Lakewood, NJ Car Insurance

The average auto insurance policy in Lakewood costs $142 per month. If you're paying too much, compare rates today.

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What's the average cost of car insurance in Lakewood?

 

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 AUTO INSURANCE RATES
Lakewood Average (per year)New Jersey AverageUnited States Average
$1,711$1,592$1,548
 
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Lakewood auto insurance rates by insurer

 

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.

 
LAKEWOOD CAR INSURANCE RATES BY COMPANY
InsurerAverage Yearly Rate
New Jersey Manufacturers$1,460
GEICO$1,516
Progressive$1,678
Allstate$1,695
Travelers$1,699
 

Read our guide to the best cheap auto insurance.

 

Lakewood auto insurance premiums by age

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.

 
LAKEWOOD AUTO INSURANCE COSTS BY AGE
AgeAverage Annual Rate
Teenagers$6,451
20s$2,390
30s$1,696
40s$1,661
50s$1,591
60s$1,655
70s$1,859
 

Learn more about how age influences auto insurance rates.

 

Lakewood car insurance premiums by gender and marital status

 

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.

 
INSURANCE RATES IN LAKEWOOD BY MARITAL STATUS AND GENDER
Marital Status/GenderAverage Annual Rate
Female$1,762
Male$1,711
Single$1,714
Married$1,647
Divorced$1,711
Widowed$1,694
 

Learn more about how gender and marital status impact insurance rates.

 

Lakewood car insurance premiums by citation and accident history

 

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.

 
AVERAGE LAKEWOOD INSURANCE RATES AFTER A VIOLATION OR ACCIDENT
ViolationAverage Yearly Rate
DUI/DWI$3,098
Reckless Driving$2,754
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
 

Get more info on how a bad driving history can impact your car insurance costs.

 

Lakewood auto insurance rates by credit tier

 

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.

 
LAKEWOOD AUTO INSURANCE RATES BY CREDIT LEVEL
Credit ScoreAverage Rate (annual)
Very Poor$4,237
Fair$2,279
Good$1,711
Very Good$1,522
Exceptional$1,323
 

Learn more about how your credit score might impact your auto insurance rates.

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Ross Martin LinkedIn

As a licensed insurance agent, Ross is responsible for researching and writing about all matters related to auto and home insurance. He has a background in writing and education, as well as a master's degree from Royal Holloway, University of London. He has been quoted by CNET, iDriveSafely.com, and Kin Insurance.