Who Has Affordable Car Insurance for a Toyota RAV4 in Newark?

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Buying cheaper auto insurance for a Toyota RAV4 in New Jersey is normally pretty easy, but it hinges on a lot of rating factors such as when you were born, the performance level of your vehicle, and your driving record. New Jersey drivers pay around $1,458 annually for RAV4 insurance, but that price is an estimate based on a 40-year-old single male driver with full physical damage coverage and $500 deductibles.

It's more than likely you are not 40 years old and maybe not even male, married instead of single, or maybe you have a speeding ticket that needs to be factored in. There is no perfect policy for every driver, so the only real way to find cheap auto insurance rates for your Toyota is to put in the effort to do a thorough rate comparison.

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Toyota RAV4 Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RAV4 2WD $296 $580 $582 $34 $174 $1,666 $139
RAV4 Sport 2WD $296 $580 $582 $34 $174 $1,666 $139
RAV4 4WD $296 $580 $582 $34 $174 $1,666 $139
RAV4 Limited 2WD $296 $580 $582 $34 $174 $1,666 $139
RAV4 Limited 4WD $296 $580 $582 $34 $174 $1,666 $139
RAV4 Limited 4WD $296 $580 $582 $34 $174 $1,666 $139
RAV4 Sport 4WD $296 $580 $582 $34 $174 $1,666 $139
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Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Premium amounts do not factor in specific zip code location which can influence coverage rates greatly.

Car insurance company ratings

Finding a high-quality auto insurance provider can be rather challenging considering how many choices there are in Newark. The ranking information in the next section could help you choose which insurers you want to consider when comparing auto insurance rates for a Toyota RAV4. The ratings below include the largest companies in the United States, so smaller companies are not taken into consideration for this list.

Top 10 Major Auto Insurance Providers Overall in Newark

  1. Mercury Insurance
  2. The Hartford
  3. Progressive
  4. Travelers
  5. State Farm
  6. Farmers Insurance
  7. Safeco Insurance
  8. USAA
  9. GEICO
  10. 21st Century

Top 10 Major Auto Insurance Providers in Newark Ranked by Claims Service

  1. Progressive
  2. USAA
  3. Liberty Mutual
  4. GEICO
  5. State Farm
  6. Nationwide
  7. Allstate
  8. 21st Century
  9. The Hartford
  10. Farmers Insurance

Poor driving habits will raise your car insurance rates

The obvious way to earn the most affordable car insurance prices in Newark for a RAV4 is to be a cautious driver and avoid getting tickets or having accidents. The example below demonstrates how citations and at-fault collisions can influence premium costs for different ages of insureds. The rates are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.

In the example above, the average cost of an auto insurance policy per year with a clean driving record and no accidents is $2,270. Receive one speeding ticket and the average cost rises to $2,579, an increase of $309 each year. Then throw in two accidents along with the one speeding ticket and the 12-month cost of car insurance for a Toyota RAV4 goes up to an average of $5,463. That's an increase of $3,193, or $266 per month, just for a couple of infractions!

The illustration below shows how choosing a deductible can increase or decrease premium costs when searching for cheap insurance for a Toyota RAV4. The prices are based on a married female driver, comp and collision included, and no other discounts are factored in.

In the chart above, a 30-year-old driver could cut expenses by $456 a year by increasing from a $100 deductible to a $500 deductible, or save $690 by using a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could shave $976 or more just by choosing higher deductibles when buying full coverage. When insureds make the decision to increase the deductibles on their policy, it is important to have plenty of money set aside to enable you to pay the extra out-of-pocket expense associated with higher deductibles.

Full coverage versus liability only rates

Reducing the cost of car insurance is probably important to most drivers, and one way to find cheaper insurance for a Toyota RAV4 is to buy only liability coverage. The information below shows the comparison of car insurance costs with liability coverage only compared to full coverage. The data is based on no claims or violations, $1,000 deductibles, drivers are single, and no discounts are factored in.

If averaged for all ages, full coverage costs $2,377 per year more than just insuring for liability. That raises the question if buying full coverage is a waste of money. There isn't a written rule of when to stop paying for full coverage on your policy, but there is a general school of thought. If the annual cost of coverage is more than around 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

There are some conditions where removing full coverage is not in your best interest. If you haven't paid off your loan, you must maintain physical damage coverage to protect the lienholder's interest in the vehicle. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage.