Lower Your Cost for Auto Insurance Now
If you haven't heard, the price for minimum auto insurance in New Jersey has risen. Auto insurance is a fact of life if you drive a car. It offers financial protection for you in the event that you're involved in an accident.
No one plans for accidents, but they happen, and without insurance, you can lose everything in a lawsuit. New Jersey, like all other states, requires all drivers to carry a minimum amount of insurance.
New Jersey has some of the highest insurance rates in the country. However, there are ways you can save money on your insurance costs.
There are a few things that will impact your rates. Some of these things we have no control over. Age is a big factor. Younger people are deemed riskier to insure. This means that if you carry your teenage kid on the family policy, your rates will be substantially higher.
So, how can you save?
Drive with care. Driving on the Parkway can sometimes feel like you're on a speedway. If you get pulled over and receive a ticket for speeding, your insurance company will increase your rates. Depending on what you're charged with, those increases can be substantial.
Pay your bills on time. Believe it or not, your credit score is factored into your insurance rates. The better your credit score, the more you'll save. According to The Zebra, the savings can be substantial.
Shop around. This one seems obvious, but many people tend to buy their insurance and then live with it for years. Try shopping for new insurance once a year. You might be surprised by the difference in rates.
Look for discount opportunities. Most insurance companies offer discounts you might not think to ask for.
Increase your deductible. This one carries a bit of risk. If you increase your deductible and then have a claim, you'll pay more out of pocket to get repairs. However, this is a way to save on your monthly premiums.
Bundle your insurance plans. Most companies offer many types of insurance policies. In my family, we get our auto, and rental insurance from the same company and pay less for both.
Review your coverage. Make sure you're not paying for coverage you don't need. Many people find the state minimum to be sufficient.
Finally, don't drink and drive. Aside from the obvious risks, getting a DUI will balloon your monthly premium.
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