Being forced to pay for high-priced car insurance premiums can empty your funds and make it impossible to make ends meet. Comparing rate quotes can save money and help to slash your bill and have more diposable income.
It’s a fact that auto insurance companies want to keep you from comparing prices. Consumers who compare other rates will most likely buy a new policy because the odds are good of finding a more affordable policy premium. Remarkably, a study showed that people who did price comparisons regularly saved $860 a year compared to policyholders who never shopped around for better prices.
If finding the most affordable auto insurance in Newark is your target objective, then having some knowledge of the best way to quote and compare auto insurance can make the process less intimidating.
How to find better rates for Audi A7 insurance in Newark
The best way to get low-cost auto insurance rates in Newark is to make a habit of regularly comparing prices from insurers that insure vehicles in New Jersey. This can be done by completing these steps.
- Step 1: It will benefit you to learn about how companies price auto insurance and the measures you can take to keep rates in check. Many risk factors that cause rate increases such as at-fault accidents and an imperfect credit rating can be remedied by improving your driving habits or financial responsibility.
- Step 2: Quote rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from one company like Progressive and State Farm, while independent agents can provide price quotes from many different companies.
- Step 3: Compare the new rate quotes to your existing policy to see if you can save by switching companies. If you find a better price and switch companies, ensure coverage does not lapse between policies.
- Step 4: Provide written notification to your current company of your decision to cancel your existing policy and submit a completed policy application and payment to your new carrier. Once the paperwork is finalized, keep the new proof of insurance paperwork in your glove compartment.
One important bit of advice is to try to compare the same liability limits and deductibles on every quote request and and to analyze every company you can. Doing this ensures an accurate price comparison and the best price selection.
Companies like Allstate, Progressive and GEICO all claim big savings with TV and radio ads and it can be hard to see through the deception and do the work needed to find the best deal.
You should make it a habit to get comparison quotes before your policy renews since insurance prices fluctuate regularly. Despite the fact that you may have had the best rate on Audi A7 insurance in Newark two years ago the chances are good that you can find a lower premium rate today. Forget anything you know (or think you know) about car insurance because I’m going to teach you one of the best ways to find better rates and still maintain coverage.
The companies shown below are ready to provide free quotes in New Jersey. To find the cheapest auto insurance in New Jersey, we recommend you compare several of them in order to find the most affordable rates.
Car insurance is an important decision
Despite the potentially high cost of Audi A7 insurance, buying car insurance may be required for several reasons.
First, just about all states have minimum mandated liability insurance limits which means state laws require specific minimum amounts of liability insurance if you want to drive legally. 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.
Second, if you took out a loan on your vehicle, almost all lenders will have a requirement that you buy full coverage to guarantee loan repayment. If you let the policy lapse, the lender will be forced to insure your Audi at a much higher rate and require you to reimburse them for it.
Third, insurance protects both your car and your assets. It will also provide coverage for medical bills for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you are sued as the result of an accident. If your Audi gets damaged, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.
The benefits of buying car insurance outweigh the cost, particularly when you have a large claim. Unknowingly, the average driver is currently overpaying as much as $750 every year so it’s recommended you shop around at least once a year to ensure rates are inline.
Learn How to Lower Your Insurance Premiums
Consumers need to have an understanding of some of the elements that are used to determine the rates you pay for car insurance. If you have some idea of what impacts premium levels, this allows you to make educated decisions that can earn you much lower annual insurance costs.
Shown below are some of the major factors used by insurance companies to determine your premiums.
Limits of liability – The liability coverage on your policy will afford coverage if a court rules you are at fault for causing personal injury or damage in an accident. Liability insurance provides legal defense coverage to attempt to prove you were not liable. This coverage is relatively inexpensive as compared to coverage for physical damage, so do not skimp.
Rental and towing coverage may not be needed – Insurance companies have many add-on coverages that you can get tricked into buying on your car insurance policy. Insurance for things like roadside assistance, better glass coverage, and additional equipment coverage could be just wasting money. They may seem like a good idea when deciding what coverages you need, but your money might be better spent on other coverage so consider taking them off your policy.
Minor frequent insurance claims are not good – If you file claims often, you can expect higher premiums or even policy non-renewal. Auto insurance companies in New Jersey give lower rates to people who only file infrequent claims. Your insurance policy is intended to be relied upon for more catastrophic claims.
Gals pay lower rates – The statistics show females are less aggressive when driving. It does not mean women are BETTER drivers than men. Males and females cause accidents at about the same rate, but men cause more damage. Not only are claims higher, but men have more aggressive citations such as driving while intoxicated (DWI) or driving recklessly.
Pleasure use or commuting – The higher the miles on your Audi in a year the more you will pay for car insurance. A lot of companies calculate prices partially by how you use the vehicle. Autos that have low annual miles get more affordable rates compared to those used for work or business. An incorrectly rated A7 may be costing you. Ask your agent if your car insurance policy states annual mileage.
Insurance losses for an Audi A7 – Companies factor in insurance loss information to help calculate a profitable premium rate. Vehicles that the data shows to have higher loss trends will cost more for coverage.
The next table illustrates the actual insurance loss data for Audi A7 vehicles. For each policy coverage, the loss probability for all vehicles, regardless of make, model or trim level, is considered to be 100. Percentage values below 100 are indicative of better than average losses, while numbers that are greater than 100 indicate frequent claims or statistically larger claims.
| Specific Audi Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Audi A7 4dr 4WD | 207 | 76 | 208 | 50 | 49 | 76 |
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Ratings for Newark auto insurance companies
Ending up with a highly-rated auto insurance company can be rather challenging considering how many different companies there are to choose from in Newark. The company rank data listed below could help you choose which coverage providers you want to consider purchasing from.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Mercury Insurance | 87 | 96 | 100 | 87% | A+ | 93.4 |
| The Hartford | 88 | 96 | 91 | 93% | A+ | 92.6 |
| Progressive | 84 | 94 | 99 | 90% | A+ | 92.4 |
| Travelers | 84 | 93 | 100 | 87% | A++ | 92.3 |
| State Farm | 84 | 93 | 95 | 87% | A++ | 91 |
| Farmers Insurance | 87 | 92 | 90 | 85% | A | 90.6 |
| Safeco Insurance | 85 | 91 | 87 | 86% | A | 88.4 |
| USAA | 71 | 93 | 98 | 87% | A++ | 88 |
| GEICO | 73 | 93 | 95 | 85% | A++ | 87.1 |
| 21st Century | 85 | 85 | 91 | 89% | A | 86.9 |
| Liberty Mutual | 72 | 91 | 97 | 83% | A | 86.4 |
| AAA Insurance | 85 | 85 | 88 | 86% | A | 85.8 |
| Nationwide | 71 | 90 | 93 | 83% | A+ | 84.9 |
| Allstate | 69 | 92 | 92 | 83% | A+ | 84.4 |
| American Family | 77 | 96 | 80 | 85% | A | 83.8 |
| Esurance | 70 | 80 | 89 | 77% | A+ | 79.2 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
More comparisons equals affordable rates
Some insurance providers don’t offer rates over the internet and these small insurance companies only sell through independent insurance agencies. Lower-priced insurance in Newark is attainable from both online companies and with local Newark insurance agents, and you need to price shop both so you have a total pricing picture.
When getting Newark car insurance quotes online, you should never sacrifice coverage to reduce premiums. There are many occasions where an accident victim reduced comprehensive coverage or liability limits to discover at claim time that the few dollars in savings costed them thousands. Your aim should be to purchase plenty of coverage at the best possible price and still be able to protect your assets.
How to find cheaper rates for Audi A7 insurance in Newark
If your goal is the lowest price, then the best way to get more affordable car insurance rates is to make a habit of regularly comparing prices from providers who provide car insurance in Newark.
- Try to learn about how your policy works and the factors you can control to prevent high rates. Many risk factors that result in higher prices such as careless driving and a poor credit score can be remedied by making minor changes in your lifestyle.
- Compare rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from a single company like GEICO or State Farm, while independent agencies can provide rate quotes from multiple insurance companies.
- Compare the quotes to your existing policy and determine if there is any savings. If you can save some money and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Provide proper notification to your current company to cancel your existing policy. Submit the signed application along with the required initial payment for your new policy. Once coverage is bound, safely store the certificate of insurance in your vehicle.
An important bit of advice to remember is to compare identical deductibles and limits on each quote and and to get rate quotes from every company you can. Doing this helps ensure the most accurate price comparison and the best price selection.
Even more information can be read at these sites:
- What is Full Coverage? (Allstate)
- Who Has Cheap Newark Auto Insurance for Unemployed Drivers? (FAQ)
- Who Has Cheap Newark Auto Insurance for a Jeep Wrangler? (FAQ)
- Who Has Affordable Car Insurance Rates for Lyft Drivers in Newark? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for a Nissan Rogue in Newark? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for High Mileage Drivers in Newark? (FAQ)
- Who Has Affordable Auto Insurance for Police Officers in Newark? (FAQ)
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Booster Seat Ratings (iihs.org)
- Teen Driving and Texting (State Farm)