Best Insurance for a Kia Optima in Jersey City

Inconceivable but true, the vast majority of consumers renewed their policy with the same company for a minimum of four years, and virtually 40% of consumers have never quoted car insurance rates at all. Jersey City insurance shoppers could save themselves $720 a year just by getting comparison quotes, but they feel it’s too difficult to compare other rate quotes.

Discount Kia Optima insuranceIf your goal is the lowest price, then the best way to save money on Kia Optima insurance in Jersey City is to start doing an annual price comparison from providers who provide auto insurance in New Jersey. Rate comparisons can be done by following these steps.

  1. Take a little time to learn about car insurance and the changes you can make to prevent high rates. Many risk factors that result in higher prices such as at-fault accidents, speeding tickets, and a negative credit history can be remedied by making minor driving habit or lifestyle changes. This article gives additional ideas to help prevent high rates and find additional discounts.
  2. Request rate estimates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can give quotes from one company like Progressive or Farmers Insurance, while agents who are independent can provide rate quotes for a wide range of insurance providers.
  3. Compare the price quotes to the premium of your current policy to determine if switching companies saves money. If you can save money, make sure coverage does not lapse between policies.
  4. Notify your company or agent of your decision to cancel your existing policy and submit the application along with any required down payment for your new coverage. Once coverage is bound, put the proof of insurance paperwork in your vehicle’s glove compartment or console.

The most important part of shopping around is to use identical deductibles and limits on every price quote and and to compare as many carriers as you can. This helps ensure an apples-to-apples comparison and a thorough price selection.

Rates and other information

The coverage information shown next showcases estimates of rate quotes for Kia Optima models. Being more informed about how insurance prices are calculated can help you make smart choices when buying a policy.

Kia Optima Insurance Rates in Jersey City, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $232 $418 $510 $30 $152 $1,342 $112
Optima EX $262 $494 $510 $30 $152 $1,448 $121
Optima SX $262 $494 $510 $30 $152 $1,448 $121
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Data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Prices do not factor in vehicle location which can alter prices substantially.

Can higher deductibles save money?

A question often asked by Jersey City drivers is how high should the deductibles for physical damage be. The rates shown below approximate the difference in cost when you buy lower versus higher insurance deductibles. The first rate comparisons uses a $250 comprehensive and collision deductible and the second rate chart uses a $500 deductible.

Kia Optima insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $372 $626 $544 $32 $162 $1,761 $147
Optima EX $420 $738 $544 $32 $162 $1,921 $160
Optima SX $420 $738 $544 $32 $162 $1,921 $160
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Kia Optima insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $302 $504 $544 $32 $162 $1,544 $129
Optima EX $340 $594 $544 $32 $162 $1,672 $139
Optima SX $340 $594 $544 $32 $162 $1,672 $139
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Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Price estimates do not factor in specific location information which can change price quotes greatly.

Based on the data above, we can derive that using a $250 deductible costs approximately $20 more each month or $240 for a full year across all Kia Optima models than quoting the higher $500 deductible. Because you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you usually have more than 13 months between claims, you would probably come out ahead by going with a higher deductible. Here’s a better example of how you can make this decision for your own policy.

Average monthly premium for $250 deductibles: $156
Average monthly premium for $500 deductibles (subtract): – $136
Monthly savings from raising deductible: $20
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $20
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

One thing to note is that a higher deductible means you will have to pay more of your own money when you have a comprehensive or collision claim. You need to make sure you have access to more funds in order to pay the higher deductible in order to repair your vehicle.

The information below illustrates how your choice of deductibles and can affect Kia Optima insurance costs for different age groups of insureds. The premium estimates are based on a married female driver, full physical damage coverage, and no additional discounts are factored in.

Kia Optima insurance costs by age and gender

The illustration below shows the difference between Kia Optima insurance costs for male and female drivers. The rates are based on a clean driving record, no at-fault accidents, comprehensive and collision coverage, $500 deductibles, single status, and no discounts are taken into consideration.

Learn How to Lower Your Insurance Rates

Many factors are considered when pricing auto insurance. Some are pretty understandable such as your driving history, but other factors are not quite as obvious such as whether you are married or your commute time. One of the most helpful ways to save on auto insurance is to to have a grasp of some of the things that go into determining auto insurance rates. If you know what positively or negatively impacts your premiums, this enables informed choices that can help you get lower rates.

The items below are some of the most rate-impacting factors used by insurance companies to determine rates.

Younger drivers cost more – Older people are more responsible, tend to cause fewer accidents, and receive fewer citations. Youthful drivers are known to be more careless when driving so auto insurance rates are higher.

The following data uses these variables: single driver, full coverage with $250 deductibles, and no discounts or violations.

Bundle policies and save – Most insurance companies apply a discount to people who have multiple policies with them. It’s known as a multi-policy discount. Discounts can be ten or even up to twenty percent in some cases. Even if you already get this discount, it’s in your best interest to comparison shop to make sure you are getting the best deal.

Low mileage costs less – The more you drive annually the higher the price you pay to insure it. Many insurance companies calculate rates determined by how the vehicle is used. Cars used primarily for pleasure use get more affordable rates than vehicles that are driven to work every day. It’s a good idea to make sure your declarations sheet is showing the right rating data, because it can save money. Improper usage on your Optima may be wasting your money.

Avoid traffic tickets – Careful drivers have lower premiums as compared to careless drivers. Only having one citation may increase your cost to the point where it’s not affordable. Drivers who have gotten multiple tickets such as DUI or reckless driving may be required to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to legally drive a vehicle.

The illustration below demonstrates how citations and at-fault accidents can affect Kia Optima insurance costs for different age groups. The price estimates are based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are factored in.

High performance equals high rates – The type of car you need insurance for makes a huge difference in the rate you pay. The lowest base rates are usually for the lowest performance passenger cars, but your final cost has many other factors.

The next chart uses these variables: single female driver age 40, full coverage with $250 deductibles, and no discounts or violations. The chart compares Kia Optima insurance rates compared to other vehicles that have a range of risk factors.

Kia Optima historical loss data – Companies study historical loss data to calculate a price that will offset losses. Vehicles that are shown to have higher frequency or amount of claims will have higher rates. The table below shows the compiled insurance loss statistics for Kia Optima vehicles.

For each insurance policy coverage type, the claim amount for all vehicles combined as an average is a value of 100. Values below 100 indicate a favorable loss history, while values over 100 point to more claims or a tendency for claims to be larger.

Kia Optima Insurance Claim Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Kia Optima 115 101 107 133 142 120
Kia Optima Hybrid 143 115 116 139 158 151

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

What is YOUR best insurance company?

We just presented many tips how you can shop for Kia Optima insurance online. The most important thing to understand is the more providers you compare, the better chance you’ll have of finding affordable Kia Optima insurance quotes. You may even find the lowest auto insurance rates are with the smaller companies. Some small companies may only write in your state and offer lower premium rates as compared to the big name companies such as State Farm and Allstate.

When you buy Jersey City auto insurance online, it’s very important that you do not reduce coverage to reduce premium. In many instances, an accident victim reduced liability coverage limits and found out when filing a claim that the few dollars in savings costed them thousands. The ultimate goal is to purchase a proper amount of coverage for the lowest cost but still have enough coverage for asset protection.

Even more information can be read at these sites: