I doubt anyone is fond of buying car insurance, especially when they are aware that they could lower their rates if they shopped around.
Amazingly, a recent NerdWallet.com study showed that the vast majority of car insurance customers in Virginia have been with the same company for over three years, and nearly the majority have never quoted car insurance rates at all. Drivers in America can cut their rates by almost 46.5% a year, but they just don't want to shop around. Companies like GEICO, Progressive and Allstate increase brand awareness with ads and it can be hard to ignore the propaganda and do the work needed to find the best deal.
It's smart to do price comparisons at least once a year since prices are usually higher with each renewal. Just because you had the best deal on Jeep Wrangler insurance in Norfolk on your last policy there may be better deals available now. You can search a lot of Wrangler insurance online but by reading this article, you're going to learn a bunch of ideas how to stop overpaying for insurance in Norfolk.
How to compare free Norfolk Jeep Wrangler insurance rate quotes
The companies shown below are ready to provide price quotes in Virginia. If multiple providers are shown, it's a good idea that you click on several of them to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Wrangler Sport 4WD 2-Dr||$82||$112||$242||$14||$72||$522||$44|
|Wrangler Unlimited Sport 2WD 4-Dr||$128||$160||$332||$20||$100||$740||$62|
|Wrangler Sport Islander Package 4WD 2-Dr||$170||$316||$312||$18||$94||$910||$76|
|Wrangler Unlimited Sport 4WD 4-Dr||$172||$218||$308||$18||$92||$808||$67|
|Wrangler Sahara 4WD 2-Dr||$156||$234||$248||$14||$74||$726||$61|
|Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$184||$174||$422||$24||$126||$930||$78|
|Wrangler Unlimited Sahara 2WD 4-Dr||$170||$214||$302||$18||$90||$794||$66|
|Wrangler Rubicon 4WD 2-Dr||$252||$328||$338||$20||$100||$1,038||$87|
|Wrangler Unlimited Sahara 4WD 4-Dr||$106||$178||$364||$22||$108||$778||$65|
|Wrangler Unlimited Rubicon 4WD 4-Dr||$256||$276||$422||$24||$126||$1,104||$92|
|Get Your Own Custom Quote Go|
Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Virginia minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Prices do not factor in Norfolk location which can influence auto insurance rates considerably.
Full coverage versus liability-only in Norfolk
The example below illustrates the comparison of Jeep Wrangler yearly insurance costs when comparing full coverage to liability only. The price estimates are based on no tickets, no at-fault accidents, $250 deductibles, single male driver, and no other discounts are factored in.
Guidelines for eliminating full coverage
There is no definitive formula of when to eliminate comp and collision coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost minus the deductible, then you might consider buying liability only.
For example, let's assume your Jeep Wrangler replacement value is $8,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $7,000 after paying the physical damage deductible. If premiums are more than $700 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.
There are some circumstances where eliminating full coverage is not in your best interest. If you have an outstanding loan on your vehicle, you have to maintain full coverage to protect the lienholder's interest. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not buy liability only.
Don't overlook these Jeep Wrangler insurance discounts
Some insurance providers don't always advertise all available discounts in a way that's easy to find, so the following is a list of a few of the more well known and the harder-to-find credits available to lower your premiums when you buy Norfolk auto insurance online.
- Safe Drivers - Drivers without accidents may receive a discount up to 45% than drivers with accidents.
- Discount for Life Insurance - Select companies reward you with a discounted price on car insurance if you buy auto and life insurance together.
- Save over 55 - Older drivers may receive a small decrease in premiums.
- Waiver for an Accident - Not necessarily a discount, but companies like Progressive and Allstate will turn a blind eye to one accident without getting socked with a rate hike if you have no claims for a certain period of time.
- New Car Discount - Buying insurance coverage on a new vehicle is cheaper since new model year vehicles have better safety ratings.
- Drivers Education - Require your teen driver to successfully take a driver's education course in school.
Remember that some credits don't apply to your bottom line cost. Most only cut specific coverage prices like collision or personal injury protection. So even though they make it sound like you would end up receiving a 100% discount, nobody gets a free ride.
A list of companies and some of the premium reductions they offer can be found below.
- State Farm offers discounts including good student, defensive driving training, safe vehicle, accident-free, and good driver.
- Esurance may offer discounts for online quote, renters, Pac-12 alumni, DriveSense, and paid-in-full.
- Progressive includes discounts for online signing, continuous coverage, multi-vehicle, online quote discount, homeowner, multi-policy, and good student.
- Liberty Mutual offers premium reductions for exclusive group savings, teen driver discount, good student, multi-car, multi-policy, and new graduate.
- Auto-Owners Insurance policyholders can earn discounts including teen driver, good student, mature driver, anti-lock brakes, group or association, and paperless.
- GEICO has discounts for military active duty, seat belt use, daytime running lights, five-year accident-free, and good student.
If you want cheaper Norfolk auto insurance quotes, ask each insurance company to apply every possible discount. Some of the discounts discussed earlier may not apply to policyholders in Norfolk.
Insurance Rate Influencing Factors
Multiple criteria are part of the calculation when quoting car insurance. A few of the factors are predictable like an MVR report, but other criteria are less obvious like your continuous coverage and annual miles driven.
The itemized list below are some of the most common factors utilized by car insurance companies to help set your rate level.
- Tickets can be expensive - Having a single speeding ticket can bump up the cost by twenty percent. Careful drivers get better prices as compared to careless drivers. Drivers who have serious violations such as DWI, reckless driving or hit and run convictions are required to file a proof of financial responsibility form (SR-22) with their state's licensing department in order to prevent a license revocation.
- Remove unneeded extra coverages - There are quite a few additional coverages that sound like a good idea at the time if you aren't careful. Coverages for personal injury protection, death and dismemberment, and term life insurance could be just wasting money. You may think they are a good idea when talking to your agent, but now you might not need them so remove them from your policy.
- Good credit saves on car insurance - Having a bad credit rating is likely to be a major factor in determining what you pay for car insurance. People that have good credit tend to be better drivers and file fewer claims than drivers who have lower credit scores. Therefore, if your credit can use some improvement, you could potentially save money when insuring your Jeep Wrangler by taking the time to improve your credit score.
- Married people drive safer - Your spouse may save some money on your policy. Having a significant other generally demonstrates drivers are less irresponsible and insurance companies reward insureds because being married results in fewer claims.
- Buy a safe car and pay less - Safer cars tend to have lower insurance rates. Safer cars result in less severe injuries and reduced instances of injuries translates directly to fewer claims which can mean better rates for you. If your Jeep is rated at a minimum four stars on Safercar.gov you may qualify for a discount.
- Liability coverage claims can be big - Your policy's liability coverage will afford coverage if you are determined to be liable for damages caused by your negligence. It will provide legal defense coverage which can be incredibly expensive. Carrying liability coverage is mandatory and cheap compared to comp and collision, so do not cut corners here.
- Jeep Wrangler insurance loss probability - Auto insurance companies use historical loss data to help calculate a profitable premium rate. Models that the statistics show to have a trend towards higher claims will cost more to insure. The table below illustrates the insurance loss data for Jeep Wrangler vehicles.
For each insurance policy coverage type, the claim probability for all vehicles, regardless of make or model, is represented as 100. Numbers under 100 indicate a favorable loss history, while values that are above 100 point to more frequent losses or a tendancy for losses to be larger than average.
Jeep Wrangler Insurance Loss Statistics
Specific Jeep Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Jeep Wrangler 2dr SWB 4WD 54 134 71 57 52 102 Jeep Wrangler 4dr 4WD 58 151 82 66 62 120
Statistics from IIHS.org for 2013-2015 Model Years
You may require the services of an insurance agency
A lot of people would rather go talk to an agent and doing so can bring peace of mind Most agents can make sure you are properly covered and help file insurance claims. One of the great benefits of comparing rates online is the fact that you can find lower rates but also keep your business local. Buying from and supporting neighborhood insurance agencies is important especially in Norfolk.
After filling out this simple form, the coverage information gets sent to participating agents in Norfolk who can give free rate quotes for your business. You won't even need to search for an agent since rate quotes are delivered to you instantly. In the event you want to quote rates from a specific company, just go to their quote page and fill out the quote form the provide.
When finding a local Norfolk insurance agent, you should know the different types of agencies and how they differ in how they quote coverages. Agents in Norfolk are considered either independent or exclusive depending on the company they work for. Either can properly insure your vehicles, but it is a good idea to know why they differ since it can affect the kind of agent you use.
Independent Agents (or Brokers)
These agents are not restricted to one company so they can write business through many companies enabling the ability to shop coverage around. If you want to switch companies, your agent can switch companies and you don't have to switch agencies.
If you are comparing rate quotes, we recommend you include price quotes from a few independent agents to ensure the widest selection of prices.
The following is a partial list of independent insurance agencies in Norfolk that may be able to give you rate quotes.
Agents in the exclusive channel generally can only insure with one company and examples are Allstate, State Farm and Farm Bureau. Exclusive agents cannot provide other company's prices so they have no alternatives for high prices. Exclusive agents are usually well trained in insurance sales which helps offset the inability to provide other markets.
Listed below are Norfolk exclusive agents that can give you price quote information.
Deciding on a insurance agency should include more criteria than just a cheap quote. Here are some questions you might want to ask.
- Do they get extra compensation for selling add-on coverages?
- Do they offer claims assistance after hours?
- What will you get paid if your car is a total loss? How is that amount determined?
- If you are a high risk driver, do they have special markets for your coverage?
- In the event of vehicle damage, can you pick the collision repair facility?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
Will just any policy work for me?
When quoting and choosing the best auto insurance coverage, there isn't really a best way to insure your cars. Your needs are unique to you and your auto insurance should be unique as well. These are some specific questions can help discover whether you might need professional guidance.
- Does my policy pay for OEM or aftermarket parts?
- Are my friends covered when driving my Jeep Wrangler?
- Does my Jeep Wrangler need full coverage?
- Do all my vehicles need collision coverage?
- Do I need added coverage for expensive stereo equipment?
- Is my Jeep Wrangler covered for flood damage?
- Does my policy cover me when driving someone else's vehicle?
If it's difficult to answer those questions then you might want to talk to a licensed insurance agent. If you don't have a local agent, complete this form or you can go here for a list of companies in your area. It only takes a few minutes and can provide invaluable advice.
Ads can be misleading
Consumers can't ignore all the ads for car insurance savings by Allstate, GEICO and Progressive. All the ads advertise the message that people will save if you move your coverage.
How does every car insurance company charge lower premium rates? This is the way they can do it.
All the different companies have a preferred profile for the type of driver that earns them the most money. One example of a profitable customer could possibly be over the age of 45, has no tickets, and drives a car with an anti-theft system. Any customer that meets those criteria receives the best prices in Norfolk and therefore will cut their rates substantially.
Potential customers who cannot meet these criteria will get higher prices which usually ends up with the customer buying from someone else. The ad wording is "customers who switch" not "everyone who quotes" will save that much if they switch. This is how companies can truthfully make the claims of big savings.
Because of the profiling, drivers should compare as many free Norfolk auto insurance quotes as you can. It is impossible to predict the company that will be your best fit.
Smart consumers save more
When trying to cut insurance costs, make sure you don't reduce needed coverages to save money. Too many times, someone sacrificed uninsured motorist or liability limits and learned later that they should have had better coverage. Your strategy should be to purchase a proper amount of coverage at the lowest possible cost, but do not skimp to save money.
Throughout this article, we presented some good ideas how to save on Jeep Wrangler insurance in Norfolk. It's most important to understand that the more rate quotes you have, the better your comparison will be. You may even be surprised to find that the best car insurance rates are with the least-expected company. These smaller insurers may cover specific market segments cheaper than their larger competitors like State Farm, GEICO and Nationwide.
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- Teen Driving Statistics (GEICO)
- Insurance Losses by Make and Model (iihs.org)