The average jeep grand cherokee insurance cost is $1,414 per year or $118 per month. But these rates are usually calculated for 40 year old drivers that have good driving records. To that effect, if you are a driver under 21 then you can be expected to pay more for insurance on Jeep Cherokee. Besides, there could be a number of factors which may impact your ability to qualify for sustainable Jeep Cherokee premium rates. This might also apply to individual drivers as apart from age, insurers consider parameters like driver’s gender, residential location, driving record, credit history as well as the exact Jeep Cherokee model which is to be insured.
According to National Automobile Dealers Association (NADA), jeep grand Cherokee insurance cost for a 5 year full coverage is around $5,000. This is provided that you drive the base model and if that is the case then you might have to pay only $1,000 yearly or $86 monthly for your Jeep Cherokee insurance. But the NADA also notifies that the average insurance premium may rise to about $250 each month or $3,000 per month if a driver has less than 3 years of driving experience on road. And there could be difference in premiums for the same levels of coverage between states as well. For example, drivers in Louisiana pay $183 per month for Jeep Cherokee insurance while those in Maine have to pay just $66 per month.
It is the loss rate factor that impacts jeep grand cherokee insurance cost and how much you may be required to pay for insurance of your Jeep Cherokee for varied types of coverage. A breakup of the same is mentioned below:
1. Medical payments coverage – 40%
2. Personal injury protection (PIP) coverage – 38%
3. Comprehensive coverage: 29%
4. Collision coverage – 19%
5. Property damages coverage – 11%
6. Bodily injury coverage: 6%
In addition, factors like driver’s age and number of at-fault accidents on driving record can severely affect insurance rates for the Jeep Cherokee. But it is possible to save money on premium by taking some vital aspects into consideration before you start researching your options.
For saving precious dollars on jeep grand Cherokee insurance premium, here are few things that you must consider:
1. Make sure that your driving slate is clean and free of any accidents or major traffic violations. A good way to ensure that is to take up a training course for learning defensive driving techniques when on road.
2. You need to renew your car insurance policy on time every year so that there is no lapse in your car coverage. Discontinuity in coverage can lead to your being tagged as a high risk driver and so, auto insurance rates may go up substantially in coming years.
3. The same also applies to premium payments when you have opted for a monthly payment plan. If you miss the deadline for paying premium instalment every month then you face the probability of a coverage lapse or late fees may start accumulating only to make matters worse.
4. You can obtain a low mileage discount on premium for Jeep grand Cherokee insurance if you indicate to your insurer that you are going to drive less miles during the year. To keep insurance cost low, it is advisable to take recourse to public transport system more often.
5. If you pay entire annual premium amount in lump sum at one go, you will avoid spending money on interests and other charges which are likely to accrue on monthly payment plans. In addition, your insurer might also provide a special premium discount.
6. To lower premium, it is suggested to raise your liability coverage limits and choose a higher deductible.
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