Cheap Auto Insurance Quotes for Hybrid Vehicles in New Jersey

You have most likely seen the ads from auto insurance companies like Allstate and Progressive guaranteeing the cheapest price. So you should just pick the company with the best ad, right?

Regrettably, it’s not quite that easy, as there are a whole bunch of unknown aspects such as the amount of physical damage deductibles, if you have ever had a coverage lapse, and if you are a man or woman. We are going to cover the types of situations that result in high rates and will hopefully give you a good start to your coverage search.

One of the key factors used to establish the policy price is where your home is located in New Jersey. Areas with a lot of weather claims or more people like Newark, West New York, and Elizabeth tend to have more expensive auto insurance rates, whereas more rural areas have the benefit of cheaper auto insurance prices.

The illustration below ranks the priciest cities in New Jersey for hybrid vehicles to purchase auto insurance in.

Rate quotes are estimated as the specific geographic location can decrease or increase price quotes considerably.

Comparing quotes for budget insurance is tough enough, and finding out which insurers offer the most affordable insurance rates for hybrid vehicles takes more quotes for comparison.

Every car insurance company has a different formula for determining rates, so we’ll go over the overall cheapest insurance companies in New Jersey. It’s important to know that New Jersey insurance rates are calculated based on many things which can significantly increase or decrease the price you have to pay for coverage. Things like getting older, having a teenage driver, or getting a couple of tickets may cause policy rate changes that may make certain companies more affordable than others.

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21st Century has some of the lowest car insurance rates in New Jersey at around $1,100 each year. Travelers, New Jersey Manufacturers, Palisades, and Penn National also are some of the lowest-priced New Jersey auto insurance companies.

In the rate table above, if you are a customer of New Jersey Manufacturers and switched to 21st Century, you could see an annual savings of roughly $158. Policyholders with Palisades might save as much as $254 a year, and Penn National insureds might reduce prices by as much as $279 a year.

Be aware that those premiums are averaged across all insureds and vehicles and are not factoring in a price discount for hybrid vehicles. So the insurer that is best for you may not even be shown in the list above. That underscores the importance of why you need to compare rates from as many companies as possible using your own specific driver information and vehicle.

The illustration below shows how different deductible levels can increase or decrease insurance premiums when trying to find cheap insurance for hybrid vehicles. The premium estimates are based on a married male driver, comp and collision included, and no additional discounts are factored in.

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The data above shows that a 40-year-old driver could reduce rates by $336 a year by switching from a $100 deductible up to a $500 deductible, or save $508 by choosing a $1,000 deductible. Young drivers, like the 20-year-old category, have the ability to save $1,114 every year by choosing larger deductibles on their policy. When insureds make the decision to increase the deductibles on their policy, it will now be necessary to have additional funds in a savings account to be able to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Best rates: Allstate, Geico, State Farm, or Progressive

When shopping around for auto insurance for hybrids, four companies to definitely compare rates with are Allstate, Geico, State Farm, and Progressive. The next table compares some of the different options offered by each one.

How to find low-cost car insurance for hybrid vehicles

Here are some of the better penny-pinching suggestions that can help New Jersey drivers quote lower-cost coverage.

• Higher physical damage deductibles lower rates
• Being accident-free can lower rates significantly
• Buy a car with high safety ratings
• Drive safely
• Good credit can save money
• Full coverage may not be needed on older vehicles
• Keep rates low by shopping around frequently

The last suggestion is incredibly important, as was affirmed in this piece. Insurance rates in New Jersey can change significantly in a year, so drivers shouldn’t be reluctant to switch companies if you can save money. Staying with the same car insurance company is fine, but it’s not recommended if that stubbornness costs you a wad of cash every year. It only takes a couple minutes to compare rates and find cheaper auto insurance for hybrid vehicles.