Cheaper 2002 Jeep Grand Cherokee Insurance Rates

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Jun 27, 2022

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Having to pay for overpriced Jeep Grand Cherokee insurance can overdraw your bank account and put the squeeze on your family’s finances. Doing a price comparison is free, only takes a few minutes, and is a good way to slash your bill and have more diposable income. Having so many companies and agents to choose from, it’s nearly impossible to find the lowest cost provider.

Get lower rates on 2002 Jeep Grand Cherokee insurance

Insuring your fleet can be pricey, but there are discounts available that can drop the cost substantially. Larger premium reductions will be automatically applied when you purchase, but less common discounts must be requested specifically prior to getting the savings. If you aren’t receiving every discount you qualify for, you’re just leaving money on the table.

  • Braking Control Discount – Anti-lock brake equipped vehicles can avoid accidents and therefore earn up to a 10% discount.
  • One Accident Forgiven – Certain companies permit an accident without raising rates as long as you don’t have any claims for a particular time prior to the accident.
  • Drivers Education – Cut your cost by having your teen driver successfully complete driver’s ed class if offered at their school.
  • Homeowners Savings – Owning a home can help you save on insurance due to the fact that maintaining a home shows financial diligence.
  • College Student – Youth drivers who attend school more than 100 miles from home and do not have a car can be insured at a reduced rate.
  • Discount for New Cars – Putting insurance coverage on a new car can save up to 30% since new cars are generally safer.
  • Seat Belts Save more than Lives – Buckling up and requiring all passengers to buckle their seat belts could cut 10% or more on the medical payments or PIP coverage costs.
  • Lower Rates for Military – Being deployed with a military unit may qualify for rate reductions.
  • Federal Employees – Active or retired federal employment could cut as much as 10% off for Grand Cherokee coverage with certain companies.

Keep in mind that most credits do not apply to the overall cost of the policy. A few only apply to the cost of specific coverages such as comp or med pay. So even though they make it sound like it’s possible to get free car insurance, you’re out of luck. But any discount will bring down your overall premium however.

Compare Insurance Costs

There are multiple methods you can shop for 2002 Jeep Grand Cherokee insurance but there is one way that is less labor-intensive and much quicker. You can waste a few hours (or days) talking to local insurance agents in your area, or you can stay home and use online quotes to get prices fast.

Most major companies take part in a program that allows shoppers to submit their information once, and every company can provide price quotes for coverage. This saves time by eliminating quotation requests for each company.

To compare 2002 Jeep Grand Cherokee rates using this form now click to open in new window.

Whichever method you choose, compare identical coverages and limits for each price quote. If the quotes have higher or lower deductibles it’s not possible to determine the best price for your Jeep Grand Cherokee.

Parts of the Jeep Grand Cherokee rate equation

It’s important that you understand the factors that come into play when calculating the price you pay for insurance. Knowing what impacts premium levels helps enable you to make changes that may reward you with lower insurance prices.

The list below includes some of the items that factor into rates.

  • Younger drivers pay higher rates – Older insureds are more cautious drivers, tend to cause fewer accidents and get fewer tickets. Teenage drivers tend to be less responsible when behind the wheel therefore insurance rates are much higher.
  • Sex matters – The statistics show that men are more aggressive behind the wheel. That doesn’t necessarily mean that men are worse drivers. Men and women tend to get into accidents in similar numbers, but the male of the species cause more damage. Men also tend to get cited for more serious violations like reckless driving and DUI. Male drivers age 16 to 19 are the most expensive to insure and therefore have the most expensive insurance rates.
  • Your credit rating is important – Having a bad credit history is a important factor in determining what you pay for insurance. If your credit rating is not that good, you could be paying less to insure your 2002 Jeep Grand Cherokee by improving your rating. People with high credit scores tend to be more responsible than drivers who have lower credit scores.
  • Occupation reflects on rates – Careers like lawyers, business owners and financial analysts have higher average rates attributed to high stress and lots of time spent at work. Conversely, professions such as scientists, engineers and the unemployed get better rates for Grand Cherokee coverage.
  • Marriage brings a discount – Being married can get you a discount on insurance. It is viewed as being more mature than a single person and statistics show being married results in fewer claims.
  • Extra coverages can waste money – There are a lot of extra bells and whistles that you can get tricked into buying if you aren’t careful. Things like rental car reimbursement, accidental death and term life insurance are some examples. These coverages may sound good initially, but if they’re wasting money remove them from your policy.
  • High deductibles save money – Physical damage deductibles define the amount you are willing to pay in the event of a claim. Physical damage insurance, also known as collision and other-than-collision, is used to repair damage to your car. Some examples of claims that would be covered would be running into the backend of another car, collision with an animal, or theft. The more the insured has to pay upfront, the lower your rates will be for Grand Cherokee coverage.
  • Small claims can cost you – Car insurance companies provide lower rates to drivers who do not rely on their insurance for small claims. If you file claims often, you can pretty much guarantee either policy cancellation or increased premiums. Insurance coverage is designed for major claims that would cause financial hardship.

Tailor your coverage to you

When it comes to choosing proper insurance coverage for your vehicles, there really is no “perfect” insurance plan. Every insured’s situation is different and a cookie cutter policy won’t apply. These are some specific questions can aid in determining whether your personal situation would benefit from an agent’s advice.

  • Exactly who is provided coverage by my policy?
  • Is my babysitter covered when using my vehicle?
  • Does my policy pay for OEM or aftermarket parts?
  • How can I find cheaper teen driver insurance?
  • When does my teenage driver need to be added to my policy?
  • Will my rates increase for filing one claim?

If you’re not sure about those questions then you might want to talk to an insurance agent. If you want to speak to an agent in your area, simply complete this short form.

Insurance policy coverages for a Jeep Grand Cherokee

Having a good grasp of your insurance policy helps when choosing appropriate coverage for your vehicles. The terms used in a policy can be confusing and nobody wants to actually read their policy. Below you’ll find typical coverage types found on most insurance policies.

Comprehensive coverage

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for things such as fire damage, hitting a deer and hitting a bird. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Uninsured/Underinsured Motorist coverage

Your UM/UIM coverage gives you protection when other motorists are uninsured or don’t have enough coverage. This coverage pays for medical payments for you and your occupants and damage to your Jeep Grand Cherokee.

Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage is very important. Most of the time these coverages are similar to your liability insurance amounts.

Collision insurance

Collision coverage covers damage to your Grand Cherokee resulting from a collision with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision insurance covers claims like crashing into a ditch, driving through your garage door and scraping a guard rail. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. You can also raise the deductible to bring the cost down.

Medical payments coverage and PIP

Coverage for medical payments and/or PIP provide coverage for immediate expenses for things like X-ray expenses, hospital visits and pain medications. They are often used to fill the gap from your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants as well as getting struck while a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay

Coverage for liability

Liability insurance protects you from damage that occurs to a person or their property in an accident. It protects you against claims from other people. Liability doesn’t cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see limits of 50/100/50 that means you have a limit of $50,000 per injured person, $100,000 for the entire accident, and property damage coverage for $50,000. Alternatively, you may have one limit called combined single limit (CSL) which provides one coverage limit with no separate limits for injury or property damage.

Liability insurance covers things like repair bills for other people’s vehicles, attorney fees, pain and suffering, legal defense fees and funeral expenses. The amount of liability coverage you purchase is your choice, but consider buying as large an amount as possible.

Shop. Compare. Save.

As you restructure your insurance plan, it’s not a good idea to buy poor coverage just to save money. There are a lot of situations where someone dropped comprehensive coverage or liability limits and found out when filing a claim that it was a big error on their part. The aim is to buy enough coverage at an affordable rate while still protecting your assets.

Affordable 2002 Jeep Grand Cherokee insurance is attainable online and also from your neighborhood agents, and you need to price shop both to have the best rate selection. Some auto insurance companies may not provide online quoting and many times these smaller companies only sell through independent insurance agents.

Additional detailed information can be read by following these links:

  • A Tree Fell on Your Car: Now What? (Allstate)
  • Vehicle Insurance in the U.S. (Wikipedia)
  • Safety Belts FAQ (iihs.org)
  • Parking Tips to Reduce Door Dings (State Farm)
  • Protect Yourself Against Auto Theft (Insurance Information Insitute)

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