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How much is car insurance in New London?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, it is around $19 a month cheaper to insure your vehicle in New London than it is in the rest of Connecticut.
Conversely, residents of New London might expect to pay higher rates for coverage than the rest of the country. Coverage in New London is about $14 more expensive than it is for the rest of the U.S.
While these are the average car insurance rates for New London, keep in mind that you could end up paying a different amount. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Your bill each month is calculated off of your age, gender, vehicle make and model, driving record, and even your credit score depending on the circumstances.
We've broken down average rates for New London to help you understand what your policy's monthly premium will cost. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP Code below to learn more about rates in your area!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
Generally, the older you are the more experienced you are behind the wheel, right? When it comes to your monthly premium, that experience can really pay off. According to the table above, you can see that 18-24-year-olds pay two times as much as drivers 65 and older.
You can expect to see a decrease in your monthly premium drop about once a decade or so. As you get closer to retirement age, however, you may see your rates start to rise again in New London.
Average Car Insurance Rates by Gender
Despite the national trend of women paying less than men for insurance coverage, in New London men actually pay $80 per month for coverage while women pay $106.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|Multiple Tickets||Not Enough Data|
One of the key factors in determining your car insurance rates is your driving record. Drivers who avoid accidents and tickets will pay much lower rates than those with infractions. The rate for drivers in New London with a single accident on their record is about $161 a month. In addition, drivers with a single ticket on their record can expect to pay around $80 a month on average.
Accidents, tickets, and other driving infractions can really add up when it comes to how much you pay. In order to keep your monthly bill down and get the cheapest car insurance possible, keep your record clean and drive safely.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||Not Enough Data|
|15 Years or Older||$94|
As you can see in the first table above, the cheapest vehicles to insure in New London are by and large trucks and vans, which run about $78 per month.
Car owners, on the other hand, usually pay around $88 per month, while SUV drivers can expect to pay about $116 a month to insure their vehicle.
In addition to vehicle type, you can also expect to see slightly different rates depending on your vehicle's age. Generally, the most expensive vehicles to insure are going to be newer ones. However, once your car is about 5 years old, you may start to see your monthly premium decrease. In New London, vehicles eight-to-ten years old and six-to-seven years old are the most expensive to insure.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$97|
On average, people who are married will pay slightly less for car insurance. This oftentimes is a result of owning multiple vehicles that are on the same policy, something some companies will reward with discounts.
On a national scale, married drivers typically pay less than single drivers for auto insurance. New London is no exception, with the difference totaling to around $8 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$199|
Your living situation is another factor that affects your monthly rate. If you rent your home or apartment, expect to pay around $3 less than homeowners in New London. But if you live with your parents, your rates will be significantly higher.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your average costs, depending on your insurance company.
Car Insurance Companies in New London, CT
Recent trends in car insurance for New London drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending before shopping for coverage.
The cost of auto insurance coverage in New London had been decreasing from 2016-2017, before steadying out in 2018. Insurance rates finished down in 2021, at $61 per month
How does New London compare to neighboring areas?
Why are car insurance rates in New London different from other areas?
There are a variety of factors car insurance companies take into consideration when choosing how much to charge for coverage. While we already talked about the ones that affect your personal policy, others are based around where you live and drive. These include things like:
- Number of drivers in the community
- Road Safety (total number of local car accidents)
- Local crime rates
- Community regulations
- Access to off-street parking
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Knowing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.
How can I find the cheapest car insurance in New London?
Familiarizing yourself with patterns in the average costs of drivers like you will give you a leg up in conversations with insurance companies. Ultimately, the only way to know exactly what your rate will be is by requesting a quote from those car insurance companies.
But wait! Compare.com does all of that work for you. Simply enter your ZIP below, answer a few questions about you and your car, and you'll be comparing the cheapest quotes from dozens of car insurance companies offering auto coverage in New London.
New London Insurance FAQs
What factors affect car insurance quotes in New London?
Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your gender and age but also factors like your vehicle's year, make and model, plus your address, credit score, marital status, and driving record.
Why is the cost of car insurance in New London different from other neighboring cities?
Things like parking situations, crime rates, and local laws, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in New London?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to New London?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to New London or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.