Comparing rates for affordable auto insurance is not the easiest thing to accomplish, and finding out which companies offer the cheapest auto insurance rates with multiple speeding tickets calls for a bit more work. Each auto insurer uses slightly different criteria for determining rates, so let’s begin by examining the auto insurance companies that tend to have lower prices in New Jersey.
It’s a good idea to know that New Jersey auto insurance rates are calculated based on many things which can substantially change the price you have to pay. Taking a driver safety course, increasing deductibles, or getting a ticket for careless driving can trigger price changes that can now make some companies higher when they were quite affordable.
Compare Cheap Insurance Quotes with License Points
|Rank||Company||Cost Per Year|
|3||New Jersey Manufacturers||$1,297|
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21st Century may offer some of the cheapest car insurance rates in Jersey City at around $1,078 annually. This is $774 less than the average rate paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades would also make the list of some of the cheaper Jersey City, NJ insurance companies.
As the example above demonstrates, if you currently buy coverage from Penn National and switched to 21st Century, you may realize an annual savings of in the neighborhood of $247. Insureds with Palisades could save as much as $317 a year, and The Hartford customers might reduce prices by as much as $398 a year.
Remember that these policy prices are averages for all drivers and vehicles and and are not calculated with a specific location with multiple speeding tickets. So the company that fits your age and vehicle best may not even be in the top 19 companies in the list above. That points out the importance of why you need to get rate quotes from many companies using your own driver data and vehicle information.
The vehicle model requiring insurance is probably the largest consideration when shopping around for low-cost car insurance with multiple speeding tickets. Vehicles with high performance, a lack of modern safety features, or a high likelihood of having liability claims will cost quite a bit more to insure than safer models. The next table presents auto insurance premiums for a handful of the most economical automobiles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$1,725|
|Volkswagen Jetta S 2.5 Station Wagon||$1,834|
|Honda Accord EX 4-Dr Sedan||$1,845|
|Ford Escape XLS 2WD||$1,853|
|Hyundai Elantra GLS Touring Station Wagon||$1,845|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,889|
|Ford Explorer XLT 4WD||$2,064|
|Ford Edge SEL 2WD||$2,138|
|Honda Odyssey Touring||$2,148|
|Dodge Grand Caravan Hero||$2,182|
|Chevrolet Impala LT||$2,192|
|Toyota RAV4 Limited 2WD||$2,187|
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Premium data assumes married female driver age 30, two speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, and claim-free. Information does not factor in your specific Jersey City, NJ location which can revise rates greatly.
Looking at the numbers, makes and models like the Honda CR-V, Volkswagen Jetta, Honda Accord, and Ford Escape are likely to be the most budget-friendly vehicles to insure after a few driving violations.
After a few driving violations, one of the big factors that help determine the annual cost of car insurance is where your residence is in Jersey City. Regions with larger populations or more claims will most likely have higher rates, whereas areas with lower crime rates and fewer weather claims receive better rates.
The illustration below shows the most expensive places in New Jersey with multiple speeding tickets to purchase car insurance in. Jersey City makes the list at #10 with the annual price of $2,322 for car insurance, which is approximately $194 per month.
|Rank||City||Premium Per Year|
|1||West New York||$2,531|
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Premium costs are comparative as the specific zip code location can modify coverage rates considerably.
Careless Jersey City drivers pay higher rates
The obvious way to maintain the cheapest auto insurance prices in New Jersey after a few driving violations is to be a careful driver and avoid accidents and keep your driving record clean. The example below demonstrates how traffic citations and at-fault collisions raise insurance rates for different age groups. Data assumes a married female driver, comp and collision included, $500 deductibles, and no discounts are applied.
The data in the chart shows the average cost of an auto insurance policy in Jersey City per year with a clean driving record and no accidents is $2,305. Receive two speeding tickets and the average cost increases to $3,276, an increase of $972 each year. Now add in two accidents along with the two speeding tickets and the 12-month cost of auto insurance with multiple speeding tickets jumps again to an average of $7,105. That’s an increase of $4,801, or $400 per month, just for being a less-than-perfect driver!
Full coverage or liability only
Saving on auto insurance should be important to most vehicle owners, and one common way to lower the cost of insurance with multiple speeding tickets is to buy liability only. The chart below illustrates the comparison of insurance costs with full coverage compared to only the New Jersey minimum liability coverage. Data assumes a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are single, and no policy discounts are applied.
Averaged for all age groups, physical damage coverage on your policy costs $2,681 per year over and above liability only. At some point, about every driver wonders if paying for full coverage is a waste of money. There is no definitive guideline that works best for making the decision to drop comp and collision coverage, but there is a guideline you can use. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
Who has the cheapest Jersey City car insurance?
Jersey City, NJ auto insurance rates are calculated based on many things that can increase the price you pay for coverage. Simply improving your credit, moving to a different location, or having a fender bender can produce rate changes resulting in some companies being more affordable than others. Not only may things change on your end, but insurance companies change prices every year to adjust for unexpected claims or profits. Significantly higher losses may result in increased rates, while long-term profits can cause more affordable Jersey City car insurance rates.
To help illustrate this point, the data below demonstrates which company has the cheapest car insurance in Jersey City, NJ for a 45-year-old male driver with no accidents or violations, and a decent credit rating. If we estimate rates based on his current rating profile, 21st Century has the cheapest car insurance rates in Jersey City at $1,394 annually. This is $458 less than the average rate paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Palisades, and Penn National round out the rest of the cheapest Jersey City, NJ auto insurance companies.
The next chart shows rates after we give the driver from the first rate comparison a claim or two, bad credit, and a speeding citation. Since each auto insurance company has a proprietary formula to establish rates, analyzing rates could result in a different set of the cheapest Jersey City car insurance companies as shown below.
The Hartford now has the cheapest rate in Jersey City with Allstate, USAA, Mercury, and Travelers now rounding out the top five. This example shows why it is critical to shop around to find affordable car insurance rates with multiple speeding tickets. Car insurance prices are calculated by many things and can increase or decrease at any time, so the most economical company the last time you compared rates may now cost much more than other companies.
If you prefer to get some guidance when shopping around for cheaper insurance after a few driving violations, the professional agents shown below can provide answers to your questions and help you determine which car insurance policy is best. To locate an agency in your neighborhood, click the button following the list or click here to compare prices now.
- AllState Agent
07305, 701 NJ-440 – Jersey City, NJ 07304 – (201) 515-3499
- Cheap Car Insurance Quotes Auto Newark NJ
268 W KINNEY ST – Newark, NJ 07103 – (888) 290-0635
- Hemant Jiwnani – State Farm Insurance Agent
2770 John F Kennedy Blvd, FL-1 – Jersey City, NJ 07306 – (201) 653-1770
- Preferred Choice Insurance Agency
225 Newark Ave – Jersey City, NJ 07302 – (201) 616-7644
- Jared Bush – State Farm® Insurance Agent
725 John F. Kennedy Blvd – North Bergen, NJ 07047 – (201) 325-8880
More insurance agents in Jersey City, NJ
How to find more affordable insurance with multiple speeding tickets
The list below shows a few thrifty solutions that can help New Jersey drivers quote low-cost car insurance.
- Prevent rate increases by staying accident-free
- Buying home and auto insurance together can earn discounts
- Do not file small claims
- Safe vehicles cost less to insure
- Do not get traffic tickets
- Comparison shop at least every other year
That last idea is notably significant, as was pointed out in this piece. Rates can change considerably in a year, so don’t be hesitant to buy from a different company if a lower price can be found.
Many drivers prefer to stick with one company, but it’s not recommended if your bullheadedness ends up costing you big bucks every year. Now is a great time to compare rates to find cheaper car insurance with multiple speeding tickets in Jersey City.