Wouldn’t it be easy if you could just know the single best company in Newark that has the cheapest insurance for hybrid vehicles? Unfortunately, it’s just not that easy, as there are a whole bunch of unknowns like your credit rating, the miles you drive each year, the performance level of your vehicle, and what level of deductibles you need. The content below covers the things that cause high insurance rates and will hopefully give you a solid foundation to find cheaper car insurance in Newark.
The car, truck, or SUV to be insured is probably the largest consideration when quoting the best auto insurance for hybrid vehicles. Vehicles with lower performance, excellent safety ratings, or low incidents of liability claims will cost much less to insure than fast, unsafe models.
The list below ranks insurance rates for the most economical automobiles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$1,835|
|Ford Escape XLS 4WD||$1,842|
|Volkswagen Jetta S 2.5 Station Wagon||$1,988|
|Hyundai Elantra GLS Touring Station Wagon||$2,102|
|Chevrolet Impala LT||$2,166|
|Jeep Grand Cherokee Laredo 4WD||$2,171|
|Dodge Grand Caravan Hero||$2,166|
|Ford Focus SES 4-Dr Sedan||$2,240|
|Honda Accord LX 4-Dr Sedan||$2,249|
|Honda Odyssey EX-L W/Navigation||$2,280|
|Ford F-150 STX Super Cab 2WD||$2,311|
|Ford F-250 XL 2WD||$2,323|
|Ford Fusion Sport 4-Dr Sedan||$2,328|
|Hyundai Sonata GLS 4-Dr Sedan||$2,323|
|GMC Sierra Denali Crew Cab 4WD||$2,480|
|Chevrolet Silverado LT Crew Cab 2WD||$2,490|
|Toyota RAV4 Limited 2WD||$2,489|
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Price information does not factor in vehicle location which can decrease or increase insurance rates noticeably.
By looking at the data, we can assume that cars like the Honda CR-V, Ford Escape, and Volkswagen Jetta are most likely going to be a few of the less-costly vehicles to insure for hybrids.
For hybrids, one of the more important considerations that help determine the annual cost of car insurance is where your residence is in Newark. Areas with a lot of weather claims or more people are more likely to have higher rates, whereas more rural areas benefit from lower prices.
The illustration below lists the highest-priced areas in New Jersey for hybrid vehicles to purchase auto insurance in. Newark is ranked at #1 with a yearly premium of $2,572 for the average policy, which is approximately $214 monthly.
|Rank||City||Average Per Year|
|3||West New York||$2,506|
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Premium amounts are comparative as the specific Newark residence address can increase or decrease insurance rates considerably.
Driving violations and accidents
A great way to maintain the most affordable auto insurance prices in Newark for hybrids is to be a careful driver and avoid getting tickets or having accidents. The diagram below highlights how speeding tickets and at-fault claims can affect car insurance costs for different ages of insureds. The data is based on a married female driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of car insurance in Newark per year with no accidents or violations is $2,045. Get written up for one speeding ticket and the average cost hikes up to $2,393, an increase of $348 each year. Then include one accident along with the one speeding ticket and the yearly cost of auto insurance for hybrid vehicles goes up to an average of $3,362. That’s an increase of $1,317, or $110 per month, just for being a less-than-perfect driver!
The diagram below shows how different deductible levels can raise or lower yearly insurance costs when getting quotes for cheap insurance for hybrid vehicles. The information is based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
The chart above illustrates that a 50-year-old driver could lower rates by $452 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $680 by selecting a $1,000 deductible. Even younger insureds, like the Age 20 category, could lower their rates $1,520 or more just by choosing higher deductibles.
When raising deductibles, it’s a good idea to have additional savings on hand to be able to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Discount Newark auto insurance rates
Insurers that sell policies for hybrid vehicles may have policy discounts that may potentially lower prices by 35% or more if you are eligible. A few of the larger companies and some of the premium reductions they offer are outlined below.
- Farmers Insurance may have discounts that include electronic funds transfer, pay in full, early shopping, bundle discounts, and business and professional.
- State Farm offers premium reductions for passive restraint, Drive Safe & Save, multiple policy, driver’s education, and accident-free.
- Liberty Mutual has savings for good student, new vehicle discount, hybrid vehicle, teen driver discount, exclusive group savings, multi-policy, and preferred payment discount.
- MetLife policyholders can earn discounts including good student, defensive driver, multi-policy, claim-free, and accident-free.
- Progressive has discounts for online signing, homeowner, good student, multi-policy, and continuous coverage.
The diagram below illustrates the comparison of car insurance costs with and without discounts applied to the rates. The price estimates are based on a male driver, no driving violations, no at-fault accidents, New Jersey state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with multiple policy, defensive driving course, vehicle safety, passive restraint, accident-free, and claim-free discounts applied. When these discounts are applied, theamount saved on auto insurance for hybrid vehicles is 28% or $697.
If you wish to have professional advice when buying car insurance for hybrids, the agencies below are willing to provide answers to your questions and help you determine which auto insurance coverages would be the best in your situation.
To find a Newark insurance agency closest to you, click the button link following the list.
- State Farm Insurance
360 Chestnut St – Newark, NJ 07105 – (800) 701-5909
- Dependable Insurance Agency Inc
1030 S Orange Ave – Newark, NJ 07106 – (973) 372-0002
- Farmers Insurance: Anthony Pugliese
217 Chestnut St – Newark, NJ 07105 – (973) 536-2060
- Goker and Associates Insurance Agency
121 Elizabeth Ave #101 – Newark, NJ 07108 – (908) 344-7577
How to find economical auto insurance for hybrid vehicles
The list below summarizes a few money-saving solutions that can help drivers buy low-cost coverage.
- Bundle car and home insurance and save money
- Choose a safer vehicle and pay lower rates
- Higher credit scores may earn you cheaper rates
- Save money by staying claim-free
- Do not pay for comprehensive and collision coverage on older vehicles
- Raise comprehensive and collision coverage deductibles
- Keep rates low by comparing prices once a year
That last piece of advice is certainly necessary, as was pointed out in the prior information. Prices charged by auto insurers adjust often, so drivers shouldn’t be resistant to buy a different policy if a better rate can be found. Having a favorite company is great, but it’s not recommended if that devotion results in you overpaying hundreds of dollars year after year. Now is a great time to shop around and find cheaper car insurance for hybrid vehicles in Newark.