Average car insurance cost in Elizabeth, NJ

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Based on an analysis by Insure.com, the typical car insurance expense in Elizabeth, New Jersey is $2,576 annually. Furthermore, car insurance premiums in Elizabeth are $674 more than compared to the state average in New Jersey and $681 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 Elizabeth, the average car insurance rates by age and gender, and the costs in Elizabeth 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 Elizabeth. Keep reading to learn more.

Cheap car insurance companies in Elizabeth

NJM provides the best value for car insurance in Elizabeth with coverage limits of 100/300/100, costing $1,616 annually.

A close second is Plymouth Rock Assurance, which offers car insurance at $2,023 per year.

Read about the best car insurance companies.

Average car insurance cost in Elizabeth by coverage limits

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

• State minimum coverage: $1,154 per year (limits are 25/50/25)
• Liability only coverage: $1,282 per year (limits are 50/100/50)
• Full coverage: $2,576 per year (limits are 100/300/100)
• Non-owners coverage: $524 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 Elizabeth

Based on an analysis by Insure.com, female drivers in Elizabeth, New Jersey pay an average annual car insurance premium of $2,574. In comparison, male drivers pay $2,578 annually, which is $4 more than what female drivers pay.

According to the Insurance Information Institute, statistics indicate that women are generally considered safer drivers than men. Also, women pay less for car insurance due to the lower rate of severe accidents.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Elizabeth

In Elizabeth, teenagers have the highest car insurance rates, at $7,201 per year or $600 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 $3,857 annually for car insurance, which is $3,344 less than what the teens pay for their insurance policy.

Meanwhile, adult, and senior drivers in Elizabeth have car insurance rates of $2,551 and $2,331 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 Elizabeth

Examining car insurance rate trends in Elizabeth, New Jersey, we observe a downward trend from 2022 to 2023. Subsequently, from 2022 to 2023, the rates experienced decrease overall, with an increase of 6% or $163.

The table below shows the trend for last four years:

Conclusion

In conclusion, the insurance rates in Elizabeth, are higher than the average insurance cost in New Jersey. Shopping around and taking advantage of available discounts, drivers in Elizabeth can find affordable car insurance options. Many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

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

 

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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.