How to Compare Jersey City Chevy Traverse Insurance

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Chevy Traverse insurance cost
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Insurance for Chevy TraverseIt takes a little time, but the best way to get cheaper car insurance rates in Jersey City is to start comparing prices regularly from insurance carriers in New Jersey. Rates can be compared by completing these steps.

  • Step 1: Spend a few minutes and learn about coverages and the measures you can take to keep rates low. Many things that drive up the price such as multiple speeding tickets and a not-so-good credit rating can be improved by making lifestyle changes or driving safer.
  • Step 2: Compare rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from one company like Progressive or Farmers Insurance, while independent agencies can give you price quotes from multiple sources. Compare rates now
  • Step 3: Compare the new rate quotes to the price on your current policy to see if cheaper Traverse coverage is available. If you can save some money, make sure there is no coverage gap between policies.
  • Step 4: Give proper notification to your current agent or company to cancel your current policy. Submit the completed application along with a down payment to your new agent or company. Don't forget to store the proof of insurance certificate with your registration paperwork.

A good tip to remember is that you'll want to compare similar limits and deductibles on every quote and to quote with every company you can. Doing this guarantees a fair price comparison and a complete price analysis.

Anyone knows that insurance companies don't want their policyholders to compare prices. People who compare rates once a year are very likely to switch companies because there are good odds of finding a lower-priced policy. Surprisingly, a recent survey revealed that consumers who shopped around annually saved approximately $3,500 over four years compared to drivers who never shopped around for lower prices.

If saving money on car insurance in Jersey City is the reason you're here, understanding the best way to shop and compare cheaper coverage can make shopping around easier.

Reduce Insurance Rates with These Tips

An important part of buying insurance is that you know some of the elements that help calculate your policy premiums. When you know what positively or negatively controls the rates you pay, this helps enable you to make changes that may result in lower car insurance prices.

The list below includes some of the major factors used by insurance companies to determine your rate level.

Do safer cars cost less to insure? - Vehicles with good safety scores can get you lower premiums. Safe vehicles reduce the chance of injuries and any reduction in injury severity translates into fewer and smaller insurance claims and lower rates for you. If your Chevy earned at least an "acceptable" rating on the Insurance Institute for Highway Safety website you may qualify for a discount.

Raising comp and collision deductibles saves money - Comprehensive and collision coverage deductibles define how much you are required to spend out-of-pocket in the event of a claim. Protection for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Examples of covered claims are a windshield broken by a bird, hail damage, and damage caused by road hazards. The more damage repair cost you're willing to pay, the less your car insurance will be.

Careless drivers pay higher rates - Careful drivers get better rates than bad drivers. Even one moving violation can increase rates to the point where it's not affordable. Drivers who get serious citations like DUI, reckless driving or excessive speeding may find they need to submit a SR-22 or proof of financial responsibility with their state DMV in order to prevent a license revocation.

The diagram below illustrates how violations and fender-benders can affect Chevy Traverse annual premium costs for different categories of driver ages. The premiums are based on a single female driver, full coverage, $100 deductibles, and no discounts are applied to the premium.

Inexpensive frequent car insurance claims are not good - If you are a frequent claim filer, don't be surprised to see much higher rates or policy non-renewal. Car insurance companies in New Jersey provide lower rates to insureds who are claim-free. Auto insurance is intended for the large, substantial claims.

Costs can change based on your address - Choosing to live in smaller towns and rural areas of the country may provide you with better prices when buying car insurance. Lower population means reduced accidents as well as less vandalism and auto theft. Drivers in populated New Jersey areas have more road rage incidents and much longer commute distances. More time on the road can result in more accidents.

Your vocation is a factor - Occupations such as real estate brokers, executives, and medical professionals tend to have the highest rates in part from stressful work requirements and extremely grueling work hours. On the other hand, professions such as professors, historians and homemakers pay the least.

Experienced drivers are lower risk - More experienced drivers are viewed as being more responsible, statistically cause fewer accidents, and are safer drivers. Young drivers have been known to be inattentive and easily distracted when driving and because of this, their car insurance rates are much higher.

The data below uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.

Chevy Traverse insurance loss statistics - Insurers use past insurance losses to calculate a rate that offsets possible losses. Models that historically have high amounts or severity of claims will have increased rates.

The table below illustrates the collected loss data for Chevy Traverse vehicles. For each coverage category, the loss probability for all vehicles, without regard to make or model, is considered to be 100. Percentage values below 100 are indicative of better than average losses, while values that are above 100 indicate frequent claims or tendency to have larger claims.

Insurance Loss Ratings for Chevrolet Traverse Vehicles
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Traverse 4dr 2WD 75 101 72 93 90 90
Chevrolet Traverse 4dr 4WD 72 91 82 78 76 78

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

The companies shown below provide quotes in New Jersey. To find cheap auto insurance in Jersey City, we suggest you visit as many as you can to get the cheapest price.

Chevy Traverse insurance charts and tables

The price information displayed below covers estimates of insurance rates for Chevy Traverse models. Understanding how insurance prices are established can be valuable when making decisions on the best policy coverages.

Chevrolet Traverse Insurance Rates in Jersey City, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Traverse LS 2WD $274 $382 $420 $24 $126 $1,226 $102
Traverse LS AWD $310 $382 $420 $24 $126 $1,262 $105
Traverse LT 2WD $310 $382 $420 $24 $126 $1,262 $105
Traverse LT AWD $310 $464 $420 $24 $126 $1,344 $112
Traverse LTZ 2WD $310 $464 $420 $24 $126 $1,344 $112
Traverse LTZ AWD $310 $464 $420 $24 $126 $1,344 $112
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Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Prices do not factor in your specific Jersey City location which can increase or decrease coverage prices significantly.

Car insurance deductibles

One common question asked by Jersey City drivers is how high should the physical damage deductibles be. The comparison tables below outline how much more rates are of buying low and high physical damage coverage deductibles. The first table uses a $250 deductible for comp and collision and the second price chart uses a $500 deductible.

Chevrolet Traverse insurance premium rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Traverse LS 2WD $372 $514 $408 $24 $122 $1,465 $122
Traverse LS AWD $420 $514 $408 $24 $122 $1,513 $126
Traverse LT 2WD $420 $514 $408 $24 $122 $1,513 $126
Traverse LT AWD $420 $626 $408 $24 $122 $1,625 $135
Traverse LTZ 2WD $420 $626 $408 $24 $122 $1,625 $135
Traverse LTZ AWD $420 $626 $408 $24 $122 $1,625 $135
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Chevrolet Traverse insurance premium rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Traverse LS 2WD $302 $414 $408 $24 $122 $1,270 $106
Traverse LS AWD $340 $414 $408 $24 $122 $1,308 $109
Traverse LT 2WD $340 $414 $408 $24 $122 $1,308 $109
Traverse LT AWD $340 $504 $408 $24 $122 $1,398 $117
Traverse LTZ 2WD $340 $504 $408 $24 $122 $1,398 $117
Traverse LTZ AWD $340 $504 $408 $24 $122 $1,398 $117
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Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Information does not factor in specific zip code location which can alter rates greatly.

We can derive from the above data that using a $250 deductible costs approximately $17 more each month or $204 annually averaged for all Traverse models than choosing the higher $500 deductible. Due to the fact that you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you normally go at least 15 months between claims, you would probably be better off if you choose a higher deductible.

Calculate deductible break even point

Average monthly premium for $250 deductibles: $130
Average monthly premium for $500 deductibles (subtract): - $113
Monthly savings from raising deductible: $17
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $17
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 15 months

An important sidenote is that increasing deductibles to save money means you will have to cover more of the damage yourself when you have a comprehensive or collision claim. You must have enough disposable income in the event you need to pay the deductible to have repairs made.

Male drivers compared to female drivers in Jersey City

The example below compares Chevy Traverse premium costs for male and female drivers. Data assumes no claims or driving violations, comprehensive and collision coverage, $1,000 deductibles, marital status is single, and no discounts are factored in.

Full coverage or liability only

The information below compares Chevy Traverse auto insurance costs with full physical damage coverage and with liability coverage only. The costs are based on no accidents or driving violations, $100 deductibles, drivers are single, and no discounts are applied.

Should you pay for full coverage or liability only?

There is no clear-cut formula of when to stop paying for physical damage coverage, but there is a broad guideline. If the yearly cost of full coverage is more than around 10% of the replacement cost minus the deductible, then you might consider buying liability only.

For example, let's pretend your Chevy Traverse settlement value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $3,000 after paying the physical damage deductible. If it's costing in excess of $300 annually for physical damage coverage, then it may be the right time to buy liability only.

There are some cases where dropping full coverage is not in your best interest. If you still have a loan on your vehicle, you must maintain physical damage coverage to protect the lienholder's interest. Also, if you can't afford to buy a different vehicle if your current one is damaged, you should not opt for liability only.

Three reasons car insurance is important

Despite the high insurance cost for a Chevy Traverse in Jersey City, car insurance is not optional due to several reasons.

First, almost all states have minimum liability requirements which means state laws require a specific level of liability if you drive a 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.

Second, if your vehicle has a lienholder, it's guaranteed your bank will have a requirement that you buy insurance to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the bank may insure your Chevy at a much higher rate and force you to pay much more than you were paying before.

Third, car insurance preserves both your vehicle and your personal assets. Insurance will pay for most medical and hospital costs for yourself as well as anyone injured by you. Liability coverage, the one required by state law, will also pay to defend you in the event you are sued. If you have damage to your Chevy as the result of the weather or an accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.

The benefits of carrying adequate insurance definitely exceed the cost, particularly if you ever have a claim. The average driver in New Jersey is overpaying more than $865 each year so compare rate quotes every year to ensure rates are competitive.

These discounts can lower your insurance quotes

Insurance is neither fun to buy or cheap, but there's a good chance there are discounts that you may not even be aware of. Some of these discounts will be visible when you get a quote, but a few need to be inquired about before you will receive the discount. If you are not receiving all the discounts possible, you are not getting the best rate possible.Insurance discounts

  • Senior Citizen Discount - Drivers over the age of 55 may qualify for a small decrease in premiums.
  • Accident Free - Jersey City drivers who stay claim-free are rewarded with significantly better rates on Jersey City car insurance quote in comparison to drivers who are more careless.
  • Federal Government Employee - Active or former government employment may reduce rates when you quote Jersey City car insurance depending on your company.
  • Online Discount - A few companies will discount your bill up to fifty bucks for buying your policy on the internet.
  • Sign Early and Save - Some companies give discounts for renewing your policy before your current coverage expires. You can save around 10% with this discount.

Remember that some of the credits will not apply to the whole policy. Most cut specific coverage prices like medical payments or collision. So even though you would think it's possible to get free car insurance, insurance companies aren't that generous.

The example below shows the comparison of Chevy Traverse insurance rates with and without discounts applied. The price estimates are based on a male driver, no tickets, no at-fault accidents, New Jersey state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, claim-free, homeowner, multi-policy, and multi-car discounts applied.

Popular insurance companies and a summarized list of policyholder discounts can be found below.

  • GEICO policyholders can earn discounts including defensive driver, driver training, air bags, five-year accident-free, membership and employees, and good student.
  • Mercury Insurance offers discounts for type of vehicle, professional/association, age of vehicle, accident-free, anti-theft, low natural disaster claims, and good driver.
  • Farmers Insurance may offer discounts for early shopping, mature driver, bundle discounts, teen driver, electronic funds transfer, and distant student.
  • Auto-Owners Insurance has discounts for paperless, multi-policy, student away at school, company car, safe vehicle, and group or association.
  • Liberty Mutual may have discounts that include preferred payment discount, hybrid vehicle, newly married, multi-car, and teen driver discount.
  • SAFECO includes discounts for drive less, accident prevention training, multi-car, teen safe driver, and teen safety rewards.
  • Progressive offers premium reductions for multi-policy, online signing, multi-vehicle, online quote discount, good student, homeowner, and continuous coverage.
  • USAA has savings for good student, loyalty savings, new vehicle, vehicle storage, military installation, and multi-policy.

When quoting, ask each insurance company which discounts they offer. Some discounts listed above might not be offered in your area. To choose companies that can offer you the previously mentioned discounts in New Jersey, follow this link.

Insurance agencies near you

Many people would rather talk to an insurance agent and we recommend doing that Experienced insurance agents can make sure you are properly covered and help in the event of a claim. One of the great benefits of price shopping on the web is you can get cheap insurance rates but also keep your business local.

Insurance agents in Jersey CityAfter completing this simple form, your insurance data is immediately sent to insurance agents in Jersey City that provide free Jersey City car insurance quotes for your insurance coverage. There is no need to contact any insurance agencies due to the fact that quote results will go to you directly. If you want to get a rate quote from a specific insurance provider, just find their quoting web page and submit a quote form there.

Picking an insurer shouldn't rely on just a cheap price. The following questions are important to ask.

  • If your car is in the repair shop, do you have coverage for a rental car?
  • Do they review policy coverages at every renewal?
  • Will they give you a referral list?
  • Can they help ensure a fair claim settlement?
  • Which insurance company do they prefer to write with?
  • Do you work with a CSR or direct with the agent?
  • Are they actively involved in the community?
  • How much training do they have in personal risk management?

The difference between Jersey City auto insurance agents

When searching for a good insurance agency, it's important to understand the different types of agents and how they differ in how they quote coverages. Insurance policy providers can be categorized as either exclusive or independent. Either type can sell and service insurance coverage, but it is a good idea to know the difference in how they write coverage because it can factor into the selection process.

Exclusive Insurance Agents

Exclusive insurance agents can only provide one company's prices and some examples include Allstate, Farmers Insurance, State Farm, and AAA. These agents are unable to provide other company's prices so they are skilled at selling on more than just price. Exclusive agents are well schooled on sales techniques which helps them sell on service rather than price. Consumers sometimes use the same exclusive agent mainly due to the brand legacy rather than having the cheapest rates.

Listed below is a short list of exclusive insurance agencies in Jersey City that can give you rate quotes.

View more Jersey City agents

Independent Agencies or Brokers

Independent agencies can sell policies from many different companies and that enables them to quote your coverage through many different insurance companies and possibly get better coverage at lower prices. If prices rise, your agent can just switch to a different company which makes it simple for you.

If you are comparing insurance prices, you should always compare quotes from a couple of independent agencies to have the most options to choose from. Most independent agents also contract with small regional insurance companies that many times have cheaper rates.

Listed below is a list of independent insurance agencies in Jersey City that are able to give price quote information.

  • 07305, 701 NJ-440 - Jersey City, NJ 07304 - (201) 515-3499 - View Map

  • 2330 John F. Kennedy Blvd - Jersey City, NJ 07304 - (201) 435-4300 - View Map
  • JFK Insurance Agency
    746 Bergen Ave - Jersey City, NJ 07306 - (908) 425-1544 - View Map

View more Jersey City agents

If you feel you receive satisfactory answers to any questions you may have in addition to an acceptable price estimate, you may have found an insurance agency that meets the requirements to insure your vehicles. It's important to know that policyholders can cancel coverage for any reason so never assume that you are permanently stuck with a specific agent with no way out.

Compare but don't skimp

When you buy Jersey City car insurance online, it's not a good idea to reduce needed coverages to save money. Too many times, someone sacrificed comprehensive coverage or liability limits and learned later that the small savings ended up costing them much more. Your aim should be to buy the best coverage you can find at a price you can afford, but do not sacrifice coverage to save money.

People change insurance companies for many reasons like not issuing a premium refund, denial of a claim, lack of trust in their agent or being labeled a high risk driver. Regardless of your reason for switching companies, finding a new company can be less work than you think.

You just read a lot of tips how to save on Chevy Traverse insurance in Jersey City. The key thing to remember is the more rate quotes you have, the better your comparison will be. Consumers may even find the biggest savings come from a small local company.

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