Who Has Affordable Newark Car Insurance Rates for Seniors?

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The words "low-cost" and "insurance" probably shouldn't be used in the same sentence, specifically when searching for the best car insurance for seniors. Let's familiarize you with a few of the things that determine car insurance premiums, and see if we can help you reduce the price of your next policy.

Buying cost effective insurance is confusing at best, and finding out which company offers the most affordable insurance rates for seniors will involve more quotes for comparison. Each insurer has their own process for determining rates in each state, so let's begin by taking a look at the insurance companies with the overall best prices in Newark.

Cheapest Insurance Rates for Mature Drivers

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Cheapest New Jersey car insurance ranked by price
Rank Company Cost Per Year
1 21st Century $1,111
2 Travelers $1,156
3 New Jersey Manufacturers $1,297
4 Penn National $1,338
5 Palisades $1,382
6 The Hartford $1,476
7 California Casualty $1,481
8 Allstate $1,493
9 USAA $1,600
10 Mercury $1,603
11 Amica $1,832
12 Esurance $1,856
13 Progressive $1,919
14 MetLife $1,991
15 GEICO $2,174
16 State Farm $2,226
17 Encompass $2,374
18 Liberty Mutual $3,008
19 Hanover $3,869
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21st Century normally has some of the best car insurance rates in Newark at around $1,111 annually. Travelers, New Jersey Manufacturers, Penn National, and Palisades also qualify as some of the best Newark, NJ car insurance companies.

As shown in the table above, if you currently have coverage with New Jersey Manufacturers and switched to 21st Century, you could see an annual premium reduction of roughly $186. Policyholders with Penn National might save as much as $227 a year, and Palisades policyholders might lower prices by up to $271 a year.

It's important to note that these policy rates are averages across all ages of drivers and types of vehicles and and are not figured with an exact zip code location for seniors. So the insurer that has the cheapest rates for you may not even be in the list above. That underscores the importance of why you need to quote rates from many companies using your own personal information and vehicle type.

For senior citizens, one of the largest factors that determine insurance cost is where you keep your vehicle in Newark. Areas with a lot of weather claims or more people likely pay more, whereas areas with less congestion have the enjoyment of a little cheaper coverage.

The illustration below rates the highest-priced areas in New Jersey for seniors to buy auto insurance in. Newark is ranked #1 costing $2,598 for coverage, which is about $217 each month.

How much does car insurance cost in Newark, NJ?
Rank City Premium Per Year
1 Newark $2,598
2 East Orange $2,571
3 West New York $2,531
4 Elizabeth $2,446
5 Paterson $2,400
6 Union City $2,354
7 Clifton $2,345
8 Passaic $2,325
9 Kearny $2,289
10 Hoboken $2,283
11 Jersey City $2,253
12 Linden $2,185
13 Bayonne $2,184
14 Camden $2,155
15 Perth Amboy $2,102
16 Fort Lee $2,081
17 Atlantic City $2,024
18 Hackensack $1,980
19 Plainfield $1,956
20 New Brunswick $1,932
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Rate information is approximated as the specific zip code location can modify coverage rates significantly.

The vehicle model requiring insurance is a large factor that determines whether or not you can buy cheap auto insurance for seniors. Vehicles with high performance, poor passenger safety features, or an increased likelihood of liability claims will cost more to insure than more modest models. The data below ranks auto insurance premiums for a number of the most economical vehicles to insure in New Jersey.

Cheapest Vehicles to Insure in Newark, NJ
Make and Model Estimated Cost for Full Coverage
Ford Escape XLT 2WD $1,464
Honda CR-V EX-L 2WD $1,497
Honda Accord EX-L 4-Dr Sedan $1,586
Toyota Prius $1,619
Ford Explorer XLT 4WD $1,637
Dodge Grand Caravan CV $1,643
Chevrolet Impala LS $1,694
Ford Focus SE 4-Dr Sedan $1,699
Honda Odyssey EX $1,694
Toyota RAV4 Sport 4WD $1,727
Jeep Grand Cherokee Laredo 2WD $1,732
Ford F-150 FX4 4WD $1,759
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $1,769
Chevrolet Malibu LT $1,759
Jeep Wrangler Unlimited Sport 4WD 4-Dr $1,783
Honda Civic LX-S 4-Dr Sedan $1,786
Ford Edge Limited AWD $1,819
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Prices based on married male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Rate quotes do not factor in specific garaging location which can influence premium rates substantially.

By looking at the data, cars like the Ford Escape, Honda CR-V, Honda Accord, Toyota Prius, and Ford Explorer are most likely going to be the most economical vehicles to insure for senior citizens.

Discounts on Newark auto insurance rates

Insurance for senior citizens in Newark, NJCar insurance companies that offer quotes for seniors may have premium discounts that could reduce prices by as much as 40% or more if you meet specific eligibility requirements. A few of the larger companies and some of the discounts are outlined below.

The illustration below visualizes the comparison of auto insurance costs with and without discounts applied to the premium. The price estimates are based on a male driver, no driving violations, no at-fault accidents, New Jersey state minimum liability limits, full physical damage coverage, and $250 deductibles.

The first bar for each age group shows the average annual price with no discounts. The second shows the rates with defensive driving course, vehicle safety, marriage, claim-free, accident-free, and homeowner discounts applied. When drivers qualify for the discounts, theaverage amount saved on insurance for seniors is 30% or $746.

The diagram below demonstrates how deductibles can impact insurance costs when researching cheap insurance for seniors. The rate quotes are based on a married male driver, full coverage, and no policy discounts are applied.

In the chart above, a 50-year-old driver could pocket $452 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $680 by switching to a $1,000 deductible. Even younger drivers, like the Age 20 chart data, can cut up to $1,520 or even more just by choosing higher deductibles.

When raising deductibles, it will be important to have enough savings set aside to be able to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Insuring your vehicle with the best company is difficult considering how many different companies there are to choose from in Newark. The company information in the lists below can help you pick which companies to look at putting your business with.

The rankings below are for companies with a national presence, so companies with more of a regional focus will not be included in this list. To compare rates from these top-rated insurers and more, just click here.

Best Insurance Companies for Seniors in Newark
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Mercury Insurance 87 96 100 87% A+ 93.4
The Hartford 88 96 91 93% A+ 92.6
Progressive 84 94 99 90% A+ 92.4
Travelers 84 93 100 87% A++ 92.3
State Farm 84 93 95 87% A++ 91
Farmers Insurance 87 92 90 85% A 90.6
Safeco Insurance 85 91 87 86% A 88.4
USAA 71 93 98 87% A++ 88
GEICO 73 93 95 85% A++ 87.1
21st Century 85 85 91 89% A 86.9
Liberty Mutual 72 91 97 83% A 86.4
AAA Insurance 85 85 88 86% A 85.8
Nationwide 71 90 93 83% A+ 84.9
Allstate 69 92 92 83% A+ 84.4
American Family 77 96 80 85% A 83.8
Esurance 70 80 89 77% A+ 79.2
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Data Source: Insure.com Best Car Insurance Companies