The words “low-priced” and “insurance” probably shouldn’t be used together, especially when you are looking for the cheapest car insurance after a speeding ticket. To help control this cost, let’s open your eyes to some situations the can have a considerable influence on insurance prices, and come up with some ideas to lower the price of your next policy.
The vehicle you are seeking coverage for is probably the largest consideration that determines whether or not you can buy the lowest-priced car insurance after a speeding ticket. Vehicles with reasonable performance levels, excellent safety ratings, or a track record of few liability claims will cost less to insure than higher performance models.
The next list outlines auto insurance rates for some of the cheapest automobiles to buy insurance for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $2,542 |
| Honda Accord EX 4-Dr Sedan | $2,777 |
| Honda Odyssey LX | $2,789 |
| Toyota Prius | $2,822 |
| Honda CR-V EX 4WD | $2,847 |
| Jeep Wrangler Sahara 4WD 2-Dr | $2,856 |
| Chevrolet Impala LS | $2,955 |
| Toyota RAV4 Limited 2WD | $3,012 |
| Dodge Grand Caravan Crew | $3,069 |
| Ford Explorer XLT 4WD | $3,121 |
| Volkswagen Jetta 2.0T Station Wagon | $3,202 |
| GMC Sierra SLE Crew Cab 2WD | $3,217 |
| Nissan Rogue SL 2WD | $3,223 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $3,238 |
| Ford Fusion Sport 4-Dr Sedan | $3,246 |
| Chevrolet Equinox LT 2WD | $3,286 |
| Toyota Tacoma Double Cab 4WD | $3,296 |
| GMC Sierra 3500HD SLE Regular Cab 2WD | $3,295 |
| Chevrolet Malibu LT | $3,356 |
| Ford Focus SES 4-Dr Sedan | $3,383 |
| Ford Edge Limited AWD | $3,401 |
| Toyota Camry Hybrid | $3,449 |
| Hyundai Elantra SE 4-Dr Sedan | $3,452 |
| Start Your Quote Go | |
Table data assumes single male driver age 40, two speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, and multi-vehicle. Premium costs do not factor in specific location information which can increase or decrease price quotes substantially.
Based upon the rates shown, we can expect vehicles like the Ford Escape, Honda Accord, Honda Odyssey, Toyota Prius, and Honda CR-V will definitely be the most economical vehicles to insure after a few driving violations.
Determining which insurers offer the best car insurance rates after a speeding ticket will involve a bit more effort in order to find the best policy.
Each insurance company uses their own formula for determining rates in each state, so let’s take a look at the car insurance companies that tend to be cheaper in Newark, NJ.
Best Insurance Companies with Licence Points
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | 21st Century | $1,100 |
| 2 | Travelers | $1,145 |
| 3 | New Jersey Manufacturers | $1,258 |
| 4 | Penn National | $1,379 |
| 5 | Palisades | $1,395 |
| 6 | The Hartford | $1,491 |
| 7 | California Casualty | $1,495 |
| 8 | Allstate | $1,523 |
| 9 | USAA | $1,538 |
| 10 | Mercury | $1,603 |
| 11 | Esurance | $1,838 |
| 12 | Amica | $1,887 |
| 13 | Progressive | $1,919 |
| 14 | MetLife | $2,010 |
| 15 | State Farm | $2,182 |
| 16 | GEICO | $2,196 |
| 17 | Encompass | $2,327 |
| 18 | Liberty Mutual | $2,978 |
| 19 | Hanover | $4,027 |
| Quote Your Rates Go | ||
21st Century generally has some of the best car insurance rates in Newark at around $1,100 per year. This is $752 less than the average policy premium paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades are also some of the more affordable Newark, NJ car insurance companies.
In the above example, if you have coverage with Penn National and switched to Travelers, you could see a yearly savings of roughly $234. Customers with Palisades could save as much as $250 a year, and The Hartford customers might cut rates by $346 a year.
These estimates are averages across all drivers and vehicles and and are not figured with a specific vehicle garaging location after a speeding ticket. So the car insurance company that can offer the best rates for your situation may not even be in the top 19 companies shown above. That is why you need to get quotes using your own driver data and vehicle information.
After a few driving violations, one of the more important factors that are used to help calculate auto insurance rates is where you call home in Newark. More densely populated places tend to have higher rates, whereas areas with less crime or weather claims benefit from lower rates.
The next table ranks the highest-priced places in New Jersey after a speeding ticket to purchase auto insurance in. Newark ranks #1 with the yearly price of $2,598 for coverage, which is around $217 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Newark | $2,598 |
| 2 | West New York | $2,531 |
| 3 | East Orange | $2,521 |
| 4 | Paterson | $2,472 |
| 5 | Elizabeth | $2,470 |
| 6 | Union City | $2,450 |
| 7 | Passaic | $2,371 |
| 8 | Hoboken | $2,307 |
| 9 | Kearny | $2,289 |
| 10 | Jersey City | $2,276 |
| 11 | Clifton | $2,276 |
| 12 | Bayonne | $2,274 |
| 13 | Camden | $2,221 |
| 14 | Linden | $2,185 |
| 15 | Perth Amboy | $2,081 |
| 16 | Fort Lee | $2,060 |
| 17 | Atlantic City | $2,024 |
| 18 | Plainfield | $1,956 |
| 19 | Hackensack | $1,940 |
| 20 | Sayreville | $1,939 |
| 21 | New Brunswick | $1,913 |
| 22 | Trenton | $1,896 |
| 23 | Vineland | $1,842 |
| 24 | Lakewood | $1,800 |
| 25 | Toms River | $1,725 |
| Compare Prices Now Go | ||
Rates are approximated as the specific zip code location can alter auto insurance rates considerably.
The illustration below demonstrates how deductible levels can impact insurance prices when trying to find cheap insurance after a speeding ticket. Data assumes a married female driver, comp and collision included, and no policy discounts are applied.
A 30-year-old driver could pocket $532 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $800 by changing to a $1,000 deductible. Youthful drivers, such as the Age 20 example, can save $1,134 or even more by selecting a higher deductible. If you do raise deductibles, it is essential to have plenty of money set aside to enable you to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Liability only or full coverage
Lowering the price of car insurance is important to the majority of drivers, and one common way to reduce the cost of insurance after a speeding ticket is to only buy liability coverage. The illustration below illustrates the comparison of premium costs with full physical damage coverage compared to only buying the minimum liability limits required in New Jersey. The premium estimates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
Averaged for all ages 20 through 70, physical damage insurance costs $2,010 per year more than carrying just liability coverage. That is a significant amount which raises the question if buying full coverage is worth the money. There is no clear-cut rule for phasing out physical damage coverage on your policy, but there is a broad guideline. If the annual cost of having full coverage is about 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.
For example, let’s say your vehicle’s replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $4,000 after you pay the deductible. If you are paying in excess of $400 annually for your policy with full coverage, the it may be a good time to stop paying for full coverage.
Safe drivers Newark pay cheaper rates
The best way to earn good car insurance rates in New Jersey after a few driving violations is to be a cautious driver and avoid accidents and violations. The diagram below shows how traffic citations and fender-benders increase car insurance rates for each age group. The information is based on a married male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.
The data in the chart shows the average cost of auto insurance per year with no accidents and a clean driving record is $3,195. Get two speeding tickets and the average cost hikes up to $4,429, an increase of $1,235 each year. Now add in two accidents along with the two speeding tickets and the 12-month cost of car insurance after a speeding ticket goes up to an average of $8,783. That’s an increase of $5,588, or $466 per month, just for being a little careless behind the wheel!