How Much Will My 2020 Jeep Grand Cherokee Insurance Cost? jeepcarus.com If you’re considering purchasing a new Jeep Grand Cherokee in the near future, you should first determine how much your insurance will cost. While Jeep Grand Cherokees depreciate rapidly, insurers charge more for insurance because of this fact.
In this article, you’ll learn why insurers charge more for coverage and how you can save money on your policy. Continue reading for tips on how to save money on your Jeep Grand Cherokee insurance.
2020 Jeep Grand Cherokee Insurance Cost
Insurers charge more to insure a Jeep Grand Cherokee because of rapid depreciation
There are several factors that affect the cost of auto insurance. These factors include demographics, the model of the car, and its features. Because of its low price tag and comparatively high repair costs, Jeeps are cheaper to insure. Moreover, Jeep parts are widely available and so, repair costs are usually low. But the cost of insurance is more than double what the typical vehicle’s repair costs are.
The price of Jeep Grand Cherokee insurance varies with model year. A 2005 Grand Cherokee costs an average of $1,049 a year, while a 2020 Jeep Grand Cherokee costs $1,337 annually. Based on these factors, drivers can save $288 per year by choosing a later model year of the car. Moreover, Jeep Grand Cherokee insurance rates differ widely depending on age, model year, and insurance provider.
2020 Jeep Grand Cherokee Insurance Cost – Impact of age on Jeep Grand Cherokee insurance rates
As with any vehicle, the Jeep Grand Cherokee has its own set of insurance rates. However, the rates can vary greatly depending on the model and trim level. Age is an important factor because the higher the ACV of a vehicle, the more expensive the insurance. In comparison, the lower the ACV, the cheaper the insurance rates. The older the Jeep Grand Cherokee, the better the insurance rates. So, how old is too old?
For example, if you’re 40 and a married male, you’ll pay around $1,729 in auto insurance per year, which is higher than the national average for popular SUV models. However, keep in mind that a higher deductible is not a guarantee that you’ll pay less. A $500 deductible, for example, can reduce your premiums considerably. Also, consider that a Jeep Grand Cherokee is a big ticket item, so keep this in mind when choosing a policy.
Likewise, location plays a role in car insurance costs. Drivers in New York, for example, could pay nearly $862 more per year than those in Seattle. Another important factor is the driving history of the driver. Drivers in their early 20s tend to have a lot of violations on their record, which increases their policy prices significantly. Drivers with at-fault accidents or violations also have higher rates.
The age of the driver has a significant impact on Jeep Grand Cherokee insurance rates. Depending on where you live, you may receive lower premiums if you’re a younger driver or a female. Also, consider whether you have any other vehicles on your insurance policy. While a young driver will be more likely to be in an accident, a senior citizen may be able to save more money than someone with no driving history.
The teen driver’s Jeep Commander insurance rate is $4646 if he’s under 30 years old. Younger male drivers are more likely to get in at-fault accidents and receive speeding tickets. As you age, Jeep Commander insurance rates tend to stabilize between $3060 and $1202, depending on the state of the driver. The rates can go up for seniors. Therefore, it’s best to find a reliable, top-rated insurer for your Jeep Grand Cherokee.
The Jeep Grand Cherokee’s age and safety features play a large role in the insurance rates. It’s not uncommon for older Jeep Grand Cherokee models to have lower rates than newer versions. For example, Jeep Grand Cherokee models that were manufactured in 2016 and older have a four-star overall safety rating from the NHTSA. However, the safety features in these models are not enough to offset the high insurance rates.
2020 Jeep Grand Cherokee Insurance Cost – Ways to save on Jeep Grand Cherokee insurance
Buying a new car can be an expensive proposition, and getting the best possible insurance coverage for your new Grand Cherokee can help you save money. There are many ways to save money on your insurance, from driving fewer miles to insuring your vehicle as an infrequent driver. If you drive less than you should, you can get lower insurance rates for your Grand Cherokee. Here are some tips to get you started:
Know your car’s model year: Insurance rates are higher for newer Jeep Grand Cherokee models. For example, a 2005 Jeep Grand Cherokee will cost $1,049 per year to insure than a 2020 Jeep Grand Cherokee. In general, the lower model year means more savings for drivers. GEICO is the cheapest provider for 2020 Jeep Grand Cherokee insurance. However, there are some ways to save.
Age: Car insurance rates increase as the age of the driver increases. A 20-year-old will pay $1730 more than a 30-year-old driver. Violations on a driving record also increase policy prices. Drivers under the age of 20 pay between $1600 and $2300 per month for insurance, and those with high-risk driving histories may pay as much as 128 percent more.
Safety: Insurance agents take into account crash test scores in order to determine the premiums for a new Jeep Grand Cherokee. The Grand Cherokee earns three stars in the NHTSA’s front driver side crash safety rating. However, it has lower safety ratings than other cars, and insurance rates can increase as a result. To save money on 2020 Jeep Grand Cherokee insurance, it’s worth taking the time to shop around and compare quotes.
Buying a used Jeep will lower insurance costs. It may be tempting to purchase a brand new Jeep Grand Cherokee, but buying a used vehicle is a better option for the same level of coverage. Consider buying an off-lease-only model if you want to save money on car insurance. If you’re in the market for a used Grand Cherokee, look for an off-lease-only dealership to find a good-as-new vehicle at a lower price.
Make sure to choose collision coverage for your Grand Cherokee. This covers you if you hit a parked meter, hit a pothole, or crash into a building. Collision coverage is expensive, so you can reduce it by choosing a higher deductible. However, don’t reduce your physical damage coverage, or the coverage for bodily injury. You will only find out that you need this coverage when you need to make a claim.
Knowing your car insurance costs is essential when choosing a model. Choosing a model with low insurance coverage costs can save you a lot of money over time. Jeep insurance is generally cheaper than the average of other cars in the U.S., so comparing car insurance rates will save you money over time. Other ways to save money on your Jeep insurance include raising your deductible and asking for car insurance discounts.