A recent survey discovered that the vast majority of New Jersey car insurance customers have purchased from the same company for more than four years, and almost 40% of drivers have never even compared quotes to find cheap rates. With the average car insurance premium being $1,847, American drivers could save themselves 47% a year by just shopping around, but they don’t know the amount of money they would save if they replace their high priced policy.
The most effective way to get more affordable Toyota Matrix insurance in Newark is to begin comparing prices regularly from insurance carriers in New Jersey. You can compare rates by completing these steps.
First, read and learn about how your policy works and the steps you can take to lower rates. Many things that cause high rates like getting speeding tickets and a bad credit rating can be eliminated by making minor driving habit or lifestyle changes.
Second, compare prices from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can provide rates from a single company like GEICO and State Farm, while agents who are independent can give you price quotes for a wide range of insurance providers.
Third, compare the new quotes to your existing coverage and see if there is a cheaper rate. If you find a better price and switch companies, ensure there is no coverage lapse between policies.
The critical component of shopping around is to use similar deductibles and liability limits on every quote request and and to get price quotes from as many different insurance providers as possible. Doing this helps ensure a fair rate comparison and and a good selection of different prices.
Comparison shopping for the best-priced auto insurance policy in Newark is easy to do. Virtually each driver who quotes auto insurance will be able to lower their premiums. Nevertheless, New Jersey vehicle owners can benefit from knowing how the larger insurance companies calculate your auto insurance rates and use it to your advantage.
When quoting car insurance, remember that comparing more prices increases the chance that you will find the best price. Not every company allows you to get rate quotes online, so you should also compare rates on coverage from those companies, too.
The companies in the list below can provide free rate quotes in Newark, NJ. To get cheap auto insurance in Newark, it’s highly recommended you get rate quotes from several of them to find the cheapest car insurance rates.
Cheap Toyota Matrix insurance in Newark
Some insurance providers do not advertise all possible discounts in a way that’s easy to find, so the following is a list of both the well known and the more hidden insurance savings. If you check and find you aren’t receiving every discount possible, you are not getting the best rate possible.
- Senior Citizen Discount – Older drivers can get a small discount on rates.
- Paperless Signup – A few insurance companies will discount your bill up to fifty bucks simply for signing on the internet.
- Save with More Vehicles Insured – Purchasing coverage when you have multiple cars or trucks on a single policy can reduce rates for all insured vehicles.
- Military Discounts – Being on active deployment in the military could trigger a small discount.
- Life Insurance Discount – If the company offers life insurance, you could get a small discount if you purchase auto and life insurance together.
- Good Student – Performing well in school may save you up to 25%. Many companies even apply the discount to college students up until you turn 25.
- Home Ownership Discount – Owning your own home or condo can save you money because it is proof of financial responsibility.
- Safety Course Discount – Taking part in a course in defensive driver could earn you a small percentage discount if your company offers it.
- Telematics Discount – People who choose to allow their insurance company to track driving habits by using a telematics device in their vehicle like Allstate’s Drivewise may see discounts if they are good drivers.
One last thing about discounts, most of the big mark downs will not be given to the entire policy premium. Most only cut individual premiums such as physical damage coverage or medical payments. So when it seems like having all the discounts means you get insurance for free, insurance companies aren’t that generous.
The example below shows the comparison of Toyota Matrix auto insurance costs with and without discounts. The rates are based on a female driver, no claims or driving violations, New Jersey state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, multi-policy, safe-driver, multi-car, marriage, and homeowner discounts applied.
To view insurance companies who offer free Toyota Matrix insurance quotes in New Jersey, click here to view.
Data for Toyota Matrix insurance
The data table shown below covers estimates of rate quotes for Toyota Matrix models. Having a good understanding how car insurance prices are figured can help drivers make informed decisions when comparing rates.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $258 | $580 | $582 | $34 | $174 | $1,628 | $136 |
| Matrix S 2WD | $296 | $684 | $582 | $34 | $174 | $1,770 | $148 |
| Matrix S AWD | $296 | $684 | $582 | $34 | $174 | $1,770 | $148 |
| Matrix XRS 2WD | $296 | $684 | $582 | $34 | $174 | $1,770 | $148 |
| Get Your Own Custom Quote Go | |||||||
Premium data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Prices do not factor in your specific Newark location which can increase or decrease auto insurance rates significantly.
Policy deductibles
A question often asked by Newark drivers is what deductibles to buy. The comparison tables below illustrate the differences in premium rates between high and low deductibles. The first rate estimation uses a $100 deductible for comp and collision and the second price chart uses a $1,000 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $360 | $746 | $480 | $28 | $144 | $1,783 | $149 |
| Matrix S 2WD | $414 | $880 | $480 | $28 | $144 | $1,971 | $164 |
| Matrix S AWD | $414 | $880 | $480 | $28 | $144 | $1,971 | $164 |
| Matrix XRS 2WD | $414 | $880 | $480 | $28 | $144 | $1,971 | $164 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Matrix 2WD | $200 | $394 | $480 | $28 | $144 | $1,246 | $104 |
| Matrix S 2WD | $230 | $464 | $480 | $28 | $144 | $1,346 | $112 |
| Matrix S AWD | $230 | $464 | $480 | $28 | $144 | $1,346 | $112 |
| Matrix XRS 2WD | $230 | $464 | $480 | $28 | $144 | $1,346 | $112 |
| Get Your Own Custom Quote Go | |||||||
Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Price information does not factor in Newark location which can decrease or increase prices significantly.
Based on these figures, using a $100 deductible costs approximately $50 more each month or $600 for a full year than buying the higher $1,000 deductible. Because you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average more than 18 months between claim filings, you would save money by selecting a higher deductible.
The example below illustrates how your choice of deductibles and can change Toyota Matrix insurance premiums for different age groups. The information is based on a single female driver, full coverage, and no additional discounts are factored in.
Comparison of insurance rates by age and gender in Newark
The diagram below compares Toyota Matrix auto insurance costs for male and female drivers. Data assumes no claims or driving citations, comprehensive and collision coverage, $1,000 deductibles, single marital status, and no discounts are factored in.
Insurance quotes from local Newark insurance agencies
Some consumers prefer to talk to a local agent and doing that can be a smart decision A good thing about price shopping on the web is that you can find better rates and still choose a local agent. And providing support for neighborhood agents is important especially in Newark.
To make it easy to find an agent, after completing this form (opens in new window), your insurance data is sent to local insurance agents in Newark who will give you bids and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to find an agent on your own because prices are sent immediately to you. You’ll get the best rates and an insurance agent to talk to. If for some reason you want to get a price quote from a particular provider, you would need to search and find their rate quote page to submit a rate quote request.
Not all car insurance agents are the same
When narrowing the list to find a reliable insurance agent, you must know there are a couple different types of agencies and how they can write your policy. Agencies in Newark are either independent or exclusive.
Independent Agents
Agents that elect to be independent are normally appointed by many insurers and that enables them to quote your coverage with many different companies and find you the best rates. To transfer your coverage to a different company, your policy is moved internally which makes it simple for you. If you need cheaper insurance rates, you should always get some free quotes from at least one independent agent so that you can do a thorough price comparison. They also have the ability to place coverage with additional companies that you may not be familiar with which could offer lower prices.
The following is a list of independent insurance agencies in Newark who may be able to give you comparison quotes.
- Halsey Street Agency Inc
199 Halsey St – Newark, NJ 07102 – (973) 621-0955 – View Map - Ed Young Agency
942 S Orange Ave – Newark, NJ 07106 – (973) 375-0003 – View Map - Preferred Choice Insurance Agency
225 Newark Ave – Jersey City, NJ 07302 – (201) 616-7644 – View Map
Exclusive Insurance Agents
Exclusive insurance agents can only provide one company’s prices such as Allstate, State Farm and Farmers Insurance. Exclusive agents cannot provide other company’s prices so they have no alternatives for high prices. They are well trained on their company’s products and that can be a competitive advantage. A lot of people use the same exclusive agent mainly due to the prominence of the brand rather than having low rates.
Below are exclusive insurance agents in Newark that can give you comparison quotes.
- Farmers Insurance – Anthony Pugliese
41 Wilson Ave – Newark, NJ 07105 – (973) 732-2105 – View Map - Farmers Insurance – Christine Veliz
229 Bloomfield Ave – Newark, NJ 07104 – (973) 482-1975 – View Map - State Farm: Zanetta Glover
570 Broad St #114 – Newark, NJ 07102 – (973) 648-0699 – View Map
Selecting an insurance agency is decision based upon more than just the price. Below are some questions you should ask.
- Where are claims handled?
- Is every driver in your family covered?
- Do they review policy coverages at every renewal?
- Do they offer accident forgiveness?
- Which companies can they place coverage with?
- Does the quote include credit and driving reports?
- How does the company pay claims for a total loss?
- Will they make sure you get an adequate claim settlement?
Don’t assume everyone needs the same insurance coverage
When it comes to choosing coverage for your personal vehicles, there really is no cookie cutter policy. Your needs are unique to you.
For instance, these questions might help in determining if your insurance needs would benefit from an agent’s advice.
- Should I rate my vehicle as business use?
- Am I covered if I hit someone who is not insured?
- How can I get high-risk coverage after a DUI?
- Am I covered if I drive in a foreign country?
- Should I carry comprehensive and collision coverage?
- When would I need rental car insurance?
If it’s difficult to answer those questions but a few of them apply, you may need to chat with a licensed agent. If you want to speak to an agent in your area, take a second and complete this form.
Five Tips to Get Cheaper Newark Insurance Prices
When buying auto insurance it’s important to understand the factors that help calculate auto insurance rates. If you have some idea of what impacts premium levels, this helps enable you to make changes that may reward you with lower auto insurance prices. Many different elements are part of the calculation when you get your auto insurance bill. A few of the factors are predictable such as your driving history, but other factors are not quite as obvious such as your marital status and annual miles driven.
Marriage discount – Being married actually saves money on your auto insurance policy. Having a significant other means you’re more mature and responsible and it’s proven that married drivers get in fewer accidents.
Save money by having multiple policies – The majority of insurance companies allow a discount to policyholders who buy several policies from them in the form of a multi-policy discount. Even with this discount applied, you still need to check prices from other companies to help guarantee you have the best rates. You may still find lower rates by buying auto insurance from a different company.
More annual miles equals more premium – Driving a lot of miles in a year the more it will cost to insure it. The majority of insurers price each vehicle’s coverage based upon how much you drive. Autos left parked in the garage can get a lower rate as compared to vehicles used primarily for driving to work. It’s always a good idea to double check that your policy shows the correct usage, because it can save money. An improperly rated Matrix can cost quite a bit.
Certain employers pay higher premiums – Careers like military personnel, architects, and miners have the highest rates in part from intense work situations and incredibly demanding work hours. On the other hand, careers like scientists, students and retirees have lower than average premiums.
Better rates for continuous coverage – Not maintaining insurance is against the law and your next policy will cost more because you let your insurance expire. And not only will your rates increase, failure to provide proof of insurance may result in a hefty fine and possibly a revoked license. Then you may be required to prove you have insurance by filing a SR-22 with the New Jersey DMV.
Insuring your vehicle just makes sense
Even though Newark Matrix insurance rates can get expensive, car insurance is not optional due to several reasons.
- Just about all states have mandatory insurance requirements which means the state requires a specific level of liability insurance coverage in order to get the vehicle licensed. 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 have a loan on your Toyota Matrix, it’s guaranteed your bank will make it a condition of the loan that you have physical damage coverage to guarantee payment of the loan. If you do not keep the policy in force, the bank or lender will purchase a policy for your Toyota for a much higher rate and force you to pay for it.
- Insurance protects not only your car but also your assets. Insurance will pay for medical expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if you are named as a defendant in an auto accident. If your Toyota gets damaged, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.
The benefits of carrying enough insurance more than cancel out the cost, especially for larger claims. Despite what companies tell you, the average driver is overpaying over $750 every year so we recommend shopping around at least once a year to save money.
The best insurance company isn’t always the cheapest
As you restructure your insurance plan, don’t be tempted to skimp on critical coverages to save a buck or two. There have been many situations where consumers will sacrifice full coverage only to regret that a couple dollars of savings turned into a financial nightmare. Your strategy should be to purchase plenty of coverage for the lowest price, but do not skimp to save money.
Consumers switch companies for any number of reasons including poor customer service, delays in responding to claim requests, extreme rates for teen drivers and even lack of trust in their agent. Regardless of your reason for switching companies, finding a great new company is easier than you think.
We just covered a lot of techniques to reduce Toyota Matrix insurance prices online in Newark. The most important thing to understand is the more providers you compare, the more likely it is that you will get a better rate. You may even find the biggest savings come from the least-expected company.
To read more, link through to the resources below:
- Coverage Information (Progressive Insurance)
- Who Has the Cheapest Auto Insurance Rates for a Learners Permit in Newark? (FAQ)
- Who Has Cheap Car Insurance Quotes for Drivers Over Age 70 in Newark? (FAQ)
- What Insurance is Cheapest for a Mazda CX-7 in Newark? (FAQ)
- Who Has Cheap Newark Auto Insurance for College Students? (FAQ)
- What Auto Insurance is Cheapest for Inexperienced Drivers in Newark? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Company Car in Newark? (FAQ)
- Distracted Driving Extends Beyond Texting (State Farm)
- Credit Impacts Car Insurance Rates (State Farm)