Save Money on Chevy Malibu Insurance in Newark

Amazingly, a recent NerdWallet.com study showed that nearly 70% of drivers renewed their policy with the same company for over three years, and 38% of drivers have never taken the time to shop around. Many drivers in Newark could save nearly 40% every year just by getting comparison quotes, but they underestimate the benefits if they just switched companies.

The best way we recommend to find cheaper quotes for Chevy Malibu insurance is to compare prices annually from companies that insure vehicles in Newark.

Step 1: Get a basic knowledge of how your policy works and the changes you can make to prevent expensive coverage. Many risk factors that drive up the price such as accidents, careless driving, and a low credit rating can be improved by making minor changes to your lifestyle. This article gives information to prevent expensive rate increases and get additional discounts that may have been overlooked.

Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from a single company like Progressive or State Farm, while independent agents can provide rate quotes from many different companies.

Step 3: Compare the new quotes to your current policy premium and see if you can save money. If you can save some money, make sure there is no lapse in coverage.

Step 4: Give proper notification to your current agent or company of your intent to cancel your current car insurance policy. Submit the signed application along with the required initial payment for the new policy. Make sure you place the new certificate verifying coverage in your vehicle’s glove compartment or console.

The key thing to remember is to make sure you’re comparing identical coverages on each quote request and and to analyze as many car insurance companies as possible. This guarantees a level playing field and a thorough price selection.

Buying the cheapest car insurance in Newark is really quite simple as long as you have a good starting point. If you have insurance now, you will most likely be able to reduce the price you pay using the concepts covered in this article. But New Jersey vehicle owners need to learn how the larger insurance companies set your policy premium and use it to your advantage.

These discounts can slash Chevy Malibu insurance rates

Some insurance providers do not list their entire list of discounts in an easy-to-find place, so the list below details a few of the more common and also the lesser-known credits available to you.

• Lower Rates for Military – Being on active deployment in the military could mean lower premium rates.
• Seat Belts Save – Drivers who always wear seat belts and also require passengers to buckle their seat belts could save 15% on medical payment and PIP coverage.
• Defensive Driver – Taking part in a class that teaches defensive driving techniques could save 5% or more and also improve your driving technique.
• Accident Waiver – Not a discount per se, but a handful of insurance companies allow you one accident without raising rates if you have no claims prior to being involved in the accident.
• Sign Early and Save – A few larger companies allow discounts for buying a new policy before your current expiration date. It can save you around 10%.
• Theft Deterrent – Cars, trucks, and SUVs with anti-theft systems are stolen with less frequency so companies will give you a small discount.
• Multi-policy Discount – If you combine your home and auto policies and place coverage with the same company you could earn a discount of over 10 percent off each policy depending on the company.
• Braking Control Discount – Vehicles that have steering control and anti-lock brakes are much safer to drive and the ABS can save up to 10%.
• Telematics Data – Newark drivers who agree to allow companies to monitor driving patterns by using a telematics device in their vehicle such as Progressive’s Snapshot may see discounts if they are good drivers.

Keep in mind that most credits do not apply to the entire cost. Some only apply to the price of certain insurance coverages like medical payments or collision. So even though they make it sound like having all the discounts means you get insurance for free, nobody gets a free ride.

The example below illustrates the comparison of Chevy Malibu insurance premiums with and without discounts applied to the policy rates. The information is based on a male driver, no claims or driving violations, New Jersey state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, homeowner, multi-car, marriage, claim-free, and safe-driver discounts applied.

Some companies that may have many of the previously listed discounts include:

• Farmers Insurance
• Esurance
• State Farm
• GEICO
• Allstate

If you want inexpensive Newark auto insurance quotes, ask every prospective company to apply every possible discount. All car insurance discounts might not apply in your area.

The quickest method to compare insurance rates from multiple companies is to understand auto insurance companies allow for online access to give free rates quotes. To begin a comparison, all you need to do is give them rating details like the year, make and model of vehicles, your education level, how old drivers are, and if you require a SR-22. Your information is instantly sent to multiple different insurance companies and you will get price comparisons immediately.

If you wish to get multiple quotes for your Chevy Malibu now, click here and complete the form.

The companies in the list below have been selected to offer free quotes in New Jersey. If you want to find cheap car insurance in Newark, NJ, we recommend you get rates from several of them to get a more complete price comparison.

Auto insurance analysis for a Chevy Malibu

The price information below highlights detailed analysis of insurance prices for Chevy Malibu models. Being aware of how prices are formulated is important for drivers to make decisions when shopping around.

Price data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Information does not factor in the specific area where the vehicle is garaged which can impact premiums significantly.

Higher deductibles save money

One of the more difficult decisions when buying auto insurance is where should you set your physical damage deductibles. The comparisons below lay out how much more rates are between high and low deductibles. The first table uses a $100 comprehensive and collision deductible and the second data table uses a $1,000 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Table data does not factor in specific garaging location which can modify insurance rates noticeably.

We can estimate from the data above that using a $100 deductible would cost the average driver about $49 more each month or $588 each year than opting for the higher $1,000 deductible. Since you would have to pay $900 more if you file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to average at least 18 months between claim filings, you would more than likely save some money if you choose a higher deductible.

The illustration below highlights how deductible selection and can influence Chevy Malibu insurance prices for different age categories. The rates are based on a married female driver, full coverage, and no policy discounts are applied.

Poor driving habits will raise your auto insurance rates

The illustration below illustrates how violations and at-fault fender-benders raise Chevy Malibu auto insurance costs for each different age group. The costs are based on a married female driver, full coverage, $500 deductibles, and no other discounts are factored in.

Does it make sense to buy full coverage?

The information below shows the difference between Chevy Malibu insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in New Jersey. The prices are based on no claims or driving citations, $100 deductibles, drivers are not married, and no policy discounts are applied.

When to drop comprehensive and collision coverage

There isn’t a written rule to stop buying physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is 10% or more of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.

For example, let’s assume your Chevy Malibu book value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company would pay you is $6,000 after paying your policy deductible. If premiums are more than $600 annually to have full coverage, then it’s probably a good time to buy liability coverage only.

There are some scenarios where dropping full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to maintain full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.

Will just any policy work for me?

When quoting and comparing proper insurance coverage, there really is not a “best” method to buy coverage. Your needs are not the same as everyone else’s so your insurance needs to address that.
For instance, these questions can aid in determining whether or not you would benefit from professional advice.

• Do I have ACV or replacement cost coverage?
• What is an umbrella policy?
• Am I missing any policy discounts?
• What does UM/UIM cover?
• How high should deductibles be on a Chevy Malibu?
• Do I need PIP (personal injury protection) coverage in New Jersey?
• Does my insurance cover my expensive audio equipment?
• Does my Chevy Malibu need full coverage?

If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area.

You may need help from an insurance agent

A lot of people just prefer to buy from a licensed agent. One of the benefits of comparing rate quotes online is you may find cheap car insurance rates and still buy from a local agent.

After filling out this short form, your coverage information is immediately sent to agents in your area who can give free rate quotes and help you find cheaper coverage. You won’t need to leave your computer due to the fact that quote results will go directly to your email. You’ll get the best rates without having to waste a lot of time. If you need to quote rates from a specific company, you can always jump over to their website and fill out the quote form the provide.

Choosing the best provider shouldn’t rely on just a cheap quote. Agents should be asked these questions:

• Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
• How experienced are they in personal risk management?
• Which insurance company do they prefer to write with?
• When do they do a full risk review?
• What insurance companies do they work with in Newark?
• How long have they been in business?
• Does their agency support local causes in Newark?
• Where would your vehicle be repaired?

If you are searching for local Newark agents, you need to know there are two types of insurance agents and how they can write your policy. Agents in Newark may be either independent agents or exclusive agents depending on their employer.

Exclusive Car Insurance Agencies

Agents in the exclusive channel can usually just insure with one company and some examples include Allstate, AAA, Farmers Insurance, and State Farm. These agents are unable to provide rate quotes from other companies so they really need to provide good service. Exclusive agents receive a lot of sales training on the products they sell which aids in selling service over price. Consumers often choose to use a exclusive agent mostly because of the prominent brand name rather than low price.

Below are Newark exclusive agents who may provide you with price quotes.

• State Farm Insurance
  360 Chestnut St – Newark, NJ 07105 – (800) 701-5909 – View Map
• Farmers Insurance – Christine Veliz
  229 Bloomfield Ave – Newark, NJ 07104 – (973) 482-1975 – View Map
• Allstate Insurance: Celia Caro
  66 Wilson Ave – Newark, NJ 07105 – (973) 690-6400 – View Map

View more agents

Independent Car Insurance Agencies

Agents that elect to be independent are not required to write business for one company so they can insure your vehicles amongst many companies and help determine which has the cheapest rates. If they find a cheaper price, they simply move the coverage in-house and you don’t have to find a new agent.

When comparing rate quotes, it’s recommended you compare quotes from independent agents so that you can do a thorough price comparison. They often place coverage with less well-known companies that can offer cheaper rates than bigger companies.

The following is a short list of independent insurance agencies in Newark that are able to give price quotes.

• Arabo Insurance Group Inc
  675 Bergen St – Newark, NJ 07108 – (973) 391-9595 – View Map
• Milwaukee Insurance Co
  10 Park Pl – Newark, NJ 07102 – (973) 648-3000 – View Map
• Halsey Street Agency Inc
  199 Halsey St – Newark, NJ 07102 – (973) 621-0955 – View Map

View more agents

Cheap insurance prices are available

In this article, we presented a lot of ways to get a better price on Chevy Malibu insurance in Newark. The key thing to remember is the more price quotes you have, the better chance you’ll have of finding affordable Chevrolet Malibu insurance quotes. Consumers could even find that the best price on insurance is with an unexpected company. These companies may often insure only within specific states and give better rates compared to the large companies like Progressive and GEICO.

As you restructure your insurance plan, it’s very important that you do not skimp on coverage in order to save money. There are too many instances where someone dropped collision coverage and learned later that the few dollars in savings costed them thousands. Your goal is to get the best coverage possible at the lowest possible cost.

More tips and info about insurance is available in these articles:

• Preventing Carjacking and Theft (Insurance Information Institute)
• What Insurance is Cheapest for a Mazda CX-7 in Newark? (FAQ)
• Who Has Affordable Car Insurance for a Nissan Versa in Newark? (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)
• What Auto Insurance is Cheapest for Drivers with a DUI in Newark? (FAQ)
• Speed and Speed Limit FAQ (iihs.org)
• Child Safety Seats (Insurance Information Institute)