Finding affordable auto insurance for a Toyota Highlander is pretty simple, but it is dependent upon lots of different rating factors such as how you use your Highlander, your credit score, and if you have tickets or violations. Drivers in New Jersey pay approximately $1,215 per year to insure their Highlander, but that figure is an estimation based upon a 50-year-old married female driver with full comprehensive and collision coverage and $500 deductibles.
If we were betting, you are not 50 years old and maybe not even female, you might be single instead of married, or maybe you need higher liability limits than the state minimum. Even a minor change in policy rating criteria or coverages can result in a large change in the policy rate.
Auto insurance is not the same for everyone, so the way we recommend to find the cheapest coverage for your Toyota is to do the rate comparisons yourself. To start saving now, get free quotes and you will get price quotes from some of the most affordable companies in New Jersey.
The trim level of your Toyota will most likely have an effect on the insurance rate, so the price to insure a Highlander 2WD trim level will be $210 cheaper than the insurance cost for the fancier Highlander Hybrid Limited 4WD version, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Highlander Sport 4WD||$262||$418||$452||$26||$136||$1,294||$108|
|Highlander SE 2WD||$262||$418||$452||$26||$136||$1,294||$108|
|Highlander Sport 2WD||$262||$418||$452||$26||$136||$1,294||$108|
|Highlander Limited 2WD||$292||$494||$452||$26||$136||$1,400||$117|
|Highlander SE 4WD||$292||$494||$452||$26||$136||$1,400||$117|
|Highlander Limited 4WD||$292||$494||$452||$26||$136||$1,400||$117|
|Highlander Hybrid 4WD||$292||$494||$452||$26||$136||$1,400||$117|
|Highlander Hybrid Limited 4WD||$292||$494||$452||$26||$136||$1,400||$117|
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Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Rate quotes do not factor in specific zip code location which can influence coverage rates considerably.
Finding budget auto insurance is hard enough, and determining which company quotes the lowest-priced car insurance rates for a Toyota Highlander calls for more quotes for comparison. Every insurance provider has a unique approach to set their prices, so first let’s look at the rankings for the most affordable car insurance companies in New Jersey.
It’s important that readers know that Newark, NJ car insurance rates are impacted by many things that may substantially change the policy premium. This price variation is why it is so important to shop around with many companies when trying to find the best car insurance quotes for a Toyota Highlander. Insurance prices are influenced by many things and change dramatically, so the cheapest option three years ago may now be one of the higher cost companies.
Best Auto Insurance Prices for Your Highlander
21st Century may have some of the lowest car insurance rates in Newark at around $1,067 a year. Travelers, New Jersey Manufacturers, Penn National, and Palisades also rank well as some of the best Newark, NJ insurance companies.
As depicted above, if you are insured with Penn National and switched to 21st Century, you may realize a yearly savings of in the vicinity of $258. Drivers with Palisades may save as much as $287 a year, and The Hartford policyholders might lower prices by up to $409 a year.
Understand that those estimates are averaged across all drivers and vehicles in New Jersey and and are not figured with an exact vehicle garaging location for a Toyota Highlander. So the insurer that is best suited for you may not even be in the list above. That points out the importance of why you need to get car insurance quotes using your own specific driver and vehicle information.
Should you buy full coverage?
Finding cheaper car insurance is important to most vehicle owners, and one good way to pay less for insurance for a Toyota Highlander is to only buy liability insurance. The information below visualizes the comparison of insurance premiums with full coverage and liability only. The costs are based on no violations or accidents, $100 deductibles, drivers are not married, and no policy discounts are applied.
If averaged out across all ages, comp and collision coverage costs an extra $3,012 per year over and above liability only. Many drivers will wonder if buying full coverage is a good investment. There is no clear-cut formula for dropping comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is more than around 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
There are a few situations where dropping physical damage coverage is not a good plan. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should keep full coverage in place.
Illustration showing the impact of accidents and violations
The ideal way to obtain affordable car insurance premiums in New Jersey for a Highlander is to drive carefully and avoid accidents and violations. The information below illustrates how speeding tickets and at-fault fender-benders can impact insurance costs for different age categories. The premium estimates are based on a single female driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.
The chart shows that the average cost of auto insurance in New Jersey per year with no violations or accidents is $2,888. Get written up for one speeding ticket and the average cost surges to $3,274, an increase of $386 each year. Then add one accident along with the one speeding ticket and the yearly cost of car insurance for a Toyota Highlander goes up to an average of $4,345. That’s an increase of $1,457, or $121 per month, just for not driving safely!
Why are you paying too much to insure your Highlander?
Newark car insurance rates are impacted by many factors which can significantly increase or decrease the cost of coverage. Improving your credit score, buying a home, or getting a couple of tickets can trigger price changes that can make some companies more affordable than before.
In addition to those changes, insurers amend pricing every year or even multiple times each year in order to protect their financial rating. Heavier than normal losses may result in increased rates, while a better loss history can cause lower-priced Highlander insurance rates.
The bar chart below analyzes the cheapest car insurance in Newark, NJ for a 35-year-old female driver with no prior claims, no tickets, and good financial standing. If we compare prices based on her personal risk profile, 21st Century offers the cheapest car insurance rates in Newark at $1,640 annually. This is $212 less than the average premium paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Palisades, and Penn National round out the rest of the cheapest Newark, NJ auto insurance companies.
Now we will give the driver from the first set of rates some claims, a lower credit rating, and an imperfect driving record. Because each insurer has their own unique process for establishing rates, comparing prices may result in a different set of cheap Newark auto insurance companies as shown below.
The Hartford now has the best insurance rate in Newark with Allstate, USAA, Mercury, and Travelers now being in the top five. This example illustrates why consumers need to take the time to compare lots of rates when trying to find the most affordable car insurance rates for a Toyota Highlander.
Auto insurance prices can be determined by many things and can change substantially, so the most affordable company two years ago may now not even be in the top five.
How to find budget-friendly car insurance for a Toyota Highlander
The list below summarizes many penny-pinching solutions that can help Newark drivers get cheaper auto insurance.
- Tickets and violations raise rates
- Improve your credit rating
- Maintain a safe distance and avoid accidents
- Insure your home and auto with the same company
- Do not file small claims
- Increase physical damage deductibles
- Keep rates low by comparing prices once a year
That last idea is very significant, as was affirmed in this write-up. Rates fluctuate constantly, so don’t hesitate to change to a new company if a better deal can be had.
Brand loyalty is not necessarily bad, but it’s not a good idea if that faithfulness ends up costing you a wad of cash every year. Take a couple minutes and shop around and find cheaper auto insurance for a Toyota Highlander in Newark.
The insurance agents in Newark listed below can probably aid you in deciding which insurance coverage will be best for you, since some drivers aren’t sure which coverage they need and prefer to get some guidance when trying to find lower insurance rates for a Highlander. It can be time-consuming to find the best policy yourself, and getting advice from a licensed New Jersey insurance agent can give you peace of mind knowing you have adequate asset protection. To locate an agency close to where you live, click the button below the list or click here to compare rates now.
- N J Insurance Underwriting
744 Broad St # 1100 – Newark, NJ 07102 – (973) 622-3838
- Ironbound Business Insurance
275 Chestnut St – Newark, NJ 07105 – (866) 497-1001
- Ed Young Agency
942 S Orange Ave – Newark, NJ 07106 – (973) 375-0003
- Abbott/Milano Insurance Agency
9 Frank E Rodgers Blvd S – Harrison, NJ 07029 – (973) 350-9999