How Much Does Auto Insurance Cost for Drivers Over Age 60 in New Jersey?

When shopping for cheaper car insurance for older drivers, one of the many things that help determine the annual cost of car insurance is where your residence is. Regions with larger populations or more claims like Newark, Paterson, and Union City tend to have more expensive auto insurance rates, whereas areas that tend to be more rural benefit from having to pay less for coverage.

The following table shows the most expensive areas in New Jersey for drivers over age 60 to purchase auto insurance in.

Annual rates are approximated as vehicle location can alter price quotes considerably.

Deciphering which company offers the most affordable car insurance rates for drivers over age 60 will require a little more effort in order to find the lowest price.

Every insurance provider has a unique formula to set their prices, so let’s look at the rankings for the most competitive car insurance companies in New Jersey. Keep in mind that New Jersey car insurance rates are determined by lots of factors that may substantially change the policy price. Improving your credit score, having a claim, or getting caught speeding may generate price changes resulting in some companies being affordable when they were higher priced.

Best Auto Insurance Prices for Age 60+

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21st Century generally has some of the lowest car insurance rates in New Jersey at around $1,067 annually. Travelers, New Jersey Manufacturers, Penn National, and Palisades also qualify as some of the cheaper New Jersey insurance companies.

In the above example, if you are insured with Travelers and switched to 21st Century, you might realize a yearly savings of around $78. New Jersey drivers with New Jersey Manufacturers may save as much as $191 a year, and Penn National customers might reduce rates by $312 a year.

To discover how much you can save, click here to start your custom quote or visit any of the companies below.

These rates are averages for all insureds and vehicles and are not factoring in a rate decrease for drivers over age 60. So the car insurance company that fits your age and vehicle best may not even be shown in the list above. That points out the importance of why you need to get rate quotes using your own driver and vehicle profiles.

The make and model of vehicle you are buying coverage for is one of the largest considerations that determines whether or not you find low-priced auto insurance for drivers over age 60. Vehicles with limited top-end speed, a plethora of safety features, or a low likelihood of liability claims will cost quite a bit less to insure than fast, unsafe models. The next table ranks coverage rates for a handful of the more afforable automobiles to buy insurance for.

Table data assumes single female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Estimates do not factor in vehicle garaging location which can increase or decrease coverage prices substantially.

Based upon the rates shown, we can tell that vehicles like the Ford Escape, Honda Accord, Honda CR-V, and Chevrolet Traverse will be a few of the less-costly vehicles to insure for older drivers.

How careless driving impacts car insurance rates

In a perfect world, the best way to earn low car insurance premiums in New Jersey for older drivers is to drive carefully and have a clean driving record. The chart below highlights how traffic violations and accidents can affect car insurance rates for different categories of driver ages. The prices are based on a single male driver, comp and collision included, $250 deductibles, and no other discounts are factored in.

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The data in the chart shows the average cost of auto insurance in New Jersey per year with a clean driving record and no accidents is $3,363. Add in two speeding tickets and the average cost hikes up to $4,462, an increase of $1,099 each year. Next add one accident along with the two speeding tickets and the 12-month cost of car insurance for drivers over age 60 goes up to an average of $5,583. That’s an increase of $2,220, or $185 per month, just for a couple of infractions!

Best cheap insurance quotes for older drivers

Drivers have a lot of different ways to quote car insurance rates in New Jersey, but the three most common are either through an independent or non-exclusive agent, a captive (or exclusive) agency such as Liberty Mutual or State Farm, or from a direct company like Progressive.

You can use whichever method you prefer, but buyers need to know the differences in how they give price quotes.

Independent insurance agencies write for multiple companies and can get policy pricing from all of them. These agents do not write with just one company and can get prices from more than one company, which may provide you with a better overall rate comparison. If the agent locates a cheaper price, they can switch companies in-house and you don’t have to find a new agent.

An exclusive ageny is only able to write business for just one company, a couple examples are an Allstate or State Farm agent. Exclusive agents normally do not have the ability to give you multiple price quotes, so if finding the cheapest car insurance is your goal, you will want to shop around.

Opting to purchase car insurance direct means you forego local agents and buy from a direct company like Geico or Progressive. Buying car insurance direct is good for families who do not need complex risk management and have a good understanding of the limitations of car insurance.

Which way works best to buy cheap insurance for drivers over age 60 in New Jersey? It would be easy to say buying from a direct car insurance company saves money since there is no middleman, but unfortunately, it’s not that cut and dried. And we’d like to say using an independent agent is the best way to save due to increased selection, but that idea is not necessarily true either. In some circumstances, exclusive agencies have coverage prices well below independent agents AND direct companies.

Because it’s impossible to say who has the best car insurance rates, the only true way to buy the cheapest policy is to compare, compare, and compare some more. It takes a little work, but we recommend you get quotes from all three to give yourself enough choices. For a list of companies offering online discounts in New Jersey, click here to view.