Trying to find low cost Scion xD insurance in Newark can seem to be slightly frustrating for people not familiar with buying insurance online. You have so many different companies and agents to choose from that it can easily turn into more work than you anticipated to compare premium rates on Scion xD insurance.
It’s hard to fathom, but nearly 70% of consumers have purchased from the same company for four years or more, and just under half have never taken the time to shop around. New Jersey insurance shoppers could save as much as $700 a year, but they don’t know how much they could save if they moved their coverage to a different company.
You need to do rate comparisons occasionally due to the fact that insurance prices are constantly changing. Even if you got the best deal on Scion xD insurance in Newark six months ago there may be better deals available now. You’ll find quite a bit of inaccurate information about xD insurance on the web, but in this article, you’re going to get some great ideas on how to stop overpaying for insurance in Newark.
To get cheaper Newark auto insurance quotes, there a variety of ways of comparing rates from companies that offer car insurance in New Jersey. The best way to find affordable Scion xD insurance rates is simply to get online rate quotes.
Just keep in mind that comparing all the rates in your area helps improve the odds of finding the best offered rates. Some smaller insurers do not give online rate quotes, so you also need to get price estimates on coverage from those companies, too.
The following companies can provide price comparisons in New Jersey. If you want cheaper auto insurance in NJ, we recommend you visit as many as you can in order to find the cheapest rates.
Insurance statistics for a Scion xD
The rate information displayed below highlights detailed analysis of insurance rates for Scion xD models. Having a better idea how premiums are formulated helps drivers make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XD 4-Dr Hatchback | $172 | $406 | $544 | $32 | $162 | $1,316 | $110 |
| Get Your Own Custom Quote Go | |||||||
Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, homeowner, and multi-vehicle. Estimates do not factor in specific location information which can alter prices significantly.
Physical damage deductibles: Should you raise them?
One of the hardest decisions when shopping for insurance is how high or low should comp and collision deductibles be. The premium rates below may help you to understand the premium difference when you buy lower versus higher policy deductibles. The first rate quote example uses a $250 physical damage coverage deductible and the second data table uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XD 4-Dr Hatchback | $324 | $626 | $480 | $28 | $144 | $1,627 | $136 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| XD 4-Dr Hatchback | $200 | $394 | $480 | $28 | $144 | $1,246 | $104 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Estimates do not factor in the specific area where the vehicle is garaged which can modify insurance rates greatly.
Based on these figures, using a $250 deductible will cost you about $32 more each month or $384 every year than buying the higher $1,000 deductible. Because you would be required to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you average more than 23 months between claim filings, you would come out ahead if you elect the higher deductible.
How to calculate if higher deductibles make sense
| Average monthly premium for $250 deductibles: | $136 |
| Average monthly premium for $1,000 deductibles (subtract): | – $104 |
| Monthly savings from raising deductible: | $32 |
| Difference between deductibles ($1,000 – $250): | $750 |
| Divide difference by monthly savings: | $750 / $32 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 23 months |
One important caveat is that raising deductibles to save money results in having to pay to pay more out-of-pocket when you have to file a claim. You will want to have some savings in the event you need to pay more for the deductible.
The illustration below demonstrates how deductibles and can raise or lower Scion xD insurance costs for each age group. The premium estimates are based on a single male driver, comp and collision included, and no policy discounts are applied.
Cautious drivers save money
The chart below illustrates how traffic citations and at-fault fender-benders can increase Scion xD auto insurance rates for each age group. The premiums assume a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied.
Scion xD full coverage rates compared to liability only
The information below visualizes the comparison of Scion xD premium costs with and without physical damage coverage. The costs are based on no claims or driving violations, $250 deductibles, marital status is single, and no additional discounts are factored in.
When to switch to liability coverage only
There is no definitive rule of when to exclude physical damage coverage on your policy, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than about 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s say your Scion xD replacement cost is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $6,000 after the policy deductible has been paid. If you are paying more than $600 a year for comprehensive and collision coverage, then you might want to think about dropping full coverage.
There are a few situations where only buying liability is not financially feasible. If you haven’t satisfied your loan, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage in place.
Three good reasons to insure your Scion vehicle
Despite the fact that auto insurance is not cheap in Newark, paying for auto insurance is required by state law in New Jersey and it also provides benefits you may not be aware of.
- Just about all states have minimum mandated liability insurance limits which means you are required to buy a specific level of liability insurance coverage in order to drive the car 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.
- If you bought your Scion with a loan, most lenders will have a requirement that you have comprehensive coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the lender may insure your Scion at a more expensive rate and force you to pay a much higher amount than you were paying before.
- Auto insurance protects not only your Scion xD but also your assets. It will also reimburse you for medical expenses incurred in an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense if anyone sues you for causing an accident. If you have damage to your Scion as the result of the weather or an accident, collision and comprehensive coverages will cover the repair costs.
The benefits of buying auto insurance are without a doubt worth the cost, especially if you ever need it. Unknowingly, the average driver is currently overpaying as much as $869 every year so you should quote rates each time the policy renews to be sure current rates are still competitive.
What Determines Scion xD Insurance Rates?
Many factors are used when pricing auto insurance. Some factors are common sense like a motor vehicle report, but others are less obvious like your vehicle usage or your financial responsibility.
Listed below are some of the things utilized by car insurance companies to help set your premiums.
- Prevent theft and save – Purchasing a vehicle that has an advanced theft prevention system can get you a discount on your car insurance. Advanced theft deterrents such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all hinder vehicle theft.
- Annual miles is a factor – The more you drive each year the higher your rates will be. Many insurance companies charge to insure your cars partially by how you use the vehicle. Vehicles that are left in the garage get more affordable rates than those used for commuting. It’s a good idea to make sure your car insurance coverage is rated on the proper vehicle usage, because improper ratings can cost you money. Having an incorrect usage rating on your xD can result in significantly higher rates.
- If you don’t need it don’t buy it – There are a ton of extra bells and whistles that sound like a good idea at the time when buying car insurance. Insurance for things like vanishing deductibles, towing coverage, and motor club memberships are examples of these. They may sound like good ideas at first, but if you have no use for them eliminate them to save money.
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Performance affects insurance rates – The performance of the car or truck you own makes a huge difference in your auto insurance rates. Lower performance four cylinder passenger vehicles receive the most favorable rates, but the cost you end up paying is determined by many additional factors.
The following data assumes a married female driver age 50, full coverage with $1000 deductibles, and no discounts or violations. The chart compares Scion xD insurance premiums compared to other vehicles that have different performances.
- Credit rating impact car insurance premiums – An insured’s credit score will be a significant factor in determining what you pay. Insureds with excellent credit tend to be more responsible and file fewer claims than drivers with lower credit ratings. If your credit rating leaves room for improvement, you may save money insuring your Scion xD by repairing your credit.
- Too many car insurance claims drive up premiums – If you are a frequent claim filer, you should expect much higher rates or policy non-renewal. Car insurance companies in New Jersey provide discounts to people who only file infrequent claims. Insurance coverage is intended for the bigger claims that can’t be paid out-of-pocket.
Auto insurance discounts are available to cut your rates
Auto insurance is not inexpensive, but you may find discounts that you may not even be aware of. Some of these discounts will be visible at the time of purchase, but a few need to be inquired about before they will apply.
- Save with More Vehicles Insured – Having more than one vehicle with the same auto insurance company qualifies for this discount.
- Passive Restraint Discount – Vehicles equipped with air bags or automatic seat belts may qualify for discounts as much as 30%.
- Newark Homeowners Discount – Just owning your own home can get you a discount because maintaining a house is proof that your finances are in order.
- Multiple Policy Discount – If you combine your homeowners and auto policies with one insurance company you could earn a discount of at least 10 to 15 percent or more.
- Theft Deterrent Discount – Cars, trucks, and SUVs optioned with advanced anti-theft systems are less likely to be stolen so companies will give you a small discount.
- E-sign Discounts – Some of the larger companies will provide an incentive get Newark auto insurance on your computer.
- Driving Data Discount – Insureds who allow companies to study where and when they drive by using a small device installed in their vehicle such as State Farm’s In-Drive may get a rate reduction as long as the data is positive.
- Seat Belt Discounts – Requiring all passengers to buckle up before driving may be able to save a few bucks on medical payment and PIP coverage.
You can save money using discounts, but some credits don’t apply to the whole policy. Most only cut the cost of specific coverages such as liability, collision or medical payments. Just because you may think all those discounts means the company will pay you, you won’t be that lucky.
The information below shows the difference between Scion xD insurance costs with and without discounts applied to the policy rates. The rates are based on a female driver, no tickets, no at-fault accidents, New Jersey state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, homeowner, multi-car, marriage, and claim-free discounts applied.
To choose insurers that offer many of these discounts in Newark, follow this link.
Do I just need basic coverages?
When selecting coverage, there really is no “best” method to buy coverage. You are unique and your insurance should be unique as well.
For example, these questions might point out whether or not you will benefit from professional help.
- Can I afford low physical damage deductibles?
- When do I need to add a new car to my policy?
- Is my cargo covered for damage or theft?
- How do I insure my teen driver?
- How can I find cheaper teen driver insurance?
- Does car insurance cover theft of personal property?
If you can’t answer these questions but a few of them apply, you might consider talking to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of insurance companies in your area.
When to contact a local insurance agent
Some consumers would rather talk to a local agent and there is nothing wrong with that. The best thing about comparing rates online is you can get lower car insurance rates and still buy from a local agent. Buying from and supporting neighborhood agents is important especially in Newark.
After completing this form (opens in new window), the quote information is sent to companies in Newark who will give competitive quotes for your coverage. You won’t need to drive around because prices are sent instantly to you. You can get cheaper insurance rates and work with a local agent. If you wish to quote rates for a specific company, just navigate to their website and submit a quote form there.
The different types of auto insurance agents
If you need to find a local insurance agency, there are a couple of types of agencies and how they can quote your rates. Insurance agents in Newark can be categorized as either independent (non-exclusive) or exclusive.
Independent Insurance Agencies
These agents are appointed with more than one company so they can write business with lots of companies and help determine which has the cheapest rates. To move your coverage to a new company, an independent agent can move your coverage and the insured can keep the same agent. If you need cheaper insurance rates, you will want to get rate quotes from independent agents so that you have a good selection of quotes to compare. Most can insure with small regional insurance companies that may provide cheaper insurance rates.
Shown below are independent insurance agencies in Newark that may be able to give you price quote information.
- AMC Insurance Inc
Newark, NJ 07106 – Newark, NJ 07106 – (973) 373-3300 – View Map - Dependable Insurance Agency Inc
1030 S Orange Ave – Newark, NJ 07106 – (973) 372-0002 – View Map - Arabo Insurance Group Inc
675 Bergen St – Newark, NJ 07108 – (973) 391-9595 – View Map
Exclusive Insurance Agents
These type of agents have only one company to place business with and examples are Allstate, State Farm and Farmers Insurance. Exclusive agencies are unable to provide other company’s prices so they have no alternatives for high prices. They are highly trained on the products they sell which helps them compete with independent agents. Many people use the same agent primarily because of the prominent brand name rather than low price.
Below is a list of exclusive agents in Newark willing to provide price quote information.
- 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 - Farmers Insurance – Anthony Pugliese
41 Wilson Ave – Newark, NJ 07105 – (973) 732-2105 – View Map
Picking an insurance agent shouldn’t rely on just the bottom line cost. Agents should be asked these questions:
- Will they take your side in the event of a claim?
- How are claims handled?
- Do the companies they represent have a solid financial rating?
- Is the agency covered by Errors and Omissions coverage?
- What is their Better Business Bureau rating?
If you receive acceptable answers as well as cheap xD insurance quotes, you may have just found a car insurance agent that meets the requirements to provide insurance coverage.
A little work can save a LOT of money
Some insurance companies do not provide online quoting and these small insurance companies sell through independent agents. Cost effective Scion xD insurance can be purchased both online in addition to local insurance agencies, so you need to compare both in order to have the best price selection to choose from.
When shopping online for insurance, it’s very important that you do not buy lower coverage limits just to save a few bucks. There have been many cases where drivers have reduced uninsured motorist or liability limits and learned later that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to buy a smart amount of coverage for the lowest cost, but do not sacrifice coverage to save money.
How to find affordable Scion xD insurance in Newark
The preferred way to get low-cost auto insurance rates in Newark is to compare prices once a year from providers in New Jersey. Drivers can shop around by completing these steps.
- First, read about how auto insurance works and the changes you can make to keep rates low. Many policy risk factors that cause rate increases such as at-fault accidents, careless driving, and an unacceptable credit history can be eliminated by being financially responsible and driving safely.
- Second, request price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from a single company like GEICO and Allstate, while independent agents can quote prices for many different companies. View companies
- Third, compare the price quotes to your existing coverage to see if you can save by switching companies. If you find a better price and switch companies, verify that coverage does not lapse between policies.
The most important part of shopping around is that you’ll want to make sure you compare similar coverage information on each quote and and to look at as many different companies as possible. This enables a fair price comparison and the best price quote selection.
Much more information about insurance in New Jersey can be found at the links below
- Five Mistakes to Avoid (Insurance Information Institute)
- Who Has the Cheapest Car Insurance Quotes for a Subaru Outback in Newark? (FAQ)
- Who Has Affordable Car Insurance Rates for Postal Workers in Newark? (FAQ)
- How Much is Auto Insurance for a Honda CR-V in Newark? (FAQ)
- Who Has Affordable Newark Auto Insurance for Drivers with a Bad Driving Record? (FAQ)
- Booster Seat Ratings (iihs.org)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)