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.
| 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.
| 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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| 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 |
| Find Your Rate Go | ||
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
Insurance 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.
- GEICO has savings for seat belt use, multi-vehicle, anti-theft, membership and employees, emergency military deployment, and driver training.
- USAA offers premium reductions for family discount, loyalty savings, military installation, driver training, defensive driver, and new vehicle.
- Progressive may include discounts for continuous coverage, online signing, multi-policy, online quote discount, homeowner, multi-vehicle, and good student.
- American Family has discounts for air bags, early bird, TimeAway discount, multi-vehicle, bundled insurance, good student, and accident-free.
- Esurance policyholders can earn discounts including anti-lock brakes, Pac-12 alumni, multi-policy, defensive driver, claim free, and paid-in-full.
- Farmers Insurance may have discounts that include multi-car, mature driver, bundle discounts, good student, homeowner, pay in full, and business and professional.
- State Farm offers discounts for driver’s education, Drive Safe & Save, accident-free, passive restraint, good driver, multiple autos, and good student.
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.
- Save money by only buying liability coverage for older vehicles
- Multi-policy discounts save money
- Avoid having at-fault accidents
- Better credit rating means better rates
- Drive a car with a high safety rating
- Shop your coverage around for the best deal
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.