Auto Insurance help

Hackrs,
Are there any pointers in getting a better insurance rates?
I have been with GEICO all this while. and whenever i have taken quotes from other providers (progressive, farmers and couple more) i have always received higher quotes than my current geico rate for the same coverage.

I am currently leasing Camry : Single driver on the policy : $700 for 6 months : Central NJ

The only better quote i have received is NJM - 12 months $1200

Is there any secret in getting better insurance rates ?

Any inputs are greatly appreciated !

Thanks !

Increase the deductible from 500 to 1k or 1.5k

I doubt you’re going to find anything lower than NJM. I searched for a few weeks to find something lower but it was useless. Combined with the dividend check you get from them, they will most likely be the cheapest in Jersey

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As an agent here are the tips I can give you to lower your premiums (note premiums are going up in almost all markets right now).

#1 credit-- in all states other than California credit is used to determine rates. If you have more than one person on the policy put the driver with the best credit as the primary.

#2 prior limits-- Having higher liability limits on your current policy helps when shopping for a new policy. Try raising your liability limits on your current policy before shopping for a new policy.

#3 Multi policy- the more you have with a carrier the better your rates will be. Auto and home is the best, so if you own your home try and place both with the same carrier.

#4 compare deductibles-- sometimes it makes sense to raise them, other times it doesn’t.

#5 claims-- costs are rising for insurers on claims. If you have several claims it will affect your rate. If your not successful in getting a good rate, wait until some of the claims fall off your record.

#6 as always keep in mind that the cheapest is not always the best. You want a company that will stand behind you if you have a major claim.

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In the thread I linked, Michael mentioned MetroMile, a relatively new insCo which logs how much (distance) you drive and charges partially based on that. I was at a body shop the other day and they said they had their first adjuster/claims interaction with the company recently and it was all positive.

Thank you so much guys !
As always learned a few new things from this … :smile:

Answer

For you
http://www.state.nj.us/dobi/division_consumers/insurance/autopremiumcomparison.htm

And then find an Independent Multi Line Agent (can quote you many carriers)
Like
http://mandfinsurance.com/
http://www.theparkeragency.com/

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In the thread I linked, Michael mentioned MetroMile, a relatively new insCo which logs how much (distance) you drive and charges partially based on that. I was at a body shop the other day and they said they had their first adjuster/claims interaction with the company recently and it was all positive.

Metromile is cost-effective if you’re under 10k miles, but I’ve found the discount goes away compared to other providers once you’re above that. At least that’s how it is in VA.

That makes sense. The girl at the body shop is going to sign up herself. She estimates that at around 6-7k miles it will halve her insurance premiums