It’s safe to assume that car insurance companies don’t want you comparing rates. Consumers who shop for lower rates are very likely to buy a different policy because of the high probability of finding a policy with better rates. A recent survey found that drivers who compared prices once a year saved as much as $865 a year compared to people who didn’t regularly shop around.
If finding the lowest price for insurance is your ultimate goal, then having some insight into the best ways to find and compare cheaper coverage can make the process more efficient.
The preferred way to find lower priced Toyota Highlander insurance is to regularly compare prices from companies in Newark.
- Read about the coverage provided by your policy and the measures you can control to prevent rate increases. Many risk factors that cause high rates such as speeding tickets, accidents and a negative credit score can be controlled by making small lifestyle or driving habit changes.
- Request price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from one company like Progressive or Farmers Insurance, while independent agencies can provide price quotes for a wide range of companies.
- Compare the price quotes to the price on your current policy to see if you can save by switching companies. If you can save some money and make a switch, ensure coverage does not lapse between policies.
- Provide written notification to your current company of your decision to cancel your current auto insurance policy. Submit the application along with any required down payment to the newly selected company. Immediately upon receiving it, safely store the proof of insurance paperwork in an easily accessible location in your vehicle.
One tip to remember is to use identical coverages on each price quote and and to look at as many car insurance companies as possible. Doing this ensures a level playing field and many rates to choose from.
Finding and buying the best-priced insurance policy in Newark is not as hard as you think. Basically, every driver who is required by state law to have insurance will more than likely get better rates. But New Jersey drivers must understand the way companies determine prices because it varies considerably.
Components of Your Toyota Highlander Insurance Premiums
Many different elements are part of the calculation when quoting car insurance. Some are pretty understandable such as traffic violations, but some are more transparent like where you live or how safe your car is. Part of the car insurance buying process is learning some of the factors that help determine your car insurance rates. When you know what positively or negatively impacts premium levels, this empowers consumers to make smart changes that may result in lower rates.
The factors shown below are just a few of the factors used by insurance companies to determine your prices.
Do you save by driving less? – The more you drive your Toyota every year the more you’ll pay to insure it. Most insurance companies calculate prices determined by how the vehicle is used. Cars and trucks left parked in the garage receive better premium rates than vehicles that have high annual mileage. Improper usage on your Highlander may be costing you. It’s a good idea to make sure your declarations sheet shows the right rating data.
Better credit means lower rates – Your credit history factor in determining what you pay. Drivers with good credit tend to be less risk to insure as compared to drivers with lower credit ratings. Therefore, if your credit rating can use some improvement, you could be paying less to insure your Toyota Highlander by improving your rating.
High performance equals high prices – The type of car or truck you are insuring makes a big difference in how high your rates are. The best insurance prices tend to be for small economy passenger cars, but the final cost of insurance is determined by many other factors.
The data below is based on a single male driver age 30, full coverage with $250 deductibles, and no discounts or violations. The data compares Toyota Highlander insurance premiums compared to other models that have a range of performance rating factors.
Rates can drop if you have more than one policy – Lots of insurers allow a discount to customers that purchase more than one policy, otherwise known as a multi-policy discount. Discounts can add up to ten or even up to twenty percent in some cases. Even though this discount sounds good, it’s in your best interest to shop around to verify if the discount is saving money.There is a chance you can save money even if you insure with multiple companies
Is auto insurance cheaper for women or men? – Statistics have proven females are less aggressive when driving. However, this does not mean women are better drivers. Both sexes get in fender benders in similar percentages, but the male of the species cause more damage and cost insurance companies more money. Men also statistically get more serious tickets such as reckless driving. Young men ages 16 to 20 generally have the highest accident percentage and are penalized with high car insurance rates.
The information below visualizes the comparison of Toyota Highlander auto insurance rates for male and female drivers. The price estimates are based on no violations or claims, comprehensive and collision coverage, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.
Mature drivers are lower risk – Young drivers in New Jersey are statistically proven to get distracted easily in a vehicle therefore car insurance rates are much higher. Older people are shown to be more cautious, file fewer claims, and receive fewer citations.
The following chart assumes a single driver, full coverage with $1000 deductibles, and no discounts or violations.
Safety ratings are a factor – Cars with high safety ratings get lower rates. Safer cars reduce occupant injuries and reduced instances of injuries means less money paid by your insurance company and lower rates for you. If your Toyota Highlander is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you are probably receiving a discount.
Toyota Highlander insurance claim data – Insurance companies factor in insurance loss information to help determine prices. Models that historically have higher frequency or amount of claims will have increased rates. The table below illustrates the loss history for Toyota Highlander vehicles.
For each coverage type, the statistical loss for all vehicles compiled together equals 100. Numbers below 100 indicate a favorable loss history, while numbers that are greater than 100 point to more losses or larger claims.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Toyota Highlander 4dr 2WD | 88 | 82 | 94 | 94 | 78 | 75 |
| Toyota Highlander 4dr 4WD | 95 | 86 | 117 | 88 | 74 | 78 |
| Toyota Highlander Hybrid 4dr 4WD | 111 | 143 |
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Keep in mind that comparing more rates from different companies helps you find a better price.
The providers in the list below offer price quotes in New Jersey. If you want to find cheap car insurance in NJ, we suggest you click on several of them to find the cheapest car insurance rates.
Coverage information
The coverage table below outlines detailed analysis of insurance prices for Toyota Highlander models. Being able to understand how insurance quotes are formulated is important for you to make smart choices when comparing insurance rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Highlander 2WD | $376 | $564 | $496 | $30 | $148 | $1,614 | $135 |
| Highlander 4WD | $424 | $688 | $496 | $30 | $148 | $1,786 | $149 |
| Highlander Sport 4WD | $424 | $688 | $496 | $30 | $148 | $1,786 | $149 |
| Highlander SE 2WD | $424 | $688 | $496 | $30 | $148 | $1,786 | $149 |
| Highlander Sport 2WD | $424 | $688 | $496 | $30 | $148 | $1,786 | $149 |
| Highlander Limited 2WD | $474 | $810 | $496 | $30 | $148 | $1,958 | $163 |
| Highlander SE 4WD | $474 | $810 | $496 | $30 | $148 | $1,958 | $163 |
| Highlander Limited 4WD | $474 | $810 | $496 | $30 | $148 | $1,958 | $163 |
| Highlander Hybrid 4WD | $474 | $810 | $496 | $30 | $148 | $1,958 | $163 |
| Highlander Hybrid Limited 4WD | $474 | $810 | $496 | $30 | $148 | $1,958 | $163 |
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Table data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Prices do not factor in zip code location which can influence prices considerably.
Irresponsible driving raises your rates
The example below shows how traffic citations and at-fault accidents increase Toyota Highlander car insurance costs for different insured age categories. The rates are based on a single female driver, full physical damage coverage, $250 deductibles, and no additional discounts are factored in.
Full coverage or liability only
The illustration below shows the difference between Toyota Highlander premium costs when comparing full coverage to state minimum liability only. The rates are based on no driving violations, no at-fault accidents, $1,000 deductibles, drivers are single, and no discounts are factored in.
When to stop buying comprehensive and collision coverage
There is no clear-cut rule to stop paying for comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost of comp and collision coverage is more than 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.
For example, let’s pretend your Toyota Highlander claim settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after you pay the deductible. If it’s costing you more than $400 annually for physical damage coverage, then you may need to consider dropping full coverage.
There are some circumstances where dropping full coverage is not advised. If you haven’t paid off your loan, you have to keep full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not consider dropping full coverage.
Auto insurance protects more than just your car
Even though it’s not necessarily cheap to insure a Toyota in Newark, insurance is most likely required but also gives you several important benefits.
- Just about all states have compulsory liability insurance requirements which means state laws require a specific level of liability in order to drive the car legally. 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 took out a loan on your Toyota Highlander, it’s most likely the lender will require you to have physical damage coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender will be forced to insure your Toyota at a more expensive rate and require you to pay the higher price.
- Auto insurance protects both your assets and your Toyota. It will also cover hospital and medical expenses incurred in an accident. As part of your policy, liability insurance also pays for attorney fees and expenses if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, your auto insurance policy will cover the repair costs.
The benefits of carrying adequate insurance are without a doubt worth the cost, particularly for liability claims. Today the average American driver is currently overpaying as much as $825 a year so compare quotes from several companies at every renewal to ensure rates are competitive.
These discounts can reduce Toyota Highlander insurance rates
Some insurance providers do not list all possible discounts in an easy-to-find place, so the list below details both the well known as well as some of the hidden discounts that you can inquire about if you buy Newark auto insurance online.
- Driver’s Education for Students – Make teen driver coverage more affordable by requiring them to participate in a local driver’s education class if offered at their school.
- Accident Waiver – This one is not really a discount per se, but a handful of insurance companies allow you one accident before your rates go up if your claims history is clear for a specific time period.
- Accident-Free Discounts – Drivers with accident-free driving histories pay much less compared to drivers with a long claim history.
- Defensive Driver Discounts – Taking a course teaching safe driver skills could save 5% or more and also improve your driving technique.
- Telematics Devices – Drivers who elect to allow driving data submission to study driving manner by using a telematics device in their vehicle such as Progressive’s Snapshot and State Farm’s In-Drive could save a few bucks if they are good drivers.
- Theft Prevention Discount – Vehicles that have factory alarm systems and tracking devices are stolen with less frequency and earn discounts up to 10% off your Newark auto insurance quote.
- Low Mileage Discounts – Fewer annual miles on your Toyota could qualify for slightly better auto insurance rates than normal.
As a disclaimer on discounts, most of the big mark downs will not be given to your bottom line cost. Most only reduce the price of certain insurance coverages like liability, collision or medical payments. So even though it sounds like all those discounts means the company will pay you, it just doesn’t work that way.
The example below shows the comparison of Toyota Highlander auto insurance costs with and without policy discounts. The data assumes a female driver, no violations or accidents, New Jersey state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, safe-driver, marriage, multi-policy, and multi-car discounts applied.
Large auto insurance companies and their offered discounts are included below.
- Farmers Insurance policyholders can earn discounts including bundle discounts, mature driver, good student, early shopping, and alternative fuel.
- Esurance may offer discounts for online quote, anti-lock brakes, homeowner, good student, online shopper, renters, and good driver.
- State Farm offers discounts for defensive driving training, passive restraint, safe vehicle, accident-free, driver’s education, and good driver.
- GEICO offers premium reductions for multi-policy, anti-lock brakes, air bags, membership and employees, five-year accident-free, and good student.
- Allstate has discounts for early signing, eSmart discount, EZ pay plan discount, good student, safe driver, and utility vehicle.
Double check with every prospective company to give you their best rates. Savings may not apply in Newark. To see companies that offer some of these discounts in New Jersey, follow this link.
Compare rate quotes but buy from a neighborhood Newark auto insurance agent
A small number of people still like to get professional advice from a licensed agent and that is not a bad decision A nice benefit of comparing rates online is you may find the lowest rates and still choose a local agent. And supporting local agents is important particularly in Newark.
Once you complete this form (opens in new window), your insurance data is sent to participating agents in Newark who will return price quotes and help you find cheaper coverage. You don’t have to contact any insurance agencies since price quotes are sent instantly to you. You’ll get the best rates without having to waste a lot of time. In the event you want to compare rates from a specific auto insurance provider, just visit that company’s website and submit a quote form there.
If you want to use a reliable insurance agency, it’s helpful to know the types of agencies that you can choose from. Agents in Newark can be categorized as either independent or exclusive depending on the company they work for.
Independent Auto Insurance Agencies
Agents in the independent channel are normally appointed by many insurers and that allows them to write policies with a variety of different insurance companies and find you the best rates. To transfer your coverage to a different company, an independent agent can move your coverage and you won’t have to switch agencies.
If you are comparing rate quotes, we highly recommend that you contact at a minimum one independent agency to have the best price comparison.
Featured below are independent insurance agencies in Newark who can help you get free auto insurance rate quotes.
Atlantis Agency
177 Adams St – Newark, NJ 07105 – (973) 466-9090 – View Map
Acosta Agency
568 Broadway # B – Newark, NJ 07104 – (973) 482-5898 – View Map
Collection Agency BandA
744 Broad St #1903 – Newark, NJ 07102 – (862) 218-0319 – View Map
Exclusive Insurance Agencies
Agents of this type can usually just insure with one company like Allstate, Farmers Insurance or State Farm. They are unable to compare rates from other companies so keep that in mind. These agents are well trained on their products and sales techniques and that allows them to sell at a higher price point.
The following are Newark exclusive agencies that are able to give price quotes.
State Farm Insurance
360 Chestnut St – Newark, NJ 07105 – (800) 701-5909 – View Map
Farmers Insurance – Anthony Pugliese
41 Wilson Ave – Newark, NJ 07105 – (973) 732-2105 – View Map
State Farm: Greg Daniels
681 1/2 Mt Prospect Ave – Newark, NJ 07104 – (973) 484-5772 – View Map
Finding a good insurance agent needs to be determined by more than just the premium amount. These are some questions your agent should answer.
- What is the agency’s Better Business Bureau rating?
- Can they provide you with a list of referrals?
- Do you qualify for any additional discounts?
- How often do they review policy coverages?
- Will you get a loaner vehicle if you car is being repaired?
- Will high miles depreciate repair valuations?
- Will a damage claim use OEM or aftermarket replacement parts?
- Are they actively involved in the community?
Auto insurance is unique, just like you
When selecting a policy for your vehicles, there isn’t really a perfect coverage plan. Coverage needs to be tailored to your specific needs and your policy should reflect that.
Here are some questions about coverages that may help highlight if you may require specific advice.
- Does my personal policy cover me when driving out-of-state?
- What are the liability requirements in my state?
- Do I need motorclub coverage?
- Am I missing any policy discounts?
- Can I get by with minimal medical coverage if I have good health insurance?
- Is a blown tire covered by insurance?
- Am I covered if I crash into my own garage door?
If it’s difficult to answer those questions but a few of them apply, you might consider talking to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies.
Shop around and save
We just showed you a lot of information how to find affordable Toyota Highlander insurance in Newark. The key concept to understand is the more rate quotes you have, the better chance you’ll have of finding the cheapest Toyota Highlander rate quotes. You may even discover the lowest car insurance rates are with some of the lesser-known companies. Smaller companies may only write in your state and offer lower premium rates compared to the large companies like Progressive and GEICO.
Lower-priced insurance in Newark can be purchased both online and with local Newark insurance agents, so you need to quote Newark auto insurance with both to get a complete price analysis. Some companies may not offer internet price quotes and most of the time these regional insurance providers provide coverage only through independent insurance agencies.
When getting Newark auto insurance quotes online, it’s not a good idea to skimp on critical coverages to save a buck or two. There are many occasions where an accident victim reduced collision coverage only to regret at claim time that the small savings ended up costing them much more. The goal is to purchase a proper amount of coverage at an affordable rate, not the least amount of coverage.
Helpful articles
- Understanding Limits and Deductibles (Allstate)
- Who Has the Cheapest Auto Insurance Rates for a Learners Permit in Newark? (FAQ)
- How Much is Car Insurance for Low Mileage Drivers in Newark? (FAQ)
- Who Has the Cheapest Newark Auto Insurance for a GMC Sierra? (FAQ)
- How Much are Car Insurance Rates for Good Students in Newark? (FAQ)
- How Much is Newark Car Insurance for Uninsured Drivers? (FAQ)
- What is Gap Insurance? (Insurance Information Institute)
- Where can I buy Insurance? (Insurance Information Institute)
- Insurance Losses by Make and Model (iihs.org)
- Alcohol Impaired Driving FAQ (iihs.org)