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How much is car insurance in Cherry Hill?
|Area||Average Monthly Car Insurance Premium|
Auto insurance coverage in Cherry Hill is about $7 cheaper than it is in the rest of New Jersey.
That being said Cherry Hill residents should prepare to pay higher rates for coverage than the rest of the country. You can expect to pay about $20 more for your policy in Cherry Hill.
Bear in mind that while these rates represent the expected monthly payments for Cherry Hill residents, it doesn't mean that's what you'll pay. There are a variety of factors that car insurance companies assess when determining how much to charge you to get your vehicle insured. The final dollar amount you'll be asked to pay each month is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
Don't worry, we've done the work for you and broken down the average rates for Cherry Hill to help you understand what your monthly premium might be. And if you're not sure that you're paying the lowest option, simply enter your ZIP below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The more time you've spent on the road, the more experience you have. That experience pays off when it comes to auto insurance. According to the table above, you can see that 18-24-year-olds pay two times as much as someone who is at retirement age.
You can expect to see your monthly premium drop every 10 years or so. You may see your rates climb back up a bit once you hit retirement 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 $33 less per month than men. Based on the chart above, you can see that female drivers pay around $79 on average, while male drivers typically pay $112 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|1 Ticket||Not Enough Data|
Rates can change drastically depending on your driving record. Drivers with clean records can expect to pay significantly less than those with accidents or violations. Drivers in Cherry Hill with a single accident will pay around $90 a month.
Accidents, tickets, and other driving infractions can really add up when it comes to how much you pay. In order to reduce your monthly bill and get the cheapest car insurance possible, keep your record clean and drive carefully.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$81|
|15 Years or Older||$86|
If you look at the first table above, the cheapest vehicles to insure in Cherry Hill are typically trucks and vans, at $84 per month.
Car owners, on the other hand, by and large pay around $105 a month, while SUV drivers can expect to pay about $85 per month for insurance coverage.
Vehicle age can also affect your monthly bill. Generally, newer vehicles are going to cost the most to insure. Once your car is around 5 years old, however, your monthly bill may start to dip 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)||$108|
Overall, people who are married will pay slightly less for insurance coverage. This occurs because insurance companies commonly extend special discounts to policyholders with multiple vehicles that are on the same policy.
The difference in rates based on relationship status in Cherry Hill can be as much as $32 a month, so it's worth keeping that in mind.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$147|
Your housing situation is another component of how insurance companies calculate your monthly rate. If you rent your home or apartment in Cherry Hill, expect to pay around $45 a month more than if you own property. 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 overall costs, depending on your insurance company.
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 shopping for coverage.
In Cherry Hill, auto insurance rates declined from 2016-2017, before leveling out in 2018. Rates finished down in 2021, at $94 a month
How does Cherry Hill compare to neighboring areas?
Why are car insurance rates in Cherry Hill different from other areas?
There are a variety of factors car insurance companies will consider when figuring out how much to charge for a monthly rate. Your insurance policy will depend largely on where you call home and will be influenced by things such as:
- Amount of off-street parking
- Number of drivers
- Local regulations
- Rate of car accidents
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Different towns and cities will all have different average rates, so guides like these are a great place to get started.
How can I find the cheapest car insurance in Cherry Hill?
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.
Luckily, Compare.com does all of that work for you. Simply enter your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from several of the car insurance companies providing 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 marital status, credit score, address, and driving record.
Why is the cost of car insurance in Cherry Hill different from other neighboring cities?
Crime rates, local laws, and parking situations -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Cherry Hill?
There isn't one company that will offer the cheapest rate to everybody. What companies will charge you are based on many different factors that vary from person to person, such as your driving record, what kind of car you drive, how many drivers will be on your policy, and a number of other factors. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once. That way, you can be confident you're getting the best price.
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.