If you want to save the most money, the best way to get the cheapest Toyota Prius insurance is to start comparing prices yearly from providers in Newark.
- Spend some time learning about how car insurance works and the measures you can take to prevent rate increases. Many policy risk factors that drive up the price such as careless driving and a negative credit history can be controlled by improving your driving habits or financial responsibility. This article gives information to get cheaper rates and find more discounts that you may not know about.
- Obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from a single company like Progressive and State Farm, while independent agents can provide prices for a wide range of companies. Click to view companies
- Compare the quotes to your existing coverage and determine if there is any savings. If you find better rates and decide to switch, make sure there is no lapse in coverage.
- Give notification to your agent or company of your intention to cancel your current car insurance policy. Submit payment along with a signed and completed policy application to your new carrier. Once received, store the proof of insurance paperwork in an easily accessible location in your vehicle.
An essential thing to point out is to make sure you’re comparing identical coverage information on each quote request and and to analyze as many auto insurance providers as possible. This provides the most accurate price comparison and the most accurate and complete price analysis.
It’s hard to fathom, but almost 70% of insureds kept buying from the same company for at least the last four years, and approximately 40% of consumers have never compared quotes from other companies. The average driver in New Jersey could save almost 40% each year just by getting comparison quotes, but they just don’t understand the benefits if they replace their high priced policy.
To find cheaper quotes, there are a couple of ways to compare rate quotes from all the different companies. The simplest method to lower the rate you pay for Toyota Prius insurance is to use the internet to compare rates.
When price shopping your coverage, having more price comparisons gives you a better chance of getting a better price. Some regional insurers cannot provide rate quotes online, so you should also compare prices from them, too.
The companies in the list below are ready to provide free quotes in New Jersey. To get cheaper car insurance in Newark, it’s a good idea that you click on several of them in order to get a fair rate comparison.
Coverage information
The coverage information below covers different prices for Toyota Prius models. Having knowledge of how auto insurance prices are established can be of help when making decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Prius | $296 | $394 | $536 | $32 | $160 | $1,418 | $118 |
| Get Your Own Custom Quote Go | |||||||
Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $1000 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 zip code location which can influence premium rates substantially.
The illustration below illustrates how your choice of deductibles and can raise or lower Toyota Prius insurance costs for each age group. The premiums assume a single female driver, full physical damage coverage, and no other discounts are factored in.
Drive safe and save
The diagram below highlights how speeding tickets and fender-benders drive up Toyota Prius auto insurance rates for each age group. The prices are based on a single male driver, comp and collision included, $250 deductibles, and no other discounts are factored in.
Auto insurance prices based on gender
The diagram below illustrates the comparison of Toyota Prius car insurance rates for male and female drivers. The data is based on no claims or driving violations, full physical damage coverage, $1,000 deductibles, single marital status, and no policy discounts are applied.
Do you need full coverage?
The example below illustrates the comparison of Toyota Prius insurance prices with full physical damage coverage and with liability coverage only. The premiums are based on no accidents or driving violations, $500 deductibles, single marital status, and no additional discounts are factored in.
Should you pay for full coverage or liability only?
There is no exact rule for dropping comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
For example, let’s say your Toyota Prius settlement value is $7,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $6,000 after paying your deductible. If you are paying in excess of $600 annually for full coverage, then it might be time to consider dropping full coverage.
There are a few situations where dropping physical damage coverage is not a good plan. If you still owe money on your vehicle, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not buy liability only.
Car insurance in New Jersey serves several purposes
Even though Newark Prius insurance rates can get expensive, maintaining insurance is required by state law in New Jersey and it also provides benefits you may not be aware of.
First, almost all states have compulsory liability insurance requirements which means you are required to buy a minimum amount of liability insurance coverage in order to drive the car. 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.
Second, if you took out a loan on your car, it’s most likely the lender will have a requirement that you buy insurance to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank will be required to insure your Toyota at an extremely high rate and require you to fork over for it.
Third, car insurance preserves both your Toyota and your personal assets. It will also provide coverage for most medical and hospital costs for you, any passengers, and anyone injured in an accident. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, your policy will pay to restore your vehicle to like-new condition.
The benefits of carrying enough insurance outweigh the cost, especially when you need to use it. Unknowingly, the average driver is currently overpaying as much as $865 each year so you should quote and compare rates at least once a year to ensure rates are inline.
Six discounts for affordable auto insurance rates
Not many people think insurance is cheap, but you may find discounts that can drop the cost substantially. Some discounts apply automatically when you quote, but a few must be manually applied before you will receive the discount.
- Accident Free – Drivers with accident-free driving histories are rewarded with significantly better rates on Newark auto insurance quote as compared to policyholders that have many claims.
- Full Payment Discount – If you pay your entire premium ahead of time instead of paying each month you can actually save on your bill.
- Passive Restraints and Air Bags – Factory air bags can get savings of 20% or more.
- Student Discounts – Getting good grades can earn a discount of 20% or more. You can use this discount normally until age 25.
- Employee of Federal Government – Federal government employees may reduce rates when you quote Newark auto insurance but check with your company.
- Newark Homeowners Discount – Owning a home in Newark may earn you a small savings because owning a home shows financial diligence.
Just know that most discounts do not apply to the whole policy. Most only reduce the price of certain insurance coverages like liability and collision coverage. Just because it seems like all the discounts add up to a free policy, auto insurance companies aren’t that generous. But any discount will help reduce your auto insurance premiums.
The chart below shows the difference between Toyota Prius insurance costs with and without discounts applied. The premium estimates are based on a male driver, a clean driving record, no at-fault accidents, New Jersey state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, multi-policy, claim-free, safe-driver, and homeowner discounts applied.
A few of the larger companies and the discounts they provide are:
- GEICO has savings for membership and employees, daytime running lights, defensive driver, anti-theft, emergency military deployment, and air bags.
- Travelers offers premium reductions for early quote, save driver, home ownership, student away at school, continuous insurance, multi-policy, and IntelliDrive.
- Nationwide policyholders can earn discounts including good student, Farm Bureau membership, defensive driving, family plan, accident-free, and easy pay.
- Farmers Insurance may include discounts for alternative fuel, pay in full, mature driver, youthful driver, and switch companies.
- Esurance discounts include multi-policy, renters, homeowner, claim free, and Pac-12 alumni.
- State Farm offers discounts including safe vehicle, accident-free, passive restraint, student away at school, good driver, and Drive Safe & Save.
- Progressive offers discounts for homeowner, multi-vehicle, online signing, online quote discount, continuous coverage, and multi-policy.
- Mercury Insurance may have discounts that include annual mileage, multi-car, location of vehicle, multi-policy, and age of vehicle.
When getting a coverage quote, ask each company how many discounts you can get. All car insurance discounts might not be offered in every state. To view auto insurance companies who offer online Toyota Prius insurance quotes in Newark, follow this link.
Insurance agent or online?
A lot of people prefer to talk to a local agent and that is a personal choice. One of the best bonuses of comparing rates online is that drivers can save money and get lower car insurance rates but still work with a licensed agent.
After filling out this form (opens in new window), your information is emailed to participating agents in Newark who will give you bids to get your business. You won’t need to do any legwork since price quotes are sent to you instantly. You can find the lowest rates and work with a local agent. If you wish to get a price quote from a specific auto insurance provider, feel free to navigate to their website and fill out their quote form.
Picking the best insurer is decision based upon more than just the bottom line cost. These are some questions your agent should answer.
- How much training do they have in personal risk management?
- If you raise deductibles, how much can you save?
- Do they write coverage based solely on cost?
- Are they able to influence company decisions when a claim is filed?
- If your car is in the repair shop, do you have coverage for a rental car?
- Does the agency provide any after hours assistance?
- Are they giving you every discount you deserve?
- How long has the business existed?
Exclusive and independent Newark car insurance agents
If you are wanting to find a good Newark insurance agent, you must know there are a couple different types of agencies and how they function. Agents in Newark are considered either exclusive or independent.
Exclusive Insurance Agents
Exclusive insurance agents write business for a single company like Allstate, Farmers Insurance, State Farm, and AAA. These agents are unable to provide rate quotes from other companies so they really need to provide good service. They receive extensive training on their company’s products which can be an advantage. Some insured continue to choose to use a exclusive agent mostly because of loyalty to the company rather than having low rates.
The following are Newark exclusive agents willing to provide price quote information.
- Allstate Insurance: Celia Caro
66 Wilson Ave – Newark, NJ 07105 – (973) 690-6400 – View Map - State Farm: Zanetta Glover
570 Broad St #114 – Newark, NJ 07102 – (973) 648-0699 – View Map - Farmers Insurance – Christine Veliz
229 Bloomfield Ave – Newark, NJ 07104 – (973) 482-1975 – View Map
Independent Auto Insurance Agents
Agents that elect to be independent do not work for one specific company and that gives them the ability to insure with multiple insurance companies depending on which coverage is best. To transfer your coverage to a different company, they simply switch companies in-house and that require little work on your part. When shopping rates, you absolutely need to contact several independent agencies to ensure the widest selection of prices. Most have the option of insuring with small regional insurance companies which may provide better rates.
Listed below are independent agents in Newark that can give you rate quotes.
- Monak Insurance
583 Central Ave – Newark, NJ 07107 – (973) 350-7850 – View Map - Ed Young Agency
942 S Orange Ave – Newark, NJ 07106 – (973) 375-0003 – View Map - Collection Agency BandA
744 Broad St #1903 – Newark, NJ 07102 – (862) 218-0319 – View Map
Insurance coverage basics
Learning about specific coverages of a insurance policy can be of help when determining the best coverages and the correct deductibles and limits. Policy terminology can be impossible to understand and nobody wants to actually read their policy.
Liability auto insurance
Liability coverage protects you from injuries or damage you cause to other people or property that is your fault. It protects you from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 15/30/5 which stand for a limit of $15,000 per injured person, a total of $30,000 of bodily injury coverage per accident, and a limit of $5,000 paid for damaged property.
Liability coverage pays for things like medical services, pain and suffering and repair costs for stationary objects. How much liability should you purchase? That is your choice, but you should buy as high a limit as you can afford. New Jersey state minimum liability requirements are 15/30/5 but it’s recommended drivers buy higher limits.
The illustration below shows why buying minimum limits may not be enough.
Coverage for uninsured or underinsured drivers
This coverage provides protection when other motorists either have no liability insurance or not enough. It can pay for injuries to you and your family and also any damage incurred to your Toyota Prius.
Due to the fact that many New Jersey drivers carry very low liability coverage limits (15/30/5 in New Jersey), it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family.
Comprehensive insurance
Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as hail damage, a tree branch falling on your vehicle, vandalism, fire damage and damage from flooding. The most your insurance company will pay is the actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Coverage for collisions
This coverage pays for damage to your Prius caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers claims such as sustaining damage from a pot hole, colliding with another moving vehicle, hitting a mailbox and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. You can also bump up the deductible on your Prius to get cheaper collision coverage.
Coverage for medical expenses
Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for EMT expenses, dental work and chiropractic care. They are often used in conjunction with a health insurance program or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants and also covers if you are hit as a while walking down the street. PIP is only offered in select states and gives slightly broader coverage than med pay
The best insurance company isn’t always the cheapest
Cost effective Toyota Prius insurance can be bought online in addition to local insurance agencies, and you should compare rates from both so you have a total pricing picture. A few companies do not offer online quoting and usually these regional carriers prefer to sell through independent insurance agents.
Drivers who switch companies do it for many reasons like policy cancellation, an unsatisfactory settlement offer, questionable increases in premium and even being labeled a high risk driver. It doesn’t matter why you want to switch choosing a new insurance company can be pretty painless.
When you buy Newark auto insurance online, don’t be tempted to buy less coverage just to save a little money. In many cases, an insured dropped liability limits or collision coverage only to discover later that they should have had better coverage. The proper strategy is to purchase plenty of coverage at the lowest possible cost, but do not sacrifice coverage to save money.
For more information, feel free to browse the articles below:
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance for Teenage Males in Newark? (FAQ)
- How Much is Auto Insurance for a Chevrolet Equinox in Newark? (FAQ)
- Winter Driving (Insurance Information Institute)
- Drunk Driving Statistics (Insurance Information Institute)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)