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How much is car insurance in Hoboken?
|Area||Average Monthly Car Insurance Premium|
Auto insurance coverage in Hoboken is about $28 cheaper than it is in the rest of New Jersey.
Drivers relocating from out of state may enjoy some cost savings in Hoboken. It's about $1 cheaper than the national average to insure your vehicle in Hoboken.
While these are the average car insurance rates for Hoboken, you could end up paying something different. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining your monthly premium.
But don't worry, we've broken down average rates for Hoboken residents so that you can get a more accurate idea of what you might pay. If you think you might be overpaying for insurance in your area, enter your ZIP below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
Generally, the older you are, the more experienced you are on the roads, right? That experience can lead to some serious savings when it comes to car insurance bills. As you can see, 18-24-year-olds pay $16 more than drivers 65 and older.
For every 10 years, you can expect to see a decrease in your monthly premium. Having said that, once you approach retirement your rates may begin to go back up in Hoboken.
Average Car Insurance Rates by Gender
Car insurance rates for men are usually slightly more expensive than they are for women. While female drivers pay slightly less than male drivers on their monthly auto coverage, the difference in Hoboken is only about $2 a month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. Those with clean records will obviously pay a lot less than those with infractions. In Hoboken, a driving record with one accident will usually get you a rate around $89 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $101.
Accidents, tickets, and other driving infractions can really hurt your wallet. 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||$78|
|15 Years or Older||$74|
If you look at the first table above, the cheapest vehicles to insure in Hoboken are usually trucks and vans, at $64 per month.
SUV drivers will see rates of about $83 to insure their car, while car owners by and large pay around $78 per month.
In addition to vehicle type, you can also expect to see slightly different rates based on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is a few years old, you may start to see your monthly premium drop back down. In Hoboken, the most expensive vehicles to insure are vehicles eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$83|
More often than not, married policyholders will pay slightly less for auto insurance coverage. This oftentimes is a result of owning multiple vehicles that are on the same policy, something many companies offer special discounts for.
The cost of auto insurance in Hoboken reflects the national trend of married couples paying less than single drivers to insure their vehicles, to the tune of about $18 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
Your living situation is another factor that affects your monthly rate. If you rent your home or apartment in Hoboken, expect to pay around $19 a month more than if you own your home. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
Depending on your insurance company, they may offer you a discount if you bundle your home or renters insurance with your auto policy.
Car Insurance Companies in Hoboken, NJ
Recent trends in car insurance for Hoboken drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending when deciding when and where to shop.
In Hoboken, auto insurance rates went up from 2016-2017, where they reached a high of $99, before leveling out in 2018. Rates had been increasing once again in 2019, and have continued rising through 2021, where they finished at $95 a month.
How does Hoboken compare to neighboring areas?
Why are car insurance rates in Hoboken different from other areas?
Car insurance companies will take into account several factors when they're deciding how much to charge for a policy. Where you live will also have a significant impact on your personal policy. This may include things like:
- Total number of drivers in the region
- Off-street parking access
- Area crime rates
- Road safety
It's good to be aware of these factors (even though you may not be able to do much to change them) as you shop for a new policy or consider making a move. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Hoboken?
While understanding what the average costs are for drivers like you can be helpful as you get an idea of what you might end up paying, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But wait! Compare.com will handle the heavy lifting for you. Put in your ZIP Code below, respond to a few questions, and you'll be comparing the cheapest quotes from loads of the car insurance companies that offer policies in Hoboken.
Hoboken Insurance FAQs
What factors affect car insurance quotes in Hoboken?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your age and gender, but also factors like your vehicle's make and model, year, driving record, credit score, as well as your marital status and address.
Why is the cost of car insurance in Hoboken different from other neighboring cities?
Auto insurance companies consider regional factors, such as local laws, parking situations, and crime rates into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.
Which car insurance company will offer me the cheapest rate in Hoboken?
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 Hoboken?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart 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. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Hoboken or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?