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How much is car insurance in Hoboken?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, it is around $26 a month cheaper to insure your vehicle in Hoboken than it is in the rest of New Jersey.
Compared to the national average cost of auto insurance coverage, Hoboken has lower rates. You can expect to pay about $1 less for your policy in Hoboken than in the rest of United States.
Although these are the average rates for auto insurance in Hoboken, that doesn't mean it's exactly what you'll pay. Insurance companies weigh a variety of factors when determining how much to charge you to get auto insurance. 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. And if you're not certain that you're paying the lowest option, simply enter your ZIP Code below and find out in just minutes!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
It's pretty safe to assume that the older you are, the longer you've been driving, right? That experience can turn into some real savings when it comes to car insurance bills. In this case, 18-24-year-olds pay $17 more than drivers 65 and older.
For every ten years older you get, you can expect to see a drop in your monthly premium. That said, once you hit retirement age, your rates may begin to go back up in Hoboken.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less for car insurance than their male counterparts. The price for auto insurance in Hoboken, however, is about the same for either group.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your driving record can have a tremendous impact on your car insurance rates. A clean driving record will obviously get you a lower rate than one with accidents or infractions. In Hoboken, a driving record with a single accident will usually get you a rate around $89 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $100.
Regardless of where you live, accidents, tickets, and other driving infractions can greatly increase your premium. So, if you're looking for cheap car insurance, drive carefully and keep a clean record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$77|
|15 Years or Older||$78|
If you look at the first table above, you'll see that trucks and vans are by and large the cheapest vehicles to insure in Hoboken, with drivers paying around $75 per month for auto insurance.
Car owners, on the other hand, typically pay around $79 per month, while SUV drivers can expect to pay about $82 a month to insure their vehicle.
Your rates can also vary depending on the age of your vehicle. Newer vehicles are generally 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 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|
Generally speaking, those who are currently married 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.
In Hoboken, the difference in rates based on relationship status can be as much as $18 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
One other element taken into consideration is your living accommodations. If you rent your home or apartment, expect to pay around $19 a month more than homeowners in Hoboken. But those who live at home with their parents can expect to pay significantly more.
That said, if you bundle your homeowners or rental insurance policy with your auto insurance, many companies will offer you a discount to make up for it and reduce your car insurance costs.
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 before shopping for coverage.
The cost of car insurance coverage in Hoboken dropped from 2017-2018, when it hit a low of $68, but started to rise from 2019-2020. It finished up in 2022, at $94.
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 many factors when they're choosing how much to charge for a policy. Many factors affecting your policy are based around where you live and drive. These factors include things like:
- Road safety
- Total amount of drivers in the community
- Local laws
- Off-street parking access
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Realizing 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 corner of the world.
How can I find the cheapest car insurance in Hoboken?
Arming yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
Fortunately, Compare.com does all of that work for you. Just enter your ZIP below, answer a few questions regarding the factors mentioned above, and you'll be comparing the cheapest quotes from dozens of car insurance companies that offer policies in Hoboken.
Hoboken Insurance FAQs
What factors affect car insurance quotes in Hoboken?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your gender and age, as well as your credit score, address, marital status and driving record.
Why is the cost of car insurance in Hoboken different from other neighboring cities?
Parking situations, local laws, and crime rates -- 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 Hoboken?
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 however, by using 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, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Hoboken or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.