Sad but true, a large majority of consumers have stayed with the same insurance company for a minimum of four years, and practically 40% of auto insurance customers have never quoted auto insurance rates at all. Jersey City drivers could save roughly 40% each year just by getting comparison quotes, but they underestimate the amount of savings they would get if they swap their current policy for a cheaper one.
If saving money is your primary concern, then the best way to find lower priced car insurance rates in Jersey City is to compare prices once a year from different companies who can sell car insurance in New Jersey.
- First, learn about how companies set rates and the factors you can control to prevent expensive coverage. Many risk factors that result in higher prices like careless driving and a less-than-favorable credit rating can be eliminated by making small lifestyle or driving habit changes.
- Second, request price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can provide rates from one company like GEICO and State Farm, while independent agencies can provide price quotes from multiple companies.
- Third, compare the new rate quotes to your existing policy to see if switching to a new carrier will save money. If you find a better price and switch companies, verify that coverage does not lapse between policies.
- Fourth, notify your current company of your intent to cancel your current car insurance policy and submit the signed application along with the required initial payment to your new agent or company. As soon as coverage is bound, store the certificate of insurance in an easily accessible location in your vehicle.
One key aspect of rate comparisons is that you use the same deductibles and limits on every price quote and and to analyze as many companies as feasibly possible. Doing this enables a fair rate comparison and many rates to choose from.
Most companies like State Farm, GEICO and Progressive make it easy to get price estimates on the web. The process can be done by anyone as you simply type in your personal and coverage information as requested by the quote form. After the form is submitted, the company’s rating system sends out for your credit score and driving record and provides a quote based on many factors. Getting online rate quotes for Mercury Montego insurance in Jersey City makes it simple to compare prices and it’s also necessary to perform this step if you want to get affordable auto insurance pricing.
To fill out one form to compare multiple rates now, take a look at the companies shown below. To compare your current rates, we recommend you complete the form with your coverages exactly as shown on your declarations page. Doing this guarantees you will have a price comparison using the exact same coverages.
The companies in the list below have been selected to offer quotes in New Jersey. If you want cheaper car insurance in NJ, it’s a good idea that you compare several of them to find the cheapest car insurance rates.
Three main reasons to buy insurance
Despite the fact that insurance is not cheap in Jersey City, maintaining insurance is a good idea for several reasons.
- Just about all states have mandatory liability insurance requirements which means state laws require specific minimum amounts of liability if you don’t want to risk a ticket. 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 you took out a loan on your Montego, most lenders will make it mandatory that you have insurance to ensure the loan is repaid in case of a total loss. If the policy lapses, the bank may buy a policy for your Mercury for a lot more money and force you to pay the higher premium.
- Insurance protects not only your car but also your assets. Insurance will pay for medical transport and hospital expenses for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses if you are sued as the result of your driving. If mother nature or an accident damages your car, your insurance policy will pay to have it repaired.
The benefits of having insurance are definitely more than the cost, especially when you need to use it. On average, a vehicle owner in Jersey City is currently overpaying as much as $825 a year so it’s very important to do a rate comparison at least once a year to help ensure money is not being wasted.
Insurance policy specifics
Learning about specific coverages of a insurance policy aids in choosing which coverages you need at the best deductibles and correct limits. Insurance terms can be ambiguous and even agents have difficulty translating policy wording. These are the usual coverages offered by insurance companies.
Liability insurance
Liability insurance provides protection from damages or injuries you inflict on a person or their property in an accident. Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 15/30/5 that means you have $15,000 in coverage for each person’s injuries, a limit of $30,000 in injury protection per accident, and a limit of $5,000 paid for damaged property.
Liability can pay for claims such as repair bills for other people’s vehicles, bail bonds, medical expenses and legal defense fees. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible. New Jersey state minimum liability requirements are 15/30/5 but you should consider buying higher limits.
The chart below shows why buying minimum limits may not provide you with enough coverage.
Collision coverage protection
This coverage covers damage to your Montego resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.
Collision can pay for claims like backing into a parked car, colliding with a tree, hitting a mailbox, crashing into a building and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible on your Montego to get cheaper collision coverage.
UM/UIM Coverage
Your UM/UIM coverage protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your Mercury Montego.
Due to the fact that many New Jersey drivers only purchase the least amount of liability that is required (which is 15/30/5), it only takes a small accident to exceed their coverage. So UM/UIM coverage is very important.
Medical costs insurance
Coverage for medical payments and/or PIP reimburse you for expenses like rehabilitation expenses, hospital visits and funeral costs. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover you and your occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
Comprehensive or Other Than Collision
Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against claims such as hitting a bird, a broken windshield and hitting a deer. The highest amount your insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.
Quote often and quote early
In this article, we presented many tips how you can reduce Mercury Montego insurance auto insurance rates online in Jersey City. The most important thing to understand is the more quotes you get, the better your chances of lowering your premium rates. Consumers could even find that the best price on car insurance is with the least-expected company. These smaller insurers may have significantly lower premium rates on certain market segments as compared to the big name companies such as State Farm or Progressive.
Lower-priced car insurance in Jersey City is available on the web as well as from insurance agents, so you need to quote Jersey City auto insurance with both to have the best chance of lowering rates. Some insurance companies do not offer rates over the internet and many times these smaller companies prefer to sell through independent agents.
More learning opportunities
- Auto Crash Statistics (Insurance Information Institute)
- How Much is Jersey City Auto Insurance for a Chevrolet Silverado? (FAQ)
- How Much are Jersey City Auto Insurance Rates for Police Officers? (FAQ)
- What is Full Coverage? (Allstate)
- Liability Insurance Coverage (Nationwide)
- A Tree Fell on Your Car: Now What? (Allstate)