Unthinkable but true, the vast majority of consumers kept their coverage with the same insurance company for more than four years, and just short of a majority have never quoted rates to find lower-cost coverage. Most drivers in Jersey City can save hundreds of dollars each year just by shopping around, but they don't want to spend time to do a rate comparison.
It takes a little time, but the best way to get more affordable Mitsubishi Lancer insurance is to compare prices annually from insurance carriers in Jersey City.
- Step 1: Spend a few minutes and learn about what coverages are included in your policy and the things you can control to lower rates. Many rating criteria that result in higher prices such as multiple speeding tickets and a less-than-favorable credit history can be improved by paying attention to minor details.
- Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can give quotes from a single company like GEICO and Allstate, while independent agencies can quote prices for a wide range of insurance providers.
- Step 3: Compare the new quotes to the price on your current policy to see if cheaper Lancer coverage is available. If you find a lower rate quote and buy the policy, ensure coverage does not lapse between policies.
An essential thing to point out is that you use identical coverage information on every quote request and and to get price quotes from as many different insurance providers as possible. This provides a level playing field and maximum price selection.
Most major insurance companies like Progressive, Allstate and GEICO allow consumers to get coverage price quotes directly from their websites. The process is easy for anyone because it's just a matter of typing in your coverage information as detailed in the form. When complete, the company's rating system pulls your credit score and driving record and returns pricing information based on these and other factors. Being able to quote online for Mitsubishi Lancer insurance in Jersey City simplifies rate comparisons, and it's also necessary to do this in order to find affordable prices.
To save time and compare rates now, consider comparing rates from the companies shown below. If you have coverage now, it's recommended you copy the insurance coverages as shown on your current policy. This helps ensure you will have an apples-to-apples comparison for similar insurance coverage.
The companies shown below have been selected to offer comparison quotes in New Jersey. To locate the cheapest auto insurance in Jersey City, NJ, it's highly recommended you click on several of them to get the most affordable price.
Mitsubishi Lancer coverage statistics
The rate table below outlines a range of prices for Mitsubishi Lancer models. Learning more about how insurance policy premiums are calculated can be of help when making decisions when shopping around.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Lancer Sportback GTS||$280||$524||$490||$30||$146||$1,470||$123|
|Lancer Sportback Ralliart||$308||$592||$490||$30||$146||$1,566||$131|
|Get Your Own Custom Quote Go|
Premium data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Price information does not factor in garaging location in Jersey City which can influence premium rates significantly.
Impact of violations and accidents on rates in Jersey City
The diagram below illustrates how violations and accident claims can increase Mitsubishi Lancer insurance costs for different insured age categories. The premiums assume a married female driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.
Mitsubishi Lancer insurance premiums by gender in Jersey City
The information below compares Mitsubishi Lancer insurance costs for male and female drivers. The prices are based on no tickets, no at-fault accidents, comp and collision included, $500 deductibles, drivers are not married, and no discounts are applied.
Full coverage versus liability only rates
The illustration below shows the comparison of Mitsubishi Lancer yearly insurance costs when comparing full coverage to state minimum liability only. The information is based on a clean driving record, no claims, $1,000 deductibles, single status, and no discounts are factored in.
Are you wasting money paying for full coverage?
There isn't a written rule to stop buying physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let's assume your Mitsubishi Lancer settlement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $2,000 after paying the physical damage deductible. If you are paying over $200 annually to have full coverage, then it might be time to consider dropping full coverage.
There are some situations where removing full coverage is not recommended. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle if your current one is damaged, you should not drop full coverage.
Car insurance is not optional but you don't have to overpay
Despite the high insurance cost for a Mitsubishi Lancer in Jersey City, insurance is not optional due to several reasons.
- The majority of states have minimum liability requirements which means you are required to carry a specific level of liability 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 you bought your Mitsubishi with a loan, most lenders will require you to have full coverage to ensure loan repayment if the vehicle is totaled. If you do not keep the policy in force, the lender may have to buy a policy to insure your Mitsubishi at a significantly higher premium and require you to pay for it.
- Car insurance preserves not only your Mitsubishi Lancer but also your assets. Insurance will pay for medical expenses for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance will also pay for a defense attorney in the event you are sued. If your car is damaged in a storm or accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.
The benefits of carrying adequate insurance greatly outweigh the cost, especially when you need to use it. Today the average American driver overpays as much as $800 each year so we recommend shopping around at every policy renewal to be sure current rates are still competitive.
These eight discounts can slash Mitsubishi Lancer insurance rates
Companies offering auto insurance do not list every discount they offer in an easy-to-find place, so the list below contains some of the best known as well as the least known savings tricks you should be using when you buy Jersey City auto insurance online.
- Student Discounts - Getting good grades may save as much as 25% on a Jersey City auto insurance quote. Many companies even apply the discount to college students until age 25.
- Driving Data Discount - Drivers that enable their insurance company to study when and where they use their vehicle by using a telematics device like In-Drive from State Farm and Progressive's Snapshot might get better premium rates as long as they are good drivers.
- No Claims - Jersey City drivers who stay claim-free pay less when compared with accident-prone drivers.
- Jersey City Homeowners Discount - Owning your own home or condo may earn you a small savings because of the fact that having a home shows financial diligence.
- New Car Discount - Buying a new car instead of a used Lancer can cost up to 25% less because newer models keep occupants safer.
- Waiver for an Accident - This one is not really a discount per se, but a few companies such as Allstate and State Farm will forgive one accident before they charge you more for coverage as long as you don't have any claims before the accident.
- Multiple Cars - Drivers who insure multiple cars with one company qualifies for this discount.
- Drive Less and Save - Maintaining low annual mileage could be rewarded with substantially lower prices.
Drivers should understand that some credits don't apply to the overall cost of the policy. Most only reduce the cost of specific coverages such as physical damage coverage or medical payments. Even though the math looks like you could get a free insurance policy, you won't be that lucky. But any discount will cut the premium cost.
The example below compares Mitsubishi Lancer insurance rates with and without discounts applied to the rates. The premium estimates are based on a female driver, a clean driving record, no at-fault accidents, New Jersey state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, multi-policy, claim-free, marriage, and multi-car discounts applied.
Companies and a partial list of their discounts are included below.
- Esurance may include discounts for defensive driver, renters, multi-car, online quote, and good student.
- The Hartford offers discounts for air bag, defensive driver, vehicle fuel type, good student, and driver training.
- AAA includes discounts for multi-policy, multi-car, anti-theft, AAA membership discount, pay-in-full, and education and occupation.
- GEICO may offer discounts for multi-policy, emergency military deployment, membership and employees, five-year accident-free, multi-vehicle, air bags, and federal employee.
- State Farm has savings for safe vehicle, driver's education, passive restraint, Steer Clear safe driver discount, defensive driving training, good driver, and student away at school.
When comparing rates, check with every prospective company to apply every possible discount. Some credits may not apply to policyholders in Jersey City. If you would like to see a list of companies that offer discounts in Jersey City, click here to view.
Auto insurance quotes from local neighborhood Jersey City car insurance agents
Some consumers still like to go talk to an agent and that can be a smart move A good thing about getting online price quotes is the fact that drivers can get lower car insurance rates and still have a local agent.
To find an agent, once you fill out this short form, the coverage information is instantly submitted to participating agents in Jersey City who can give free rate quotes to get your business. There is no reason to search for any insurance agencies as quotes are delivered to you directly. You'll get the best rates without requiring a lot of work. In the event you want to get a price quote from a particular provider, feel free to find their quoting web page to submit a rate quote request.
Picking the best provider needs to be determined by more than just the quoted price. The questions below may impact your decision as well.
- How many years of experience in personal auto insurance do they have?
- Can glass claims be handled at your home?
- Will they make sure you get an adequate claim settlement?
- Does the agent have a valid license to sell insurance in New Jersey?
- Who are their largest clients?
- Does the agency have a positive business rating?
- Who is covered by the car insurance policy?
- If you have an accident, will your rates go up?
The difference between Jersey City car insurance agents
If you prefer to buy auto insurance from a local agent, there are two different types of agencies and how they can write your policy. Auto insurance policy providers can be classified as either exclusive or independent agents depending on their company appointments.
Exclusive Insurance Agents
Agents of this type write business for a single company like Farmers Insurance or State Farm. Exclusive agents cannot provide other company's prices so they have no alternatives for high prices. Exclusive agents are highly trained in insurance sales which can be an advantage.
Listed below are Jersey City exclusive agencies that are able to give comparison quotes.
Independent Insurance Agents
Agents of this type are not restricted to one company so as a result can place your coverage amongst many companies and help determine which has the cheapest rates. If they find a cheaper price, your policy is moved internally and you don't have to find a new agent. If you are comparing rate quotes, we highly recommend that you get some free quotes from a couple of independent agencies to get the best comparison.
Below is a list of independent agencies in Jersey City willing to provide comparison quotes.
243 Central Ave # 1 - Jersey City, NJ 07307 - (201) 721-6081 - View Map
GG Insurance - Independent Insurance Agent
270 Marin Boulevard, Metropolis Towers Suite #14D - Jersey City, NJ 07302 - (800) 801-0394 - View Map
Lou Schloss Agency Inc
31 River Ct - Jersey City, NJ 07310 - (201) 626-7589 - View Map
Once you have received positive feedback to any questions you may have as well as a affordable price, it's possible that you found an auto insurance agent that meets the criteria to insure your vehicles. Keep in mind once you purchase a policy you can terminate coverage whenever you wish so never feel you're contractually obligated to a specific agent with no way to switch.
Car insurance coverage information
Understanding the coverages of your auto insurance policy can be of help when determining which coverages you need for your vehicles. The coverage terms in a policy can be confusing and coverage can change by endorsement. These are the usual coverages found on the average auto insurance policy.
This coverage will pay to fix damage that is not covered by collision coverage. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims such as hitting a bird, hail damage, a broken windshield and hitting a deer. The most you can receive from a comprehensive claim is the actual cash value, so if it's not worth much more than your deductible consider removing comprehensive coverage.
Auto collision coverage
This coverage pays for damage to your Lancer resulting from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.
Collision insurance covers things like hitting a parking meter, damaging your car on a curb, driving through your garage door, colliding with a tree and rolling your car. This coverage can be expensive, so consider removing coverage from vehicles that are older. Drivers also have the option to raise the deductible on your Lancer in order to get cheaper collision rates.
Uninsured/Underinsured Motorist coverage
Your UM/UIM coverage protects you and your vehicle when other motorists do not carry enough liability coverage. This coverage pays for injuries to you and your family as well as damage to your Mitsubishi Lancer.
Because many people have only the minimum liability required by law (which is 15/30/5), it doesn't take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked.
Coverage for liability
This provides protection from damages or injuries you inflict on a person or their property in an accident. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 15/30/5 that translate to $15,000 bodily injury coverage, $30,000 for the entire accident, and $5,000 of coverage for damaged property.
Liability coverage pays for things such as loss of income, medical expenses, repair costs for stationary objects and repair bills for other people's vehicles. The amount of liability coverage you purchase is up to you, but buy as high a limit as you can afford. New Jersey state minimum liability requirements are 15/30/5 but you should think about purchasing more coverage.
The chart below shows why buying minimum limits may not be adequate coverage.
Medical payments coverage and PIP
Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills such as rehabilitation expenses, ambulance fees, X-ray expenses and nursing services. They are often utilized in addition to your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and will also cover any family member struck as a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage
Cheaper insurance is out there
In this article, we presented a lot of information how to save on Mitsubishi Lancer insurance in Jersey City. The most important thing to understand is the more rate quotes you have, the more likely it is that you will get a better rate. Consumers may even find the biggest savings come from a small local company. Some small companies can often insure niche markets at a lower cost as compared to the big name companies such as State Farm or Progressive.
When trying to cut insurance costs, it's not a good idea to skimp on coverage in order to save money. In many cases, an insured cut comprehensive coverage or liability limits only to regret at claim time that their decision to reduce coverage ended up costing them more. Your goal should be to purchase a proper amount of coverage at the best price, but do not skimp to save money.
More tips and info about insurance is located at these sites:
- Learn About Car Insurance (GEICO)
- Who Has Cheap Car Insurance for Homeowners in Jersey City? (FAQ)
- Who Has Cheap Auto Insurance for a Honda CR-V in Jersey City? (FAQ)
- Who Has Cheap Jersey City Car Insurance Quotes for State Employees? (FAQ)
- Who Has Affordable Jersey City Auto Insurance Quotes for a Toyota Tacoma? (FAQ)
- Shopping for a Safe Car (Insurance Information Institute)
- Rollover Crash FAQ (iihs.org)
- Reducing Your Risks in a Car Crash Video (iihs.org)