Remarkably, a study showed that a large majority of drivers in New Jersey kept their policy with the same company for four years or more, and approximately 40% of consumers have never even compared quotes to find cheap rates. Consumers in the U.S. can cut their rates by 47% a year just by getting comparison quotes, but they don’t want to take the time to shop their coverage around.
The recommended way to find discount auto insurance rates in Newark is to compare prices at least once a year from companies in New Jersey. You can compare rates by completing these steps.
First, learn about the coverage provided by your policy and the measures you can control to lower rates. Many things that increase rates like tickets, at-fault accidents, and a less-than-favorable credit score can be eliminated by being financially responsible and driving safely.
Second, compare prices from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from a single company like Progressive and State Farm, while independent agencies can quote prices from many different companies.
Third, compare the new rate quotes to your existing policy to determine if you can save on Element insurance. If you find better rates and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, tell your current company of your decision to cancel your current car insurance policy and submit a down payment along with a signed application to your new insurance company. As soon as you can, put the proof of insurance certificate with your vehicle’s registration.
An important note is that you’ll want to compare the same liability limits and deductibles on each price quote and and to get rate quotes from as many companies as feasibly possible. This helps ensure a fair rate comparison and a good representation of prices.
Eight factors that affect insurance prices
Consumers need to have an understanding of the different types of things that come into play when calculating your policy premiums. If you understand what controls the rates you pay, this enables you to make decisions that could help you find much lower annual insurance costs. Many factors are used when premium rates are determined. Some are obvious such as traffic violations, although some other factors are less apparent like your continuous coverage or how safe your car is.
The following are some of the factors companies use to determine prices.
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Male prices may be higher – Over the last 50 years, statistics have shown women tend to be less risk to insure than men. Now that doesn’t mean females are better drivers. Both genders are in at-fault accidents at about the same rate, but guys cause more damage and cost insurance companies more money. They also get more serious tickets like DUI and reckless driving.
The chart below illustrates the difference between Honda Element insurance costs for male and female drivers. The data assumes no violations or accidents, comp and collision included, $100 deductibles, drivers are single, and no discounts are taken into consideration.
- Don’t buy incidental coverages you don’t need – Policies have additional extra coverages that you can buy on your auto insurance policy. Add-on coverages like rental car coverage, towing coverage, and motor club memberships may be wasting your money. These may sound like a good investment when discussing your needs, but if you don’t need them get rid of them and save.
- Lower deductibles cost more – Protection for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your Honda. Some coverage claims would be a broken windshield, hitting a deer, and windstorm damage. Deductibles for physical damage are how much you are willing to pay if the claim is covered. The higher the amount you choose to pay out-of-pocket, the less money you will pay for auto insurance.
- Liability coverage limits are a factor – Liability coverage is the coverage that protects you if ever you are found to be at fault for causing damage or personal injury in an accident. It will provide for a legal defense starting from day one. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so drivers should make sure they buy enough to cover all assets.
- Rates may be lower depending on your vocation – Jobs like lawyers, airline pilots, and accountants generally have the highest average rates due to high stress and lots of time spent away from family. On the flip side, occupations like actors, historians and the unemployed receive lower rates.
- Avoid auto insurance policy lapses – Not having insurance is not a good idea and your next policy will cost more because you let your insurance lapse for non-payment. And not only will your rates increase, getting caught without coverage might get you a revoked license or a big fine. You may then have to provide proof of insurance in the form of an SR-22 filing with the New Jersey department of motor vehicles.
- Stay claim-free and save money – Auto insurance companies in New Jersey provide the best rates to insureds who do not rely on their insurance for small claims. If you file a lot of claims you can definitely plan on increased rates or even have your policy non-renewed. Your insurance policy is intended for more catastrophic claims.
- Safer occupants lowers premiums – Vehicles that have high safety ratings tend to have better insurance rates. Vehicles engineered for safety help reduce the chance of injuries in an accident and better occupant protection means less money paid by your insurance company and lower rates for you.
All major car insurance companies allow you to get pricing online. Doing online price comparisons for Honda Element insurance in Newark is easy for anyone as you just type in the coverage amounts you desire into the form. After the form is submitted, the quote system collects your driving and credit reports and provides a quote based on many factors. Getting online quotes for Honda Element insurance in Newark simplifies rate comparisons, and it’s very important to perform this step in order to get the lowest car insurance rates.
To quickly use this form to compare rates, compare quotes from the companies shown below. To compare your current rates, we recommend you type in coverages and limits as close as possible to your current policy. This way, you will be getting a fair comparison for similar coverage.
The following companies provide comparison quotes in New Jersey. To locate cheap car insurance in Newark, we suggest you compare several of them to get the most affordable price.
Coverage analysis
The price information shown next covers detailed analysis of policy rates for Honda Element models. Understanding more about how insurance quotes are determined can be useful when making informed decisions when comparing rate quotes.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $274 | $464 | $496 | $30 | $148 | $1,412 | $118 |
| Element LX 4WD | $274 | $464 | $496 | $30 | $148 | $1,412 | $118 |
| Element EX 2WD | $274 | $464 | $496 | $30 | $148 | $1,412 | $118 |
| Element EX 4WD | $274 | $464 | $496 | $30 | $148 | $1,412 | $118 |
| Element SC 2WD | $274 | $464 | $496 | $30 | $148 | $1,412 | $118 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Estimates do not factor in the specific area where the vehicle is garaged which can influence price quotes considerably.
Choosing deductibles
The hardest decision when buying coverage is the level to set your comp and collision deductibles. The rates below highlight the premium difference between low and high physical damage deductibles. The first set of prices uses a $250 physical damage coverage deductible and the second data table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $372 | $626 | $480 | $28 | $144 | $1,675 | $140 |
| Element LX 4WD | $372 | $626 | $480 | $28 | $144 | $1,675 | $140 |
| Element EX 2WD | $372 | $626 | $480 | $28 | $144 | $1,675 | $140 |
| Element EX 4WD | $372 | $626 | $480 | $28 | $144 | $1,675 | $140 |
| Element SC 2WD | $372 | $626 | $480 | $28 | $144 | $1,675 | $140 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Element LX 2WD | $302 | $504 | $480 | $28 | $144 | $1,458 | $122 |
| Element LX 4WD | $302 | $504 | $480 | $28 | $144 | $1,458 | $122 |
| Element EX 2WD | $302 | $504 | $480 | $28 | $144 | $1,458 | $122 |
| Element EX 4WD | $302 | $504 | $480 | $28 | $144 | $1,458 | $122 |
| Element SC 2WD | $302 | $504 | $480 | $28 | $144 | $1,458 | $122 |
| Get Your Own Custom Quote Go | |||||||
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Prices do not factor in specific garaging location which can decrease or increase price quotes noticeably.
Based on the data above, we can derive that using a $250 deductible will cost you approximately $18 more each month or $216 every year across all Honda Element models than selecting the higher $500 deductible. Because you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you normally go more than 14 months between claims, you would probably save some money if you opt for a higher deductible.
The illustration below demonstrates how choosing different deductibles and can influence Honda Element insurance costs for each age group. The data assumes a single female driver, comp and collision included, and no other discounts are factored in.
Safe drivers pay less for insurance
The example below demonstrates how speeding tickets and accidents impact Honda Element auto insurance costs for different age groups of insureds. The premiums assume a married female driver, comprehensive and collision coverage, $500 deductibles, and no discounts are taken into consideration.
Why you need quality insurance for your Honda Element
Despite the potentially high cost of Honda Element insurance, paying for auto insurance may be mandatory for several reasons.
- Just about all states have mandatory insurance requirements which means state laws require specific limits of liability protection 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 bought your Honda Element with a loan, almost all lenders will require that you buy full coverage to ensure they get paid if you total the vehicle. If you default on your policy, the lender will be forced to insure your Honda at a more expensive rate and force you to reimburse them the higher premium.
- Auto insurance protects not only your vehicle but also your assets. It will also pay for hospital and medical expenses for yourself as well as anyone injured by you. Liability insurance will also pay for a defense attorney if someone files suit against you as the result of an accident. If mother nature or an accident damages your car, your policy will pay to have it repaired.
The benefits of carrying enough insurance are definitely more than the cost, particularly when you have a large claim. In a recent study of 1,000 drivers, the average customer is overpaying over $750 every year so it’s important to compare rates every year to be sure current rates are still competitive.
Get cheaper Honda Element insurance rates in Newark
Auto insurance companies don’t necessarily list every discount they offer in a way that’s easy to find, so the below list has a few of the more well known as well as the least known discounts that you can inquire about if you buy Newark auto insurance online.
- Club Memberships – Being a member of qualifying clubs or civic groups could qualify you for a break on your bill.
- College Student – Children living away from Newark attending college and do not take a car to college can receive lower rates.
- Senior Discount – Drivers over the age of 55 may qualify for better insurance rates.
- Discount for New Cars – Putting insurance coverage on a new Element can save you some money since newer vehicles have better safety ratings.
- Safety Restraint Discount – Requiring all passengers to buckle up before driving may be able to save a few bucks off the personal injury premium cost.
- Newark Homeowners Discount – Just being a homeowner can save a few bucks because owning a home means you have a higher level of financial diligence.
- Life Insurance Discount – Insurance companies who offer life insurance give a discount if you purchase auto and life insurance together.
- Multi-policy Discount – If you combine your auto and homeowners policies and insure them with the same company you could get a discount of nearly 15% which can help you find cheaper Element insurance.
- Paper-free Discount – Some insurance companies will give a small break simply for signing over the internet.
- Student Discounts – A discount for being a good student may save as much as 25% on a Newark auto insurance quote. Many companies even apply the discount to college students until age 25.
Don’t be shocked that most discounts do not apply to the entire cost. Most cut specific coverage prices like physical damage coverage or medical payments. So even though they make it sound like you would end up receiving a 100% discount, nobody gets a free ride.
The diagram below compares Honda Element insurance premiums with and without discounts applied. The rates are based on a female driver, no driving violations, no at-fault accidents, New Jersey state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-policy, homeowner, multi-car, safe-driver, and claim-free discounts applied.
A partial list of companies that possibly offer these money-saving discounts include:
When quoting, ask all companies you are considering which credits you are entitled to. Some of the earlier mentioned discounts might not apply in your state. To locate insurers that provide some of the discounts listed above in Newark, click here.
Buying from insurance agencies
A small number of people prefer to go talk to an agent and that is not a bad decision A good thing about comparing car insurance online is that drivers can save money and get better rates and still choose a local agent.
Upon completion of this quick form, your insurance coverage information is transmitted to insurance agents in Newark who will give you bids to get your business. There is no reason to contact an agency since rate quotes are delivered straight to your inbox. Get lower rates without having to waste a lot of time. If you wish to get a price quote from a specific car insurance provider, just navigate to their website to submit a rate quote request.
Deciding on a insurer should depend on more than just the bottom line cost. Below are some questions you should ask.
- How many years have they been established?
- Do you work with a CSR or direct with the agent?
- Which insurance companies are they affiliated with?
- How much experience to they have in personal lines coverages?
- Where are claims handled?
- Where would your vehicle be repaired?
- Will the agent help in case of a claim?
Types of car insurance agents
When looking for a local Newark insurance agency, there are a couple of types of agencies and how they function. Newark agents can either be independent or exclusive.
Exclusive Car Insurance Agencies
Agents that choose to be exclusive normally can only provide a single company’s rates and examples are American Family, State Farm, and Allstate. Exclusive agencies are unable to place coverage with different providers so they have to upsell other benefits. Exclusive agents are well schooled on their company’s products which helps them sell on service rather than price.
Shown below is a short list of exclusive agencies in Newark who can help you get rate quotes.
Farmers Insurance – Anthony Pugliese
41 Wilson Ave – Newark, NJ 07105 – (973) 732-2105 – View Map
Farmers Insurance – Christine Veliz
229 Bloomfield Ave – Newark, NJ 07104 – (973) 482-1975 – View Map
State Farm: Greg Daniels
681 1/2 Mt Prospect Ave – Newark, NJ 07104 – (973) 484-5772 – View Map
Independent Agents
Independent agencies do not sell for just one brand and that allows them to write policies through many companies and find the cheapest rate. To move your coverage to a new company, an independent agent can move your coverage which requires no work on your part.
When comparison shopping, you definitely need to check rates from a couple of independent agencies so that you can do a thorough price comparison.
The following are independent agents in Newark who can help you get price quote information.
International Fidelity Insurance Co
1111 Raymond Blvd – Newark, NJ 07102 – (973) 624-7200 – View Map
Collection Agency BandA
744 Broad St #1903 – Newark, NJ 07102 – (862) 218-0319 – View Map
Newark Cheaper Auto Insurance
11 Mulberry St – Newark, NJ 07102 – (206) 337-9544 – View Map
Once you have acceptable answers for all questions you ask as well as a price you’re happy with, it’s a good possibility that you have found an auto insurance agent that can properly insure your vehicles.
Which car insurance company is best in New Jersey?
Buying coverage from the top car insurance provider can be difficult considering how many companies are available to choose from in New Jersey. The information in the lists below can help you pick which car insurance companies you want to consider purchasing coverage from.
Top 10 Newark Car Insurance Companies Ranked by Customer Service
- Mercury Insurance
- The Hartford
- American Family
- Progressive
- GEICO
- USAA
- State Farm
- Travelers
- Farmers Insurance
- Allstate
Don’t give up on cheap coverage
The cheapest Honda Element insurance in Newark can be bought from both online companies and also from your neighborhood Newark agents, and you should compare price quotes from both in order to have the best chance of saving money. There are still a few companies who may not offer rate quotes online and most of the time these small insurance companies only sell coverage through independent insurance agents.
We just showed you many tips how you can get a better price on Honda Element insurance in Newark. The key thing to remember is the more providers you compare, the better your chances of lowering your premium rates. Consumers may even find the lowest car insurance rates come from a company that doesn’t do a lot of advertising. These smaller insurers may cover specific market segments cheaper compared to the large companies like GEICO and State Farm.
Additional information can be found at the links below
- Teen Driver Licensing Information (iihs.org)
- Who Has the Cheapest Auto Insurance for 18 Year Olds in Newark? (FAQ)
- What Car Insurance is Cheapest for a 20 Year Old Male in Newark? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Dodge Journey in Newark? (FAQ)
- How Much is Auto Insurance for a Toyota Tacoma in Newark? (FAQ)
- Who Has Affordable Auto Insurance Quotes for a Chevrolet Silverado in Newark? (FAQ)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Distracted Driving (Insurance Information Institute)
- Anti-Lock Brake FAQ (iihs.org)
- State Car Insurance Guides (GEICO)