Cheapest Insurance for a Toyota Corolla in Jersey City

Did you fall for a flashy sales pitch and buy an expensive insurance policy? It’s quite common and you’re not the only one.

A recent NerdWallet.com study revealed that 70% of consumers renewed their policy with the same company for over three years, and about 40% of consumers have never quoted insurance rates at all. U.S. drivers can save $860 each year, but they don’t want to take the time to find lower-cost insurance rates.

How to quote cheaper Toyota Corolla insurance in Jersey City

The most effective way to get more affordable car insurance rates in Jersey City is to regularly compare prices from insurers who sell auto insurance in New Jersey. Rate comparisons can be done by following these guidelines.

First, spend some time learning about what coverages are included in your policy and the things you can change to prevent expensive coverage. Many rating criteria that drive up the price like traffic violations and a bad credit rating can be remedied by making lifestyle changes or driving safer.

Second, compare rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can provide rates from one company like Progressive and State Farm, while independent agents can quote rates for a wide range of insurance providers. Find a Jersey City insurance agent

Third, compare the price quotes to the premium of your current policy to determine if switching companies saves money. If you can save some money and make a switch, make sure there is no coverage gap between policies.

An important bit of advice to remember is to try to compare the same coverage limits and deductibles on each quote request and and to analyze every company you can. This provides a fair rate comparison and maximum price selection.

Insurance companies such as Allstate and Progressive continually bombard you with catchy ads and it is difficult to separate fact from fiction and effectively compare rates to find the best deal.

Getting a cheap price on Toyota Corolla insurance is actually easier than you may think. The only thing you need to do is take a few minutes comparing rate quotes to see which company has the cheapest Toyota Corolla rate quotes.

It’s so fast and easy to compare quotes online that it makes it a waste of time to drive around to insurance agencies in your area. Comparing online rate quotes has reduced the need for local agents unless you want the professional guidance that only a licensed agent can provide. Drivers can compare the best prices online but buy from a local insurance agent.

The providers in the list below offer quotes in Jersey City, NJ. If you want cheap car insurance in Jersey City, it’s highly recommended you click on several of them to get the best price comparison.

Toyota Corolla insurance rates and statistics

The table displayed below highlights estimates of policy rates for Toyota Corolla models. Learning how car insurance prices are figured can be useful when making informed decisions when comparing rates.

Data based on married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Table data does not factor in Jersey City location which can alter insurance rates greatly.

The example below demonstrates how deductibles and can increase or decrease Toyota Corolla insurance premiums for different age groups. The rates are based on a married female driver, full coverage, and no other discounts are factored in.

How accidents and violations affect rates

The chart below shows how traffic citations and fender-benders raise Toyota Corolla auto insurance rates for each different age group. The information is based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.

Comparison of full coverage and liability-only policies

The information below compares Toyota Corolla auto insurance rates with liability coverage only compared to full coverage. The premiums assume no claims or violations, $1,000 deductibles, single status, and no policy discounts are applied.

Should you pay for full coverage or liability only?

There is no definitive guideline to stop paying for full coverage, but there is a general convention. If the yearly cost of full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.

For example, let’s pretend your Toyota Corolla settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $3,000 after the policy deductible has been paid. If you are paying more than $300 a year for full coverage, then you may want to consider only buying liability coverage.

There are a few cases where buying only liability insurance is not advised. If you haven’t paid off your loan, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.

Verify you’re getting every discount

Car insurance companies don’t always publicize their entire list of discounts in a way that’s easy to find, so below is a list a few of the more common as well as the least known discounts that you can inquire about if you buy Jersey City car insurance online.

• Claim-Free Discount – Drivers who don’t have accidents have much lower rates in comparison with drivers with a long claim history.
• Low Mileage Discounts – Keeping the miles down on your Toyota may allow you to get discounted rates on garaged vehicles.
• Mature Driver Discount – If you qualify as a senior citizen, you could receive reduced rates.
• Good Students Pay Less – Maintaining excellent grades could provide a savings of up to 20% or more. Most companies allow this discount up until you turn 25.
• Government Employee Discount – Federal government employees may qualify for a discount when you quote Jersey City car insurance with select insurance companies.
• Discount for Swiching Early – Some insurance companies reward drivers for buying a policy early. This discount can save up to 10%.
• Theft Deterrent – Cars that have factory anti-theft systems are less likely to be stolen and will qualify for a discount on a Jersey City car insurance quote.
• Defensive Driver – Successfully completing a driver safety class is a good idea and can lower rates if you qualify.

Policy discounts save money, but most discounts do not apply to the whole policy. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. Just because you may think all those discounts means the company will pay you, it doesn’t quite work that way.

The example below illustrates the difference between Toyota Corolla annual premium costs with and without discounts applied to the policy rates. Data assumes a female driver, no accidents, no driving violations, New Jersey state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, safe-driver, multi-car, homeowner, and claim-free discounts applied.

Larger car insurance companies and the discounts they provide are:

• Farmers Insurance discounts include electronic funds transfer, mature driver, early shopping, youthful driver, distant student, and teen driver.
• State Farm offers premium reductions for good driver, accident-free, multiple autos, passive restraint, Drive Safe & Save, multiple policy, and Steer Clear safe driver discount.
• Liberty Mutual may have discounts that include newly married, new vehicle discount, multi-car, exclusive group savings, safety features, new move discount, and newly retired.
• MetLife has savings for good driver, defensive driver, multi-policy, accident-free, claim-free, and good student.
• Progressive includes discounts for multi-policy, continuous coverage, multi-vehicle, online quote discount, and good student.

If you need lower rates, check with every insurance company to give you their best rates. Some discounts might not be offered in Jersey City. If you would like to see a list of insurers that offer discounts in Jersey City, click this link.

Insurance is an important decision

Despite the high insurance cost for a Toyota Corolla in Jersey City, maintaining insurance is mandatory in New Jersey but it also protects more than you think.

• The majority of states have compulsory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability in order to license the vehicle. In New Jersey these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
• If you bought your Toyota with a loan, more than likely the lender will require you to have physical damage coverage to guarantee their interest in the vehicle. If you default on your policy, the bank may buy a policy for your Toyota at a significantly higher premium and make you pay the higher premium.
• Insurance preserves both your vehicle and your assets. It also can pay for medical bills incurred in an accident. Liability coverage will also pay for a defense attorney if you are sued as the result of your driving. If your Toyota gets damaged, your policy will pay to have it repaired.

The benefits of buying enough insurance more than cancel out the cost, particularly for liability claims. But the average American driver is overpaying more than $820 a year so compare rate quotes every year to ensure rates are inline.

Can’t I compare prices from local Jersey City auto insurance agents?

A small number of people still prefer to visit with an insurance agent and often times that is recommended Insurance agents can help you build your policy and will help you if you have claims. The best thing about comparing rates online is that drivers can save money and get the best rates and still have an agent to talk to.

To help locate an agent, after submitting this form (opens in new window), your insurance coverage information is instantly submitted to agents in your area who will return price quotes for your insurance coverage. You won’t need to search for an agent since price quotes are sent directly to your email. If you want to compare prices from a specific company, you just need to jump over to their website and submit a quote form there.

Picking the best insurance company should depend on more than just the bottom line cost. Here are some questions you should ask.

• How long has their agency been open in Jersey City?
• What is the financial rating for the quoted company?
• How often do they review coverages?
• What insurance companies do they work with in Jersey City?
• Which insurance company do they prefer to write with?
• Are there any extra charges for paying monthly?
• Do they have designations such as AIC, CPCU, or CIC?

If you need to find a reliable agent, there are a couple of different types of agencies and how they can write your policy. Insurance agents are categorized either independent agents or exclusive agents depending on their employer. Both can do a good job, but it’s good to learn the differences because it can factor into which type of agent you select.

Exclusive Insurance Agents

These type of agents can only quote rates from one company like Allstate, Farmers Insurance or State Farm. They are unable to give you multiple price quotes so you might not find the best rates. They are well trained on sales techniques which helps overcome the inability to quote other rates.

The following are exclusive insurance agents in Jersey City that are able to give price quotes.

View more Jersey City agents

Independent Insurance Agencies

Agents in the independent channel do not have single company limitations and that is an advantage because they can write policies with multiple insurance companies enabling the ability to shop coverage around. If they quote lower rates, your agent can switch companies without you having to go to a different agency. When comparison shopping, it’s a good idea to get several quotes from several independent insurance agents to ensure the widest selection of prices.

The following are Jersey City independent insurance agencies willing to provide comparison quotes.

View more Jersey City agents

After receiving good feedback to your questions and a good coverage price, you may have found an insurance agent that meets the requirements to adequately provide insurance. But keep in mind once you purchase a policy you can terminate your policy at any time so never assume you are locked into a specific agent with no way out.