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How much is car insurance in Cherry Hill?
|Area||Average Monthly Car Insurance Premium|
According to the chart above, the average cost of auto insurance in New Jersey is about $7 a month more expensive than it is in Cherry Hill.
The average cost of insuring your vehicle in Cherry Hill is above the national rate. The cost of insuring a vehicle in Cherry Hill is about $18 more expensive than the average rate for the rest of the U.S.
Bear in mind that while these are the average car insurance rates for Cherry Hill, you could end up paying something different. Insurance companies weigh a variety of factors when determining how much to charge you to get auto insurance. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all get factored into calculating the amount you'll be asked to pay each month.
We've analyzed the average rate for Cherry Hill and broken down the different factors to help you understand what your monthly bill might look like. And if you're not sure if you're getting the cheapest rate for your area, simply enter your ZIP below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
It makes sense that older drivers would have more experience behind the wheel, right? That experience can lead to some serious savings when it comes to auto insurance premiums. As you can see, 18-24-year-olds pay two times as much as drivers 65 and older.
For every 10 years, you can expect to see a decrease in your monthly premium. Once you hit retirement, however, you may see your rates start to rise again in Cherry Hill.
Average Car Insurance Rates by Gender
In general, female drivers pay less for car insurance than their male counterparts. This rings true in Cherry Hill, where women pay around $32 less per month than men. As illustrated in the table above, male drivers in the area pay about $110 on average, while female drivers pay around $78 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary quite a lot. Drivers who avoid accidents and tickets will pay lower rates than those with infractions. In Cherry Hill, a driving record with a single accident will usually get you a rate around $87 a month. In addition, drivers with one ticket can expect to pay around $152 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$81|
|15 Years or Older||$88|
According to the first table above, the cheapest vehicles to insure in Cherry Hill are by and large trucks and vans, at $76 per month.
SUV drivers will see rates of about $88, while the rates for car owners average out to about $103 a month.
You may also see different rates based on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. However, if your car is a few years old, you can expect to see your rates start dropping back down. In Cherry Hill, the most expensive vehicles to insure are vehicles eight-to-ten years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$106|
Generally speaking, those who have settled down into marriage will pay slightly less for car insurance coverage. This occurs because insurance companies commonly offer special discounts to policyholders with multiple vehicles that are on the same policy.
On a national scale, single drivers typically pay more than married couples do for auto insurance. Cherry Hill is no exception, with the difference totaling to around $32 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$152|
Another factor taken into consideration is your living situation. If you rent your home or apartment, expect to pay around $42 a month more than if you own your own home in Cherry Hill. Those who live with their parents, however, can expect to pay a lot more.
That being said, many companies will offer you a discount if you bundle your homeowners or rental insurance policy with your auto insurance.
Car Insurance Companies in Cherry Hill, NJ
Recent trends in car insurance for Cherry Hill drivers
Car insurance rates are frequently changing, so it's in your best interest to understand which way your area is trending before choosing when and where to shop.
Auto insurance rates in Cherry Hill increased from 2017-2018, before leveling out in 2019. They finished up in 2022, at $119 per month
How does Cherry Hill compare to neighboring areas?
Why are car insurance rates in Cherry Hill different from other areas?
There are several factors car insurance companies take into consideration when deciding how much to charge for a monthly rate. While we've discussed the ones that affect your personal policy, others are based around where you live and drive. These include things like:
- Total amount of drivers in the area
- Road safety
- Community regulations
- Local crime rates
- Access to off-street parking
You'll be hard pressed to change any of these factors yourself, but they're worth considering when thinking about the purchase of a new policy or a move. Different cities and towns will each have different rates, so guides like these are a handy way to learn more.
How can I find the cheapest car insurance in Cherry Hill?
While getting familiar with what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But wait! Compare.com does all of that work for you. Just type in your ZIP Code below, answer a few questions on you and your car, and you'll be comparing the cheapest quotes from a bulk of the car insurance companies offering coverage in Cherry Hill.
Cherry Hill Insurance FAQs
What factors affect car insurance quotes in Cherry Hill?
Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your age and gender, but also factors like your driving record, address, credit score, and marital status.
Why is the cost of car insurance in Cherry Hill 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 Cherry Hill?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Cherry Hill?
Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good 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 Cherry Hill 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.