Cost of New Jersey Car Insurance
The following information can also be found on the State of NJ
Motor Vehicle Commission website. There are several factors that
affect the cost of New Jersey car insurance, that may include,
but not limited to your driving record, vehicle type, geographic
area, marital status, gender, age, and the policy options you
choose.
Driving Record
If you (or a member of your household) have a driving record that
includes motor vehicle violations, suspensions and/or at-fault
accidents, the price you pay to obtain NJ auto insurance might
be higher. New Jersey car insurance companies may consider you (or a
member of your household) to be a high-risk driver and charge a
higher rate than a driver with a “clean” record (free of accidents
and violations). Each company has underwriting guidelines to
determine what type and how many accidents and violations during a
specific period constitute a high-risk driver.
Vehicle Type
The make, model and value of your vehicle affects the cost of your
New Jersey car insurance premium. Generally, an older vehicle will
cost less to insure, while a high performance or luxury car will
cost more. The cost to insure different makes and models of vehicles
can vary among insurers, so be sure to check with several insurers
to get the best price and coverage for your needs. NJ auto insurance
companies may offer discounts for vehicles with safety features, so
check with us for details, especially when you are considering
purchasing a vehicle.
Geographic Area
Where you drive and keep your vehicle also influences your premium.
The number of claims filed by policyholders in your territory will
affect the rates charged by New Jersey auto insurance companies.
Gender and Age
Statistics show that males and young adults have a higher incidence
of accidents and claims; therefore, your gender and age can affect
the rate you get on your NJ auto insurance policy.
Marital Status
Statistically, young married couples tend to have a lower incidence
of accidents and claims; therefore, they generally pay lower NJ auto
insurance premiums than single people.
Vehicle Use
The distance you live from work or school may affect the cost of
your New Jersey car insurance, as it determines your daily
exposure to risk. Insurers will calculate your premium based on the
average distance you drive on an annual basis or how far you commute
to work or school. Whether you use your vehicle for personal or
business use may also impact the rate you get on your New Jersey car
insurance policy. |
