Buy Cheap Auto Insurance in Newark
The cost of auto insurance coverage depends on a lot of factors, but the average price for coverage in Newark is right around $1,200 every 12 months. The national average around $1,224, so Newark residents pay about $2 more every month than drivers who live in other states.
Car insurance prices in Newark are based on a lot of variables, and one of the largest components is the car, truck, or SUV you are insuring. The table below shows insurance cost for some of the most popular vehicles in Newark.
| Make, Model, and Trim Level | Annual Cost | Semi-Annual Cost | Monthly Cost |
|---|---|---|---|
| Chevrolet Silverado LT Crew Cab 2WD | $1,726 | $863 | $144 |
| Dodge Ram Quad Cab SLT 4WD | $1,656 | $828 | $138 |
| Ford Edge SEL 2WD | $1,478 | $739 | $123 |
| Ford Escape Limited 4WD | $1,384 | $692 | $115 |
| Ford Explorer Limited 2WD | $1,546 | $773 | $129 |
| Ford F-150 Lariat Crew Cab 2WD | $1,546 | $773 | $129 |
| Ford Focus S 4-Dr Sedan | $1,478 | $739 | $123 |
| GMC Sierra SLE Crew Cab 4WD | $1,616 | $808 | $135 |
| Honda Accord EX 4-Dr Sedan | $1,280 | $640 | $107 |
| Honda CR-V EX-L 2WD | $1,314 | $657 | $110 |
| Honda Civic EX-L 4-Dr Sedan | $1,652 | $826 | $138 |
| Hyundai Sonata Limited 4-Dr Sedan | $1,726 | $863 | $144 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,442 | $721 | $120 |
| Kia Optima SX | $1,726 | $863 | $144 |
| Nissan Altima 2.5 S 2-Dr Coupe | $1,726 | $863 | $144 |
| Nissan Rogue S AWD | $1,622 | $811 | $135 |
| Toyota Camry XLE | $1,582 | $791 | $132 |
| Toyota Corolla XLE | $1,582 | $791 | $132 |
| Get Rate Quotes for Your Vehicle Go | |||
Data variables include single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Rate information does not factor in your specific Newark location which can influence rates noticeably.
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Insurance rate increases from tickets or accidents
The chart below illustrates how traffic citations and fender-benders can raise premium costs for each age group. The information is based on a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are factored in.
| Top 15 cheapest vehicles to insure in Newark, NJ |
|---|
| Honda Fit |
| Hyundai Accent |
| Mini Cooper |
| Chevrolet Colorado |
| Kia Rondo |
| Mazda MX-5 Miata |
| Mazda 5 |
| Hyundai Elantra |
| Honda CR-V |
| Ford Escape |
| Chrysler PT Cruiser |
| Honda Accord |
| Nissan Xterra |
| Ford F-150 |
| Jeep Wrangler |
| Top 15 most expensive vehicles to insure in Newark, NJ |
|---|
| Mercedes-Benz S65 AMG |
| Mercedes-Benz CL65 AMG |
| Audi R8 |
| Mercedes-Benz CL600 |
| Mercedes-Benz CL63 AMG |
| BMW 760L |
| Mercedes-Benz S600 |
| BMW M6 |
| Mercedes-Benz S63 AMG |
| Mercedes-Benz CL550 |
| Porsche Panamera |
| Porsche 911 |
| TESLA Roadster |
| Chevrolet Corvette |
| Porsche Cayenne |
| Top 15 safest vehicles to insure in Newark, NJ |
|---|
| Chevrolet Silverado 2500HD |
| Jeep Grand Cherokee |
| Chevrolet Tahoe |
| Ford Escape |
| Chevrolet Equinox |
| Toyota FJ Cruiser |
| Toyota Tacoma |
| GMC Yukon |
| Chevrolet Suburban |
| Audi Q7 |
| Chevrolet Silverado |
| GMC Sierra 2500HD |
| GMC Acadia |
| Buick Enclave |
| GMC Sierra |
Why you need auto insurance in New Jersey
Despite the potentially high cost of car insurance, insuring your vehicle is mandatory in New Jersey but it also protects more than you think.
First, the majority of states have compulsory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability in order to license the vehicle. 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.
Second, if your vehicle has a lienholder, almost every bank will make it mandatory that you have insurance to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the bank may buy a policy for your vehicle for a much higher rate and require you to fork over for it.
Third, insurance safeguards both your assets and your vehicle. It will also cover medical transport and hospital expenses incurred in an accident. Liability insurance also pays for attorney fees and expenses if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, your policy will cover the damage repairs after a deductible is paid.
The benefits of insuring your vehicle are without a doubt worth the cost, particularly when you have a large claim. According to a 2015 survey, the average American driver is overpaying more than $850 per year so shop around every year to be sure current rates are still competitive.