Are you looking for a better way to compare cheaper Toyota Tacoma insurance in Newark? Locating better insurance prices for a new or used Toyota Tacoma in New Jersey can normally be a lot of work, but you can learn these tips to find lower rates. There are more efficient ways to find auto insurance online so you’re going to learn the best way to get price quotes for a Toyota and locate the lowest price from both online companies and Newark agents.
If you have a policy now or just want cheaper coverage, you can follow these tips to lower your rates while maintaining coverages. Locating the best coverage in Newark is not as hard as you think. Smart shoppers just need to understand how to get comparison quotes instantly.
Getting low cost insurance pricing is actually easier than you may think. All you need to do is take a couple of minutes comparing free Newark car insurance quotes provided by online insurance companies.
The following companies have been selected to offer free rate quotes in Newark, NJ. To get the best car insurance in NJ, we recommend you visit several of them to get the best price comparison.
Discounts for affordable car insurance quotes
Companies offering auto insurance don’t always publicize all discounts in a way that’s easy to find, so the next list breaks down some of the best known and also the lesser-known discounts that may be available.
- Discounts for Good Drivers – Drivers who avoid accidents can save up to 40% or more on their Newark car insurance quote compared to rates paid by drivers with frequent claims.
- Driving Data Discount – Policyholders that allow their company to look at where and when they drive by using a telematics device in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system could save a few bucks as long as the data is positive.
- Pay Upfront and Save – If paying your policy premium upfront instead of paying each month you can avoid monthly service charges.
- Discount for Life Insurance – Some insurance carriers give a discount if you purchase some life insurance too.
- Distant Student Discount – Children living away from Newark attending college and don’t have a car could get you a discount.
- Theft Deterrent System – Anti-theft and alarm system equipped vehicles are stolen with less frequency and will save you 10% or more on Tacoma insurance in Newark.
- Passive Restraint Discount – Factory air bags or motorized seat belts could see savings of 20 to 30 percent.
- Clubs and Organizations – Participating in certain professional organizations is a good way to get lower rates on car insurance.
- Anti-lock Brakes – Vehicles that have steering control and anti-lock brakes can reduce accidents and qualify for as much as a 10% discount.
Discounts save money, but please remember that most credits do not apply to the entire policy premium. A few only apply to individual premiums such as comprehensive or collision. Even though the math looks like all those discounts means the company will pay you, you aren’t that lucky. Any qualifying discounts will lower your car insurance premiums.
The chart below shows the difference between Toyota Tacoma insurance rates with and without discounts applied to the policy premium. The rate quotes are based on a female driver, no driving violations, no at-fault accidents, New Jersey state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-policy, multi-car, marriage, and homeowner discounts applied.
A list of car insurance companies and the discounts they provide are:
- GEICO discounts include seat belt use, federal employee, anti-theft, multi-policy, and anti-lock brakes.
- Travelers may include discounts for multi-car, IntelliDrive, early quote, new car, continuous insurance, and student away at school.
- Farm Bureau includes discounts for youthful driver, renewal discount, good student, safe driver, and driver training.
- Liberty Mutual has savings for newly retired, new move discount, multi-car, good student, preferred payment discount, multi-policy, and newly married.
- American Family offers discounts including early bird, accident-free, Steer into Savings, multi-vehicle, and good student.
- Progressive has discounts for good student, multi-policy, continuous coverage, online signing, and multi-vehicle.
When quoting, ask every insurance company which discounts you may be entitled to. Savings might not be offered on policies in your state.
Analysis of coverages
The data table shown below highlights a range of coverage prices for Toyota Tacoma models. Having a better idea how car insurance premiums are calculated is important for drivers to make informed decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$322||$634||$462||$28||$138||$1,584||$132|
|Tacoma X-Runner 2WD||$322||$748||$462||$28||$138||$1,698||$142|
|Tacoma Double Cab 4WD||$364||$634||$462||$28||$138||$1,626||$136|
|Tacoma Double Cab TRD Off-Road Package 4WD||$364||$634||$462||$28||$138||$1,626||$136|
|Tacoma Double Cab TRD Sport Package 4WD||$364||$634||$462||$28||$138||$1,626||$136|
|Get Your Own Custom Quote Go|
Price data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Information does not factor in the specific area where the vehicle is garaged which can alter premiums greatly.
Analysis of deductible levels
When shopping for auto insurance, a common question is how low should you set your deductibles. The following tables summarize the differences in premium rates when you choose different insurance deductibles. The first set of rates uses a $100 physical damage coverage deductible and the second set of prices uses a $500 deductible.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$414||$746||$480||$28||$144||$1,837||$153|
|Tacoma X-Runner 2WD||$414||$880||$480||$28||$144||$1,971||$164|
|Tacoma Double Cab 4WD||$466||$746||$480||$28||$144||$1,889||$157|
|Tacoma Double Cab TRD Off-Road Package 4WD||$466||$746||$480||$28||$144||$1,889||$157|
|Tacoma Double Cab TRD Sport Package 4WD||$466||$746||$480||$28||$144||$1,889||$157|
|Get Your Own Custom Quote Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Tacoma Double Cab 4WD||$302||$504||$480||$28||$144||$1,458||$122|
|Tacoma X-Runner 2WD||$302||$594||$480||$28||$144||$1,548||$129|
|Tacoma Double Cab 4WD||$340||$504||$480||$28||$144||$1,496||$125|
|Tacoma Double Cab TRD Off-Road Package 4WD||$340||$504||$480||$28||$144||$1,496||$125|
|Tacoma Double Cab TRD Sport Package 4WD||$340||$504||$480||$28||$144||$1,496||$125|
|Get Your Own Custom Quote Go|
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Estimates do not factor in zip code location which can decrease or increase prices considerably.
Based on the above data, using a $100 deductible will cost in the ballpark of $31 more each month or $372 each year than selecting the higher $500 deductible. Since the policyholder would be required to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you tend to go more than 13 months between claims, you would probably be better off if you opt for a higher deductible.
The diagram below demonstrates how choosing different deductibles and can increase or decrease Toyota Tacoma insurance prices for different age groups of insureds. The data assumes a married female driver, full coverage, and no discounts are applied.
Toyota Tacoma insurance rates by gender in Newark
The example below compares Toyota Tacoma annual premium costs for male and female drivers. The premiums assume a clean driving record, no claims, full physical damage coverage, $1,000 deductibles, marital status is single, and no discounts are applied.
Liability only or full coverage
The illustration below compares Toyota Tacoma yearly insurance costs with liability coverage only compared to full coverage. The premiums are based on no accidents, no driving violations, $250 deductibles, single status, and no other discounts are factored in.
When to eliminate full coverage
There is no exact rule to exclude comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let’s assume your Toyota Tacoma replacement value is $6,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,000 after the deductible is paid. If premiums are more than $500 annually for physical damage coverage, then you might want to consider buying only liability coverage.
There are some scenarios where buying only liability insurance is not recommended. If you still owe a portion of the original loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.
Exclusive versus independent auto insurance agents
Certain consumers still prefer to go talk to an agent and doing so can bring peace of mind Good insurance agents can answer important questions and help submit paperwork. An additional benefit of comparing insurance online is the fact that drivers can get cheaper rates and still have a local agent.
Once you complete this quick form, your coverage information gets sent to agents in your area who want to provide quotes for your insurance coverage. It’s much easier because you don’t need to find an agent on your own since rate quotes are delivered straight to your inbox. If you wish to get a rate quote from one company in particular, you can always find their quoting web page to submit a rate quote request.
Choosing the best insurer needs to be determined by more than just the price. These are some valid questions you should ask.
- Which companies can they place coverage with?
- Do they specialize in personal lines coverage in Newark?
- Are they in the agency full-time?
- Does the company have a local claim office in Newark?
- What will you get paid if your car is a total loss? How is that amount determined?
- Does the quote include credit and driving reports?
- Can they give you a list of client referrals?
- When do they do a full risk review?
The different types of car insurance agents
If you want to buy insurance from a reputable insurance agent or broker, it’s helpful to know the types of agencies and how they differ in how they quote coverages. Insurance agencies in Newark are either independent agents or exclusive agents depending on their employer. Either one can sell insurance policies, but it is important to understand the subtle differences since it could factor into your agent selection.
Exclusive agencies can only quote rates from one company and examples are Farmers Insurance, American Family, State Farm and Allstate. They generally cannot provide rate quotes from other companies so you might not find the best rates. Exclusive agents are usually well trained in insurance sales and that allows them to sell at a higher price point. Consumers frequently buy from exclusive agents mostly because of high brand loyalty and strong financial ratings.
Listed below are Newark exclusive agencies who may provide you with rate quotes.
- State Farm Insurance
360 Chestnut St – Newark, NJ 07105 – (800) 701-5909 – View Map
- State Farm: Greg Daniels
681 1/2 Mt Prospect Ave – Newark, NJ 07104 – (973) 484-5772 – View Map
- Farmers Insurance – Anthony Pugliese
41 Wilson Ave – Newark, NJ 07105 – (973) 732-2105 – View Map
Independent Agents (or Brokers)
Independent agencies are not limited to a single company and that allows them to write policies with a variety of different insurance companies depending on which coverage is best. If your premiums go up, an independent agent can move your coverage and the insured can keep the same agent. If you are trying to find cheaper rates, we recommend you include price quotes from several independent agencies to get the most accurate price comparison. A lot of them also have access to companies that do not advertise much which may have better rates.
Below are independent agencies in Newark that are able to give comparison quotes.
- Te Freuler
274 Chestnut St – Newark, NJ 07105 – (973) 274-0500 – View Map
- ESTIR Inc
326 Bloomfield Ave – Newark, NJ 07107 – (973) 481-5300 – View Map
- Preferred Choice Insurance Agency
225 Newark Ave – Jersey City, NJ 07302 – (201) 616-7644 – View Map
You are unique and your auto insurance should be too
When quoting and choosing your policy, there really is no perfect coverage plan. Your situation is unique.
Here are some questions about coverages that can help discover whether you might need professional guidance.
- What can I do if my company denied a claim?
- Does insurance cover damages from a DUI accident?
- Does my policy cover my teen driver if they drive my company car?
- Are there any extra discounts I can get?
- How do I buy GAP insurance?
- Should I have a commercial auto policy?
- Is motorclub coverage worth it?
If you can’t answer these questions then you might want to talk to an agent. To find lower rates from a local agent, complete this form. It only takes a few minutes and may give you better protection.
What Impacts Toyota Tacoma Insurance Rates?
Many different elements are part of the calculation when quoting car insurance. Some are obvious such as your driving history, but other criteria are less apparent such as your credit history and annual miles driven. One of the most helpful ways to save on insurance is to to have a grasp of the different types of things that come into play when calculating your policy premiums. If you know what determines premiums, this enables informed choices that can help you get better insurance rates.
The itemized list below are a partial list of the pieces used by insurance companies to determine your rates.
Pay more for higher performance vehicles – The type of car you own makes a substantial difference in your car insurance bill. The lowest rates tend to be for low performance passenger cars, but many other things help determine your insurance rates.
The next chart uses these variables: married male driver age 20, full coverage with $1000 deductibles, and no discounts or violations. It illustrates Toyota Tacoma car insurance rates compared to other models of vehicles that have a range of performance risks.
Pay more of a claim out-of-pocket – Comprehensive and collision coverage deductibles tell how much the insured will be required to pay if a covered claim is submitted. Physical damage insurance, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Examples of some claims that would be covered would be colliding with a stationary object, damage caused by hail, and having a roll-over accident. The more of the claim the insured is willing to pay, the lower your rates will be.
Keep insurance claims to a minimum – If you tend to file frequent claims, you can pretty much guarantee either a policy non-renewal or much higher rates. Auto insurance companies in New Jersey award most affordable rates to drivers who do not file claims often. Auto insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
Save annual miles and save money – The higher the mileage driven each year the more it will cost to insure it. Many insurance companies charge rates determined by how the vehicle is used. Autos left parked in the garage get more affordable rates as compared to vehicles used primarily for driving to work. An improperly rated Tacoma may be costing you higher rates. Double check that your vehicle rating shows the correct usage for each vehicle.
Low credit rating equals high premiums – An insured’s credit rating can be a huge factor in determining what you pay for insurance. If your credit history is low, you could be paying less to insure your Toyota Tacoma if you improve your credit rating. Drivers with high credit ratings tend to be better drivers and file fewer claims than those with bad credit.
Premiums are affected by your address – Having an address in less populated areas of the country may provide you with better prices if you are looking for the lowest rates. Fewer drivers and short commutes translates into fewer accidents in addition to fewer liability claims. Drivers in populated New Jersey areas have to deal with congested traffic and longer commutes to work. More time commuting means more chance of being in an accident.
Lower rates with a multi-policy discount – The majority of insurance companies will award better rates to buyers that have more than one policy, otherwise known as a multi-policy discount. If you currently are using one company, drivers will still want to compare Toyota Tacoma rates in Newark to confirm you are receiving the best rates possible.
Loss statistics for a Toyota Tacoma – Insurers take into consideration insurance loss statistics for every vehicle to help determine the rate you pay. Vehicles that statistically have high amounts or severity of claims will cost more for specific coverages.
The table below demonstrates the loss history for Toyota Tacoma vehicles. For each policy coverage type, the loss probability for all vehicles combined as an average is represented as 100. Numbers below 100 represent a good loss history, while values that are above 100 show a trend for more claims or tendency to have larger claims.
|Specific Toyota Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Toyota Tacoma Double Cab 2WD||79||109||70||77||76||92|
|Toyota Tacoma Double Cab 4WD||82||104||84||64||56||77|
|Toyota Tacoma Double Cab LWB 2WD||87||108||74||96|
|Toyota Tacoma Double Cab LWB 4WD||84||104||88||68||57||79|
|Toyota Tacoma Xtra Cab 2WD||80||105||60||86||75||96|
|Toyota Tacoma Xtra Cab 4WD||71||90||77||48||51||65|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Protect more than your Tacoma
Despite the high cost, insurance is mandatory in New Jersey but it also protects more than you think.
- Almost all states have mandatory insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability insurance coverage 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 bought your Toyota Tacoma with a loan, almost every bank will require you to have comprehensive coverage to guarantee their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Toyota at a much higher rate and force you to reimburse them for the expensive policy.
- Insurance protects not only your vehicle but also your assets. Insurance will also pay for many types of medical costs for both you and anyone you injure as the result of an accident. One policy coverage, liability insurance, will also pay for a defense attorney if you cause an accident and are sued. If your car is damaged in a storm or accident, your auto insurance policy will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance more than offset the price you pay, specifically if you ever have a liability claim. But the average American driver overpays more than $830 a year so you should quote your policy with other companies once a year at a minimum to save money.
Which car insurance company is best in New Jersey?
Ending up with a good quality insurance company can be a challenge considering how many different companies sell coverage in New Jersey. The company ratings shown next could help you analyze which auto insurance companies to look at purchasing from.
Top 10 Newark Car Insurance Companies Ranked by Customer Satisfaction
- The Hartford – 93%
- Progressive – 90%
- 21st Century – 89%
- USAA – 87%
- Mercury Insurance – 87%
- State Farm – 87%
- Travelers – 87%
- Safeco Insurance – 86%
- AAA Insurance – 86%
- American Family – 85%
Top 10 Newark Car Insurance Companies Overall
- Mercury Insurance
- The Hartford
- State Farm
- Farmers Insurance
- Safeco Insurance
- 21st Century
Smart shoppers get results
Low-cost Toyota Tacoma insurance in Newark is available online as well as from independent agents in Newark, and you should compare rates from both so you have a total pricing picture. Some companies may not provide online quoting and usually these small insurance companies only sell through local independent agents.
Consumers switch companies for a variety of reasons including extreme rates for teen drivers, denial of a claim, an unsatisfactory settlement offer and policy cancellation. It doesn’t matter why you want to switch finding the right car insurance provider is not as difficult as it may seem.
When getting Newark car insurance quotes online, it’s a bad idea to reduce needed coverages to save money. There have been many situations where drivers have reduced comprehensive coverage or liability limits and found out when filing a claim that the few dollars in savings costed them thousands. Your goal should be to buy enough coverage at the lowest possible cost, but don’t skip important coverages to save money.
How to save on Toyota Tacoma insurance in Newark
Truthfully, the best way to find more affordable Toyota Tacoma insurance is to do a yearly price comparison from insurers in Newark.
- Take a little time to learn about the different coverages in a policy and the things you can change to keep rates in check. Many factors that drive up the price such as traffic tickets, fender benders, and a not-so-good credit score can be amended by making minor changes to your lifestyle.
- Get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can give quotes from a single company like Progressive or Farmers Insurance, while independent agencies can quote rates from many different companies. View insurance agents
- Compare the price quotes to the premium of your current policy and determine if cheaper Tacoma coverage is available in Newark. If you find a lower rate quote and switch companies, ensure there is no coverage lapse between policies.
- Give proper notification to your current agent or company of your intent to cancel your current car insurance policy and submit a down payment along with a completed application to the new company. When you receive it, keep your new certificate of insurance in your vehicle’s glove compartment or console.
An important note is to use the same liability limits and deductibles on each quote and and to get quotes from as many companies as feasibly possible. This helps ensure a fair price comparison and the best price selection.
To read more, link through to the following helpful articles:
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- How Much is Newark Car Insurance for Business Use? (FAQ)
- What Car Insurance is Cheapest for a 20 Year Old Male in Newark? (FAQ)
- Who Has Affordable Newark Auto Insurance Quotes for Hybrid Vehicles? (FAQ)
- How Much are Newark Car Insurance Rates for Single Moms? (FAQ)
- Who Has Affordable Newark Auto Insurance for Drivers with a Bad Driving Record? (FAQ)
- Understanding your Policy (NAIC.org)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)