If you are tired of paying too much for auto insurance in New Jersey, it is time to reviewing your insurance to see if you qualify for lower rates. Just because you are required to carry car insurance NJ does not mean you have to pay an arm and a leg for comprehensive coverage. Studies show that more than 30 percent of drivers in the state of New Jersey pay too much for auto insurance. This is not because the insurance company is purposely charging high premiums. It is because policyholders are not reviewing your insurance renewals at least once each year. Know what to look for when you are reviewing your auto policy renewal declarations page and save.
Address vs. Garaging Location
On an auto insurance policy there is a major difference between the mailing address and the garaging location listed on the policy. If you have moved in the last few years, you should review your garaging zip code to make sure it was updated in the process of updating your address. A portion of your premium is calculated based on where your vehicle is parked a majority of the time. If you receive your mail at one zip code and park your vehicle at another, make sure the zip code ratings are accurate. Updating your zip code can make all the difference if there are less claims reported in the area where you live.
Annual Mileage and Vehicle Usage
Annual mileage and vehicle usage ratings go hand in hand in affecting your car insurance NJ rates. When you move or make a major lifestyle change the last thing you think of doing is phoning your insurance agent to tell them the exciting news. Switching jobs, retiring, or working from home can help lower your insurance premiums. When you do not commute to work, you drive less. Insurance companies charge premiums based on how much you drive annually. Review how many miles you are being rated for to ensure you are not being overcharged. You will also need to review vehicle usage. If you are rated as a commuter or a business driver and you no longer commute to work you will need to update your usage to pleasure.
Multi-Policy Discounts
Insurance companies offer discounts if you carry more than one line of insurance with their company. If you want to save money, consider obtaining a quote for home, renters, condo, life, or health insurance with your auto insurance carrier. The savings will apply to both your auto policy and the other policy you purchase.
You do not have to switch car insurance NJ providers to save money. Review your auto insurance renewal each year to verify it is accurate. If you still feel like your insurance premiums are too high, it may be time to reconsider your loyalty.
Please visit our website here for more information or visit our blog. Thank you.
No comments:
Post a Comment