Comparing quotes for budget auto insurance is not easy, and figuring out which companies have the cheapest auto insurance rates for real estate agents will take even more rate comparisons.
Each company uses their own formula for filing rates in each state, so let’s take a look at the auto insurance companies with the most affordable rates in Newark.
Compare Cheap Insurance Quotes for Realtors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | 21st Century | $1,100 |
| 2 | Travelers | $1,145 |
| 3 | New Jersey Manufacturers | $1,310 |
| 4 | Penn National | $1,325 |
| 5 | Palisades | $1,382 |
| 6 | The Hartford | $1,476 |
| 7 | California Casualty | $1,495 |
| 8 | Allstate | $1,523 |
| 9 | USAA | $1,553 |
| 10 | Mercury | $1,635 |
| 11 | Amica | $1,887 |
| 12 | Esurance | $1,913 |
| 13 | Progressive | $1,938 |
| 14 | MetLife | $1,951 |
| 15 | GEICO | $2,174 |
| 16 | State Farm | $2,182 |
| 17 | Encompass | $2,327 |
| 18 | Liberty Mutual | $3,008 |
| 19 | Hanover | $3,909 |
| Quote Your Rates Go | ||
21st Century may have some of the best car insurance rates in Newark at around $1,100 each year. Travelers, New Jersey Manufacturers, Penn National, and Palisades would also make the list of some of the lowest-priced Newark, NJ car insurance companies.
In this example, if you have coverage with Penn National and switched to Travelers, you might see annual savings of in the neighborhood of $180. New Jersey drivers with Palisades might save as much as $237 a year, and The Hartford policyholders might lower prices by $331 a year.
These premiums are averages across all types of drivers and the different vehicles they drive and and are not calculated with a specific zip code for real estate agents. So the insurer that is best suited for you may not even be in the list above. That emphasizes why you need to get rate quotes from many companies using your own personalized driver profile and vehicle information.
One of the more important things that help determine car insurance rates is where you normally keep your vehicle in Newark. Cities with more crime and/or more people are more likely to pay higher prices, whereas areas with lower vehicle theft rates and fewer weather claims can boast about having cheaper rates.
The information below ranks the most expensive places in New Jersey for real estate agents to buy auto insurance in. Newark is ranked at #1 with an annual rate of $2,598 for car insurance, which is about $217 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Newark | $2,598 |
| 2 | East Orange | $2,597 |
| 3 | West New York | $2,531 |
| 4 | Paterson | $2,472 |
| 5 | Elizabeth | $2,398 |
| 6 | Hoboken | $2,377 |
| 7 | Union City | $2,354 |
| 8 | Passaic | $2,325 |
| 9 | Clifton | $2,299 |
| 10 | Kearny | $2,266 |
| 11 | Jersey City | $2,253 |
| 12 | Bayonne | $2,251 |
| 13 | Linden | $2,185 |
| 14 | Camden | $2,155 |
| 15 | Fort Lee | $2,144 |
| 16 | Perth Amboy | $2,102 |
| 17 | Atlantic City | $2,024 |
| 18 | Hackensack | $1,940 |
| 19 | New Brunswick | $1,913 |
| 20 | Plainfield | $1,898 |
| Compare Rates Now Go | ||
Premium amounts are comparative as zip code location can influence coverage rates noticeably.
The make and model of vehicle on the policy is probably the largest consideration when looking for the most economical car insurance for real estate agents. Vehicles with lots of horsepower, poor crash test ratings, or a history of substantial liability claims will cost substantially more to insure than more modest models. The next table showcases coverage costs for some of the most cost-effective vehicles to insure.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 4WD | $1,760 |
| Ford F-150 XL Regular Cab 4WD | $1,977 |
| Toyota Tacoma 2WD | $2,046 |
| Toyota RAV4 Limited 2WD | $2,085 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $2,118 |
| Ford Explorer Limited 2WD | $2,127 |
| Hyundai Elantra GLS Touring Station Wagon | $2,157 |
| Honda CR-V LX 2WD | $2,166 |
| Toyota Prius | $2,230 |
| Chevrolet Silverado LT Regular Cab 2WD | $2,233 |
| Chevrolet Malibu LTZ | $2,236 |
| Chevrolet Equinox LTZ 2WD | $2,241 |
| GMC Sierra 3500HD SLE Extended Cab 2WD | $2,275 |
| Compare Rates Now Go | |
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Rate quotes do not factor in vehicle location which can increase or decrease premium rates considerably.
Looking at the rates, vehicles like the Ford Escape, Ford F-150, Toyota Tacoma, and Toyota RAV4 are most likely to be the less-costly vehicles to insure for realtors.
Get discounts on Newark auto insurance rates
Car insurance companies that provide coverage for real estate agents may provide premium discounts that could potentially reduce rates by as much as 35% if you are eligible for them. Larger auto insurance companies and their offered discounts include:
- State Farm offers discounts for passive restraint, safe vehicle, accident-free, good driver, and anti-theft.
- Farmers Insurance has discounts for alternative fuel, pay in full, good student, homeowner, electronic funds transfer, multi-car, and youthful driver.
- GEICO discounts include multi-policy, seat belt use, air bags, emergency military deployment, and defensive driver.
- American Family may have discounts that include accident-free, TimeAway discount, defensive driver, good student, Steer into Savings, and early bird.
- Nationwide includes discounts for accident-free, anti-theft, business or organization, good student, easy pay, multi-policy, and family plan.
- Progressive offers premium reductions for continuous coverage, multi-policy, online signing, homeowner, and online quote discount.
The chart below visualizes the comparison of car insurance rates with and without discounts applied to the policy premium. Data assumes a male driver, no tickets, no at-fault accidents, New Jersey state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with safe-driver, defensive driving course, vehicle safety, accident-free, multiple vehicle, and passive restraint discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on auto insurance for real estate agents is 28% or $844.
Reckless driving habits raise Newark auto insurance rates
The easiest method to earn cheap auto insurance rates in Newark for realtors is to pay attention while driving and avoid accidents and violations. The chart below illustrates how traffic citations and accident claims can impact annual premium costs for different age groups. The rates are based on a married female driver, full coverage, $1,000 deductibles, and no discounts are applied to the premium.
In the chart above, the average cost of a car insurance policy in Newark per year with no accidents and a clean driving record is $2,045. Receive two speeding tickets and the average cost hikes up to $2,898, an increase of $853 each year. Then add two accidents along with the two speeding tickets and the annual cost of auto insurance for real estate agents increases to an average of $6,488. That’s an increase of $4,443, or $370 per month, just for not keeping your driving record clean!
Best auto insurance in Newark
Buying coverage from a good quality insurance company can be difficult considering how many different companies sell coverage in Newark. The ranking data in the lists below could help you pick which car insurance providers you want to consider buying from. The rankings below include companies with a national presence, so companies with more of a regional focus will not be included in these rankings.
Top 10 Major Car Insurance Companies in Newark Ranked by A.M. Best Rating
- GEICO – A++
- Travelers – A++
- State Farm – A++
- USAA – A++
- Allstate – A+
- Nationwide – A+
- Mercury Insurance – A+
- Progressive – A+
- The Hartford – A+
- Esurance – A+
Top 10 Major Car Insurance Companies in Newark Ranked by Claims Service
- Progressive
- USAA
- Liberty Mutual
- GEICO
- State Farm
- Nationwide
- Allstate
- 21st Century
- The Hartford
- Farmers Insurance
How to find budget-friendly car insurance for real estate agents
Here are many thrifty suggestions that can help Newark drivers quote lower-cost coverage.
- Prevent rate increases by staying accident-free
- Pay lower rates with good credit
- Buy vehicles with five-star safety ratings
- Increase deductibles to save money
- If your vehicles are older, consider dropping full coverage
- Do not get tickets
- Shop around and save
The last tip is remarkably valuable, as was stressed in the article above. Car insurance rates go up and down frequently, so don’t be afraid to switch to a new company if a better deal can be had.
Being loyal to a particular company is commendable, but it’s not a great idea if your bullheadedness ends up costing you a small fortune year after year. It takes less than five minutes to compare rates to find cheaper auto insurance for real estate agents in Newark.