Sunday, June 29, 2014

How to Get Cheap Car Insurance in NJ for Young Drivers?

Two things going against you. First, you are a young driver. Second, New Jersey auto insurance rates are among the highest in the nation. That being said, what can you do to save on auto insurance?. This is where an agent comes in handy. He or she can answer this type question for you. Here are ways to lower your premium:
  1. Shop around. If your agent is an independent agent he or she can check with the other companies they represent. If not, you will need to call some local agents yourself.
  2. Check to see if your company offers group discounts. Insurers award discounts to low-risk consumers who share a common affiliation such as a membership in an employee group, a professional trade groups, or an alumni association, to name a few.
  3. If you have a homeowners or renters policy be sure that it is with the same company to take advantage of a multi-policy discount.
  4. Increase the physical damage deductibles (i.e. Comp and collision). However, understand that you will have to pay more out of pocket if something happens to your car.
  5. If the car is older consider dropping the collision coverage. But the above advice applies here because if you are involved in an at fault accident you will have to pay out of pocket because there is no coverage. If you live in a no-fault state you may not even be able to recover from the at fault driver (or very little).

  1. If you have comprehensive coverage you might consider installing a car alarm. Most companies give discounts for anti-theft devices.
  2. Prioritize your other coverages. Do you have road service? Could you get by without it? Rental reimbursement? Could you take a bus if your car was in the body shop?
  3. If you are paying monthly switch your payment plan to quarterly or semi-annual. Insurers charge you extra for every installment
  4. Make sure that the agent has the use of your auto properly classified. Pleasure use? Driving to work? (If you take a bus to work instead of driving your car make sure the agent knows that)
  5. Move. This may not be practical but if you move from an urban area to a suburban or rural area your insurance will likely be lower.
  6. Reduce your liability limits to State minimums. I do not recommend this.
Similarly, several ways to get cheap insurance in New Jersey. You can do it now, if not now when else would you do. the safety of you and your family better than you have assets.