Who Has Cheap Insurance for a Toyota RAV4 in New Jersey?

Finding cheap auto insurance for a Toyota RAV4 in New Jersey depends on a lot of rating criteria such as whether you own a home, your current insurance company, and blemishes on your driving record. Drivers in New Jersey pay on average $1,310 a year to buy Toyota RAV4 insurance, but that price is an approximation assuming a 50-year-old single female driver with comprehensive and collision coverage and $500 physical damage deductibles.

There is a good chance you are not 50 years old and maybe not even female, maybe you are married instead of single, and there is a good chance that there are other drivers on your policy. Having even a minor difference in the factors used in pricing a policy can generate big changes in the cost of coverage for a Toyota RAV4.

Car insurance coverage is unique to each driver, so this is why the most reliable method for finding the cheapest insurance price for your Toyota is to do the rate comparisons yourself.

Insure Your Toyota for Less

Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, homeowner, and multi-policy. Rate information does not factor in specific location which can affect coverage rates considerably.

Finding reliable, affordable insurance is difficult, and determining which company offers the best insurance rates for a Toyota RAV4 involves a little more work. Every insurance provider uses their own method for determining prices, so let’s begin by examining the most budget-friendly insurance companies in New Jersey.

Cheapest Insurance Rates for Your Toyota

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21st Century quotes some of the most affordable car insurance rates in New Jersey at around $1,067 each year. Travelers, New Jersey Manufacturers, Penn National, and Palisades are also some of the cheapest New Jersey car insurance companies.

As shown in the table above, if you currently have coverage with New Jersey Manufacturers and switched to 21st Century, you may realize annual savings of around $204. New Jersey drivers with Penn National might save as much as $312 a year, and Palisades customers might cut rates by $328 a year.

Be aware that those premium estimates are averaged across all drivers and vehicles in New Jersey and and are not figured with a specific rating modification for a Toyota RAV4. So the auto insurance company that is most affordable for your situation may not even be featured in the list of companies shown earlier. That illustrates why you need to get car insurance quotes using your own specific driver information and vehicle.

Violations and accidents raise rates

In a perfect world, the ideal way to score cheap insurance for a Toyota RAV4 in New Jersey is to be a safe driver and not receive tickets or have accidents. The diagram below highlights how speeding tickets and fender-benders can influence insurance costs for different age groups of insureds. The premiums assume a married male driver, full coverage, $1,000 deductibles, and no discounts are applied.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and Two Accidents’],[‘Age 20’, 3497,3805,6689],[‘Age 30’, 1801,2103,4991],[‘Age 40’, 1755,2061,4947],[‘Age 50’, 1615,1921,4807],[‘Age 60’, 1583,1889,4777],[‘Age 70’, 1865,2173,5057]]);var options = {title: ‘Impact of Violations and Accidents on New Jersey Toyota RAV4 Insurance’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Insurance Cost for a Toyota RAV4 in New Jersey’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the prior example, the average cost of a car insurance policy in New Jersey per year with a clean driving record and no accidents is $2,019. Get written up for one speeding ticket and the average cost swells to $2,325, an increase of $306 each year. Next add two accidents along with the one speeding ticket and the 12-month cost of insurance for a Toyota RAV4 increases to an average of $5,211. That’s an increase of $3,192, or $266 per month, just for not maintaining a clean driving record!

Cost of full coverage

Finding cheap insurance for a Toyota RAV4 in New Jersey is the goal of most people, and one way to buy cheaper insurance is to not buy comprehensive and collision coverage. The information below visualizes the comparison of insurance costs with and without physical damage coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, marital status is single, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 4047,1697],[‘Age 30’, 2125,927],[‘Age 40’, 2069,859],[‘Age 50’, 1893,803],[‘Age 60’, 1839,789],[‘Age 70’, 2291,1059]]);var options = {title: ‘Comparison of Rates for Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Toyota RAV4 in New Jersey’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

As an average, physical damage coverage on your policy costs an additional $2,377 per year more than just buying liability only. That is a significant amount which raises the question when is it safe to stop buying full coverage. There is no exact rule that works best for making the decision to drop physical damage coverage, but there is a general guideline. If the yearly cost of full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.

For example, let’s say your vehicle’s replacement value is $7,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company will settle for is $6,500 after paying your deductible. If premium cost is more than $650 annually for your policy with full coverage, then you may want to consider only buying liability coverage.

Find cheap insurance for a Toyota RAV4 in New Jersey

It is possible to find better rates, and here are some of the better thrifty solutions that can help drivers buy more affordable coverage.

• Drop full coverage on older vehicles
• Avoid at-fault accidents and claims
• Safe vehicles cost less to insure
• Drive safely
• Increase your comprehensive and collision deductibles
• Clean up your credit
• Comparison shop frequently

The last tip is incredibly vital, as was stressed in this article. Insurance rates can be adjusted at any time, so drivers shouldn’t hesitate to switch companies if a cheaper rate is available. Being loyal to a particular company is commendable, but it’s not a good idea if that devotedness results in you overpaying hundreds of dollars a year. It takes less than five minutes to compare prices to find cheaper insurance for a Toyota RAV4.

Which major car insurance company is best?

When it comes to car insurance, the companies that insure more vehicles than anyone else are Progressive, State Farm, Geico, and Allstate. If you combine them together, they insure nearly half of the entire U.S. car insurance market. All of them have a slightly different mix of options and features that may influence your buying decision. The table below rates price, claims, and customer service ratings, as well as some optional coverages that policyholders can buy.