It’s an obvious statement that car insurance companies don’t want policyholders to shop around. Consumers who shop rates annually are highly likely to switch auto insurance companies because there is a high probability of finding coverage at a more affordable price. A survey found that drivers who shopped around annually saved approximately $850 each year compared to policyholders who never shopped for cheaper rates.
If saving the most money on Fiat 500 insurance in Newark is your objective, then understanding how to find companies and compare cheaper coverage can make shopping around easier.
If saving money is your primary concern, then the best way to get cheaper Fiat 500 insurance in Newark is to annually compare prices from insurance carriers who provide auto insurance in New Jersey. You can compare prices by completing these steps.
- First, try to learn about the coverage provided by your policy and the factors you can control to prevent expensive coverage. Many things that increase rates such as getting speeding tickets and an unfavorable credit rating can be improved by improving your driving habits or financial responsibility. Read the full article for more information to get cheaper rates and find hidden discounts.
- Second, request rate estimates from direct, independent, and exclusive agents. Direct and exclusive agents can only provide price estimates from one company like Progressive and State Farm, while independent agents can quote prices for a wide range of companies. View insurance agents
- Third, compare the new rate quotes to your existing policy and see if there is a cheaper rate in Newark. If you find a better price and switch companies, make sure coverage does not lapse between policies.
- Fourth, provide notification to your current company to cancel your current car insurance policy and submit payment along with a signed and completed policy application to your new company or agent. Once coverage is bound, keep your new proof of insurance certificate in your glove compartment.
One key aspect when comparing rates is that you use identical deductibles and limits on every price quote and and to get rates from as many companies as possible. Doing this enables an accurate price comparison and the best price selection.
How much does Fiat 500 insurance in Newark, New Jersey cost?
Most larger insurance companies provide insurance quotes on their websites. This process is fairly simple as you simply type in your required coverages on the page. After you submit the form their quoting system automatically orders your credit score and driving record and provides a quote based on these and other factors. Quoting online for Fiat 500 insurance in Newark makes it a lot easier to compare rates and it’s absolutely necessary to perform this step if you want to get the lowest payment on auto insurance.
To save time and get comparison pricing now, take a look at the companies shown below. If you have coverage now, it’s recommended you complete the form with the coverages exactly as they are listed on your policy. Doing this assures you will receive a price comparison using the exact same coverages.
The following companies can provide price comparisons in Newark, NJ. If multiple companies are listed, we recommend you click on several of them in order to find the most affordable rates.
Why you need quality insurance for your 500
Even though Newark 500 insurance rates can get expensive, buying auto insurance serves an important purpose.
- Most states have minimum mandated liability insurance limits which means you are required to carry specific minimum amounts of liability insurance 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 took out a loan on your 500, almost every bank will force you to have physical damage coverage to guarantee loan repayment. If you default on your policy, the bank or lender will purchase a policy for your Fiat at a much higher rate and make you pay a much higher amount than you were paying before.
- Insurance safeguards not only your Fiat but also your financial assets. It also can pay for hospital and medical expenses incurred in an accident. One policy coverage, liability insurance, also covers legal expenses if you are sued as the result of an accident. If mother nature or an accident damages your car, your policy will pay all costs to repair after the deductible has been paid.
The benefits of insuring your 500 are without a doubt worth the cost, especially for larger claims. According to a recent study, the average American driver is overpaying over $855 a year so shop around once a year at a minimum to save money.
Smart Buyers Can Lower Insurance Rates
The best way to find cheaper auto insurance is to take a look at some of the elements that are used to determine your auto insurance rates. If you have a feel for what controls the rates you pay, this helps enable you to make changes that will entitle you to lower rates. Many things are considered when you get a price on insurance. Some factors are common sense such as your driving history, but some are more obscure like where you live or how financially stable you are.
Prices are affected by your address – Residing in less populated areas of the country may provide you with better prices when shopping for auto insurance. Less people means reduced accidents as well as less vandalism and auto theft. People who live in big cities have to deal with much more traffic and longer commutes to work. Spending more time driving can result in more accidents.
How many coverages with the same company – Many insurers provide discounts to policyholders that purchase more than one policy. It’s known as a multi-policy discount. The discount can be ten or even fifteen percent. Even if you qualify for this discount already, consumers should still get quotes from other companies to guarantee you are still saving the most.
Job reflects on rates – Jobs like doctors, police officers, and financial analysts tend to pay higher rates than average attributed to job stress and lots of time spent away from family. Conversely, jobs such as professors, students and the unemployed generally pay rates lower than average.
Avoid traffic tickets – Only having one moving violation can bump up the cost by as much as thirty percent. Good drivers get better rates than bad drivers. Drivers who have received license-revoking violations like reckless driving, hit and run or driving under the influence may find they need to file a proof of financial responsibility form (SR-22) with their state’s licensing department in order to keep their license.
How old are your drivers? – Older, more experienced drivers have been proven to be more responsible, tend to cause fewer accidents, and receive fewer citations. Drivers with little experience tend to be inattentive when at the wheel of a vehicle so they pay higher auto insurance rates.
Deter theft and pay less – Buying a car that has a built-in theft deterrent system can help lower your premiums. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help prevent your vehicle from being stolen.
Policy add-ons may be wasting money – There are a lot of additional coverages that can waste your money on your 500 policy. Coverages like rental car coverage, towing, and extra equipment coverage may be costing you every month. They may seem good at first, but if you’ve never needed them in the past eliminate the coverages to reduce your premium.
Insurance loss data for a Fiat 500 – Insurers use historical loss data when they file their rates in each state. Vehicles that tend to have higher number or severity of losses will cost more to insure.
The information below illustrates the insurance loss data for Fiat 500 vehicles. For each type of coverage, the loss probability for all vehicles, as an average, is set at 100. Percentages below 100 imply a favorable loss record, while percentages above 100 indicate frequent claims or statistically larger claims.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Fiat 500 | 72 | 76 | 66 | 96 | 89 | 84 |
| Fiat 500 Convertible | 76 | 79 | 60 | 85 | ||
| Fiat 500 Electric | 73 | 59 | 76 | 60 | ||
| Fiat 500L | 112 | 80 | 102 | 128 | 93 | 97 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Slash rates with these discounts
Companies don’t always publicize every available discount in an easy-to-find place, so the following list contains some of the best known as well as the least known credits available to bring down your rates.
- Low Miles Discount – Keeping the miles down on your Fiat may allow you to get cheaper prices.
- Buy New and Save – Putting coverage on a new 500 can save up to 30% since new vehicles have better safety ratings.
- Early Payment Discounts – If paying your policy premium upfront instead of monthly or quarterly installments you can avoid the installment charge.
- Seat Belts Save – Buckling up and requiring all passengers to buckle up could cut 10% or more off PIP or medical payments premium.
- Driver’s Education for Students – Reduce the cost of insurance for teen drivers by having them successfully take a driver’s education course in high school.
- Air Bag Discount – Vehicles with factory air bags or motorized seat belts could see savings as much as 30%.
- Anti-lock Brake Discount – Cars equipped with ABS or steering control can stop better under adverse conditions and therefore earn up to a 10% discount.
- Home Ownership Discount – Just being a homeowner can save a few bucks since owning and maintaining a home is proof of financial responsibility.
- Accident Waiver – This one isn’t a discount, but some companies like Progressive, Allstate, and GEICO may permit one accident without raising rates so long as you are claim-free prior to being involved in the accident.
As a sidenote, most of the big mark downs will not be given to all coverage premiums. Most only cut individual premiums such as physical damage coverage or medical payments. So even though they make it sound like it’s possible to get free car insurance, it’s just not the way it works.
Insurance companies that have most of the discounts above include:
If you need affordable Fiat 500 insurance quotes, ask every prospective company which credits you are entitled to. Some of the earlier mentioned discounts may not apply in your area. To choose insurance companies that offer the discounts shown above in New Jersey, click here to view.
What if I want to buy from local Newark insurance agencies?
Many drivers would rather have an agent’s advice and that is not a bad decision The biggest benefit of price shopping on the web is you can get lower rates but also keep your business local. And supporting local agents is definitely important in Newark.
For easy comparison, once you complete this form (opens in new window), your information is submitted to companies in Newark that can provide free Newark car insurance quotes for your auto insurance coverage. You never need to leave your house as quotes are delivered to you directly. You can get cheaper auto insurance rates without a big time investment. If you wish to get a price quote from a specific auto insurance provider, feel free to find their quoting web page and complete a quote there.
Picking the best company requires more thought than just the quoted price. Below are some questions you should ask.
- Does the agency support the community they serve?
- Is auto insurance their primary focus in Newark?
- Will you work with the agent or an assistant?
- What insurance company do they write the most business with?
- Are they properly licensed to sell insurance in New Jersey?
- Are they full-time agents?
If you receive satisfactory answers and an acceptable price quote, you may have just found an insurance company that will insure your vehicles. Keep in mind you have the power to cancel your policy at any point so don’t think that you are obligated to any particular company for the full term.
You can find cheap coverage
You just learned a lot of tips how to reduce Fiat 500 insurance prices online in Newark. The most important thing to understand is the more price quotes you have, the better chance you’ll have of finding inexpensive Newark car insurance quotes. You may even be surprised to find that the most savings is with an unexpected company. These companies may cover specific market segments cheaper than their larger competitors like State Farm and Allstate.
When you buy Newark car insurance online, do not buy less coverage just to save a little money. In too many instances, drivers have reduced physical damage coverage to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your goal should be to buy a smart amount of coverage at the best possible price.
Additional information
- Uninsured Motorist Statistics (Insurance Information Institute)
- Who Has Cheap Car Insurance Quotes for 19 Year Olds in Newark? (FAQ)
- Who Has the Cheapest Auto Insurance for a 20 Year Old Female in Newark? (FAQ)
- What Auto Insurance is Cheapest for a Hyundai Elantra in Newark? (FAQ)
- Who Has Affordable Car Insurance for a Toyota RAV4 in Newark? (FAQ)
- Who Has Affordable Newark Auto Insurance Rates for 16 Year Olds? (FAQ)
- Who Has Cheap Auto Insurance Rates for High Risk Drivers in Newark? (FAQ)
- Who Has Cheap Auto Insurance Rates for Homeowners in Newark? (FAQ)
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- Distracted Driving (Insurance Information Institute)
- Auto Insurance FAQ (Farmers Insurance)
- Insurance losses by make and model (Insurance Institute for Highway Safety)