The average auto insurance policy in Lakewood costs $142 per month. If you're paying too much, compare rates today.
Why you can trust The Zebra
The average cost of auto insurance in Lakewood is $1,711 per year. That's greater than than the statewide average in New Jersey ($1,592) and more expensive than the national average of $1,548. Read on to learn more about how much you can expect to pay based on your credit score, gender, marital status and other common factors in Lakewood.
|Lakewood Average (per year)||New Jersey Average||United States Average|
The best way to save on auto insurance is to compare rates from as many companies as possible, selecting the provider from which you receive the most affordable quote. For a typical insurance customer, New Jersey Manufacturers offers Lakewood's cheapest rates. Reference below the top options for affordable insurance in Lakewood. Don't forget to get car insurance quotes based on your unique driving profile.
|Insurer||Average Yearly Rate|
|New Jersey Manufacturers||$1,460|
The age bracket that pays the least for auto insurance in Lakewood consists of drivers in their 50s, who pay an average of $1,591 per year. Those in their 60s don't pay much more ($1,655).
Teenage drivers pay Lakewood's most expensive auto insurance rates. One of the most effective ways to lower your car insurance rates as a driver in Lakewood is to age out of your teens. The cost differential between the car insurance premiums paid by teenage drivers and drivers in their 20s in Lakewood is $4,061, the largest such difference between any two age brackets.
|Age||Average Annual Rate|
Marital status and gender are contributing factors to car insurance rates in many cases. In most locations in the US, single drivers pay more than married drivers based on data that says they're more likely to file claims. Married drivers in Lakewood pay $64 less than single drivers for auto insurance. Rates for those who are widowed are also much cheaper than rates for those who are single.
Gender is another factor that can affect auto insurance rates. In Lakewood, female drivers pay more for auto insurance than do male drivers: $51 per year, to be precise.
|Marital Status/Gender||Average Annual Rate|
No matter where you live, steering clear of accidents and citations is the best way to keep your auto insurance rates low. At-fault collisions, DWIs, citations for reckless driving, and speeding tickets each contribute to increases in car insurance rates. Insurance companies reward low-risk drivers with the gift of low rates.
Two of the most expensive driving violations from an insurance perspective are reckless driving and DUI. In Lakewood, a reckless driving citation results in an average insurance rate increase of $1,043 per year, compared to the citywide average. For comparison's sake, a DUI offense results in a $1,387 increase and a speeding ticket triggers a $662 rate hike.
|Violation||Average Yearly Rate|
|At-fault Accident (damages less than $1,000)||$2,080|
|At-fault Accident (damages greater than $2,000)||$2,522|
|Speeding Ticket (16-20 mph over speed limit)||$2,373|
An important insurance rating factor is credit. Drivers with checkered credit histories typically face higher car insurance rates than do drivers with good credit. In Lakewood, an improvement in credit score from the "Very Poor" tier (300-579) to the "Exceptional" tier (800-850) corresponds to a 69% drop in car insurance costs. Moving from "Very Poor" to "Fair" credit is an important step toward saving money on auto insurance. In Lakewood, improving your credit to "Fair" could help you earn a $1,958 decrease in annual car insurance rates.
|Credit Score||Average Rate (annual)|
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.
The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.