The cost of Jeep insurance is relatively affordable.
Even then, you can save a lot of money in the long term by looking for the most economical Jeep insurance rates. A small difference in insurance rates can translate into substantial savings over several years.
When you apply for Jeep insurance at different companies, they will consider several factors before quoting their rates. For example, they will definitely look into your driving history.
But when buying Jeep insurance, remember that cost is not the only factor. You also have to consider many other things like benefits, service quality, and customer ratings. So make sure that you do your research before signing up with any insurer.
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Jeep Insurance – Average Cost
The Jeep Wrangler has an average cost of around $1,600 per annum. This is more or less at par with what other vehicles of this category cost.
However, costs can vary significantly between different insurers. So you should ask for rates from a few companies so that you can select a fair price.
Also, depending on the age of the vehicle, the annual cost of insurance can vary considerably. Older vehicles are, in general, cheaper to insure.
Cheapest Jeep Wrangler Insurance
You must choose the right insurance company for your vehicle coverage. Your choice of insurance company will affect the rates and influence the discounts and promotions that may be available to you.
Jeep Wrangler can think about applying at Geico since it offers the lowest rates for Jeep Wranglers at about $930 per annum.
On the other hand, Allstate charges the highest premium on average for Jeep Wranglers at about $1,400 per year.
You should remember that your Jeep Wrangler insurance premium can vary considerably from these average values based on key factors like the presence of safety features in your vehicle, its age, and so on.
Overall, Jeep Wranglers are fairly cheap to insure. This is due to several factors like the relatively low market value of used Jeep Wranglers and the average torque for vehicles in its category. These factors can help reduce the number of financial losses incurred due to collisions and also mitigate the risk of thefts and catastrophic accidents.
According to available information at the National Highway Traffic Safety Administration, Jeep Wrangler insurance costs are at par with similar vehicles.
Top Insurers for Jeep Wrangler
Cost alone should not influence your choice of an insurance company. Although cost is a critical consideration, there are also other key factors that you should take into account, like financial stability, coverage, benefits, customer satisfaction, and service quality.
USAA is one of the best insurers for military members and veterans. But do note that their service is not open to those who are not linked with the military.
Other customers may want to think about getting GEICO insurance coverage for their Jeep Wranglers. Geico may be a good choice since it is financially robust and provides good value for money thanks to the benefits offered in return for a relatively low cost.
Jeep Wrangler Average Insurance Based on Model Year
In general, older models of Jeeps are less expensive to insure.
Older models have less value because they may have fewer features and are equipped with older technology. Also, due to their age, they undergo depreciation. Older vehicles are more prone to developing mechanical problems. Hence, they have less value.
Owing to these factors, comprehensive and collision insurance are less costly in general for older models.
For instance, the 2005 Jeep Wrangler might cost you around $1,000 on average to insure. At the same time, the 2009 Jeep Wrangler could cost you about $1,250 per year on average.
When selecting an insurance policy for a Jeep Wrangler, it is better to check out different companies, especially if your vehicle is a newer model. Newer models cost more to insure. Also, there can be significant variations in insurance rates between companies. Even a small amount of savings each year could lead to a substantial amount after several years have elapsed.
2020 Jeep Wrangler insurance coverage at Geico costs on average about $1,000. This rate is quite low compared to other insurers.
Jeep Cherokee and Jeep Grand Cherokee Average Insurance
The average annual insurance cost for the 2022 Jeep Cherokee is around $1,700.
Insurance costs for the Grand Jeep Cherokee are roughly the same.
However, Jeep Cherokee and Jeep Grand Cherokee insurance rates for 20-year-old drivers are much higher. The annual average insurance cost of the Jeep Cherokee and Jeep Grand Cherokee for 20-year-old drivers is around $3,350.
For drivers who are 30 years old, insurance rates for the same models are much lower at around $1,800.
There are 13 trim levels for the 2022 Jeep Cherokee. The most inexpensive trim is the Latitude 2WD which has an average annual insurance cost of around $1,600.
Jeep Grand Cherokee Summit Reserve 4xe is the costliest trim to insure, having an average annual insurance rate of around $1,800.
Jeep Gladiator Insurance Rate
The average annual insurance cost of the Jeep Gladiator stands at around $1,500.
However, for drivers aged 20, the average insurance cost for the Jeep Gladiator is much higher at around $3,100 per year.
The cost is substantially lower for drivers aged 30 at around $1,600 per year.
Jeep Insurance Explained
Insurance coverage for your Jeep can help you avoid financial losses* that may arise due to an accident or an event covered by your policy.
*Note: be warned that financial losses will be paid for up to the limit mentioned in your policy. So if the financial loss is less than this limit, then your insurer must compensate you fully for your loss. But if the financial loss is more than the prescribed limit, you are responsible for paying the difference between these two amounts out of pocket.
Hence, it is important to ensure that the coverage limit is enough so that your insurer will pay the full amount of your financial loss in case a covered event transpires. However, as you raise the coverage limit, you will also have to pay a greater premium and perhaps an even higher deductible.
There are six different kinds of insurance coverage. Under rules stipulated by the state you live in, certain insurance types may be mandatory. Driving without this compulsory insurance is illegal and can lead to fines, vehicle confiscation, driving license suspension, and other penalties.
Vehicle insurance provides financial protection if there is an accident (in which you are involved) that results in bodily harm and property damage.
Vehicle insurance plans consist of various kinds of coverage that provide financial protection against different sorts of risks.
Certain kinds of vehicle insurance coverage are mandatory under state law. The rest are optional.
Types of Insurance for Jeeps
However, you must bear in mind that state-mandated insurance coverage may be insufficient for your needs. You may need to buy a plan that offers a higher coverage limit compared to mandatory coverage.
Here are the six main kinds of vehicle insurance coverage.
- Uninsured/underinsured motorist
- Comprehensive
- Collision
- Medical payments or personal injury protection
- Property damage liability
- Bodily injury liability
Bodily Injury Liability
Bodily injury liability coverage is meant to provide medical costs for another individual if you have injured them in an accident. This sort of coverage is applicable to you and any other person mentioned in the policy as a driver. It is deemed that you are at fault.
Property Damage Liability Insurance
Property liability coverage can pay for financial losses arising from an accident for which you are deemed responsible.
Personal Injury Protection Insurance
In case you and/or another passenger in your automobile get injured due to an accident, then personal injury protection will pay for subsequent medical bills.
This coverage will also pay for lost wages if you get injured or another passenger is injured. It will also pay for funeral expenses if a person dies in your vehicle owing to the accident.
Collision Coverage
Damage liability insurance coverage provides payment for damage inflicted on another person’s property or vehicle due to an accident that you are deemed responsible for.
Collision coverage is a bit different. It provides payment for any damage inflicted on your property or vehicle. This includes damage done by colliding with another automobile or colliding your vehicle with something stationary, like a fence or tree.
Comprehensive Coverage
With comprehensive coverage, you will be reimbursed for damage, theft, or loss of your vehicle that arises due to some other cause besides a collision. This can be, for example, damage due to hail or some other sort of falling object, fire damage, and damage inflicted by an animal.
Underinsured/Uninsured Motorist Coverage
Underinsured motorist coverage will provide you with financial protection in case you get into an accident caused by another driver who has no insurance or insufficient insurance coverage to pay for your losses.
If you need to take out a loan for your vehicle, the lender may first instruct you to get certain kinds of insurance coverage.
Insurance Coverage By State
All states apart from New Hampshire deem property damage liability and bodily injury liability coverage to be mandatory.
But do note that in New Hampshire, drivers have to fulfill certain requirements for financial responsibility if they do not want to buy liability coverage.
In all other states, mandatory insurance also has certain minimum coverage limits that drivers must have in their vehicle insurance plan.
However, you should realize that mandatory coverage limits may not be enough for your needs. For your particular situation, you may need to buy extra coverage so that you are adequately protected against risks that you could be facing.
Types of Optional Vehicle Insurance Coverage
The availability of other types of optional coverage depends on your insurer. These may include the following.
- Rental car reimbursement insurance
- Towing and labor insurance
- Gap insurance
- New car replacement coverage
- Roadside assistance insurance
There are situations where you may need special kinds of insurance coverage. For instance, if you possess an antique or classic vehicle, it may be better to purchase a special insurance plan that factors in your vehicle’s market value, age, and frequency with which you are driving it.
You can apply for special coverage if your vehicle is in storage for substantial time periods or if your vehicle is used for ride-sharing.
Bottom Line
On average, Jeep insurance costs are at par with the national average. However, your Jeep insurance may vary due to several factors like your choice of an insurance company, model year, age, driving history, and so on.