Who Has the Cheapest Newark Car Insurance Rates for Drivers with Good Credit?

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The car, truck, or SUV you are insuring is a large consideration when comparing cheap auto insurance for drivers with good credit. Vehicles with limited speed and performance, modern passenger safety features, or a low likelihood of liability claims will cost substantially less to insure than high performance models. The next table showcases auto insurance premiums for some of the most budget-friendly vehicles to insure in New Jersey.

Cheapest Vehicles to Insure in Newark, NJ
Vehicle Estimated Cost for Full Coverage
Honda Accord EX-L 4-Dr Sedan $1,900
Ford F-150 XLT Super Cab 2WD $1,962
Ford Explorer XLT 4WD $1,970
Ford Escape XLS 2WD $1,974
Honda CR-V EX-L 2WD $2,028
Chevrolet Equinox LS AWD $2,073
GMC Sierra SLE Regular Cab 2WD $2,081
Dodge Grand Caravan Hero $2,073
Toyota Prius $2,132
Toyota Tacoma 4WD $2,147
Honda Civic LX 4-Dr Sedan $2,155
Hyundai Elantra SE 4-Dr Sedan $2,186
Toyota Corolla LE $2,195
Ford Edge SEL AWD $2,228
GMC Sierra 3500HD SLE Crew Cab 2WD $2,266
Chevrolet Silverado LT Extended Cab 4WD $2,272
Jeep Grand Cherokee Laredo 2WD $2,278
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Above prices assume single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Estimates do not factor in specific Newark, NJ garaging location which can influence prices significantly.

Looking at the numbers, vehicles like the Honda Accord, Ford F-150, Ford Explorer, Ford Escape, and Honda CR-V are most likely to be some of the most budget-friendly vehicles to insure for financially responsible drivers.

For financially responsible drivers, one of the largest considerations that aid in calculating the annual cost of car insurance is where you keep your vehicle in Newark. Cities with larger populations or higher claim trends tend to have higher auto insurance costs, whereas more rural areas can boast about having cheaper rates.

The illustration below shows the highest-priced places in New Jersey for drivers with good credit to purchase car insurance in. Newark shows up at #1 with the yearly price of $2,572 on average, which is about $214 each month.

How much is car insurance in Newark?
Rank City Annual Rate
1 Newark $2,572
2 East Orange $2,571
3 West New York $2,431
4 Paterson $2,400
5 Union City $2,378
6 Elizabeth $2,374
7 Hoboken $2,353
8 Jersey City $2,345
9 Passaic $2,325
10 Clifton $2,276
11 Kearny $2,266
12 Bayonne $2,207
13 Linden $2,185
14 Camden $2,133
15 Perth Amboy $2,102
16 Atlantic City $2,086
17 Fort Lee $2,081
18 Hackensack $1,980
19 Trenton $1,916
20 Plainfield $1,898
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Rates are approximated as the specific zip code location can impact rates considerably.

Deciphering which companies offer the lowest-priced insurance rates for drivers with good credit requires a little more sweat in order to find the best price.

Each insurer has a different process for filing rates in each state, so let's examine the insurance companies that tend to be cheaper in New Jersey. It's important to know that Newark insurance rates are calculated based on many things which can substantially change the cost of a policy. Simply having another birthday, buying a home instead of renting, or getting a ticket for running a stop sign can trigger rate changes resulting in some rates now being much cheaper than others.

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Cheapest auto insurance in New Jersey ranked by cost per year
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 California Casualty $1,495
7 The Hartford $1,536
8 Allstate $1,538
9 USAA $1,585
10 Mercury $1,651
11 Amica $1,869
12 Progressive $1,881
13 Esurance $1,894
14 MetLife $1,932
15 State Farm $2,182
16 GEICO $2,262
17 Encompass $2,397
18 Liberty Mutual $2,920
19 Hanover $3,987
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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 would also make the list of some of the cheapest Newark, NJ insurance companies.

In the above rates, if you currently buy coverage from Palisades and switched to Travelers, you could realize annual savings of upwards of $226. New Jersey drivers with California Casualty could save as much as $339 a year, and The Hartford customers might lower prices by up to $380 a year.

Be aware that those estimates are averaged for all drivers and vehicles in New Jersey and do not factor in an exact zip code location for drivers with good credit. So the auto insurance company that fits you best may not even be in the top 19 companies shown above. That helps illustrate why you need to quote rates from many companies using your own personalized driver profile and vehicle information.

Irresponsible driving raises your rates

The common sense way to enjoy the cheapest insurance rates for financially responsible drivers is to be a good driver and not get tickets or have accidents. The information below demonstrates how traffic citations and fender-benders increase auto insurance rates for different ages of insureds. The premium estimates are based on a married male driver, full coverage, $1,000 deductibles, and no policy discounts are applied.

In the example above, the average cost of a car insurance policy in Newark per year with a clean driving record and no accidents is $1,708. Receive one speeding ticket and the average cost surges to $1,967, an increase of $259 each year. Then include one accident along with the one speeding ticket and the yearly cost of insurance for drivers with good credit jumps again to an average of $2,682. That's an increase of $974, or $81 per month, just for being a little careless behind the wheel!

Discount Newark car insurance

Discounts on insurance for drivers with good creditInsurance companies that offer quotes for drivers with good credit may have policy discounts that may potentially lower prices by as much as 25% or more if you are eligible for them. A list of insurance companies and the discounts they provide are detailed below.

The chart below visualizes the comparison of insurance premiums with and without discounts applied to the premium. The information is based on a male driver, no claims or driving violations, New Jersey state minimum liability limits, full coverage, and $250 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second shows the rates with multiple policy, multiple vehicle, accident-free, defensive driving course, vehicle safety, and passive restraint discounts applied. When drivers qualify for the discounts, the average amount saved each year on insurance for drivers with good credit is 28% or $952.

The professional agents shown below are a good start to help you determine which insurance coverage will be best for you, since some people prefer to have a consultation when shopping around for cheaper insurance for financially responsible drivers. It's not always easy to find the best coverage on your own, so getting advice from a licensed New Jersey insurance agent can give you peace of mind knowing your coverage gives you adequate protection in case of an accident or claim. To find a Newark insurance agency in your neighborhood, click the button at the bottom of the list or click here to compare price quotes now.

METROPLUS INSURANCE AGENCY-BELLEVILLE
338 Washington Ave - Belleville, NJ 07109 - (973) 759-8291

Farmers Insurance - Anthony Pugliese
41 Wilson Ave - Newark, NJ 07105 - (973) 732-2105

Ironbound Business Insurance
275 Chestnut St - Newark, NJ 07105 - (866) 497-1001

Atlantis Agency
177 Adams St - Newark, NJ 07105 - (973) 466-9090

More insurance agents in Newark, NJ

How to find more affordable auto insurance for drivers with good credit

It's not impossible to find cheaper rates, and here are some of the recommended money-saving ideas that can help New Jersey drivers get cheaper car insurance.

The last tip in the list is incredibly critical, as was discussed in this article. Coverage prices change frequently, so you should be ready to change insurance companies if you can save money.

Having brand loyalty is commendable, but we do not recommend it if that loyalty results in overpaying money that could be spent on other things. Now is a great time to shop around and find cheaper car insurance for drivers with good credit in Newark.