You have probably seen the catchy advertisements from companies like GEICO and Nationwide that say if you switch you’ll get big savings. So drivers should just pick the company with the cutest commercial, right?
It’s not that simple, unfortunately, as there are a whole bunch of unknown factors such as the crime level of your neighborhood, if you have any driving citations, and the number of miles you drive each year, that all have an effect on the price of a policy. The content below will cover these factors and others that can influence the price of auto insurance and will hopefully give you a good beginning to your quest for cheaper car insurance.
The vehicle model requiring insurance is one of the primary factors when shopping around for cheap coverage for teachers. Vehicles with lower acceleration and performance, good safety features, or low incidents of liability claims will cost quite a bit less to insure than adrenaline junky models.
The next list illustrates auto insurance prices for a handful of the cheaper vehicles to insure in New Jersey.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $1,902 |
| Toyota Prius | $2,065 |
| Dodge Grand Caravan SE | $2,080 |
| Honda CR-V EX 2WD | $2,102 |
| Hyundai Elantra GLS Touring Station Wagon | $2,108 |
| Ford Edge Limited 2WD | $2,160 |
| GMC Sierra SL Extended Cab 2WD | $2,200 |
| Chevrolet Impala LT | $2,206 |
| Ford Explorer Limited 4WD | $2,243 |
| Chevrolet Silverado LS Regular Cab 4WD | $2,311 |
| Nissan Altima 2.5 S 4-Dr Sedan | $2,317 |
| Toyota Tacoma X-Runner 2WD | $2,326 |
| Toyota Corolla S | $2,317 |
| Hyundai Sonata GLS 4-Dr Sedan | $2,357 |
| Nissan Rogue S AWD | $2,364 |
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Premium data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Prices do not factor in specific location information which can influence insurance rates substantially.
Looking at the data, we can presume that cars like the Ford Escape, Toyota Prius, Dodge Grand Caravan, Honda CR-V, and Hyundai Elantra are most likely going to be the most economical vehicles to insure for teachers and educators.
Finding decent, cheap auto insurance is challenging, and finding out which insurers offer the lowest-priced car insurance rates for teachers calls for even more shopping around. Each auto insurance company uses a different method to determine premium rates, so first let’s look at the rankings for the car insurance companies with the overall cheapest rates in Newark.
It’s important that readers know that Newark, NJ car insurance rates are determined by lots of factors which can significantly increase or decrease the cost of a policy. This price variation is why it is crucial to do a thorough rate comparison when trying to get the most affordable insurance rates for teachers. Prices consist of many factors and can change substantially, so the cheapest rate six months ago may now be quite expensive.
Best Auto Insurance Prices for Educators
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | 21st Century | $1,100 |
| 2 | Travelers | $1,191 |
| 3 | New Jersey Manufacturers | $1,258 |
| 4 | Penn National | $1,338 |
| 5 | Palisades | $1,354 |
| 6 | California Casualty | $1,481 |
| 7 | The Hartford | $1,491 |
| 8 | Allstate | $1,523 |
| 9 | USAA | $1,538 |
| 10 | Mercury | $1,587 |
| 11 | Progressive | $1,862 |
| 12 | Amica | $1,887 |
| 13 | Esurance | $1,894 |
| 14 | MetLife | $2,010 |
| 15 | State Farm | $2,160 |
| 16 | GEICO | $2,174 |
| 17 | Encompass | $2,327 |
| 18 | Liberty Mutual | $2,920 |
| 19 | Hanover | $3,987 |
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21st Century may have some of the lowest car insurance rates in Newark at around $1,100 per year. Travelers, New Jersey Manufacturers, Penn National, and Palisades would also be considered some of the best Newark, NJ car insurance companies.
In the above example, if you are a customer of Travelers and switched to 21st Century, you may see an annual premium reduction of upwards of $91. Insureds with New Jersey Manufacturers might save as much as $158 a year, and Penn National insureds might reduce prices by as much as $238 a year.
To discover how much you can save, click here to start your custom quote or visit several of the following companies.
Remember that these rates are averages across all drivers and vehicles and do not factor in an exact location for teachers. So the auto insurance company that is best suited for you may not even be in the top 19 companies in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own personalized driver profile and vehicle information.
The example below highlights how deductible selection can influence yearly insurance costs when researching cheap insurance for teachers. The costs are based on a married male driver, full physical damage coverage, and no policy discounts are applied.
The chart above illustrates that a 40-year-old driver could lower rates by $336 a year by switching from a $100 deductible up to a $500 deductible, or save $508 by changing to a $1,000 deductible. Even younger insureds, like the 20-year-old example, could potentially save $1,114 annually just by choosing higher deductibles.
When raising deductibles, it will be necessary to have plenty of savings on hand to be able to pay the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Get discounts on Newark insurance
Insurers that offer cheap quotes for teachers could also offer premium discounts that could potentially reduce rates by 40% or more if you are eligible. The best car insurance companies and some of their more popular discounts are included below.
- Mercury Insurance offers discounts including good driver, annual mileage, type of vehicle, low natural disaster claims, and location of vehicle.
- Farmers Insurance may have discounts that include multi-car, homeowner, switch companies, bundle discounts, electronic funds transfer, and alternative fuel.
- Farm Bureau may include discounts for multi-vehicle, renewal discount, youthful driver, good student, safe driver, multi-policy, and driver training.
- State Farm discounts include Steer Clear safe driver discount, anti-theft, Drive Safe & Save, good student, student away at school, and multiple policy.
- Allstate has savings for anti-lock brakes, EZ pay plan discount, farm vehicle, premier plus, anti-theft, resident student, and premier discount.
- GEICO may offer discounts for driver training, multi-vehicle, multi-policy, defensive driver, five-year accident-free, air bags, and seat belt use.
The example below shows the comparison of car insurance costs with and without discounts applied to the policy premium. Data assumes a male driver, no violations or accidents, New Jersey state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with multiple policy, multiple vehicle, anti-theft, passive restraint, accident-free, and safe-driver discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on car insurance for teachers is 28% or $697.
Do you need full coverage?
Saving money when shopping for car insurance is probably important to most drivers, and one way to lower the cost of insurance for teachers is to not buy full coverage. The chart below shows the difference between annual premium costs when comparing full coverage to liability only. The data assumes no violations or claims, $1,000 deductibles, single marital status, and no policy discounts are applied.
If we average all the age groups together, physical damage coverage on your policy costs $2,681 per year over and above liability only. That is a significant amount which raises the question when is the right time to remove full coverage. There isn’t a written rule to exclude comp and collision coverage, but there is a broad guideline. If the annual cost of having full coverage is about 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
The Newark auto insurance agencies shown below can help you decide which coverages are best, as some drivers have questions and prefer to get some guidance when shopping around for cheaper insurance for teachers. It can be time-consuming to find the cheapest rate yourself, and professional agents can provide you satisfaction knowing your coverage gives you enough protection.
To locate an agency near you, click the button below the list or click here to compare rates now.
- Farmers Insurance – Anthony Pugliese
41 Wilson Ave – Newark, NJ 07105 – (973) 732-2105 - METROPLUS INSURANCE AGENCY
1423 McCarter Hwy – Newark, NJ 07104 – (973) 732-3794 - Te Freuler
274 Chestnut St – Newark, NJ 07105 – (973) 274-0500 - George H Nixon Agency
54 Grumman Ave – Newark, NJ 07112 – (973) 923-3721
View map of Newark, NJ insurance agents
How to find more affordable car insurance for teachers
The list below details a few money-saving suggestions that can help Newark drivers find cheap coverage.
- Avoid preventable accidents
- Do not insure for full coverage
- Increase physical damage deductibles
- Buy a car with high safety ratings
- Good credit scores may lower your rates
- Do not get traffic citations
- Compare prices as often as possible
The last tip is extremely important, as was pointed out in this article. Car insurance prices can change considerably in a year, so don’t be tentative to buy from a different company if a better deal can be had. Being loyal to a particular company is commendable, but it’s not a great idea if your bullheadedness ends up costing you money that could be going to better use. Now is a great time to compare prices to find cheaper car insurance for teachers in Newark.