Newark drivers know that New Jersey car Insurance can be costly. Average auto insurance costs in Newark are $1,254 per year for minimum coverage, and $2,624 per year for full coverage. This is quite a bit higher than the national average $565 and $1674. It is important to find out about the best Newark car insurance companies. Newark’s Essex County saw more than 30,000 car accidents in 2019. Additionally, approximately 15% of New Jersey drivers did not have auto insurance in 2015. This highlights the importance of cheap auto insurance in Newark.
We used several variables to find the best Newark car insurance rates. These variables included the average premium rates for the area, the market share of each company in the auto industry, the number of discounts offered, and the J.D. Power auto insurance report. These variables were weighted towards average rate, company size, J.D. Discounts and power score
Newark’s best car insurance companies
We took the top auto insurance companies in the region with the lowest average rates and the largest market share. Then we compared them by J.D. Discounts and power scores. The best Newark car insurance companies were those with the lowest rates, highest scores, and the most generous discounts.
| Insurance Company | J.D. J.D. | Average Annual Premium for Minimum Insurance | Average annual premium for full coverage |
|---|---|---|---|
| NJM | 847 / 100 | $501 | $1,704 |
| Geico | 841/ 100 | $858 | $1,995 |
| Travelers | 836 / 100 | $991 | $1,903 |
| State Farm | 855 / 100 | $1,099 | $1,862 |
| Metlife | 831 / 100 | $1,196 | $1,984 |
NJM
NJM is an auto insurance company that has been around for over a century. NJM is the last five. It offers the lowest annual rate for minimum and full coverage, while scoring higher than many on the J.D. The Power report. NJM offers many discounts that will help lower your rates, in addition to excellent ratings and low cost.
Geico
Geico, one of Newark’s most well-known insurance companies, is a good choice for cheap car insurance. Geico has the lowest average annual minimum coverage rates of any insurance company on our list, after NJM. Geico scored an 841 on J.D. Geico is just six points behind NJM in the Power report. Geico offers discounts that are higher than those offered by many of its rivals, which helps to strengthen its position.
Travelers
The Travelers Insurance is a bit more expensive than the other two, but it’s well-known for its quality services and reputation. Average premiums for travelers and J.D. The company’s average premiums and J.D. are in the middle of our list. This makes it a solid choice among the top cheap car insurance companies in Newark. Travelers also offers IntelliDrive, an app that monitors customer driving and provides discounts for safe driving.
State Farm
State Farm, one of America’s largest insurance companies, serves customers all over the country. Their extensive coverage options, as well as the flexibility of their policies, have made them well-known. State Farm is the most expensive of the five companies we reviewed, but they were the best-performing company on the J.D. The Power report. Although the company offers discounts, they are not as numerous as some of the other companies on this list.
Metlife
Metlife insurance provides the standard range of auto insurance plans, but also offers some specialty options. This company offers car insurance for classic cars as well as policy add-ons to insure custom parts of vehicles. Metlife’s average rates are the highest on our list, but they still scored an 831 on J.D. The Power report. Although the discounts are not very common, they can have a significant effect on rates.
Newark has the lowest car insurance
Car insurance in Newark, which is more expensive than the national average, can be very costly. This makes it even more important to get the lowest auto insurance. The U.S. average for auto insurance is $565 for minimum coverage and $1,674 full coverage. The average annual cost of auto insurance in the United States is $565 for minimum coverage, and $1,674 full coverage. The average annual cost for minimum coverage in Newark is $1,254, and the average price for full coverage is $2,624.
Below is a list of Newark car insurance companies that have the highest market share and offer the lowest average rates. This allows us to identify the most financially sound companies while still being affordable. We can then provide some of Newark’s best car insurance. Amica has the lowest annual minimum coverage, by a substantial amount. They are all pretty close when it comes down to coverage. State Farm holds a slight advantage.
This list includes auto insurance companies that offer lower annual rates than the Newark average. They are therefore excellent options for cheap car insurance in Newark. You may be eligible for discounts to make these rates even more affordable. All of these companies offer discounts. Amica and Geico are the best.
| Insurance Company | Average Annual Premium for Minimum Insurance | Average annual premium for full coverage |
|---|---|---|
| Amica | $576 | $2,252 |
| Geico | $858 | $1,995 |
| Travelers | $991 | $1,903 |
| State Farm | $1,099 | $1,862 |
| MetLife | $1,196 | $1,984 |
Newark Insurance requirements
New Jersey’s mandatory auto-insurance requirements are something that Newark drivers must comply with. These rules help to prevent financial problems from arising from an auto accident in which one or more drivers are uninsured. Minimum liability in New Jersey works slightly differently than other states because it is not at fault. New Jersey’s minimum liability coverage covers your accident-related bills, not the other driver’s.
Although the minimum coverage is what the law requires, it might not be sufficient. The minimum coverage does not always cover all costs associated with an accident. You may be responsible for any costs incurred due to property damage or medical bills that exceed your coverage limits. Imagine, for example, that your car repairs exceed your property damage limit. You may need to either pay the difference out-of-pocket or do the repairs yourself.
Newark insurance coverage requirements
- Bodily Injury Liability: $15,000 per Person and $30,000 per Accident
- Property damage liability: $5,000 per accident
Newark: Car insurance discounts
It is a good idea to find out about discounts when shopping for Newark car insurance quotes. There are many choices for Newark car insurance discounts. All of the auto insurance companies that have been mentioned offer a range of discounts. Some of the top Newark car insurance companies offer greater discounts than others. Below are the discounts that can have the greatest impact on insurance rates. The range of discounts has been listed where possible.
- Safe driving (7-23%)
- Excellent student driving (8-15%)
- Multi-car discounts
- Multi-policy bundling
- Senior driver discount
Questions frequently asked
Which is the best auto insurance company?
One company may be better than another. Start with the Bankrate guide The Best Car Insurance Companies in 2021 to find the best auto insurance.
What is the cost of Newark car insurance?
Newark’s average car insurance cost is $1,254 for basic coverage and $2,624 to cover full. Our selected auto insurance companies had much lower average rates at $501 and $1704, respectively. The Bankrate guide to 2021 the cheapest car insurance providers in offers more affordable options than these lists.
What amount of Newark car insurance do you need?
You must at least purchase the required coverage by the state. It is up to you to decide the risk-to-protection ratio. It can be difficult to figure the amount of car insurance that you need. Consider what would happen if you lost your car? Would you be okay if your vehicle was totaled? You may need more coverage if you are not satisfied.