Cheapest car insurance companies in Newark
According to a study by Insurance.com, the cheapest car insurance companies in Newark for 2023 are Travelers and Nationwide.
In Newark, Travelers provides the cheapest auto insurance rates to drivers at an average annual premiumThe payment required for an insurance policy to remain in force. Auto insurance premiums are quoted for either 6-month or annual policy periods. of $1,647 annually.
Car insurance prices in Newark can differ based on where you live, your driving history, coverage limit, and your insurance provider. To find the best deal on auto insurance, it's wise to compare quotes from various companies. Below are the companies that offer cheap car insurance to Newark drivers.
| Companies | Average annual rates |
|---|---|
| USAA | $1,563 |
| Travelers | $1,647 |
| Nationwide | $1,695 |
| Geico | $1,856 |
| Progressive | $2,159 |
| State Farm | $2,375 |
| Donegal | $2,995 |
| American Family | $3,134 |
Cheapest car insurance cost in Newark by Age Group
Nationwide offers the cheapest full coverage car insurance for teenage drivers in Newark, with an average annual cost of $5,738 per year. Insurance companies deem teenagers as "high-risk" drivers due to their inexperience and statistically higher accident rates. This elevated risk profile translates to significantly higher car insurance costs for young drivers compared to their older counterparts.
Teens can maintain lower car insurance premiums by leveraging the good student discount or by remaining on their parent’s existing policy as long as feasible.
Among the carriers analyzed, Geico is the cheapest car insurance option for young drivers in Newark, at $2,627 a year for a full coverage policy.
As Newark drivers transition into their 30s, they can enjoy significantly lower auto insurance costs compared to their 20s. Travelers stands out as the cheapest car insurance option for adult drivers, with an annual premium of $1,564.
If you are a senior driver in Newark and looking for a cheap car insurance company, then consider buying insurance from USAA. It is the cheapest auto insurance company for senior drivers, with an average premium of $1,561 per year.
| Company | Teens | Young Adults | Adults | Seniors |
|---|---|---|---|---|
| Allstate | N/A | $6,678 | $4,709 | N/A |
| Nationwide | $5,738 | $3,136 | $1,683 | $1,655 |
| USAA | $6,258 | $2,732 | $1,675 | $1,561 |
| Geico | $6,284 | $2,627 | $1,853 | $1,826 |
| State Farm | $7,272 | $4,060 | $2,393 | $2,434 |
| Donegal | $8,896 | $5,521 | $2,907 | $2,645 |
| American Family | $9,411 | $5,572 | $2,995 | $2,857 |
| Travelers | $11,101 | $2,778 | $1,564 | $1,640 |
| Progressive | $11,375 | $3,702 | $2,165 | $2,393 |
Cheapest car insurance companies in Newark by driver profile
Car insurance rates in Newark vary by driver profile. Drivers with a history of accidents or tickets on their record will likely pay more for car insurance than those without any driving violations.
It's important to compare insurance quotes from at least three carriers to find the cheapest insurance company in Newark that suits your budget.
Based on data analysis by Insurance.com's experts, these are the cheapest car insurance companies for Newark drivers based on driver profile.
- Cheapest for a driver with poor credit: Geico
- Cheapest for a driver with a speeding ticket: USAA
- Cheapest for accident: USAA
- Cheapest for DUI: State Farm
Cheapest for a driver with poor credit: Geico
Geico is the cheapest car insurance option for drivers with poor credit. Its average annual auto insurance cost for Newark drivers is $1,824.
The table below shows the list of car insurance companies that offer affordable car insurance for drivers with poor or bad credit scores.
| Company | Average annual rates |
|---|---|
| Geico | $1,824 |
| Nationwide | $2,387 |
| USAA | $2,653 |
| Travelers | $2,723 |
| Progressive | $3,018 |
| State Farm | $5,298 |
| Allstate | $5,698 |
Cheapest for drivers with a speeding ticket: USAA
USAA has the cheapest car insurance premiums for drivers with speeding ticket violations on their records in Newark. Its full coverage car insurance policy costs an average of $1,879 per year for drivers aged 30.
Some companies are known for providing the cheapest car insurance rates, but finding the most affordable policy depends highly on individual factors.
Comparing quotes from various car insurance companies can prove beneficial for getting the best deal. With this, you can get the coverage you need at an affordable price.
| Company | Average annual premium |
|---|---|
| USAA | $1,879 |
| State Farm | $1,884 |
| Travelers | $2,166 |
| Progressive | $2,397 |
| Nationwide | $2,450 |
| Geico | $2,805 |
| Allstate | $4,221 |
Cheapest auto insurance after an at-fault accident: USAA
USAA is the cheapest auto insurance provider for drivers with a history of accidents. Its average annual rate for a driver with an at-fault accident in Newark is $1,711. If you've had an accident in the past, it's important to find a provider that offers rates that are affordable and won't hurt your pocket.
| Company | Average annual rates |
|---|---|
| USAA | $1,711 |
| Travelers | $1,730 |
| State Farm | $2,043 |
| Nationwide | $2,527 |
| Progressive | $3,103 |
| Geico | $3,313 |
| Allstate | $6,456 |
Cheapest auto insurance after a DUI: State Farm
Buying car insurance doesn't have to break the bank. State Farm offers the cheapest full coverage policy in Newark for drivers with a DUI, with an average annual premium of $1,884.
A DUI conviction can significantly affect your auto insurance rates. However, to keep your coverage rates low, it is important to compare quotes from various insurers before renewing or purchasing a new policy. Doing so ensures you get the most competitive rate for your situation.
| Company | Average annual rates |
|---|---|
| State Farm | $1,884 |
| USAA | $2,709 |
| Progressive | $3,131 |
| Travelers | $3,285 |
| Geico | $3,541 |
| Nationwide | $3,740 |
| Allstate | $6,026 |
Average car insurance cost in Newark
Full coverage car insurance in Newark for a coverage limit of 100/300/100 is $2,178 per year or $182 per month, while the state minimum coverage costs an average of $874 a year.
While full coverage car insurance is more expensive than the state minimum, it provides valuable protection for your own vehicle in addition to coverage for other drivers in the event of an accident. To save money, consider comparing quotes from multiple insurance companies.
| Average annual Rates | State minimum average |
|---|---|
| $2,178 | $874 |
Methodology
Insurance.com commissioned 2023 data for the cheapest car insurance rates in cities from Quadrant Data Services for all 50 states and Washington D.C. Rates are based on the following profile:
- 40-year-old male driver
- Honda Accord LX
- 12-mile daily commute, 10,000 annual miles
- Good credit
- Clean record
While the rates for drivers with poor credit, speeding tickets, DUI and at-fault accidents were sourced from the Auto Problems Report 2023.
Rates are based on coverage limits of:
- $100,000 bodily injury per person
- $300,000 bodily injury per accident
- $100,000 property damage per accident
- $500 comprehensive and collision deductible
Insurance.com analyzed rates from over 34,000 ZIP codes, 56 million quotes, and 136 companies. Based on the analysis, we have created lists of the cheapest companies for different driver profiles. USAA also made it to the list, but it offers services only to current and former military members and their families. Rates sourced from Quadrant Data Services for comparison purposes only; your rates may differ.
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