How Much are Insurance Quotes for a Toyota Camry in New Jersey?

When writing about shopping for car insurance, the words cheap or affordable should not be used anywhere in the article. Please forgive the oxymoron, but cheap car insurance for a Toyota Camry is not easy to find. But don’t let that discourage you, because we can show you some ways you can still find insurance that may not be cheap, but it is affordable.

The chances of finding cheap auto insurance for a Toyota Camry in New Jersey is contingent on a lot of things such as how far you drive to work, the likelihood of your vehicle being stolen, and any prior driving offenses you have. Drivers pay an average rate of $1,460 every 12 months for Camry insurance, but that price is a ballpark figure based on rates for a 50-year-old single male driver who purchased both comprehensive and collision coverage and $250 physical damage deductibles.

This brings up the issue that more than likely you are not exactly 50 years old and possibly not even male, you might be married instead of single, or maybe your Camry doesn’t need comprehensive and collision coverage. Having even a minor difference in rating variables can cause large differences in the rate quoted for a Toyota Camry.

Having different needs demonstrates why your best chance at finding the cheapest insurance price for your Toyota is to shop around at every renewal for lower rates.

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The specific trim level has an effect on the cost of coverage, so the cost to insure a Camry LE will be $252 less expensive the price to insure the more costly Camry Hybrid trim level, as demonstrated by the prices below.

Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Rate quotes do not factor in specific location which can lower or raise price quotes noticeably.

Determining which companies offer the best auto insurance rates for a Toyota Camry takes a bit more work in order to find the most economical policy. Each insurance company has their own process for setting prices, so let’s examine the auto insurance companies with the most affordable rates in New Jersey.

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21st Century has some of the most affordable car insurance rates in New Jersey at around $1,078 each year. Travelers, New Jersey Manufacturers, Penn National, and Palisades also rank well as some of the more affordable New Jersey car insurance companies.

In the rate table above, if you currently have a policy with Penn National and switched to Travelers, you might achieve an annual premium reduction of upwards of $193. Policyholders with Palisades might save as much as $209 a year, and Allstate customers might lower prices by $333 a year.

To discover how much you can save, click here to start a quote or visit any of the low-priced companies below.

Bear in mind that those rates are averaged across all types of drivers and the different vehicles they drive and do not take into consideration a specific rating modification for a Toyota Camry. So the auto insurance company that is most affordable for your situation may not even be featured in the above list. That is why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.

Types of discounts on New Jersey auto insurance rates

Insurers that offer cheap insurance for a Toyota Camry in New Jersey may also provide rate discounts that could reduce prices by as much as 40% or more if you meet certain criteria. Larger auto insurance companies and their offered discounts include:

• Esurance may include discounts for Switch & Save, multi-car, good driver, defensive driver, anti-lock brakes, paid-in-full, and online shopper.
• The Hartford offers discounts for good student, air bag, driver training, vehicle fuel type, defensive driver, and bundle.
• AAA may offer discounts for AAA membership discount, education and occupation, multi-car, good driver, and good student.
• GEICO offers premium reductions for air bags, seat belt use, anti-lock brakes, driver training, multi-policy, and five-year accident-free.
• State Farm has discounts for defensive driving training, good student, safe vehicle, anti-theft, good driver, and driver’s education.

The example below shows the comparison of insurance costs with and without discounts applied to the policy rates. The premium estimates are based on a male driver, no claims or driving citations, New Jersey state minimum liability limits, comp and collision included, and $1,000 deductibles.

The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with homeowner, accident-free, vehicle safety, multiple vehicle, defensive driving course, and passive restraint discounts applied. When these discounts are applied, the the average amount saved on auto insurance for a Toyota Camry is 28% or $667.

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The diagram below illustrates how your choice of deductibles can raise or lower insurance rates when getting quotes for cheap insurance for a Toyota Camry. The costs are based on a single male driver, full physical damage coverage, and no other discounts are factored in.

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As shown above, a 30-year-old driver could pocket $602 a year by changing from a $100 deductible to a $500 deductible, or save $902 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old category, could roll back prices $1,782 or more by choosing larger deductibles on their policy.

When choosing a higher deductible, it will be important to have additional funds in a savings account to allow you to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.

Cheapest car insurance: Progressive, State Farm, Allstate, or Geico

If you’re looking for the cheapest insurance for a Camry in New Jersey, four of the best places to start are Progressive, State Farm, Allstate, and Geico. If you put them all together, they insure over 48% of the entire U.S. market share. They all have your normal coverages like liability, comprehensive, and collision, but each one offers somewhat different options that can influence your buying decision. The data below shows pricing and service ratings, as well as optional policy coverages shoppers can find with each company.

Who has the cheapest Toyota Camry insurance quotes?

You have a lot of ways to find affordable auto insurance in New Jersey, but the three most common methods are from an independent or non-exclusive agent, an exclusive insurance agent such as Auto-Owners or State Farm, or from a direct company like Progressive or Geico.

Each way has the same basic steps, but auto insurance shoppers should know the differences in how they provide rate quotes.

Independent agents have contracts with multiple insurance companies and can get rate quotes from every one. They have the option to give you a larger rate selection, which can give you a better chance of saving money. If premiums increase, an independent agent can move your coverage which makes it simple for you.

Exclusive agents are only able to place business with just one company such as State Farm and Allstate agents. Exclusive agents normally do not have the ability to give you multiple price quotes, so if finding the cheapest auto insurance is your goal, you will want to shop around.

Auto insurance from a direct company means you forego a local agent and instead shop direct online or over the phone from a company like Progressive or Esurance. Shopping direct is a good choice for consumers who do not need advice for asset protection and have knowledge of the exclusions of a policy.

So comparing independent agents, exclusive agents, and direct, which one works best for finding cheap insurance for a Toyota Camry in New Jersey? It would be obvious to point out buying direct saves the most money because there is no agent taking a commission, but that generally is not the case. It would also be easy to say an independent agency is the best way due to more options, but again, it’s not a sure thing. In many cases, exclusive agencies have very competitive rates that cannot be met by either independent or direct companies.

Since auto insurance prices vary so much, the guaranteed way to not overpay for auto insurance is to compare, compare, and compare some more. Industry experts recommend getting quotes from all three to give yourself the best selection. We compiled a list of companies with some of the cheapest online rates that you can click here to view.