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Are you in need of cheap auto insurance in Newark, NJ? At AutoInsuranceEZ.com, you will find the best insurance premiums near you. To find free car insurance quotes available from the very best providers today, type in your local zip code into the quote box on this site.

The city of Newark has done a lot to clean up its image in the decades following the 1967 race riots. Thankfully, much of the effort has paid off; the local economy is surging, especially in the fields of insurance, finance, and also education. Newark has also won awards in recent years for being an “All-American City” and one of the “most livable cities” in the United States.

  • Fun fact: get ready to sign that lease, because Newark is #2 on the list of “Top 100 cities with highest percentage of renters (pop. 50,000+)”. Read and learn more about Newark.

Auto Insurance Coverage Requirements in New Jersey

Driving legally in Newark requires:

Coverage Requirements Most Common
Bodily Injury Liability 15,000/30,000 100,000/300,000
Property Damage Liability 5,000 50,000
Uninsured Motorist Bodily Injury 15,000/30,000 15,000/30,000
Medical Payments Not required 5,000
Collision Not required 500 deductible
Comprehensive Not required 250 deductible

Like many states, New Jersey drivers have to purchase Liability coverage – this means that, should you be at fault in an accident, your insurance company will pay for any damages up to the amount of coverage you purchased. But if the accident is caused by someone else who doesn’t have insurance, or was the result of a hit-and-run, the required Uninsured Motorist coverage will help pay for some of the damages.

According to some statistics, average monthly rates in New Jersey can climb as high as $159 per month; however, Newark motorists can now take advantage of rates as low as $108/mo* or lower! There are many discounts waiting for drivers like you.

Average Monthly Auto Insurance Premiums Legend: Newark Allstate Mercury Cal Casualty State Farm Amica 15 30 45 60 75 90 105 120 135 150 $72 $96 $100 $124 $164

 

Mercury and Allstate are offering some fairly affordable rates in the Newark right now. For the most part, these companies are fairly reputable. But not all New Jersey auto insurance providers have what you need and also offer low rates. Therefore, it’s important to look into these companies before you make a final purchase.

Auto insurance providers contemplate many elements when determining quotes, such as driving experience, zip code, type of vehicle owned, years of driving experience, and multiple cars and drivers. Also keep in mind that premiums differ from company to company. To find out if you are still getting the most affordable price, check cheap Newark auto insurance premiums on the web.

Major Car Insurance Factors in Newark

There is a range of various items that might factor into the rate quotes you receive. Even though many specific issues aren’t actually something you can do something about, some of them are things which you can change for the better. Here are some things which might affect your automobile insurance premium:

  • Your Zip Code

Your auto insurance rates may differ according to the spot where you call home. Generally, large areas feature higher auto insurance rates since the additional amount of drivers on the road boosts the likelihood of an accident! The total population of Newark amounts to 278,427 and the typical family earnings are $32,973.

Auto Insurance by Zip Code Legend: Newark Paterson Elizabeth Edison Jersey City Allstate Mercury Cal Casualty State Farm Amica 15 30 45 60 75 90 105 120 135 150 $72 $71 $72 $51 $72 $96 $96 $93 $64 $78 $100 $99 $96 $68 $86 $124 $124 $124 $86 $109 $164 $164 $163 $102 $144

 

  • Automotive Accidents

As you can see in the chart below, the accident statistics for New Jersey are fairly high. Unfortunately, this usually means that insurance providers in your area are automatically raising rates. Talk to your agent today, and ask about Safe Driver discounts that you might qualify for.

Fatal Accidents in Newark, NJ Legend: Newark Fatal accident count Vehicles involved in fatal crashes Fatal crashes involving drunk persons Fatalities Persons involved in fatal crashes Pedestrians involved in fatal accidents 10 20 30 40 50 60 24 37 7 26 66 10

 

  • Auto Thefts in Newark

Dwelling in a large city (Especially any which has a high rate of crime) increases your chance of becoming a victim for auto theft. In cases where your regular locality features higher rates of claims for theft, you are likely to spend more for car insurance to be able to balance out these costs. The actual complete amount of taken motor vehicles in Newark was 2,894 back in 2013. While the overall number of stolen vehicles has gone down recently, the per capita theft rate is still alarmingly high. This means that it would be a good idea to carry Comprehensive coverage on your policy, just in case you have to make an auto theft claim.

Basic vs. Comprehensive Auto Policy Legend: Basic Coverage Comprehensive Coverage Allstate Mercury Cal Casualty State Farm Amica 30 60 90 120 150 180 210 240 270 $72 $144 $96 $156 $100 $226 $124 $208 $164 $295

 

  • Your Credit Score

Unfortunately, many insurance agencies these days use your credit score to determine how much to charge you for premiums. Automotive insurance is no exception. The better your credit score is, the less you have to worry. But if you have poor credit, you could end up paying twice or even three times as much as someone with a higher credit score.

Auto Insurance by Credit Score Legend: Excellent Credit Poor Credit Allstate Mercury Cal Casualty State Farm Amica 30 60 90 120 150 180 210 240 270 300 $65 $138 $83 $158 $84 $170 $102 $234 $125 $305

 

  • Your Age

Are you trying to insure a teenage driver? The bad news is: it’s going to be expensive, since young drivers lack experience behind the wheel and will likely get into an accident. However, there are ways to relieve this burden. There are “Good Student” and Driver’s Ed discounts available. If you are a parent, you can bundle your child’s policy with yours in hopes of getting even more savings.

Auto Policy Age Comparison Legend: 34 Year Old Male 17 Year Old Male Allstate Mercury Cal Casualty State Farm Amica 100 200 300 400 500 600 700 $72 $236 $96 $755 $100 $255 $124 $402 $164 $528

 

  • Your Driving Record

Having several violations on your record, or having serious violations such as Drunk Driving, will significantly raise your monthly rate. It may make you ineligible to get covered at all depending on the company. But if you only have one or two minor citations in the last few years, look into your provider’s “Accident Forgiveness” policy. Your provider will basically ignore a minor violation when calculating your premiums if you qualify.

Driving Violations Legend: Perfect Record Minor Speeding Ticket DUI/Reckless Driving Major At-Fault Accident Allstate Mercury Cal Casualty State Farm Amica 100 200 300 400 500 600 700 $72 $86 $100 $119 $96 $143 $138 $167 $100 $144 $326 $196 $124 $209 Do Not Sell $469 $164 $224 $708 $164

 

  • Your Vehicle

Luxury vehicles are expensive to insure for many reasons. Not only are they expensive to repair in general, but would you risk carrying Liability coverage only on a car which costs six figures? It’s highly unlikely. The more coverage you have to buy, the more your premiums will cost each month.

Car Insurance by Make/Model Legend: 2015 Honda Accord 2012 Porsche Boxster Spyder Allstate Mercury Cal Casualty State Farm Amica 30 60 90 120 150 180 210 240 270 300 $72 $176 $96 $184 $100 $234 $124 $241 $164 $312

 

Minor Car Insurance Factors in Newark

Some people are unaware of one or more of the factors above. Yet still more drivers aren’t aware of these factors either:

  • Your Marital Status

Married couples can get all sorts of discounts – if they know how to bundle their insurance policies, that is. The most obvious choice is to bundle you and your spouse’s auto policies under the same company. And if that company offers other insurance – such as boating, homeowners, or life insurance – you can bundle those too for further discounts.

  • Your Gender

Worried about being charged more simply because of an uncontrollable factor, such as your gender? Well, don’t worry too much, because most providers these days charge the same rate, regardless of gender. And if you do get charged a higher premium for being male or female, it won’t really change your premium by more than a few dollars per month.

  • Your Driving Distance to Work

Commute times in Newark can be woefully long, ranging between 29-38 minutes each way for the average motorist. Less than 45% of drivers take their own vehicle to work, however; most prefer to carpool (12%) or take the bus (22%).

Some insurers want to make a big deal out of how many miles you drive yearly, or why you’re driving (work/school vs. recreation). But in truth, unless you’re driving a business vehicle (which can see rate hikes as high as 10%) or more, your reason or distance won’t drastically alter your rate.

  • Your Coverage and Deductibles

Do you think you are unlikely to file a claim any time soon? Then talk to your agent about raising your deductible. It’s a great way to lower your monthly premium and save money. But put a little extra aside – just in case you do have to file a claim.

  • Education in Newark, NJ

Over 42% of Newark residents have less than all four years of high school under their belt, while 30% have managed to graduate with a high school diploma or equivalent. However, it should be noted that car insurance companies are increasingly giving lower rates to those drivers who have obtained higher levels of education; so if you’re thinking about going back to school, you could end up saving money in the long run! Believe it or not, these savings are even greater than whatever discounts you may get for your job or for having a high salary.

The largest university in Newark is of course Rutgers, which educates tens of thousands of students each year. The college offers bachelor’s degrees as well as master’s degrees in nursing, business, law, or public administration. The New Jersey Institute of Technology is a public research university which focuses on science and engineering. For a faster degree, you can also look into Essex County College for a vocational or a two-year degree.

Figuring out your individual financial risk can be extremely challenging or unachievable for the typical insurance customer. Insurance providers possess an advantage over customers because of their studies and experiential knowledge. Find out what insurance companies don’t really want you to discover.

How We Conducted Our Car Insurance Analysis

*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.

Sources:

New Jersey Division of Insurance

New Jersey Office of Public Finance

Department of Highway Safety and Motor Vehicles

City-Data.com

Census.gov

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