Lakewood, NJ Car Insurance

Residents of Lakewood pay around $108 monthly for their car insurance coverage. Check out our guide below to find out how much you'll pay.
How much can residents of Lakewood expect to pay for their car insurance? Are rates in Lakewood higher or lower than those in neighboring areas? How do they compare to the rest of New Jersey? You can see the cost breakdowns and contributing factors in the charts and writeups below:  

How much is car insurance in Lakewood?

Area Average Monthly Car Insurance Premium
Lakewood$108
NJ$106
United States$81

As you can tell by looking at the chart above, car insurance rates in Lakewood are about the same as the rest of New Jersey.

If you're considering relocating to Lakewood from out of state, you may want to budget a little extra for your insurance. The average monthly payment in Lakewood is about $27 more expensive than the rate for the rest of the U.S.

While these are the average car insurance rates for Lakewood, 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. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in figuring out your monthly premium.

Don't sweat it however, we've broken down average rates for Lakewood residents so that you can get a more accurate idea of what you might pay. To find out if you're overpaying for your area, just enter your ZIP Code below and find out in minutes!

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Average Car Insurance Rates by Age

Age Range Average Premium
Under 18Not Enough Data
18-24$169
25-34$95
35-44$92
45-54Not Enough Data
55-64$84
65+$82

It makes sense that older drivers would have more experience behind the wheel. That experience can lead to some serious savings when it comes to car insurance premiums. According to the table above, you can see that 18-24-year-olds pay two times as much as drivers 65 and older.

For every ten years older you get, you can expect to see a drop in your monthly premium. Lakewood drivers may see their rates begin to increase again once they hit retirement age.

Average Car Insurance Rates by Gender

Gender Average
Male$114
Female$98

In general, female drivers pay less for car insurance than their male counterparts. In Lakewood, the difference is around $16 per month. Looking at the table above, you can see that female drivers pay around $98 on average, while male drivers typically pay $114 each month.

Average Auto Insurance Rates by Driving Record

Infractions Average Monthly Premium
1 Accident$164
Multiple Accidents$140
1 Ticket$118
Multiple Tickets$175

Your rates can vary wildly depending on your driving record. Drivers with clean records will pay lower rates than those with accidents or violations. The rate for drivers in Lakewood with a single accident on their record is about $164 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $118.

Accidents, tickets, and other driving infractions can cost you some serious cash. 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$97
2-3 Years$105
4-5 Years$99
6-7 Years$91
8-10 Years$105
11-14 Years$107
15 Years or Older$113

The most affordable vehicles to insure in Lakewood are by and large trucks and vans, which run about $98 per month.

Car owners, on the other hand, usually pay around $111 a month, while SUV drivers can expect to pay about $99 per month for auto insurance.

Your vehicle's age also plays a role in your monthly payment. Generally, newer vehicles are going to be the most expensive to insure. However, your rates may start to decrease if your car is about 5 years old. In Lakewood, the most expensive vehicles to insure are vehicles fifteen years and older.

Average Car Insurance Rates by Relationship Status

Relationship Average Monthly Premium
Single (never married)$115
Married$100
Divorced$86
Widowed$67

On average, married policyholders will pay slightly less for car insurance. This usually boils down to owners having multiple vehicles on the same policy, something some companies will reward with discounts.

At a national level, married drivers usually pay less than single drivers for auto insurance. This holds true for Lakewood as well, where the difference is around $15 a month.

Average Car Insurance Rates by Housing Situation

Housing Status Average Monthly Premium
Own$87
Rent$108
Live with parents$176

One other element taken into consideration is your living accommodations. If you rent your home or apartment in Lakewood, expect to pay around $21 a month more than if you are a homeowner. 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 Lakewood, NJ

Recent trends in car insurance for Lakewood 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.

Policy premiums in Lakewood reached a low of $106 in 2019 and a high of $87 in 2021. Otherwise, drivers paid about the same rate from 2017 to 2022.

How does Lakewood compare to neighboring areas?

Why are car insurance rates in Lakewood different from other areas?

When considering how much to charge for coverage, car insurance companies will review many factors. The price of your insurance policy will depend largely on where you live and drive and will be influenced by things such as:

  • Number of drivers
  • Community regulations
  • Road Safety (total number of local car accidents)
  • Regional crime rates
  • Amount of off-street parking

An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. 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 Lakewood?

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. Just punch in your ZIP below, answer a few questions on you and your car, and you'll be comparing the cheapest quotes from many of the car insurance companies offering auto coverage in Lakewood.

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Lakewood Insurance FAQs

What factors affect car insurance quotes in Lakewood?

Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your gender and age, but also factors like your driving record, credit score, address, and marital status.

Why is the cost of car insurance in Lakewood different from other neighboring cities?

Auto insurance companies consider regional factors, such as parking situations, crime rates, and local laws 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 Lakewood?

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 Lakewood?

Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.

Do I need to wait for my policy to expire to switch to a different car insurance company?

No. In fact, you can swap companies at any point, regardless of how much time is left on your current coverage. So, whether you're moving to Lakewood or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?

Find your best rate in just a few minutes