Most people do not thoroughly read their car insurance policy before renewing it, even if their premiums have risen. However, spending a small amount of time assessing your coverage and deciding what you require can save you cash.
Here’s some recommended ways to get lower auto insurance rates in New Jersey:
1. Don’t Double up on Your Medical Coverage
Many insurance policies have options for medical coverage and personal injury protection. However, if you already have a health plan, you might be paying for the same coverage twice. Only purchase the minimum coverage that your state requires. Notwithstanding, you should always find out whether your existing health plan covers injuries resulting from car accidents.
2. Increase Your Deductible
Your deductible is the money you agree to pay, before the insurance company pays anything. For example, by raising your deductible to $500.00 from $200.00, you might reduce the price of your comprehensive and collision coverage by fifteen to thirty percent. Raising your deductible to $1,000.00 might reduce the price of this coverage by at least forty percent.
3. Incorporate Vehicle Safety Options
The majority of new cars have safety options like air bags, automatic seat belts and anti lock brakes. However, car insurance companies factor in extras when deciding your costs. Anti theft devices, alarm systems, air bags for passenger seats and daytime lights can all help to lower your premiums.
4. Choose Your Vehicle Wisely
Some people wrongly believe that the color of their car increases the cost of their premiums. Nonetheless, owning a vehicle that is costly to repair, that has a poor safety record, or that thieves are more likely to target, could easily raise your costs. In particular, auto insurers are interested in the vehicle’s engine size, model and make, body style, year and location (garage/driveway kept vehicles versus street parking, for example).
5. Eliminate Unnecessary Coverage
Costly comprehensive and/or collision coverage may not be worth it, if the claim amount is less than your deductible or insurance policy fee. Similarly, you may already have emergency roadside assistance with another provider (like the AAA). If so, you should decline this through your car insurance company.
6. Inquire About Other Price Reductions
Some companies provide discounts for people over the age of fifty or fifty-five, if you are a longstanding customer, or if your driving record is clean. Other types of customers can receive discounts too. This includes people who complete defensive driving courses, or students who go to university, without using their vehicles there.
7. Keep Your Driving Record Clean
As far as insurance costs go, the behavior of the driver is a significant factor. Moving violations, such as reckless driving or speeding, are a case in point. These violations will get you “points” on your license, which will boost your premium costs.
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