Studies show that New Jersey auto insurance rates are among the highest in the country, along with Michigan and Montana. Nonetheless, you may still qualify for some of the lowest rates in the state. Here are the types of drivers who can get better bargains on motor vehicle insurance.
Young Drivers
Surprisingly, drivers in their early 20s can often get auto coverage for less. Some can pay as little as $700 a year. The reason? Drivers in this demographic usually have cheaper cars and may not have families that need protection.
Retired Drivers
Studies show that, as drivers age, they exercise more caution behind the wheel. Accordingly, for insurance providers, they offer less risk. Some insurance companies, though, may require that persons take a safe-driving class after a certain age, if they want to get discounts.
Drivers with Good Credit
Most insurance companies use credit scores to predict the likelihood of future accidents, and are inclined to assess higher rates to people with lower credit scores. However, one study showed that the average premium for people with dicey credit was almost identical to that for people with no credit issues. The lesson—always get more than one quote.
Good Drivers
If you’ve never had a ticket or been at fault in an accident, you’ll have an advantage when it comes to car insurance premiums. Insurance companies typically tie most discounts to factors that indicate good and sensible driving habits. Be sure to ask your agent what discounts might apply.
Contact the New Jersey Personal Injury Lawyers at the Law Offices of Harold J. Gerr
At the Law Offices of Harold J. Gerr, we have fought for the rights of personal injury victims in central New Jersey for more than four decades. We carefully choose the cases we handle, so that we can provide the highest levels of service and personal attention to each client. We are also happy to take over your case, if your first lawyer does not seem to have your best interests in mind.
To set us a free initial consultation, send us an e-mail or call our office at 732-537-8570.
