Camden Car Insurance
There are over 40 reputable insurance carriers to choose from in the state of New Jersey. As a resident of Camden, this may seem quite overwhelming. Not every carrier may be the one for your particular situation or meet your needs, so doing some comparisons is well worth your time.
The first step to take before investigating for automobile insurance is to see what is required by your state.
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The state of New Jersey, like most states, has minimum requirements for automobile insurance.
Types of Mandatory Insurance
The required types of coverage in Camden, New Jersey are Liability, Personal Injury Protection, and Uninsured/Underinsured Motorist.
Liability coverage is designed to protect the insured if that individual is negligent and is responsible for the accident. This coverage will protect the policyholder from claims of bodily injury and/or property damage to others.
Personal injury protection, also known as PIP, will pay medical expenses anyone covered under your policy as a result of an automobile accident. This coverage will pay regardless if you were at fault or not at fault. You may hear this coverage referred to as No Fault coverage
Uninsured/underinsured motorist coverage will pay you for bodily injury and property damage if you are in an accident with an uninsured or underinsured. If someone is underinsured, your policy will pay up to your policy limits for bodily injury and property damage.
Required Policy Limits
The required policy limits for residents of New Jersey are as follows:
- Bodily Injury Liability Coverage - $15,000 per person, $30,000 per accident
- Property Damage Liability Coverage - $ 5,000 per accident
- Personal Injury Protection - $15,000 per person or accident
- Uninsured/Underinsured Motorist Coverage - $15,000 per person, $30,000 per accident or Bodily Injury $ 5,000 per accident for Property Damage
Voluntary Insurance Coverage
In addition to the mandatory coverage, there are additional types of insurance that you may wish to purchase.
Comprehensive and collision coverage are valuable coverages, especially if you have a later model vehicle. While they are not required by the state, if you have a loan or are leasing a vehicle, the lender may require this coverage.
Comprehensive coverage will cover your vehicle for losses from fire, vandalism, animal collision, and theft. Collision insurance covers damage to your vehicle as a result of colliding with another object or vehicle, with the exception of collision with animals.
Unlike liability insurance, comprehensive and collision will pay regardless of who is at fault.
How is Automobile Insurance Priced
The premium quotation that you receive will depend on several factors. Liability insurance premiums will be influenced by the following:
- Age of the driver
- Prior driving record
- Where the vehicle is garaged
- Claims history
Comprehensive and collision coverage rates are based on:
- Age of vehicle
- Value, make and model of vehicle
- Deductibles
Once you have an understanding of the different types of insurance and how the policies are rated, there are a few more considerations before getting quotes.
Make sure that the prospective insurer is licensed in the state of New Jersey. Your state’s insurance department can give you a list of licensed carriers in your state.
As you will see, many companies sell automobile insurance to residents in Camden. While low pricing is ideal, it may not guarantee that you will receive good service if you have a claim or need to make changes to your policy. It is a good idea to obtain reviews of prospective carriers.
Pricing will vary from one carrier to another, so using comparison quotes is the best way to find the right policy and company that fits your individual needs.
There are several ways to get quotes for comparison. Most carriers have websites that will offer quotes or you could contact an independent insurance agent that represents several carriers.
Perhaps the fastest and easiest method, however, is to use one of the online sites that does the leg work for you.
Websites like this one will offer you various auto quotes from different companies. You will only need to input your information once and you will get quotes from several insurance companies.
There is both good news and bad news for residents of Camden. The good news is that Camden is not the highest premium for auto insurance, but the bad news is that it is the 7th highest in the state.
The average insurance premium is $2,703.73 per year compared to Newark’s $2,778.29. These are only averages and yours may be higher or lower.
The following scenario will give you an idea of the variety of quotes that are available:
A female driver between 55-70 years old has no tickets or accidents. She has not taken a defensive driver course. Her vehicle, a 2009 Toyota Prius, is garaged in Camden, N.J., and is used for pleasure.
Quotes are based on the following policy conditions:
- $250,000/$500,000 Bodily Injury
- $100,000 Property Damage Liability
- $250,000 Personal Injury
- $250,000/500,000 Uninsured/Underinsured Bodily Injury
- $100,000 Uninsured/Underinsured Property Damage
- $1,000 Medical Payments
- $500 Deductible Comprehensive
- $1,000 Deductible Collision
- $40 Per Day/$1,200 Maximum Rental Reimbursement
Six-month prepaid premium quotes from popular auto insurance companies in her area are as follows:
- Progressive - $1,153.00
- Esurance (Allstate) - $961.00
- GEICO - $853.00
- Farmers Insurance - $1,094.30
All of the above quotes are based on Limited Tort. Limited tort reduces your cost by limiting your recovery to all medical and other out-of-pocket expenses. However, unless injuries are defined as serious, there is no recovery for pain and suffering or non-monetary damages.
As you can see, there is a considerable difference between the quotes. All of these quotes are based on the same information, however, each carrier may offer additional ways to lower your premium.
Methods to Reduce Automobile Premium
Most automobile insurers will offer discounts if you insure your home or apartment with the same carrier. This method could reduce your auto premium by as much as 15%.
Increasing the deductibles for comprehensive and collision will reduce your policy premium, the percentage will vary from carrier to carrier.
If your vehicle is older, you may consider eliminating the comprehensive and collision coverage. By checking the Kelly Blue Book and N.A.D.A. you can find out what your vehicle is worth and whether it is worth keeping the coverage.
Taking a defensive driving course is a good way to bring down your premium by 10%, this discount generally applies to liability and collision.
Check your policy to make sure you are getting a discount for any airbags, anti-theft devices or anti-lock brakes.
Being a member or an employee of certain organizations may make you eligible for insurance discounts as well as organizations like AARP or AAA.
Automobile insurance premiums are high in Camden, but you do have some control over what you pay. Whether you decide to use an independent agent or use the internet, comparing quotes will save you money.
If you are searching for the best car insurance rates, simply enter your zip code below to find affordable rates in your area!