The words “low-priced” and “insurance” really don’t belong together, in particular when you are searching for the best car insurance rates for seniors. Because it’s so expensive, let’s take a look at some situations that can significantly affect car insurance prices, and come up with some ways to shave a little off the next policy you buy.
One of the many things that are used to help calculate the amount you pay each year for auto insurance is the neighborhood you call home in Jersey City. Regions with larger populations or more claims are more likely to pay higher prices, whereas areas with less crime or weather claims benefit from lower coverage costs.
The next table sorts the most expensive areas in New Jersey for seniors to purchase auto insurance in. Jersey City makes the list at #9 costing $2,276 for the average insured, which is about $190 monthly.
|Rank||City||Average Per Year|
|2||West New York||$2,531|
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Premium amounts are comparative as specific Jersey City garaging address can increase or decrease coverage prices substantially.
Deciding which company has the best insurance rates for seniors will take a little more work in order to find the best policy.
Every auto insurer has a proprietary formula for determining rates, so we’ll take a look at the insurance companies that tend to have lower prices in New Jersey. It’s important that readers know that Jersey City insurance rates are determined by lots of factors that will increase or decrease the price you pay. Improving your credit score, buying a different vehicle, or getting a speeding ticket can produce rate changes that can now make some companies cheaper than before.
Best Insurance Companies for Mature Drivers
|Rank||Company||Cost Per Year|
|3||New Jersey Manufacturers||$1,297|
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21st Century has some of the lowest car insurance rates in Jersey City at around $1,067 each year. Travelers, New Jersey Manufacturers, Penn National, and Palisades would also be considered some of the more affordable Jersey City, NJ insurance companies.
In the above example, if you are a policyholder with Palisades and switched to Travelers, you may see yearly savings of in the neighborhood of $191. Policyholders with California Casualty may save as much as $290 a year, and Allstate policyholders might reduce rates by $302 a year.
To see if you’re overpaying, click here to start a quote or quote rates from the companies below.
Understand that those policy prices are averaged for all ages of drivers and types of vehicles and do not take into consideration a specific location for seniors. So the car insurance company that fits your age and vehicle best may not even be in the top 19 companies shown above. That point stresses why you need to get auto insurance quotes using your own driver data and vehicle information.
The vehicle model you are seeking coverage for is one of the primary factors when quoting the most affordable car insurance for seniors. Vehicles with lower performance, an excellent safety record, or a track record of few liability claims will cost much less to insure than high performance models.
The information below presents insurance prices for a handful of the most cost-effective automobiles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$1,063|
|Honda CR-V EX 4WD||$1,089|
|Honda Accord EX-L 4-Dr Sedan||$1,155|
|Chevrolet Silverado LS Regular Cab 4WD||$1,162|
|Ford Explorer XLT AWD||$1,189|
|Chevrolet Impala LS||$1,228|
|Ford Edge SE AWD||$1,237|
|Volkswagen Jetta 2.0T Station Wagon||$1,246|
|Toyota Camry LE||$1,254|
|Toyota RAV4 2WD||$1,263|
|Dodge Grand Caravan Hero||$1,254|
|Toyota Tacoma Double Cab 4WD||$1,260|
|Chevrolet Equinox LS 2WD||$1,254|
|Ford F-150 Lariat Super Cab 4WD||$1,280|
|Honda Civic LX-S 4-Dr Sedan||$1,293|
|Hyundai Elantra Blue 4-Dr Sedan||$1,303|
|Ford Focus SES 4-Dr Sedan||$1,293|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,296|
|Toyota Corolla LE||$1,319|
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Data assumes married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Rates do not factor in specific location information which can impact premiums noticeably.
Based upon the table data, makes and models like the Ford Escape, Honda CR-V, and Honda Accord are the less-costly vehicles to insure for senior citizens.
Rate difference between full and liability-only coverage
Paying a lower price for insurance should be important to the majority of vehicle owners, and one way to save on the cost of insurance for seniors is to not buy comprehensive and collision coverage. The information below illustrates the comparison of auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rates are based on no violations or claims, $500 deductibles, single marital status, and no discounts are applied.
As an average, physical damage coverage on your policy costs $3,012 per year over having just liability coverage. Many people question if you should buy full coverage at all. There is no set rule of when to phase out full coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
There are some situations where dropping physical damage coverage is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should keep full coverage on your policy.
The example below illustrates how your choice of deductibles can impact yearly insurance costs when quoting cheap insurance for seniors. The rates are based on a married female driver, comprehensive and collision coverage, and no discounts are applied.
As shown above, a 40-year-old driver could lower rates by $328 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $496 by choosing a $1,000 deductible. Younger drivers, like the 20-year-old category, could roll back prices up to $814 each year by using a higher deductible. When using a larger deductible, it is necessary to have enough spare savings to allow you to pay the extra out-of-pocket expense that comes with higher deductibles.
How to find a good Jersey City insurance company
Ending up with a high-quality car insurance provider can be challenging considering how many different companies sell coverage in Jersey City. The company ratings displayed below can help you pick which auto insurance companies you want to consider comparing price quotes from.
The ratings below are only made up of companies with a nationwide focus, so companies that only write business in New Jersey or surrounding areas are not included in this list. If you’d like to compare prices from the insurers below and more, just click here.
Top 10 Large Auto Insurance Companies in Jersey City Ranked by Customer Satisfaction
- The Hartford – 93%
- Progressive – 90%
- 21st Century – 89%
- USAA – 87%
- Mercury Insurance – 87%
- State Farm – 87%
- Travelers – 87%
- Safeco Insurance – 86%
- AAA Insurance – 86%
- American Family – 85%
Top 10 Large Auto Insurance Companies in Jersey City Ranked by Claims Service
- Liberty Mutual
- State Farm
- 21st Century
- The Hartford
- Farmers Insurance
How to find budget-friendly auto insurance for seniors
It’s not impossible to find cheaper rates, and here are some penny-pinching ideas that can help New Jersey drivers quote cheaper car insurance.
- Higher credit scores can equal lower rates
- Do not get traffic violations
- Buy safe vehicles
- Maintain a safe distance and avoid accidents
- Do not file small claims
- Keep rates low by shopping around frequently
The last tip in the list is incredibly valuable, as was stressed in this piece. Prices in Jersey City vary greatly, so drivers shouldn’t be resistant to buy from a new company if a more affordable rate is found.
Having brand loyalty is commendable, but is isn’t recommended if your bullheadedness ends up costing you money that could be spent on other things. Take a few minutes and compare rates and find cheaper insurance for seniors.
The Jersey City, NJ, insurance agents below can aid you in deciding which coverages and limits you need, as some drivers wish to have professional advice when comparing insurance rates for seniors. It can be complicated to do it yourself, so getting professional guidance from a licensed agent can provide you satisfaction knowing you have adequate asset protection.
To find an auto insurance agency close to where you live, click the button at the bottom of the list.
07305, 701 NJ-440 – Jersey City, NJ 07304 – (201) 515-3499
Cheap Car Insurance Quotes Auto Newark NJ
268 W KINNEY ST – Newark, NJ 07103 – (888) 290-0635
45 Laidlaw Ave – Jersey City, NJ 07306 – (201) 659-6050
Allstate Insurance: Emad Soliman
844 Bergen Ave – Jersey City, NJ 07306 – (201) 332-6999