Finding cheaper insurance for a Toyota Camry in New Jersey hinges on an enormous amount of factors such as how many years you have been driving, whether or not you have filed claims in the past, and driving violations. Drivers pay on average $1,296 annually for Camry insurance, but that figure is a projection based on a 50-year-old single male driver with full physical damage coverage and $500 deductibles.
There is a good probability you aren’t exactly 50 years old or even a male, you might be married instead of single, or maybe you have a speeding ticket or two that will increase rates. Just a minor difference in rating variables could end up in a significant change in how much insurance for a Toyota Camry costs.
Each driver’s needs are different, and that demonstrates why the best method for finding cheap insurance prices for your Toyota is to compare as many rates as you can. Compare rate quotes now and you will receive prices from top-rated car insurance companies that insure Toyota vehicles in New Jersey.
The trim level of your Camry will influence the cost of coverage, so the rate you will pay to insure a Camry LE will be $222 less than the insurance cost for the high end Camry Hybrid version, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, multi-policy, and safe-driver. Rates do not factor in vehicle garaging location which can impact price quotes noticeably.
Figuring out which companies quote the lowest-priced insurance rates for a Toyota Camry calls for a tad more effort than just comparing a company or two. Each auto insurance company has a proprietary method to set policy rates, so let’s look at the rankings for the insurance companies with the overall best prices in New Jersey.
It’s a good idea to know that New Jersey insurance rates are influenced by many factors that will increase or decrease your annual premium. Simply turning a year older, increasing deductibles, or getting a driving violation can cause premium changes resulting in some rates now being cheaper in comparison to the competition.
Best Cheap Insurance Rates for Your Camry
|Rank||Company||Cost Per Year|
|3||New Jersey Manufacturers||$1,297|
|Quote Your Rates Go|
21st Century may offer some of the most affordable car insurance rates in Jersey City at around $1,100 per year. Travelers, New Jersey Manufacturers, Palisades, and Penn National would also make the list of some of the cheaper Jersey City, NJ auto insurance companies.
In the above rates, if you are currently insured with Palisades and switched to 21st Century, you might realize an annual premium reduction of in the vicinity of $254. Insureds with Penn National could save as much as $279 a year, and California Casualty customers might cut rates by $381 a year.
Understand that those policy prices are averaged across all drivers and vehicles and and are not figured with an exact vehicle garaging location for a Toyota Camry. So the insurer that can offer you the best price may not even be in the top 19 companies shown above. That illustrates why you need to get rate quotes from many companies using your own personal information and vehicle type.
Impact of violations and accidents on rates
The best way to earn affordable insurance prices in Jersey City for a Camry is to be a careful driver and avoid tickets and accidents. The information below demonstrates how citations and at-fault accidents drive up insurance rates for different categories of driver ages. The data assumes a single male driver, comprehensive and collision coverage, $500 deductibles, and no other discounts are factored in.
The chart shows that the average cost of auto insurance in Jersey City per year with no accidents and a clean driving record is $2,672. Factor in one speeding ticket and the average cost increases to $3,015, an increase of $343 each year. Now get two accidents along with the one speeding ticket and the annual cost of insurance for a Toyota Camry increases to an average of $6,085. That’s an increase of $3,413, or $284 per month, just for not driving attentively!
Get discounts on Jersey City insurance
Car insurance companies that offer quotes for a Toyota Camry may provide rate discounts that could lower prices by as much as 40% or more if you can meet the requirements. Large insurance companies and a summarized list of policyholder discounts are shown below.
- American Family policyholders can earn discounts including multi-vehicle, Steer into Savings, early bird, air bags, good driver, accident-free, and TimeAway discount.
- Farm Bureau may include discounts for good student, 55 and retired, safe driver, multi-vehicle, youthful driver, renewal discount, and driver training.
- State Farm offers discounts for passive restraint, good student, anti-theft, multiple policy, and defensive driving training.
- Travelers has discounts for payment discounts, student away at school, IntelliDrive, multi-car, and new car.
- The Hartford offers premium reductions for anti-theft, driver training, air bag, bundle, defensive driver, vehicle fuel type, and good student.
- GEICO discounts include seat belt use, membership and employees, anti-lock brakes, federal employee, and multi-policy.
- Progressive may have discounts that include multi-policy, good student, online quote discount, continuous coverage, online signing, homeowner, and multi-vehicle.
The illustration below compares auto insurance rates with and without some available policy discounts. The prices are based on a female driver, no claims or driving citations, New Jersey state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows premium with no discounts. The second bar shows the rates with defensive driving course, claim-free, accident-free, marriage, passive restraint, and homeowner discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on insurance for a Toyota Camry is 28% or $753.
The diagram below illustrates how choosing a deductible can affect insurance premiums when searching for cheap insurance for a Toyota Camry. Data assumes a single female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
The data above shows that a 30-year-old driver could reduce rates by $590 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $886 by choosing a $1,000 deductible. Young drivers, such as the 20-year-old chart data, could lower their rates $1,322 annually by choosing a larger deductible amount.
If you make the decision to raise deductibles, it will be required to have enough in a savings account to allow you to cover the extra out-of-pocket expense that is associated with using high deductibles.