Insurance premiums contribute to a major chunk of essential expenditure and hence there is a need for choosing the cheap and best car insurance.
To begin with, let us understand the types of mandatory car insurance required according to New Jersey law. The 3 mandatory insurance types are:
Liability Insurance: One that pays for damages (of vehicles only) to the opposite party in case you are the cause of the accident.
Personal Injury Protection: One that pays for the medical expenses of all the persons covered by the policy. This pays for your medical expenses even if you were not the cause for the accident.
Uninsured Motorist Coverage: One that offers you protection if the other person involved in the accident is not properly insured.
Keeping this law in perspective, some simple tips listed below will help find a cheap but good insurance in New Jersey.
Raise your Deductibles: Most of us go for full coverage car insurance packages. This lures us into making every small claim in order to maximize the premium rate. People do not know that this option increases our premium rate by at least 20%. This is especially recommended for careful drivers who have not filed for a single claim in years.
Combine your Insurance: Your car insurance provider in all probability will be involved in providing cover for other asset classes as well. Look if you can combine two or more such assets in one policy. This can reduce the overall premium payable every year.
Check for Discounts: Most policy providers will ask you to mail them for a quote. This is an indication that every quote is personalized and hence opens for negations. It is therefore advisable to ask for discounts before going ahead with the policy.