Who Has the Cheapest Auto Insurance for Teenage Males in Newark?

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For teen boys, one of the big factors that aid in calculating the price you pay for insurance is where you normally keep your vehicle in Newark. Cities with larger populations or higher claim trends tend to have more expensive auto insurance rates, whereas areas with less crime or weather claims benefit from having to pay less for coverage.

The information below lists the most costly cities in New Jersey for teenage males to buy auto insurance in. Newark comes in at #1 with an annual cost of $2,522 on average, which is about $210 per month.

How much does car insurance cost in Newark, NJ?
Rank City Annual Rate
1 Newark $2,522
2 East Orange $2,521
3 Elizabeth $2,470
4 Union City $2,450
5 West New York $2,431
6 Hoboken $2,377
7 Paterson $2,376
8 Kearny $2,335
9 Jersey City $2,322
10 Passaic $2,301
11 Clifton $2,276
12 Bayonne $2,274
13 Camden $2,221
14 Linden $2,163
15 Atlantic City $2,106
16 Perth Amboy $2,102
17 Fort Lee $2,060
18 Hackensack $1,980
19 New Brunswick $1,932
20 Plainfield $1,898
21 Trenton $1,896
22 Sayreville $1,882
23 Lakewood $1,855
24 Vineland $1,842
25 Toms River $1,674
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Premium costs are comparative as specific location information can modify insurance rates substantially.

Determining which company offers the best car insurance rates for teenage males will take a little more work than just picking a company at random. Every insurance company has a unique formula for determining prices, so let's take a look at the most competitive car insurance companies in Newark, NJ.

We do need to point out that New Jersey car insurance rates are calculated based on many things that can increase the price you have to pay for coverage. Turning one year older, marrying your spouse, or getting into an accident can produce rate changes that can cause some rates to be more affordable than the competition.

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21st Century may have some of the most affordable car insurance rates in Newark at around $1,100 annually. This is $752 less than the average premium paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades would also make the list of some of the best Newark, NJ car insurance companies.

As the rates illustrate above, if you are currently insured with Penn National and switched to 21st Century, you might realize a yearly savings of roughly $225. New Jersey drivers with Palisades might save as much as $282 a year, and California Casualty insureds might lower prices by $395 a year.

These premiums are averaged for all types of drivers and the different vehicles they drive and do not take into consideration a specific zip code for teenage males. So the auto insurance company that has the cheapest rates for you may not even be in the top 19 companies shown above. That is why you need to compare rates from as many companies as possible using your own specific driver information and vehicle.

The illustration below illustrates how your choice of deductibles can raise or lower insurance rates when researching cheap insurance for teenage males. The information is based on a single male driver, comp and collision included, and no discounts are applied to the premium.

The data above shows that a 50-year-old driver could cut expenses by $396 a year by increasing from a $100 deductible up to a $500 deductible, or save $594 by using a $1,000 deductible. Even younger insureds, such as the Age 20 example, could potentially save $1,296 or even more just by using higher deductibles.

If you do decide to increase your deductibles, it is important to have plenty of money set aside to satisfy the extra out-of-pocket expense, which deters some people from using high deductibles.

Difference between full coverage and liability only rates

Finding the cheapest car insurance is the goal of most people, and one way to buy cheap insurance for teenage males is to not insure for full coverage. The example below shows the difference between auto insurance costs with and without full coverage. The prices are based on no claims or driving citations, $100 deductibles, marital status is single, and no policy discounts are applied.

If we average the cost for ages 20 through 70, full coverage costs $2,745 per year over and above liability coverage. That is a significant amount which raises the question if buying full coverage is worth the money. There is no set rule to delete comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is 10% or more of replacement cost minus your deductible, then you might want to consider buying only liability coverage.

For example, let's pretend your vehicle's claim settlement value is $10,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company will settle for is $9,500 after you pay the deductible. If you are currently paying more than $950 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.

There are some situations where dropping physical damage coverage is not in your best interest. If you still have a lienholder on your title, you are required to maintain full coverage as part of the loan requirements. Also, if you don't have enough money to buy a different vehicle if your current one is in an accident, you should maintain full coverage.

Are you paying too much for car insurance in Newark?

Newark car insurance rates are determined by lots of factors that can increase the cost of your policy. Simply turning a year older, buying a home, or getting a ticket for running a stop sign may cause policy rate changes that can cause some rates to be more affordable than competitors.

Also, insurers change prices every year in order to maintain liquidity for claims. An extended period of higher than normal claims may result in rate hikes, while a profitable period can result in lower-cost Newark car insurance rates.

To illustrate this example, the data below analyzes the cheapest car insurance in Newark, NJ for a 30-year-old female driver with no violations or accidents, and a high credit rating. If we estimate prices based on her personal profile, 21st Century quotes the cheapest car insurance rates in Newark at $1,656 a year. This is $196 less than the average price paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades are also included in the best Newark, NJ auto insurance companies.

In this example, we will give the driver from above a claim, a lower credit rating, and a traffic ticket or two. Since each company uses a different method for determining prices, analyzing rates most likely will result in a slightly different list of companies as shown below.

Allstate now has the best auto insurance rate in Newark with The Hartford, USAA, Mercury, and Travelers now being in the top five. This shows why it is important to compare rates when trying to find cheap insurance quotes for teenage males.

Car insurance prices are determined by many different factors and can decrease or increase without notice, so the most affordable company the last time you shopped around may now be wasting a lot of money.

The insurance agencies below can answer your questions and help you decide which coverages are best, since some drivers have questions and prefer to get help from a professional when shopping for the best coverage for teen boys. It can be hard to find the best coverage yourself, so a licensed agent can give peace of mind knowing your coverage gives you adequate protection in the event of a claim.

To locate a Newark insurance agent close to you, click the button after the list or click here to compare price quotes.

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How to find the cheapest car insurance for teenage males

It is possible to find better rates, and here are some of the recommended penny-pinching suggestions that can help New Jersey drivers locate cheap auto insurance.

The last item on the list is remarkably important, as was emphasized in this write-up. Prices charged by companies can be modified anytime, so don't be tentative to switch companies if a cheaper rate is available. We understand brand loyalty, but it isn't a good idea if that devotion results in you overpaying thousands of dollars over the life of your policy. If you have a few minutes, shop around and find cheaper insurance for teenage males in Newark.