WD||$420||$626||$480||$28||$144||$1,723||$144|
|Canyon SLT Ext Cab 4WD||$420||$626||$480||$28||$144||$1,723||$144|
|Get Your Own Custom Quote Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Canyon SLE Regular Cab 2WD||$264||$414||$480||$28||$144||$1,330||$111|
|Canyon SLE Ext Cab 2WD||$264||$504||$480||$28||$144||$1,420||$118|
|Canyon SLE Ext Cab Z71 2WD||$264||$504||$480||$28||$144||$1,420||$118|
|Canyon SLE Crew Cab 2WD||$264||$504||$480||$28||$144||$1,420||$118|
|Canyon SLE Regular Cab 4WD||$302||$414||$480||$28||$144||$1,368||$114|
|Canyon SLE Crew Cab Z71 2WD||$302||$504||$480||$28||$144||$1,458||$122|
|Canyon SLT Ext Cab 2WD||$302||$504||$480||$28||$144||$1,458||$122|
|Canyon SLE Ext Cab 4WD||$302||$414||$480||$28||$144||$1,368||$114|
|Canyon SLT Crew Cab 2WD||$302||$594||$480||$28||$144||$1,548||$129|
|Canyon SLE Ext Cab Z71 4WD||$302||$504||$480||$28||$144||$1,458||$122|
|Canyon SLE Crew Cab 4WD||$340||$504||$480||$28||$144||$1,496||$125|
|Canyon SLE Crew Cab Z71 4WD||$340||$504||$480||$28||$144||$1,496||$125|
|Canyon SLT Crew Cab 4WD||$340||$504||$480||$28||$144||$1,496||$125|
|Canyon SLT Ext Cab 4WD||$340||$504||$480||$28||$144||$1,496||$125|
|Get Your Own Custom Quote Go|
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Rate information does not factor in vehicle location which can influence premiums noticeably.
Based on the above data, using a $250 deductible will cost in the ballpark of $18 more each month or $216 every year than quoting the higher $500 deductible. Due to the fact that you would have to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you go at a minimum 14 months between claims, you would probably be better off by going with a higher deductible.
Calculation for raising deductibles
|Average monthly premium for $250 deductibles:||$139|
|Average monthly premium for $500 deductibles (subtract):||– $121|
|Monthly savings from raising deductible:||$18|
|Difference between deductibles ($500 – $250):||$250|
|Divide difference by monthly savings:||$250 / $18|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||14 months|
One important caveat is that raising deductibles results in more money out-of-pocket when you file a claim. You will want to have a higher level of savings in the event you have to pay the deductible for vehicle repair.
The chart below illustrates how your deductible choice and can change GMC Canyon insurance prices for different age categories. The price estimates are based on a single male driver, comp and collision included, and no policy discounts are applied.
Difference between liability only and full coverage rates
The example below shows the difference between GMC Canyon yearly insurance costs when comparing full coverage to state minimum liability only. The premiums assume no claims or driving violations, $250 deductibles, marital status is single, and no additional discounts are factored in.
When to buy liability coverage only
There is no clear-cut rule for eliminating physical damage coverage on your policy, but there is a general convention. If the annual cost of having full coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s say your GMC Canyon replacement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $2,000 after paying your deductible. If you are paying more than $200 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are some cases where only buying liability is not advised. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should maintain full coverage.
Insurance is not optional
Despite the high cost, insuring your vehicle may be required for several reasons.
- Most states have mandatory liability insurance requirements which means state laws require a specific level of liability coverage in order to license the vehicle. In New Jersey these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If your Canyon has a loan, more than likely the lender will make it mandatory that you carry insurance to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your GMC at an extremely high rate and require you to fork over the higher premium.
- Insurance preserves your GMC and your assets. Insurance will pay for all forms of medical expenses incurred in an accident. One policy coverage, liability insurance, will also pay attorney fees if you are sued as the result of your driving. If your car is damaged in a storm or accident, your insurance policy will pay to repair the damage.
The benefits of carrying enough insurance greatly outweigh the cost, especially if you ever need it. According to a recent study, the average American driver is overpaying more than $830 a year so compare rates at every renewal to ensure rates are inline.
Eight Tips to Get Cheaper Jersey City Insurance Prices
Lots of things are part of the calculation when pricing auto insurance. Some are obvious such as your driving history, but some are less apparent such as your marital status or your vehicle rating.
Shown below are some of the things used by your company to calculate your rate level.
Multiple policies with one company – Most larger companies provide lower prices to policyholders that purchase more than one policy, otherwise known as a multi-policy discount. Even if you qualify for this discount already, you still need to compare other Jersey City Canyon insurance rates to verify if the discount is saving money. You may still find better rates by buying insurance from a different company.
Is your vehicle built for speed? – The performance of the vehicle you are insuring makes a huge difference in your rates. Low performance passenger models usually have the lowest premiums, but the cost you end up paying is determined by many additional factors.
The next chart uses these assumptions: married female driver age 40, full coverage with $1000 deductibles, and no discounts or violations. It compares GMC Canyon policy rates compared to other models that have a range of performances.
Frequent insurance claims will cost you more – If you file a lot of claims you can pretty much guarantee increased rates or even have your policy non-renewed. Car insurance companies in New Jersey generally give the lowest premiums to drivers who do not rely on their insurance for small claims. Auto insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
Incidental coverages can add up – There are quite a few extra add-on coverages you can purchase on your insurance policy. Insurance for roadside assistance, high-cost glass coverage, and extra life insurance coverage are examples of these. They may seem good when you first buy your policy, but your money might be better spent on other coverage so eliminate the coverages to reduce your premium.
Lower rates for safer vehicles – Cars with five star safety ratings are cheaper to insure. Vehicles engineered for safety result in less severe injuries and fewer injuries means less money paid by your insurance company and thus lower rates. If the GMC Canyon scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website it may cost less to insure.
High comp and collision deductibles cost less – Deductibles for physical damage represent how much money you are willing to pay before your insurance pays a claim. Protection for physical damage, also called comprehensive and collision insurance, insures against damage to your car. Some coverage claims are colliding with a stationary object, damage from fire, or theft of your vehicle. The more you’re willing to pay, the less your insurance will be.
Women tend to be lower risk – Over the last 50 years, statistics have shown women are more cautious behind the wheel. However, don’t assume that men are worse drivers. Both sexes are responsible for at-fault accidents at about the same rate, but guys get into accidents with more damage. They also get more serious tickets like DUI and reckless driving. Teenage male drivers are the most expensive to insure and therefore have the most expensive insurance rates.
The example below shows the comparison of GMC Canyon insurance costs for male and female drivers. The information is based on no accidents, no driving violations, full coverage, $250 deductibles, single status, and no discounts are factored in.
Better rates with anti-theft devices – Purchasing a vehicle with advanced anti-theft systems can help lower your premiums. Anti-theft devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart auto theft and help lower rates.
Insurance losses for a GMC Canyon – Companies include the past claim history for a vehicle when setting rates for each model. Vehicles that are shown to have a trend towards higher claim severity or frequency will have increased rates. The table below shows the collected loss data for GMC Canyon vehicles.
For each policy coverage, the claim amount for all vehicles, as a total average, is considered to be 100. Values that are below 100 imply a favorable loss record, while numbers above 100 indicate frequent claims or larger claims.
|Specific GMC Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|GMC Canyon Crew Cab 2WD||54||88|
|GMC Canyon Crew Cab 4WD||44||71|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Don’t overlook these GMC Canyon insurance discounts
The price of auto insurance can be rather high, but companies offer discounts that you may not even know about. Certain credits will be shown when you purchase, but a few must be specifically requested before you will receive the discount.
- Theft Prevention System – Vehicles equipped with anti-theft or alarm systems are stolen with less frequency and therefore earn up to a 10% discount.
- Student Discounts – Being a good student can earn a discount of 20% or more. Many companies even apply the discount to college students well after school through age 25.
- Anti-lock Brake System – Cars, trucks, and SUVs that have steering control and anti-lock brakes have fewer accidents and qualify for as much as a 10% discount.
- Claim-Free Discount – Drivers with accident-free driving histories can earn big discounts compared to accident-prone drivers.
- Own a Home and Save – Just being a homeowner may earn you a small savings because owning a home shows financial diligence.
- Drive Safe and Save – Insureds without accidents can save up to 40% or more on their Jersey City auto insurance quote compared to accident prone drivers.
- Low Mileage – Maintaining low annual mileage can qualify you for better premium rates on cars that stay parked.
- Waiver for an Accident – This one is not really a discount per se, but a handful of insurance companies allow you one accident without raising rates as long as you don’t have any claims for a set time period.
A little disclaimer on discounts, most credits do not apply to all coverage premiums. The majority will only reduce individual premiums such as collision or personal injury protection. So despite the fact that it appears you would end up receiving a 100% discount, companies don’t profit that way.
The illustration below compares GMC Canyon premium costs with and without discounts applied to the rates. The data is based on a female driver, no accidents, no driving violations, New Jersey state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, homeowner, safe-driver, multi-policy, claim-free, and multi-car discounts applied.
If you would like to see a list of companies who offer insurance discounts in New Jersey, click here.
Do I just need basic coverages?
Always remember that when buying the best car insurance coverage, there isn’t really a single plan that fits everyone. Each situation is unique and your car insurance should unique, too.
For instance, these questions might point out whether you could use an agent’s help.
- Are combined or split liability limits better?
- Is my custom stereo system covered?
- What policy terms are available?
- Am I better off with higher deductibles on my GMC Canyon?
- Is a new car covered when I drive it off the dealer lot?
- I have good health insurance, so how much medical payments coverage do I need?
- How much can I save by bundling my policies?
- Do I need rental car coverage?
- Is my camper covered for physical damage?
- Should I buy more coverage than the required New Jersey minimum liability coverage?
If you can’t answer these questions but a few of them apply, you may need to chat with an agent. If you don’t have a local agent, fill out this quick form or click here for a list of car insurance companies in your area. It’s fast, doesn’t cost anything and you can get the answers you need.
When to contact a local insurance agent
Some consumers would prefer to talk to a local agent and there is nothing wrong with that. Insurance agents can help determine the best coverages and help you file claims. A nice benefit of comparing insurance prices online is you can get lower prices and still buy from a local agent. And supporting small agencies is important particularly in Jersey City.
To help locate an agent, after submitting this short form, your insurance data is immediately sent to participating agents in Jersey City who will gladly provide quotes for your business. There is no need to drive around as quotes are delivered immediately to you. If you have a need to get a rate quote from a specific insurance provider, you would need to navigate to their website and submit a quote form there.
If you need to find a reputable agency, it’s helpful to know the different types of agencies and how they can quote your rates. Agents can be categorized as either independent agents or exclusive agents depending on their employer. Either one can sell and service insurance coverage, but it’s worth learning the subtle differences since it may influence which type of agent you select.
Independent Insurance Agencies
Independent agencies do not sell for just one brand and that enables them to quote your coverage with multiple insurance companies and help determine which has the cheapest rates. If you are not satisfied with one company, they simply move the coverage in-house without you having to go to a different agency.
When shopping rates, it’s a good idea to contact at least one independent agent for the best price selection. Many write coverage with smaller regional carriers which may have better rates.
Featured below is a short list of independent agencies in Jersey City that may be able to provide rate quotes.
- Preferred Choice Insurance Agency
225 Newark Ave – Jersey City, NJ 07302 – (201) 616-7644 – View Map
- Coe Insurance
2330 John F. Kennedy Blvd – Jersey City, NJ 07304 – (201) 435-4300 – View Map
- Petrocci Agency
1674 John F. Kennedy Blvd # A – Jersey City, NJ 07305 – (201) 434-4760 – View Map
Agents that choose to be exclusive work for only one company and some examples include State Farm, AAA, Farmers Insurance or Allstate. Exclusive agents cannot compare rates from other companies so they really need to provide good service. Exclusive agents are highly trained on their products and sales techniques and that can be a competitive advantage. Many people buy from the same agent for years mainly due to the brand name and solid financial strength.
Shown below are exclusive agents in Jersey City that are able to give comparison quotes.
- Tawanda Jackson – State Farm Insurance Agent
688 NJ-440 – Jersey City, NJ 07305 – (201) 209-0290 – View Map
- Farmers Insurance – Mofalc Meinga
447 Central Ave – Jersey City, NJ 07307 – (201) 435-1616 – View Map
- Joe Nachbaur – State Farm Insurance Agent
505 Central Ave – Jersey City, NJ 07307 – (201) 222-8866 – View Map
Selecting a car insurance agent requires you to look at more than just a low price. The following questions are important to ask.
- Do you work with a CSR or direct with the agent?
- Do they get paid more for recommending certain coverages?
- Do they have a Better Business Bureau rating in Jersey City?
- Do they have 24-hour customer assistance?
- Do you need full coverage on every vehicle?
- How will an accident affect your rates?
If you receive positive responses for all questions you ask as well as an affordable premium quote, it’s possible that you found a car insurance agent that can adequately provide insurance. Just remember once you purchase a policy you can cancel your coverage when you choose so never feel you are locked into the insurance policy for the full policy term.
Shop around and save
Cost effective GMC Canyon insurance can be sourced online and from local agencies, so you should compare both to get a complete price analysis. Some car insurance companies may not have the ability to get a quote online and many times these regional insurance providers prefer to sell through local independent agencies.
When you buy Jersey City auto insurance online, do not buy less coverage just to save a little money. Too many times, drivers have reduced liability coverage limits and found out when filing a claim that it was a big error on their part. Your goal is to buy the best coverage you can find at the best cost, but do not skimp to save money.
Even more information is located by following these links:
- Alcohol Impaired Driving FAQ (iihs.org)
- Who Has the Cheapest Auto Insurance Quotes for Young Drivers in Jersey City? (FAQ)
- Teen Driver Statistics (Insurance Information Institute)
- Teen Driving Statistics (GEICO)