Average car insurance cost in Newark, DE

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

Based on an analysis by Insure.com, the typical car insurance expense in Newark, Delaware is $2,178 annually. Furthermore, car insurance premiums in Newark are $115 more than compared to the state average in Delaware and $283 more than the national average.

Car insurance premiums differ widely depending on the location, city demographics, population density, average resident age, accident rates, and theft and vandalism.

This article looks at the most affordable car insurance companies in Newark, the average car insurance rates by age and gender, and the costs in Newark based on coverage limits.

Whether you’re a new or experienced driver, this article will guide you in finding the most affordable car insurance in Newark. Keep reading to learn more.

Cheap car insurance companies in Newark

Travelers offers the cheapest car insurance in Newark, at an average of $1,647 per year with full coverage limits of 100/300/100.

The second cheapest company in Newark is Nationwide, offering car insurance rates at $1,695 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Newark before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Newark, Delaware:

Read about the best car insurance companies.

Average car insurance cost in Newark by coverage limits

In Newark, the average car insurance rates based on coverage types are as follows:

• State minimum coverage: $874 per year (limits are 25/50/25)
• Liability only coverage: $1,117 per year (limits are 50/100/50)
• Full coverage: $2,178 per year (limits are 100/300/100)
• Non-owners coverage: $293 per year

In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.

To avoid compromising on the coverage and pay out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.

Average car insurance rates by gender in Newark

The average car insurance per year for female drivers in Newark, Delaware, is $2,192.

Whereas the yearly average car insurance rate for male drivers is $2,164, which is $28 less than what female drivers pay.

According to the Insurance Information Institute, women are considered to be safer drivers than men, and statistics have proved this. They often enjoy lower auto insurance premiums due to their lower incidence of severe accidents compared to men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Newark

In Newark, teenagers have the highest car insurance rates, at $8,081 per year or $673 per month. This higher rate is attributed to the increased risk of road accidents among teenagers (aged 16 to 19) due to their limited experience on the road, according to the Insurance Information Institute.

However, there are driving laws for teens to improve their driving habits. Additionally, the cost of teen insurance can be reduced by adding them to a parent’s auto insurance policy. As teens mature and establish a positive driving history, their car insurance rates are likely to decrease.

Young adults, pay an average of $3,748 annually for car insurance, which is $4,333 less than what the teens pay for their insurance policy.

Meanwhile, adult, and senior drivers in Newark have car insurance rates of $2,169 and $2,127 per year, respectively. The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below shows the average annual rates for drivers of different age groups:

Car insurance rate trends in Newark

Examining the trends in car insurance rates in Newark, Delaware, there was an downward trend from 2022 to 2023. Between 2022 and 2023, rates decrease overall by 7% or $156.

The table below illustrates the trend over the three years:

Conclusion

Car insurance rates in Newark are higher than the average rates in Delaware. Drivers in Newark can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

 . .

Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.