Tuesday, July 28, 2009

NJ Auto Insurance



That the way it is, even in New Jersey... way to go! I've always believed in comparing quotes to get the cheapest of the lot.

Saturday, July 25, 2009

Auto Insurance Quotes –- What Affects the Cost of Your Auto Insurance?

When you purchase an auto insurance, the insurer has to assess the amount of risk they’re undertaking by considering a list of factors. These factors determine the likelihood that you may experience an accident or loss and thereby claim from the insurer.


Knowing the factors that impact your auto insurance premiums can help you lower the premiums you have to pay. Not all companies use the same criteria to determine your insurance premiums. Yet there are common factors that influence your automobile insurance rates:

The Make, Model And Value Of Your Vehicle

A luxury or high performance car will always cost more to insure than a beat-up, older vehicle. Insurers may also offer discounts for vehicles fitted with safety features, so it’s important to check with your local insurer before purchasing your vehicle.

The cost to insure different makes and models of vehicles can also vary among insurers. Therefore you are advised to check with several insurers to get the best price and coverage for your needs.

Driving Record

If you have a driving record that includes motor vehicle violations, suspensions or at-fault accidents, the price you pay for your auto insurance may be higher. Insurance companies consider you to be a high-risk driver and thus charge you more.

Fortunately the consequence of a tainted driving record does not last forever. Incidences that happened a long time ago are often considered less seriously, or not at all.

Geographic Area

The number of claims filed by policyholders in your area of residence will affect your car insurance rates. After all, your location is where you’ll drive past almost everyday.

Gender, Age and Marital Status

Statistically, males and young adults are more likely to get into an accident than female and more mature drivers. And if you’re married, you tend to have less accidents and have less claims. Thus older, married women tend to enjoy better rates than single, young men.

Vehicle Use

The more you use your vehicle, the more risk you’re exposed to. Therefore the distance between your office (or school) and home may affect the cost of your insurance. Whether you use your vehicle for personal or business use may also affect your premiums.

Credit History

Some insurers will use your credit history as one of the factors in determining risk. Therefore it will be more advantageous to maintain a good credit score.

Finally, the costs of your auto insurance changes as you make policy changes. These may include adjustment of coverage limit, changing of deductible, relocating to a new area or adding/removing a driver from your policy.