If saving money is your primary concern, then the best way to find lower priced Audi R8 insurance in Jersey City is to compare quotes once a year from insurance carriers in New Jersey. You can compare prices by following these steps.
First, learn about what is in your policy and the modifications you can make to prevent expensive coverage. Many rating factors that cause rate increases like tickets, at-fault accidents, and a not-so-good credit rating can be rectified by making lifestyle changes or driving safer.
Second, compare rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like Progressive or State Farm, while independent agencies can quote rates from multiple companies. View insurance agents
Third, compare the new rates to your existing policy and determine if there is any savings. If you find a lower rate and change companies, make sure coverage does not lapse between policies.
Fourth, give notification to your agent or company to cancel your current car insurance policy. Submit a down payment and signed policy application to your new carrier. Don’t forget to safely store the proof of insurance paperwork with your registration paperwork.
A tip to remember is that you’ll want to make sure you compare identical deductibles and limits on every quote and and to get price quotes from as many auto insurance providers as possible. This guarantees a fair rate comparison and a good representation of prices.
Everyone knows that insurance companies don’t want their policyholders to compare prices. People who shop around for cheaper rates are likely to switch to a new company because of the high probability of finding discount prices. Surprisingly, a recent survey revealed that drivers who make a habit of shopping around saved an average of $860 a year as compared to drivers who never compared rates.
If saving the most money on car insurance in Jersey City is why you’re here, knowing how to shop and compare insurance premiums can help make the process easier.
Best companies for affordable Audi R8 insurance in New Jersey
The following companies are ready to provide price comparisons in Jersey City, NJ. If you want cheap auto insurance in New Jersey, it’s a good idea that you compare several of them to get the cheapest price.
Auto insurance data for an Audi R8
The rate table displayed next highlights different prices for Audi R8 models. Having a good understanding how policy premiums are determined can help guide drivers when making decisions when choosing a new policy provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|R8 4.2 Quattro||$396||$878||$496||$30||$148||$1,948||$162|
|R8 4.2 Quattro||$396||$878||$496||$30||$148||$1,948||$162|
|R8 5.2 Quattro 10Cyl||$478||$1040||$496||$30||$148||$2,192||$183|
|R8 5.2 Quattro 10Cyl||$478||$1040||$496||$30||$148||$2,192||$183|
|Get Your Own Custom Quote Go|
Table data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, claim-free, and multi-vehicle. Estimates do not factor in the specific area where the vehicle is garaged which can decrease or increase prices considerably.
Males versus Females
The example below visualizes the comparison of Audi R8 insurance costs for male and female drivers. The premium estimates are based on no accidents or driving violations, comprehensive and collision coverage, $250 deductibles, drivers are single, and no discounts are taken into consideration.
Full coverage versus liability only rates
The chart below visualizes the comparison of Audi R8 insurance costs with and without full coverage. The rate quotes are based on no claims or driving violations, $500 deductibles, marital status is single, and no other discounts are factored in.
When to buy liability coverage only
There isn’t a steadfast formula of when to eliminate full coverage on your policy, but there is a general convention. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your Audi R8 settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $6,000 after paying the physical damage deductible. If you are currently paying more than $600 annually to have full coverage, then you might consider buying liability only.
There are some circumstances where only buying liability is not a good plan. If you still have a lienholder on your title, you have to carry full coverage to protect the lienholder’s interest. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not remove full coverage.
Affordable rates by taking advantage of these five discounts
Car insurance can cost a lot, but there are discounts available that could help you make your next renewal payment. Many of these discounts will be applied automatically at quote time, but some must be manually applied prior to receiving the credit.
- Student in College – Older children who attend college more than 100 miles from Jersey City without a vehicle on campus can receive lower rates.
- Defensive Driver Discount – Passing a course in driver safety can save you 5% or more if your company offers it.
- Waiver for an Accident – This one is not really a discount per se, but companies like Allstate, Progressive, and GEICO will allow you to have one accident before raising your premiums with the catch being you have to be claim-free for a set time period.
- Savings for New Vehicles – Buying a new car model can be considerably cheaper compared to insuring an older model.
- Use Seat Belts – Using a seat belt and requiring all passengers to use their safety belts can save 10% or more off PIP or medical payments premium.
One thing to note about discounts is that most discounts do not apply to the overall cost of the policy. Most only apply to specific coverage prices like physical damage coverage or medical payments. Despite the appearance that having all the discounts means you get insurance for free, you aren’t that lucky.
The illustration below visualizes the comparison of Audi R8 insurance costs with and without discounts applied to the premium. Data assumes a male driver, no claims or driving citations, New Jersey state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, safe-driver, claim-free, marriage, multi-car, and multi-policy discounts applied.
Popular auto insurance companies and the discounts they provide can be read below.
- Travelers policyholders can earn discounts including multi-car, good student, student away at school, save driver, home ownership, and driver training.
- 21st Century may include discounts for theft prevention, student driver, teen driver, good student, and air bags.
- State Farm discounts include defensive driving training, good student, multiple policy, good driver, passive restraint, accident-free, and anti-theft.
- GEICO offers discounts including driver training, membership and employees, anti-lock brakes, military active duty, good student, emergency military deployment, and air bags.
- SAFECO has savings for anti-lock brakes, drive less, bundle discounts, safe driver, and anti-theft.
- AAA includes discounts for multi-car, good driver, pay-in-full, AAA membership discount, anti-theft, good student, and education and occupation.
If you are trying to find low cost Jersey City auto insurance quotes, ask each company or agent which discounts they offer. Depending on the company, some discounts may not be offered in Jersey City. To locate companies that provide some of the discounts listed above in New Jersey, follow this link.
Compare rates but buy from a neighborhood Jersey City auto insurance agent
Many people just prefer to go talk to an agent and we recommend doing that Good agents will help you protect your assets and will help you if you have claims. One of the great benefits of getting online price quotes is that you can find lower rates and still buy from a local agent. Buying from local insurance agencies is especially important in Jersey City.
After filling out this simple form, your insurance data is emailed to local insurance agents that can give you free Jersey City auto insurance quotes to get your business. There is no need to do any legwork because prices are sent instantly to you. In the event you want to quote rates from a specific car insurance provider, don’t hesitate to navigate to their website and submit a quote form there.
If you want to use a reliable insurance agent, there are two types of agencies and how they differ in how they can insure your vehicles. Agencies in Jersey City are categorized either independent or exclusive. Both types can write car insurance policies, but it’s important to know the differences because it can influence the selection process.
Independent Car Insurance Agents (or Brokers)
Agents that elect to be independent are not restricted to one company so they can insure your vehicles through many different car insurance companies and help determine which has the cheapest rates. To transfer your coverage to a different company, an independent agent can move your coverage which is easy for the insured.
When comparing rate quotes, you definitely need to compare prices from a couple of independent agencies so that you can do a thorough price comparison. Many can place coverage with companies you’ve never heard of that can offer cheaper rates than bigger companies.
Below is a short list of independent insurance agents in Jersey City that may be able to provide free price quotes.
- Royale Insurance Agency
2184 John F. Kennedy Blvd – Jersey City, NJ 07305 – (201) 656-1800 – View Map
- Petrocci Agency
1674 John F. Kennedy Blvd # A – Jersey City, NJ 07305 – (201) 434-4760 – View Map
- Exodus Insurance Services
758 Ocean Ave – Jersey City, NJ 07304 – (201) 433-1015 – View Map
Agents that elect to be exclusive generally can only insure with one company and examples are State Farm, Allstate, and Farm Bureau. They are unable to provide other company’s prices so they are skilled at selling on more than just price. They are highly trained on their company’s products which helps offset the inability to provide other markets. A lot of people buy from the same agent for years primarily because of loyalty to the company and the convenience of having a single billing for all their coverages.
The following is a short list of exclusive agents in Jersey City willing to provide rate quotes.
- Farmers Insurance – Mofalc Meinga
447 Central Ave – Jersey City, NJ 07307 – (201) 435-1616 – View Map
- Jared Bush – State Farm® Insurance Agent
725 John F. Kennedy Blvd – North Bergen, NJ 07047 – (201) 325-8880 – View Map
- Farmers Insurance – Karima Panjwani
591 Summit Ave – Jersey City, NJ 07306 – (201) 793-7525 – View Map
Finding the right auto insurance agent is decision based upon more than just a cheap price quote. The following questions are important to ask.
- Are they in the agency full-time?
- Do you work with a CSR or direct with the agent?
- Do the companies they represent have a solid financial rating?
- Can they provide you with a list of referrals?
- Which companies can they place coverage with?
- Is assistance available after office hours?
- Will you get a loaner vehicle if you car is being repaired?
Car insurance coverages 101
Understanding the coverages of your policy can be of help when determining the right coverages at the best deductibles and correct limits. Car insurance terms can be confusing and reading a policy is terribly boring.
Liability car insurance – This can cover 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 might see 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. Alternatively, you may have a combined limit that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage protects against claims such as funeral expenses, emergency aid, repair bills for other people’s vehicles and court costs. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as much as you can afford. New Jersey state law requires minimum liability limits of 15/30/5 but it’s recommended drivers buy more liability than the minimum.
The next chart demonstrates why buying low liability limits may not be enough.
Uninsured Motorist or Underinsured Motorist insurance – This coverage gives you protection from other motorists when they either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your Audi R8.
Due to the fact that many New Jersey drivers only purchase the least amount of liability that is required (15/30/5 in New Jersey), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Frequently the UM/UIM limits are set the same as your liability limits.
Comprehensive coverage (or Other than Collision) – This pays for damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for claims such as falling objects, a broken windshield, vandalism, rock chips in glass and damage from getting keyed. The maximum payout a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Collision – This covers damage to your R8 resulting from a collision with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims like colliding with another moving vehicle, sustaining damage from a pot hole and crashing into a ditch. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. You can also increase the deductible on your R8 to bring the cost down.
Insurance for medical payments – Coverage for medical payments and/or PIP pay for short-term medical expenses like chiropractic care, pain medications, dental work, X-ray expenses and doctor visits. They can be used to fill the gap from your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states and may carry a deductible
Smart consumers save more
Insureds leave their current company for a variety of reasons including delays in responding to claim requests, lack of trust in their agent, not issuing a premium refund or even policy cancellation. Regardless of your reason, finding a new car insurance company is less work than it seems.
When buying insurance coverage, it’s not a good idea to reduce needed coverages to save money. There are many occasions where drivers have reduced physical damage coverage only to find out that their decision to reduce coverage ended up costing them more. The aim is to purchase a proper amount of coverage at a price you can afford while not skimping on critical coverages.
In this article, we covered many ways to save on Audi R8 insurance in Jersey City. The key concept to understand is the more providers you compare, the better likelihood of getting affordable Audi R8 insurance quotes. You may even find the most savings is with some of the smallest insurance companies.
Even more information can be read in these articles:
- Five Mistakes to Avoid (Insurance Information Institute)
- Who Has Affordable Jersey City Auto Insurance Quotes for Immigrants? (FAQ)
- Who Has the Cheapest Jersey City Car Insurance Rates for Active Military? (FAQ)
- How Much are Car Insurance Quotes for Hybrid Vehicles in Jersey City? (FAQ)
- How Much are Auto Insurance Rates for Inexperienced Drivers in Jersey City? (FAQ)
- Think You’re a Safe Driver? (State Farm)
- Teen Driving Statistics (iihs.org)