UPDATED: Mar 13, 2020
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Cheap Car Insurance in Newark, DE
Are you looking for auto insurance in Newark? At AutoInsuranceEZ.com, you can get the very best insurance rates where you live. To receive free car insurance quotes from the top providers today, type your zip code into the quote box on this page.
Newark is much more than your average college town. There is a refreshing amount of parkland to satisfy the average suburban nature lover, and the city is centrally located between Baltimore and Philadelphia. Newark is also famous for its engineering industries and figure skating. Find more info on Delaware auto insurance here.
- Fun fact: Did you know that Newark is #11 on the list of “Top 101 cities with largest percentage of females in occupations: Entertainers and performers, sports, and related workers (population 5,000+)”? Learn more about the city of Newark.
Auto Insurance Coverage Requirements in Delaware
Legal driving in Delaware requires insurance, in the following minimum forms of coverage:
|Bodily Injury Liability||15,000/30,000||100,000/300,000|
|Property Damage Liability||10,000||50,000|
|Uninsured Motorist Bodily Injury||Not required||100,000/300,000|
|Personal Injury Protection||15,000/30,000||15,000/30,000|
|Collision||Not required||500 deductible|
|Comprehensive||Not required||0 deductible|
Keep in mind that just because Comprehensive, Collision, and other forms of coverage aren’t required doesn’t mean you shouldn’t look into them. The extra expense could be worth it in the long run, because it’ll save you from some very expensive repairs!
According to some statistics, average monthly rates in Delaware can climb as high as $132 per month; however, Newark motorists can now take advantage of rates as low as $90/mo* or lower! There are many discounts waiting for drivers like you.
State Farm, National Grange Mutual, and Nationwide are providing some really competitive rates in Newark right now. However, don’t be fooled by a low price. If the company has bad customer service or a difficult claims service, the price could escalate quickly.
Auto insurance providers contemplate many elements when determining insurance quotes, including marital status, occupation, driving distance to work, your years of driving experience, and business use of the vehicle. Additionally, premiums change from carrier to carrier. To find out whether you’re still getting the most affordable rate, compare cheap Newark auto insurance quotes online.
Major Car Insurance Factors in Newark
Insurance companies take numerous elements into account when crafting an auto insurance policy. Unfortunately, many of these factors are difficult or impossible to change, such as your gender or the make/model of your car. Other factors your car insurance company may consider include:
Your Zip Code
Your auto insurance rates may differ depending on where you call home. In general, highly populated cities have higher auto insurance rates because the extra amount of drivers on the road increases the likelihood of an accident! The population of Newark is 32,549 and the median household income is $53,372.
If your zip code tends to have a lower rate of fatal accidents than other areas, insurance companies will likely reward you for living in a safe area with some pretty nice discounts. This is something that Newark motorists get to enjoy, as you can see in the chart below.
Auto Thefts in Newark
Auto theft is a major problem, especially in densely populated cities. If your location and/or vehicle model put you at a greater risk for theft, you may have trouble finding low-cost car insurance. The total number of stolen vehicles in Newark was 14 back in 2013. Because thefts are on the decline in Newark, you might save big each month by asking your insurance agent whether or not Comprehensive coverage is necessary.
Your Credit Score
Auto insurance providers put a lot of stock into your credit score. The better your credit, the lower your rate will be. However, having a poor credit score can significantly raise your rates. As you can see in the chart, some companies will charge you double (or more) than someone with excellent credit.
In the market to insure a teenage driver? Well, we have some bad news, and some good news. The bad news is that teenage drivers are the most expensive drivers to insure (on account of their lack of driving experience and increased accident risk). The good news is that there are discounts specifically for teenagers – such as “Good Student” and Driver’s Ed discounts – which can help alleviate the financial burden.
Your Driving Record
If you can keep a clean driving record, you can secure the lowest possible rate on your automotive insurance policy. Unfortunately, the more violations you add to your record, the more expensive your insurance will become. You may even lose your coverage completely depending on your provider, and the severity of the violations.
If you have the disposable income for a luxury vehicle, make sure that you also possess some luxury insurance to go with it. Because carrying the bare minimum coverage for an expensive vehicle will likely leave you holding the bill in most claim filing situations.
Minor Car Insurance Factors in Newark
These factors can also alter your rate, for better or perhaps worse:
Your Marital Status
Want to know how married couples can save on automobile insurance? By bundling, that’s how. When you and your spouse bundle your policies together, you can get some serious savings. And if you have other forms of insurance – such as homeowners, or renters insurance – you can save even more by bundling those as well.
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
The general commute time for work can last anywhere from 15-18 minutes near the heart of the city, but can climb up to 29 minutes the further out you go. Anywhere from 3-12% carpool regularly, and that percentage gets higher on the municipal outskirts.
Believe it or not, the difference between someone who drives several thousand miles a year for work and a student who lives close to campus rarely differs more than a few percentage points in monthly premiums. The real cost comes from registering your car, truck, or SUV as a business vehicle. Those can cost 10-12% more to insure.
Your Coverage and Deductibles
Most auto insurance providers offer some flexibility when it comes to your policy. For example, you can reduce your monthly payments and increase your coverage by asking to raise your deductible. Yes, it may make repairs or replacements more expensive, but you can save up the extra money with lower payments.
Education in Newark, DE
Did you think a high salary or a fancy job could net you insurance savings? Actually, it’s your education. Newark has a high percentage of drivers with bachelor’s degrees; nearly one-third of motorists have attained this form of higher education. They must be familiar with the fact that insurance companies tend to offer more favorable rates to drivers who have gone beyond a high school education.
Considering how Newark is the home city for the University of Delaware, it shouldn’t be a surprise that so many local drivers own a college degree. One of the main subjects students flock to UD to study is chemical engineering, which is a big industry for the state.
Determining your individual financial risk can be very difficult or impossible for the typical insurance shopper. Insurance companies have an advantage over consumers due to their statistics and experiential knowledge. Learn what insurance companies don’t want you to know.
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.
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