Who Has the Cheapest Auto Insurance Rates for High Mileage Drivers in Jersey City?

The words “cheap” and “insurance” really should not be used together, in particular when comparison shopping for the best car insurance for high mileage drivers. Because it’s not cheap, let’s get started by showing you some things that have a considerable impact on insurance prices, and find some ways to cut the cost of your next policy.

Establishing which company quotes the most affordable insurance rates for high mileage drivers calls for a little more effort in order to find the lowest price quote.

Every car insurance company has their own unique process to determine premium rates, so we will examine the insurance companies that tend to have lower prices in Jersey City.

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What’s the cheapest car insurance in New Jersey?
Rank Company Cost Per Year
1 21st Century $1,100
2 Travelers $1,180
3 New Jersey Manufacturers $1,297
4 Penn National $1,338
5 Palisades $1,354
6 California Casualty $1,451
7 Allstate $1,493
8 The Hartford $1,521
9 USAA $1,538
10 Mercury $1,587
11 Amica $1,813
12 Progressive $1,862
13 Esurance $1,913
14 MetLife $1,951
15 State Farm $2,160
16 GEICO $2,174
17 Encompass $2,327
18 Liberty Mutual $2,890
19 Hanover $3,987
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21st Century may offer some of the lowest car insurance rates in Jersey City at around $1,100 each year. Travelers, New Jersey Manufacturers, Penn National, and Palisades also are some of the cheaper Jersey City, NJ car insurance companies.

As illustrated above, if you are currently insured with Travelers and switched to 21st Century, you might realize savings of roughly $80. Policyholders with New Jersey Manufacturers may save as much as $197 a year, and Penn National customers might lower prices by up to $238 a year.

To get a fast rate comparison, click here to get quotes or visit any of the companies below.

Bear in mind that those policy prices are averaged across all drivers and vehicles in New Jersey and do not take into consideration a specific zip code for high mileage drivers. So the company that fits your age and vehicle best may not even be in the top 19 companies in the list above. That emphasizes why you need to compare rates from multiple companies using your own driver information and specific vehicle type.

The make and model of vehicle that needs insurance is one of the primary factors when trying to find the most affordable insurance for high mileage drivers. Vehicles with lots of speed or power, poor passenger safety features, or high incidents of liability claims will cost quite a bit more to insure than safer models.

The next list illustrates insurance premiums for a number of the more affordable automobiles to insure in New Jersey.

Cheapest Vehicles to Insure in Jersey City, NJ
Make and Model Estimated Cost for Full Coverage
Ford F-150 XL Regular Cab 2WD $1,473
Ford Escape XLS 2WD $1,561
Honda CR-V LX 2WD $1,569
Chevrolet Impala LT $1,688
Toyota Camry XLE $1,780
Toyota Prius $1,782
Jeep Grand Cherokee Limited 2WD $1,812
Chevrolet Equinox LTZ AWD $1,822
Ford Explorer Eddie Bauer 2WD $1,812
Chevrolet Malibu LTZ $1,819
Volkswagen Jetta 2.0T Station Wagon $1,839
Toyota Tacoma Double Cab 4WD $1,847
GMC Sierra SLE Crew Cab 2WD $1,856
Toyota RAV4 Limited 4WD $1,847
Ford F-350 XLT Crew Cab Lariat 2WD $1,876
Dodge Grand Caravan Crew $1,885
GMC Sierra 2500HD SLT Extended Cab 4WD $1,901
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Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Rates do not factor in specific zip code location which can change coverage prices significantly.

Based on these rates, you can presume that makes and models like the Ford F-150, Ford Escape, Honda CR-V, and Chevrolet Impala are going to be some of the cheaper vehicles to insure for high mileage drivers.

One of the many things that aid in calculating the amount you pay for auto insurance is where you live in Jersey City. Cities with larger populations tend to have higher rates, whereas areas with less crime or weather claims benefit from lower prices.

The following table lists the highest-priced places in New Jersey for high mileage drivers to buy an auto insurance policy in. Jersey City comes in at #9 having an annual price of $2,322 for coverage, which is around $194 each month.

How much is car insurance in Jersey City?
Rank City Average Per Year
1 East Orange $2,521
2 Newark $2,496
3 Paterson $2,472
4 West New York $2,431
5 Union City $2,426
6 Elizabeth $2,374
7 Passaic $2,371
8 Kearny $2,358
9 Jersey City $2,322
10 Hoboken $2,307
11 Clifton $2,276
12 Bayonne $2,274
13 Linden $2,185
14 Camden $2,155
15 Fort Lee $2,081
16 Perth Amboy $2,081
17 Atlantic City $2,024
18 Hackensack $1,980
19 Plainfield $1,918
20 Trenton $1,916
21 New Brunswick $1,913
22 Lakewood $1,874
23 Sayreville $1,863
24 Vineland $1,860
25 Toms River $1,742
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Premium costs are approximated as the specific geographic location can alter auto insurance rates significantly.

Difference between full coverage and liability only rates

Saving money when shopping for insurance is the goal of the majority of people, and an effective way to find cheaper insurance for high mileage drivers is to buy liability only. The example below shows the comparison of car insurance costs with and without full coverage. The data assumes no accidents or driving violations, $1,000 deductibles, marital status is single, and no other discounts are factored in.

Averaged out for all age groups, comprehensive and collision coverage on your policy costs an extra $2,010 per year more than insuring for liability only. That touches on the question if you should buy full coverage. There is no exact formula of when to phase out physical damage coverage, but there is a guideline you can consider. If the annual cost of coverage is more than around 10% of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s pretend your vehicle’s replacement cost is $6,500 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $5,500 after paying the physical damage deductible. If you are currently paying more than $550 a year for your policy with full coverage, then you might want to think about dropping full coverage.

There are some conditions where removing full coverage is not a good idea. If you still owe a portion of the original loan, you have to carry full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage on your policy.

The illustration below highlights how deductible selection can change premium costs when trying to find cheap insurance for high mileage drivers. The price estimates are based on a married female driver, comprehensive and collision coverage, and no policy discounts are applied.

A 50-year-old driver could pocket $456 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $690 by switching to a $1,000 deductible. Youthful drivers, like the age 20 example, can cut $1,134 each year by choosing a larger deductible amount.

When choosing a higher deductible, it will be necessary to have enough in a savings account to cover the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

Compare rates to save

New Jersey insurance rates are calculated based on many things that will increase or decrease the price you pay for coverage. Getting older, adding a teenager to your policy, or getting caught speeding may cause policy rate changes that can now make some companies much cheaper than others.

In addition to those changes, car insurance companies change the rates they charge in New Jersey as needed to adjust for heavy claims or excess profits. Higher than usual claims may cause higher rates, while profitable underwriting may result in cheaper Jersey City car insurance rates.

To illustrate this point, the bar chart below shows the cheapest car insurance in Jersey City, NJ for a 30-year-old male driver with no prior claims, no tickets, and a decent credit rating. When comparing rates based on his personal risk profile, 21st Century might offer the best car insurance rates in Jersey City at $1,451 a year. This is $401 less than the average premium paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades are the remaining cheapest Jersey City, NJ auto insurance companies.

In the next rate comparison, we’ll give the driver from the first example a claim, slightly worse credit, and a couple of points charged on his driving record. Due to the fact that every auto insurer has a different formula for filing rates in each state, comparing insurance quotes most likely will result in a different ranking of affordable companies as shown below.

Allstate now has the lowest price in Jersey City, NJ with The Hartford, USAA, Mercury, and Travelers also having competitive pricing. This example illustrates why it is critical to perform a complete rate comparison when trying to get the lowest car insurance rates for high mileage drivers.

Insurance rates can be altered by many factors and change substantially, so the cheapest option when you last compared rates may now be one of the more expensive options.

The Jersey City, NJ, insurance agents below can answer your questions and help you decide which car insurance company is the best fit, as lots of drivers aren’t clear which coverage they need and would like to have some advice when comparing insurance rates for high mileage drivers. It can be hard to find the cheapest rates, and a licensed agent can add satisfaction knowing your policy gives you adequate coverage if you have an accident or claim.

To locate an agency using an interactive map, click the link after the list.

More Jersey City, NJ insurance agents