How to Save on Toyota Sequoia Insurance in Jersey City

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Discount Toyota Sequoia insuranceTo save the most money, the best way to get affordable Toyota Sequoia insurance is to annually compare prices from insurers who sell insurance in Jersey City.

First, get a basic knowledge of how your policy works and the measures you can take to keep rates low. Many factors that drive up the price like at-fault accidents, speeding tickets, and a negative credit history can be remedied by making minor changes to your lifestyle.

Second, get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can provide rates from one company like GEICO and State Farm, while agents who are independent can provide rate quotes for many different companies.

Third, compare the price quotes to your existing rates to see if cheaper Sequoia coverage is available. If you find a lower rate quote, make sure the effective date of the new policy is the same as the expiration date of the old one.

Fourth, provide written notification to your current company of your decision to cancel your current policy. Submit any necessary down payment along with the completed application to your new insurance company. Immediately upon receiving it, put the new certificate verifying coverage above your visor, in the console, or in the glove compartment.

The key thing to know about shopping around is to make sure you're comparing identical coverages on every price quote and to quote with all possible companies. This helps ensure an apples-to-apples comparison and a good representation of prices.

A recent auto insurance study discovered that almost 70% of drivers in New Jersey kept their coverage with the same auto insurance company for more than four years, and nearly half have never even shopped around for cheaper coverage. Consumers in the United States can save up to $860 each year just by comparing rates, but they underestimate the big savings they would realize if they switched.

Buying cheaper insurance in Jersey City is not as confusing as people think. If you already have coverage or want to find a cheaper company, you can use these techniques to find the best rates while maximizing coverage. Smart shoppers just have to learn the most effective way to compare insurance rates instantly.

Finding low cost insurance rates is surprisingly easy. Drivers just need to spend a few minutes getting comparison quotes provided by online insurance companies.

Comparing free quotes online is easy and it, replaces the need to actually drive to all the different insurance agencies. Comparing online rate quotes makes this unnecessary unless you want the personal advice of a local agency. Some companies do allow you to get the lowest quotes online but buy from a local insurance agent.

The companies in the list below are our best choices to provide comparison quotes in Jersey City, NJ. In order to find the best auto insurance in Jersey City, it's a good idea that you visit several of them to find the most affordable auto insurance rates.

Earn discounts on Jersey City car insurance

Auto insurance companies don't always advertise all possible discounts very well, so the following list contains a few of the more well known and also the lesser-known discounts that you can inquire about if you buy Jersey City auto insurance online.Cheaper car insurance with discounts

  • Theft Deterrent System - Cars equipped with anti-theft or alarm systems prevent vehicle theft and that can save you a little bit as well.
  • Discounts for Safe Drivers - Drivers who avoid accidents could pay up to 40% less than drivers with accident claims.
  • Renewal Discounts - A few insurance companies allow discounts for switching to them prior to the expiration date on your current Sequoia insurance policy. You could save around 10% when you buy Jersey City auto insurance online.
  • Full Payment Discount - If you can afford to pay the entire bill rather than paying monthly you could save up to 5%.
  • College Student Discount - Any of your kids who are enrolled in higher education away from home and do not have access to a covered vehicle could get you a discount.
  • Passenger Safety Discount - Vehicles equipped with air bags or motorized seat belts can get savings of up to 25% or more.

Consumers should know that many deductions do not apply to your bottom line cost. Most only apply to the cost of specific coverages such as liability and collision coverage. Despite the fact that it seems like you could get a free car insurance policy, companies don't profit that way.

The chart below shows the comparison of Toyota Sequoia insurance costs with and without discounts being applied to the rates. The data assumes a male driver, no tickets, no at-fault accidents, New Jersey state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, marriage, homeowner, multi-policy, and claim-free discounts applied.

A few of the larger companies and their possible discounts are included below.

  • GEICO offers discounts for membership and employees, multi-vehicle, seat belt use, driver training, good student, and anti-lock brakes.
  • MetLife includes discounts for multi-policy, claim-free, accident-free, good driver, and defensive driver.
  • Progressive may include discounts for online quote discount, continuous coverage, online signing, homeowner, and multi-vehicle.
  • Travelers policyholders can earn discounts including multi-car, home ownership, hybrid/electric vehicle, good student, IntelliDrive, payment discounts, and multi-policy.
  • SAFECO may have discounts that include safe driver, anti-lock brakes, multi-car, teen safe driver, homeowner, anti-theft, and bundle discounts.
  • AAA offers premium reductions for education and occupation, AAA membership discount, anti-theft, good driver, and good student.

Before buying, ask all the companies which discounts you may be entitled to. Some of the discounts discussed earlier may not apply to policies in Jersey City.

Toyota Sequoia insurance analysis

The premium table displayed next showcases a range of insurance rates for Toyota Sequoia models. Learning how rates are formulated is important for making informed decisions when shopping around for a new policy.

Toyota Sequoia Insurance Rates in Jersey City, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sequoia SR/5 2WD $222 $406 $544 $32 $162 $1,366 $114
Sequoia SR/5 4WD $222 $478 $544 $32 $162 $1,438 $120
Sequoia Limited 2WD $248 $478 $544 $32 $162 $1,464 $122
Sequoia Limited 4WD $248 $478 $544 $32 $162 $1,464 $122
Sequoia Platinum 2WD $248 $550 $544 $32 $162 $1,536 $128
Sequoia Platinum 4WD $248 $550 $544 $32 $162 $1,536 $128
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Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Table data does not factor in specific location which can alter insurance rates noticeably.

Physical damage deductible comparison

When buying auto insurance, a common question is how high should your deductibles be. The following insurance rates can help show the cost difference between high and low policy deductibles. The first rate quote example uses a $250 deductible for comp and collision and the second rate chart uses a $500 deductible.

Toyota Sequoia insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sequoia SR/5 2WD $420 $626 $480 $28 $144 $1,723 $144
Sequoia SR/5 4WD $420 $738 $480 $28 $144 $1,835 $153
Sequoia Limited 2WD $466 $738 $480 $28 $144 $1,881 $157
Sequoia Limited 4WD $466 $738 $480 $28 $144 $1,881 $157
Sequoia Platinum 2WD $466 $848 $480 $28 $144 $1,991 $166
Sequoia Platinum 4WD $466 $848 $480 $28 $144 $1,991 $166
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Toyota Sequoia insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sequoia SR/5 2WD $340 $504 $480 $28 $144 $1,496 $125
Sequoia SR/5 4WD $340 $594 $480 $28 $144 $1,586 $132
Sequoia Limited 2WD $380 $594 $480 $28 $144 $1,626 $136
Sequoia Limited 4WD $380 $594 $480 $28 $144 $1,626 $136
Sequoia Platinum 2WD $380 $684 $480 $28 $144 $1,716 $143
Sequoia Platinum 4WD $380 $684 $480 $28 $144 $1,716 $143
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Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Price estimates do not factor in the specific area where the vehicle is garaged which can change rates substantially.

We can estimate from the data above that using a $250 deductible could cost the average driver approximately $21 more each month or $252 every year than selecting the higher $500 deductible. Due to the fact that you would have to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you normally average at a minimum 12 months between claims, you would save money if you choose the higher deductible.

The diagram below illustrates how your deductible choice and can increase or decrease Toyota Sequoia premium costs for different age groups. The rates are based on a single female driver, comprehensive and collision coverage, and no other discounts are factored in.

Poor driving habits will raise your auto insurance rates

The example below shows how traffic citations and fender-benders raise Toyota Sequoia insurance prices for different age groups. The price estimates are based on a single male driver, full physical damage coverage, $100 deductibles, and no other discounts are factored in.

Difference between liability only and full coverage rates

The diagram below compares Toyota Sequoia auto insurance costs with and without physical damage coverage. The prices are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are not married, and no discounts are taken into consideration.

When to drop comprehensive and collision coverage

There is no specific rule of when to drop physical damage coverage, but there is a general school of thought. If the yearly cost of full coverage is more than 10% of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.

For example, let's say your Toyota Sequoia book value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $2,000 after you pay the deductible. If premium cost is more than $200 annually for your policy with full coverage, then it may be the right time to buy liability only.

There are some conditions where only buying liability is not financially feasible. If you haven't paid off your loan, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not opt for liability only.

Insurance Premium Influencing Factors

Lots of factors are used when you get a price on insurance. Some of the criteria are obvious like a motor vehicle report, but other criteria are more obscure such as your marital status or your commute time. One of the most helpful ways to save on car insurance is to to have a grasp of the rating factors that help calculate the price you pay for car insurance. If you know what influences your rates, this allows you to make educated decisions that may reward you with lower rates.

Low credit history equals high premiums - Having a good credit score factor in determining what you pay. Insureds with very good credit scores tend to be more responsible and file fewer claims as compared to drivers with lower ratings. Therefore, if your credit can use some improvement, you could pay less to insure your Toyota Sequoia by taking the time to improve your credit score.

Lower performance equals lower insurance rates - The performance of the vehicle you are buying insurance for makes a substantial difference in determining your rates. The lowest performance passenger cars usually have the lowest rates, but that's not the only thing that factors into the final price.

The following chart uses these assumptions: single female driver age 30, full coverage with $500 deductibles, and no discounts or violations. It compares Toyota Sequoia insurance rates compared to other models of vehicles that have different performance rating factors.

Rural vs Urban Areas - Having an address in less populated areas of the country is a good thing when it comes to car insurance. Residents of big cities have to deal with traffic congestion and longer commutes to work. Fewer drivers and short commutes translates into fewer accident claims and a lower car theft rate.

Safety first - Cars with five star safety ratings can get you lower premiums. Vehicles built for safety result in less severe injuries and reduced instances of injuries means your insurance company pays less and thus lower rates.

Insurance loss data for a Toyota Sequoia - Insurers factor in historical loss data when they calculate premium prices for each model. Models that statistically have increased losses will be charged more to insure.

The table below demonstrates the collected loss data for Toyota Sequoia vehicles. For each coverage type, the loss probability for all vehicles compiled together is a value of 100. Percentage values below 100 indicate a favorable loss history, while values over 100 point to more losses or statistically larger losses.

Insurance Loss Ratings for Toyota Sequoia Vehicles
Specific Toyota Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Toyota Sequoia 4dr 2WD 70 103 80 57
Toyota Sequoia 4dr 4WD 82 115 96 57 50 77
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years