Lakewood, NJ Car Insurance

The Zebra
July 25, 2018

Car Insurance in Lakewood

On average, Lakewood premiums exceed New Jersey's average by 6%, so being knowledgeable about premiums while insuring a vehicle in Lakewood is vital. Who doesn't like to save money? Check out some ways to save on car insurance in Lakewood.

  • City Average: $1,775
  • State Average: $1,679
  • National Average: $1,427

Lakewood Car Insurance by Accident or Violation History

Accidents and violations can cost you in terms of car insurance premiums. Reckless driving will increase your car insurance premiums more than other driving violations. Drivers with a DUI in Lakewood need to spend 54% more than the city average to insure their vehicle. Reckless driving will also bump your rates up, with typical rates of $3,249! In Lakewood, those who are found at-fault in an accident end up paying 50% more per year to insure their vehicle.

  • DUI: $2,731
  • Reckless Driving: $3,249
  • At-fault Accident (damages less than $1000): $2,656
  • At-fault Accident (damages greater than $2000): $2,656
  • Speeding Ticket (16-20 mph over speed limit): $2,371

Lakewood Car Insurance by Age

The most significant dip in premiums for Lakewood drivers happens when they reach their 20s. Once out of the teenage age bracket, they save, on average, $4,237. When drivers turn 60, they will experience a rate increase related to their age for the first time. When looking across all age groups, drivers in their 50s have the smallest car insurance payments. Their rates generally average $1,632. People in their 60s ($1,652) aren’t paying much more. With typical rates of $6,742, teenage drivers are the ones who pay the most in car insurance premiums.

  • Teenagers: $6,742
  • 20s: $2,505
  • 30s: $1,754
  • 40s: $1,715
  • 50s: $1,632
  • 60s: $1,652
  • 70s: $1,749

Lakewood Car Insurance by Gender and Marital Status

Both gender and marital status are important considerations in determining the price of car insurance in Lakewood. Married individuals save an average of $101 per year compared to those who are single or divorced. Rates for those who are widowed are marginally cheaper than rates for those who are single. Unfortunately for women, their premiums are generally 3% more costly than for men.

  • Female: $1,835
  • Male: $1,775
  • Single: $1,775
  • Married: $1,674
  • Divorced: $1,775
  • Widowed: $1,744

Lakewood Car Insurance by Credit Rating

People with Very Poor credit (300-579) typically pay more than twice as much every year for car insurance than those with Exceptional credit (800-850). In terms of percent change, the greatest benefit of better credit occurs when boosting from Very Good (740-799) to Exceptional (800-850), by which drivers can save nearly 20% per year.

  • Very Poor: $3,321
  • Fair: $2,723
  • Good: $2,296
  • Very Good: $1,883
  • Exceptional: $1,513

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