Who Has Cheap Car Insurance Rates for a Toyota Corolla in Jersey City?

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Buying cheaper car insurance for a Toyota Corolla in New Jersey is pretty simple for most people to do, but it depends on a complex formula that considers things such as how you use your vehicle, if you have prior claims, and driving citations. New Jersey drivers pay on average $1,778 each year to insure their Corolla, but that price is based on a 30-year-old single male driver with full comprehensive and collision coverage and $100 deductibles.

The issue that arises when projecting rates is that it's very likely that you aren't exactly 30 years old or even a male, possibly married instead of single, or maybe you prefer to not insure for full coverage. Car insurance coverage is unique to each driver, so this is why the only way to find cheap car insurance rates for your Toyota is to put in the effort to do a thorough rate comparison. In less than five minutes you will receive rate quotes from the best auto insurance companies that offer coverage in New Jersey.

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The specific model of Corolla has an effect on the cost of insurance, so the rate you pay to insure a Corolla LE will be $60 less than the price to insure the higher-priced Corolla XRS version, as shown in the chart below.

Toyota Corolla Insurance Rates in Jersey City, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corolla LE $472 $880 $630 $38 $188 $2,208 $184
Corolla S $472 $880 $630 $38 $188 $2,208 $184
Corolla XLE $472 $880 $630 $38 $188 $2,208 $184
Corolla XRS $532 $880 $630 $38 $188 $2,268 $189
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Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Price information does not factor in zip code location which can lower or raise auto insurance rates considerably.

Buying low-cost car insurance is tough enough, and finding out which company quotes the cheapest insurance rates for a Toyota Corolla will require even more diligence. Each company has their own unique process for setting rates, so let's begin by taking a look at the most budget-friendly insurance companies in Jersey City, NJ.

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Cheapest auto insurance in New Jersey ranked by cost per year
Rank Company Cost Per Year
1 21st Century $1,111
2 Travelers $1,145
3 New Jersey Manufacturers $1,310
4 Penn National $1,325
5 Palisades $1,354
6 California Casualty $1,481
7 Allstate $1,493
8 The Hartford $1,536
9 USAA $1,600
10 Mercury $1,651
11 Esurance $1,856
12 Amica $1,869
13 Progressive $1,881
14 MetLife $1,991
15 State Farm $2,182
16 GEICO $2,196
17 Encompass $2,327
18 Liberty Mutual $2,890
19 Hanover $3,869
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21st Century may have some of the most affordable car insurance rates in Jersey City at around $1,111 per year. This is $741 less than the average rate paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades also are some of the cheapest Jersey City, NJ car insurance companies.

As shown in the table above, if you are a policyholder with Penn National and switched to Travelers, you may realize a yearly price reduction of in the vicinity of $180. Customers with Palisades could save as much as $209 a year, and California Casualty customers might lower prices by $336 a year.

It's important to note that these policy prices are averaged for all types of insureds and vehicles and are not factoring in an exact vehicle garaging location for a Toyota Corolla. So the car insurance company that has the lowest price for you may not even be in the top 19 companies in the list above. That helps illustrate why you need to compare as many prices as possible using your own driver information and specific vehicle type.

Cautious Jersey City drivers save money

The easiest method to obtain the cheapest insurance prices in Jersey City for a Corolla is to be a cautious driver and avoid getting tickets or having accidents. The information below shows how violations and fender-benders influence insurance rates for different age groups. Data assumes a single female driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.

In the previous example, the average cost of car insurance in Jersey City per year with no violations or accidents is $3,314. Add in one speeding ticket and the average cost rises to $3,758, an increase of $443 each year. Now include two accidents along with the one speeding ticket and the 12-month cost of insurance for a Toyota Corolla increases to an average of $7,415. That's an increase of $4,101, or $342 per month, just for not keeping your driving record clean!

You may be paying too much for Corolla insurance

New Jersey insurance rates are determined by lots of factors that control the price of your policy. Simply having another birthday, buying a home, or getting a reckless driving citation can trigger changes in premium that may make certain companies cheaper than others.

And not only may your rating factors change, but auto insurance companies change rates as often as every quarter in order to remain profitable. Heavier than normal losses may result in more expensive prices, while profitable underwriting can result in lower-cost Corolla insurance rates.

To illustrate this point, the data below analyzes the cheapest car insurance in Jersey City, NJ for a 30-year-old female driver with no violations or accidents, and great credit. Based on her current risk factors, 21st Century may have the best car insurance rates in Jersey City at $1,423 annually. This is $429 less than the average price paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Palisades, and Penn National are also included in the top five cheapest Jersey City, NJ auto insurance companies.

In this next rate comparison, we will give the driver from the first example a claim, poor credit, and a couple of points charged on her driving record. Since each auto insurance company has their own formula for establishing rates, comparing prices may now present a different ranking of cheap Jersey City auto insurance companies as shown below.

The Hartford now has the best car insurance rate in Jersey City with Allstate, USAA, Mercury, and Travelers also having competitive pricing. This illustrates why it is crucial to compare as many rates as possible to get affordable insurance rates for a Toyota Corolla. Prices are determined by many factors and can change substantially, so the most economical option the last time you compared rates may now be costing you a lot of money.