Buying cheap auto insurance is not always easy, and finding out which companies have the lowest-priced auto insurance rates for drivers over age 70 may require even more rate comparisons. Each insurer uses a slightly different approach for establishing rates, so first let’s look at the rankings for the most affordable auto insurance companies in New Jersey.
It’s important that you understand New Jersey auto insurance rates are determined by lots of factors which can significantly increase or decrease the cost of having a policy. Taking a driver safety course, moving to a different location, or getting a speeding ticket can cause premium changes resulting in some companies being higher-priced than the competition.
Best Cheap Insurance Rates for Age 70+
|Rank||Company||Cost Per Year|
|3||New Jersey Manufacturers||$1,271|
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21st Century may have some of the most affordable car insurance rates in Jersey City at around $1,111 per year. This is $741 less than the average policy premium paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades also are some of the lowest-priced Jersey City, NJ car insurance companies.
In the above example, if you buy coverage from Palisades and switched to Travelers, you might realize annual savings of roughly $250. Insureds with California Casualty could save as much as $306 a year, and The Hartford insureds might realize rate reductions of up to $331 a year.
To find out how your current rates compare, click here or click through to the companies below.
Bear in mind that those prices are averages for all drivers and vehicles in New Jersey and do not take into consideration an exact location for drivers over age 70. So the company that is best for you may not even be in the top 19 companies shown above. That’s why you need to get auto insurance quotes using your own driver and vehicle profiles.
The vehicle model you are buying coverage for is a large factor when consumers are trying to find the best cheap auto insurance for drivers over age 70. Vehicles with limited top-end speed, a plethora of safety features, or a low likelihood of liability claims will cost significantly less to insure than high performance models. The table below ranks coverage costs for a handful of the most economical automobiles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$1,605|
|Honda Accord EX 4-Dr Sedan||$1,610|
|Ford Escape XLT 2WD||$1,605|
|Dodge Grand Caravan CV||$1,798|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,808|
|Ford Explorer XLT 4WD||$1,798|
|Ford Edge SEL 2WD||$1,874|
|Chevrolet Malibu Hybrid||$1,901|
|Chevrolet Silverado LT Extended Cab 4WD||$1,909|
|Nissan Altima 2.5 4-Dr Sedan||$1,901|
|Volkswagen Jetta LE 4-Dr Sedan||$1,908|
|Toyota RAV4 Sport 2WD||$1,901|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,928|
|Ford F-150 FX2 2WD||$1,935|
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Data based on single female driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Estimates do not factor in Jersey City, NJ location which can revise prices significantly.
Based upon these rates, we can assume that makes and models like the Honda CR-V, Honda Accord, Ford Escape, Toyota Prius, and Dodge Grand Caravan will be a few of the cheaper vehicles to insure for older drivers. The price for an auto insurance policy will be more costly because there is more risk for drivers over age 70, but in general those specific models will probably have the lowest insurance prices possible.
For older drivers, one of the big components that are looked at to determine the cost of insurance is where your car is garaged. Cities with more crime and/or more people will most likely have higher rates, whereas areas with less congestion benefit from lower coverage costs.
The information below shows the highest-priced places in New Jersey for drivers over age 70 in which to purchase auto insurance. Jersey City ranks #10 with an annual rate of $2,276 for the average insurance policy, which is around $190 monthly.
|Rank||City||Premium Per Year|
|2||West New York||$2,531|
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Premium amounts are estimated as the specific zip code location can increase or decrease premiums significantly.
Get discounts on Jersey City auto insurance rates
Insurance providers that sell policies for drivers over age 70 could also offer special discounts that could reduce prices by as much as 35% if you can meet the requirements. Larger auto insurance companies and a partial list of their discounts are:
- American Family offers discounts including accident-free, TimeAway discount, bundled insurance, multi-vehicle, Steer into Savings, good driver, and defensive driver.
- State Farm has discounts for good student, anti-theft, multiple autos, defensive driving training, passive restraint, safe vehicle, and multiple policy.
- 21st Century has savings for homeowners, 55 and older, good student, teen driver, and air bags.
- Travelers offers premium reductions for new car, hybrid/electric vehicle, continuous insurance, early quote, and multi-car.
- GEICO may include discounts for military active duty, driver training, daytime running lights, anti-theft, multi-vehicle, good student, and federal employee.
The illustration below shows the difference between insurance costs with and without discounts applied to the rates. The premiums assume a female driver, no claims or violations, New Jersey state minimum liability limits, full coverage, and $100 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with claim-free, multiple policy, vehicle safety, passive restraint, homeowner, and anti-theft discounts applied. When taking advantage of discounts, the average savings per year on auto insurance for drivers over age 70 is 28% or $971.
Cost comparison with and without full coverage
Saving on auto insurance is the goal of most drivers, and a good way to pay lower rates for insurance for drivers over age 70 is to only buy liability coverage. The diagram below illustrates the comparison of insurance prices with full physical damage coverage compared to only buying liability only. The data assumes no claims or violations, $100 deductibles, marital status is single, and no discounts are applied to the premium.
Averaged out for all age groups, physical damage coverage on your policy costs $2,745 per year more than just insuring for liability. That amount may make you wonder if buying full coverage is a waste of money. There is no clear-cut formula for dropping physical damage coverage on your policy, but there is a general convention. If the annual cost of having full coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.
How to find budget-friendly insurance for drivers over age 70
It is possible to find better rates, and here are some of the recommended money-saving suggestions that can help Jersey City drivers buy more affordable coverage.
- Avoid accidents
- Insure your home and auto with the same company
- Better credit scores save money
- Save money by staying claim-free
- Drive safely
- Raise comprehensive and collision coverage deductibles
- Shop around and save
That last idea is remarkably vital, as we discussed in the prior information. Car insurance rates in Jersey City can change significantly in a year, so you should be ready to buy from a different company if a more affordable price is available. Loyalty to a specific company is fine, but it’s not a good idea if that loyalty results in overpaying a considerable chunk of change every month. In just a few minutes you could compare rates and find cheaper car insurance for drivers over age 70.
The Jersey City auto insurance agencies shown below can provide answers to your questions and help you determine which is the best policy, since lots of people like to get some guidance when trying to find lower insurance rates for drivers over age 70. It can be hard to find the cheapest rates, and agents can give you satisfaction knowing your coverage gives you adequate coverage when you need it most.
To locate a Jersey City insurance agent closest to you, click the link at the bottom.
2330 John F. Kennedy Blvd – Jersey City, NJ 07304 – (201) 435-4300
State Farm Insurance – Freddy Duran
1025 Summit Ave – Jersey City, NJ 07307 – (201) 604-3874
MOMS Insurance Agency
155 Martin Luther King Dr B – Jersey City, NJ 07305 – (201) 451-3200
07305, 701 NJ-440 – Jersey City, NJ 07304 – (201) 515-3499