Are you tired of overpaying and want the cheapest Mazda 5 insurance in Jersey City? Scraping up a payment for overpriced Mazda 5 insurance in Jersey City can diminish your monthly budget and force you to prioritize other expenses. Comparing rates annually is free, only takes a few minutes, and is a good way to lower your monthly bill.
Statistics show that 70% of consumers have been with the same company for over three years, and almost 40% of drivers have never compared rate quotes at all. Consumers in New Jersey could cut their rates by up to $720 a year, but they don’t know the large savings they would see if they bought a different policy. Since you have so many different company options, it’s difficult to find the most cost effective insurer.
You need to get comparison quotes at least once a year since prices fluctuate regularly. If you had the best price on Mazda 5 insurance in Jersey City a year ago you will most likely find a better rate quote today. Forget anything you know (or think you know) about car insurance because you’re about to learn the right way to find lower rates on car insurance.
Discounts for cheap auto insurance rates
Insurance can be prohibitively expensive, but there’s a good chance there are discounts that many consumers don’t even know exist. Some trigger automatically when you complete an application, but a few need to be asked about prior to getting the savings. If you do not double check each discount possible, it’s possible you qualify for a lower rate.
- Auto/Home Discount – If you have multiple policies with the same company you could earn a discount of as much as 10 to 15 percent.
- Early Renewal Discounts – Select larger companies give a discount for signing up before your current coverage expires. This discount can save up to 10%.
- Senior Citizens – Drivers over the age of 55 are able to get reduced rates.
- New Car Discount – Buying a new car instead of a used 5 can be considerably cheaper because new vehicles have to meet stringent safety requirements.
- Anti-lock Brake System – Vehicles equipped with ABS or steering control are safer to drive so companies give up to a 10% discount.
- Active Service Discounts – Having a family member in the military could trigger a small discount.
- Passive Restraint Discount – Factory options such as air bags or motorized seat belts can receive discounts of up to 25% or more.
- Jersey City Homeowners Pay Less – Just being a homeowner can earn you a little savings because maintaining a house shows financial diligence.
- Good Students Pay Less – Getting good grades may save you up to 25%. This discount can apply up to age 25.
A little note about advertised discounts, some of the credits will not apply to the overall cost of the policy. Some only reduce specific coverage prices like collision or personal injury protection. So even though you would think all those discounts means the company will pay you, you aren’t that lucky.
The chart below illustrates the comparison of Mazda 5 insurance premiums with and without discounts applied to the premium. The costs are based on a female driver, no claims or driving citations, New Jersey state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, marriage, multi-car, safe-driver, and multi-policy discounts applied.
Some of the insurance companies who may offer these benefits include:
When comparing rates, check with every prospective company how many discounts you can get. All car insurance discounts might not apply in every state. To locate auto insurance companies who offer auto insurance discounts in New Jersey, click here to view.
How to compare free Jersey City Mazda 5 insurance quotes
Getting a cheaper price on Mazda 5 insurance is pretty simple and can save money. Just take a few minutes comparing free Jersey City car insurance quotes from online providers.
Online shopping is fast and free, and it replaces the need to waste gas driving to all the different Jersey City insurance agencies. Shopping for auto insurance online eliminates the middleman unless your situation requires the professional assistance that only an agent can give. Drivers can get the lowest quotes online but still have the advice of a local agent.
The companies shown below offer comparison quotes in New Jersey. To locate the best cheap car insurance in NJ, we recommend you visit two to three different companies in order to find the cheapest rates.
Rates and other information
The coverage information displayed below highlights a range of insurance prices for Mazda 5 models. Knowing how prices are figured can be useful when making smart choices when purchasing an insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|5 Sport Station Wagon||$328||$564||$420||$24||$126||$1,462||$122|
|5 Touring Station Wagon||$376||$688||$420||$24||$126||$1,634||$136|
|5 Grand Touring Station Wagon||$376||$688||$420||$24||$126||$1,634||$136|
|Get Your Own Custom Quote Go|
Cost estimates assume married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Rate quotes do not factor in your specific Jersey City location which can alter insurance rates greatly.
Comparison of full coverage and liability-only policies
The example below illustrates the difference between Mazda 5 premium costs with full physical damage coverage and with liability coverage only. The data assumes no driving violations, no at-fault accidents, $250 deductibles, single marital status, and no discounts are applied to the premium.
Should you be buying full coverage?
There is no set guideline to drop physical damage insurance, but there is a general school of thought. If the yearly cost for physical damage coverage is more than around 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
For example, let’s say your Mazda 5 settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, you would only receive $8,000 after paying your deductible. If you are currently paying more than $800 a year for your policy with full coverage, then you may need to consider dropping full coverage.
There are some scenarios where removing full coverage is not advised. If you still have a lienholder on your title, you are required to maintain full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.
Jersey City Insurance Prices are Influenced by These Factors
Many different elements are considered when pricing auto insurance. A few of the factors are predictable such as your driving history, but other factors are not quite as obvious such as your credit history or your commute time. The best way to find cheaper car insurance is to take a look at some of the elements that are used to determine the rates you pay for car insurance. When consumers understand what determines base rates, this allows you to make good choices that may result in lower premium levels.
The following are some of the most common factors companies use to determine your premiums.
Where you live – Having an address in a small town can be a good thing if you are looking for the lowest rates. Drivers who live in large cities regularly have more traffic problems and a longer drive to work. Fewer drivers means less chance of accidents in addition to fewer liability claims.
Your vocation may affect premiums – Do you work in a high-stress field? Occupational choices like fire fighters, airline pilots, and medical professionals are shown to have higher premium rates because of intense work requirements and lots of time spent away from family. On the flip side, careers such as scientists, engineers and homemakers have the lowest average rates.
Excellent credit equals lower premiums – Having a bad credit score will be a significant factor in determining your rates. Insureds with high credit scores tend to be better drivers and file fewer claims than those with lower credit ratings. If your credit is lower than you’d like, you could save money insuring your Mazda 5 by spending a little time repairing your credit.
Bump up coverage deductibles to lower rates – Comp and collision deductibles define how much you are willing to pay in the event of a claim. Physical damage protection, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some examples of claims that would be covered could be rear-ending another vehicle, damage caused by hail, or theft of your vehicle. The more expense you’re willing to pay, the lower your rates will be.
Do you really need the extra coverages? – There are a lot of additional extra coverages that may not really be needed if you aren’t careful. Coverages for vanishing deductibles, death and dismemberment, and additional equipment coverage are probably not needed. They may seem good when buying your policy, but if they’re wasting money eliminate the coverages to reduce your premium.
Insurance loss statistics a Mazda 5 – Insurance companies include the past claim trends for vehicles to help determine rates. Vehicles that statistically have higher claim frequency or loss amount will cost more for specific coverages.
The next table illustrates the historical loss data for Mazda 5 vehicles. For each insurance policy coverage type, the claim amount for all vehicles, regardless of make, model or trim level, is considered to be 100. Percentage values below 100 indicate a favorable loss history, while numbers that are greater than 100 indicate more frequent claims or tendency to have larger claims.
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
Statistics from IIHS.org for 2013-2015 Model Years
Situations that may require an agent’s advice
When choosing a policy for your vehicles, there really is no one-size-fits-all type of policy. Your situation is unique and your auto insurance should be unique as well. For example, these questions might point out if your insurance needs will benefit from professional help.
- What is covered by UM/UIM coverage?
- Where can I get insurance after a DUI in New Jersey?
- Can my teen drive my company car?
- Do I have coverage if I rent a car in Mexico?
- Do I need more liability coverage?
- Why do I need rental car insurance?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It only takes a few minutes and can help protect your family.
Insurance agent or online?
Some people prefer to have an agent’s advice and that is recommended in a lot of cases Good insurance agents are trained to spot inefficiencies and will help you if you have claims. The best thing about getting online price quotes is that you can obtain cheap car insurance quotes and still have an agent to talk to. And supporting local agencies is definitely important in Jersey City.
By using this quick form, your insurance data is instantly submitted to companies in Jersey City that provide free Jersey City car insurance quotes for your insurance coverage. There is no need to even leave your home since rate quotes are delivered to your email. If you wish to compare prices from one company in particular, you can always navigate to their website and fill out their quote form.
Exclusive agents vs. Independent agents
If you’re trying to find a reliable insurance agent, there are a couple of types of insurance agents to choose from. Agents are either independent (non-exclusive) or exclusive. Both can do a good job, but it’s worth learning the difference in how they write coverage since it may influence which agent you choose.
Agents that choose to be independent can sell policies from many different companies and that allows them to write policies with a variety of different insurance companies and help determine which has the cheapest rates. If they find a cheaper price, they can switch companies in-house without you having to go to a different agency.
When comparing car insurance rates, you will definitely want to include at least one independent agent to ensure the widest selection of prices.
Shown below is a list of independent insurance agents in Jersey City that can possibly get you competitive price quotes.
GIM Agency Services Inc
263 Central Ave – Jersey City, NJ 07307 – (201) 792-4188 – View Map
45 Laidlaw Ave – Jersey City, NJ 07306 – (201) 659-6050 – View Map
Exclusive agents can only quote rates from one company and some examples include Farmers Insurance, State Farm, Allstate, and AAA. Exclusive agencies are unable to shop your coverage around so they have to upsell other benefits. Exclusive agents are highly trained on sales techniques which helps offset the inability to provide other markets.
Listed below is a short list of exclusive agents in Jersey City willing to provide price quote information.
Picking the best insurance agency should depend on more than just the quoted price. Below are some questions you should ask.
- Will the company cover a rental car if your car is getting fixed?
- Is the agent and/or agency licensed to do business in New Jersey?
- Is every driver in your family covered?
- Is the agency active in community causes in Jersey City?
- If you have an accident, will your rates go up?
- Do they have designations such as AIC, CPCU, or CIC?
- Does the agent help file claims?
- Which companies do they recommend if they are an independent agency?
Here’s why car insurance is not optional
Despite the high cost of buying insurance for a Mazda 5 in Jersey City, insuring your vehicle is a good idea for several reasons.
- The majority of states have mandatory insurance requirements which means you are required to carry specific minimum amounts 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.
- If you have a loan on your Mazda 5, most lenders will force you to have full coverage to guarantee payment of the loan. If you cancel or allow the policy to lapse, the bank will be required to insure your Mazda for a much higher rate and force you to reimburse them much more than you were paying before.
- Insurance protects not only your Mazda 5 but also your assets. Insurance will pay for medical bills that are the result of an accident. As part of your policy, liability insurance will also pay attorney fees if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of insuring your car definitely exceed the cost, especially with large liability claims. An average driver in America is currently overpaying as much as $865 each year so it’s important to compare rates every year to make sure the price is not too high.
One last note
Affordable Mazda 5 insurance in Jersey City is possible both online in addition to local insurance agencies, and you need to comparison shop both so you have a total pricing picture. There are still a few companies who may not have online rate quotes and usually these regional insurance providers only sell through independent insurance agencies.
As you go through the steps to switch your coverage, never skimp on critical coverages to save a buck or two. In too many instances, someone dropped collision coverage only to regret that their decision to reduce coverage ended up costing them more. Your strategy should be to find the BEST coverage at the best cost while not skimping on critical coverages.
How to find discount Mazda 5 insurance in Jersey City
If you want to save money, the best way to get more affordable Mazda 5 insurance is to do a yearly price comparison from insurers in Jersey City. Drivers can shop around by following these steps.
- Read about car insurance and the things you can change to drop your rates. Many rating criteria that cause high rates such as at-fault accidents, careless driving, and a negative credit history can be remedied by paying attention to minor details.
- Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from a single company like GEICO or Farmers Insurance, while agents who are independent can quote rates for many different companies. Find a Jersey City insurance agent
- Compare the new rates to your existing coverage to see if cheaper 5 coverage is available. If you find a lower rate and buy the policy, make sure there is no coverage gap between policies.
- Give proper notification to your current agent or company of your intention to cancel your current policy and submit a down payment along with a signed application for the new policy. As soon as you can, put the new proof of insurance paperwork in your glove compartment.
An important note is that you’ll want to compare the same physical damage deductibles and liability limits on each price quote and and to get price quotes from as many carriers as you can. This guarantees a fair price comparison and a complete rate analysis.
To read more, feel free to browse the resources below:
- Car Insurance FAQ (Trusted Choice)
- Who Has Affordable Car Insurance Rates for Ride Shares in Jersey City? (FAQ)
- How Much are Car Insurance Rates for Drivers with Good Credit in Jersey City? (FAQ)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
- Insurance Losses by Make and Model (iihs.org)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Car Insurance: When not to Skimp (BankRate.com)