How to Get Lower Auto Insurance Rates in Newark

A recent insurance study discovered that a large majority of drivers renewed their policy with the same company for a minimum of four years, and roughly 40% of drivers have never compared rates from other carriers. The average driver in the United States can save nearly 46.5% each year just by comparing rates, but they mistakenly think it's difficult to compare rates and save money.

Really, the only way to find cheaper car insurance rates in Newark is to annually compare prices from providers in New Jersey.

  1. Take a little time to learn about policy coverages and the measures you can take to prevent high rates. Many risk factors that drive up the price like speeding and a bad credit score can be rectified by making minor driving habit or lifestyle changes.
  2. Quote rates from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from one company like Progressive or State Farm, while agents who are independent can provide prices from multiple insurance companies.
  3. Compare the quotes to your current policy and determine if there is any savings. If you can save money and buy the policy, make sure there is no lapse in coverage.
  4. Tell your current agent or company of your intention to cancel your existing policy and submit a signed application and payment to the new company. Make sure you keep your new proof of insurance paperwork in a readily accessible location in your vehicle.

One important bit of advice is to use the same amount of coverage on every price quote and and to analyze as many car insurance companies as possible. Doing this provides a level playing field and many rates to choose from.

When shopping for auto insurance there are multiple ways to compare rate quotes from local Newark auto insurance companies. By far the easiest way to do a complete rate comparison is simply to get online rate quotes.

Getting free rates online is quite simple, and it makes it obsolete to physically go to and from local insurance agencies. The ability to quote auto insurance online makes this process obsolete unless you require the guidance of a local agency. However, consumers can price shop online but buy the policy through an agent. When price shopping your coverage, making a lot of price comparisons increases the chance that you will find a better price. Not every company provides quotes over the internet, so you also need to get price quotes on coverage from those companies, too.

The car insurance companies shown below offer quotes in New Jersey. If multiple companies are listed, we suggest you click on several of them to get the cheapest price.

Insurance Rates for Popular Vehicles in Newark
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Equinox LTZ 2WD $1,644 $822 $137
Chevrolet Silverado LS Regular Cab 2WD $1,488 $744 $124
Dodge Ram Quad Cab TRX4 Off Road 2WD $1,648 $824 $137
Ford Escape XLS 2WD $1,282 $641 $107
Ford Explorer Eddie Bauer 4WD $1,552 $776 $129
Ford F-150 Lariat Crew Cab 4WD $1,552 $776 $129
Ford Focus SE 4-Dr Sedan $1,484 $742 $124
Ford Fusion Hybrid 4-Dr Sedan $1,922 $961 $160
Honda Accord EX 2-Dr Coupe $1,706 $853 $142
Honda CR-V LX 4WD $1,282 $641 $107
Honda Civic DX 2-Dr Coupe $1,760 $880 $147
Hyundai Elantra Blue 4-Dr Sedan $1,576 $788 $131
Jeep Wrangler Sahara 4WD 2-Dr $1,426 $713 $119
Nissan Altima 2.5 S 4-Dr Sedan $1,610 $805 $134
Nissan Rogue S AWD $1,614 $807 $135
Toyota Camry LE $1,518 $759 $127
Toyota Corolla XLE $1,610 $805 $134
Toyota RAV4 4WD $1,518 $759 $127
Get Rate Quotes for Your Vehicle Go

Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Rate information does not factor in specific location information which can lower or raise coverage rates significantly.

Why you need vehicle insurance in New Jersey

Despite the fact that insurance is not cheap in Newark, buying insurance is required for several reasons.

  • Almost all states have compulsory liability insurance requirements which means the state requires a specific minimum amount of liability insurance coverage in order to drive the car legally. In New Jersey these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
  • If you have a loan on your vehicle, almost all lenders will have a requirement that you carry insurance to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the bank may buy a policy for your vehicle at a much higher premium rate and force you to reimburse them a much higher amount than you were paying before.
  • Insurance protects your car and your assets. It will also reimburse you for medical transport and hospital expenses for yourself as well as anyone injured by you. Liability coverage also covers legal expenses if you are sued as the result of your driving. If you have damage to your vehicle as the result of the weather or an accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.

The benefits of insuring your vehicle more than cancel out the cost, especially for larger claims. According to a survey of 1,000 drivers, the average driver overpays more than $869 every year so it's recommended you shop around every year to be sure current rates are still competitive.

Get cheaper rates with discounts

Some companies don't always list all discounts very well, so we took the time to find both the well known as well as some of the hidden credits available to bring down your rates.Discount insurance

  • Policy Bundle Discount - If you combine your auto and home policies and insure them both with the same insurance company you could earn a discount of at least 10% off all policies.
  • Mature Driver Discount - Drivers that qualify as senior citizens could receive a slight reduction on a Newark auto insurance quote.
  • Multi-line Discount - Not every insurance company offers life insurance, but if they do you may earn a small discount if you purchase some life insurance too.
  • Professional Organizations - Affiliation with qualifying employment or professional organizations could trigger savings on your next insurance statement.
  • Drive Less and Save - Driving fewer miles can qualify you for slightly better rates than normal.
  • Defensive Driver - Participating in a class that teaches safe driver techniques could save 5% or more and make you a better driver.
  • Theft Deterrent System - Cars, trucks, and SUVs equipped with tracking devices and advanced anti-theft systems have a lower chance of being stolen and will qualify for a discount on a Newark auto insurance quote.

Policy discounts save money, but most discounts do not apply to your bottom line cost. Some only apply to the cost of specific coverages such as medical payments or collision. Just because it seems like you would end up receiving a 100% discount, nobody gets a free ride. Any amount of discount will cut your policy cost.

A few popular companies and a summarized list of policyholder discounts are detailed below.

  • State Farm may have discounts that include accident-free, Steer Clear safe driver discount, driver's education, Drive Safe & Save, good driver, and passive restraint.
  • Farmers Insurance offers discounts including alternative fuel, homeowner, switch companies, mature driver, youthful driver, good student, and early shopping.
  • Progressive offers discounts for homeowner, online signing, good student, multi-vehicle, continuous coverage, online quote discount, and multi-policy.
  • GEICO may include discounts for anti-theft, multi-policy, air bags, defensive driver, and federal employee.
  • Auto-Owners Insurance has savings for safe vehicle, paperless, paid in full, air bags, anti-lock brakes, safe driver, and company car.
  • The Hartford policyholders can earn discounts including anti-theft, air bag, driver training, defensive driver, vehicle fuel type, and good student.
  • Farm Bureau has discounts for multi-policy, youthful driver, driver training, good student, multi-vehicle, 55 and retired, and safe driver.
  • USAA includes discounts for vehicle storage, new vehicle, defensive driver, multi-policy, safe driver, annual mileage, and driver training.

When comparing rates, check with all companies you are considering which discounts you may be entitled to. Depending on the company, some discounts might not apply in your state. To find insurance companies who offer cheap insurance quotes in Newark, click here.