Believe it or not, getting your hands on the cheapest auto insurance in NJ without having to compromise your coverage is a lot easier than most people make the process out to be.
Sure, it isn’t exactly an effortless process by any stretch of the imagination – you’re going to have to do some research, you’re going to have to do your due diligence, and you are going to have to make sure that you negotiate hard, but at the end of the day you might be able to save a few hundred dollars to a few thousand dollars just by paying attention to all of the inside information we are able to share with you in this quick guide.
By the time you’re done consuming all of these secrets, you’ll know exactly what it takes to get a fantastic deal on car coverage in New Jersey without ever having to sacrifice safety or security.
Let’s get right into it!
The car you buy is the biggest determining factor in the amount of money you will pay for even the cheapest auto insurance in NJ
While there are a lot of different factors that are going to come into play when it comes time to purchase auto coverage, the biggest determining factor in the final figure of how much you are going to have to spend on auto coverage is the actual car you are looking to ensure in the first place.
Make no mistake about it – brand-new cars are more expensive to insure than older ones (with few exceptions), and sports cars or luxury cars are often times dramatically more expensive to insure.
Combine that with the fact that all vehicles are depreciating assets that lose their value on a daily basis and you’d have to be at least a bit crazy not to seriously consider purchasing a vehicle that will be inexpensive to ensure it offers the exact same kind of utility as the brand-new one that would cost you an arm and a leg.
You have to set your deductible intelligently
Most people understand that higher deductibles allow them to reduce their monthly premium prices (often times dramatically), but a lot of people aren’t comfortable jacking up their deductible to anything above $1000 in case they have to pay that price out-of-pocket before they are coverage kicks in.
You are going to want to consider how often you have had to leverage auto coverage in the past, what your driving habits are like, how “nice” your neighborhood is at home as well as around where you work, and a handful of other details to figure out exactly what you need to do when it’s time to set your deductible.
The cheapest auto insurance in NJ almost always carries a high deductible, as that is going to deflate your monthly premium prices across the board. Increasing your deductible from $500 to say $1000 or even $1500 can help you save close to 10% on your policy every year – not exactly an insignificant amount of money.
Leverage as many “invisible” insurance discounts as possible
You are going to be shocked and the amount of discounts available to drivers in New Jersey that are serious about getting the cheapest auto insurance in NJ.
There are literally dozens and dozens of different discounts that you are going to have the chance to take advantage of, the kinds of discounts that can dramatically reduce not only your monthly payments but also your deductibles.
You’ll want to inquire about any and all “invisible” discounts provided by your company, and you will certainly want to make sure that you negotiate hard for the most significant discounts you can find.
Here are just some of the “invisible” discounts are available, the kinds of discounts that you just won’t find advertised all that often.
- Good student discounts
- Good driving record discounts
- Good credit discounts
- Employee or military discounts
- Short commute and low mileage discounts
- Safe vehicle discounts
- Multiple vehicle/multiple policy discounts
Always try to prepay your auto insurance in New Jersey
Another great “invisible” discount you’ll want to look for is the prepayment discount that most companies are happy to provide. Companies have been burned quite a lot by people that just don’t pay their monthly premiums, and they are almost always happy to offer you a considerable discount on coverage that you are willing to prepay.
Prepay for six months of coverage and you might get to month some free, and prepay the entire year and you might get three months free. It really doesn’t get much better than that, and this is one of the best ways to get the cheapest auto insurance in NJ.