New Jersey motorists are paying a lot more than they were last year, according to a recent report.
Drivers across New Jersey are finding that their auto insurance rates have been on the rise, and not just by a small amount, but by a noticeable degree.
The increases that drivers are seeing differ from one part of the state to the next.
For example, Brick City residents are finding that the amount that they have been paying has shot upward. In fact, they are forking out an average of $2,780 per year, which is over 30 percent more than the average amount being paid across the entire state to cover their vehicles.
The report has shown that some drivers in New Jersey pay well over the national auto insurance average.
This has made the state one of the leaders in the list of the most expensive auto insurance rates paid across the country. Essex County residents – particularly those living in Newark – have seen their own rates skyrocket over the last while. In that region, they are currently paying 30.4 percent more than the average being paid across the state. This, according to a report issued by an online company that specializes in the industry and which was posted on NorthJersey’s website.
According to the report, while the average amount paid for auto insurance in New Jersey is about $2,130, drivers in Newark are receiving quotes for $2,780 in order to provide their own vehicles with the coverage that they need.
According to auto insurance brokers, it is the population density figures, crime rates, and even racial breakdown figures that are being used to explain the higher rates being paid by drivers in Newark when compared to those in the rest of the state.
To compare, the report also looked at the Caldwells and West Essex area, where drivers are paying $1,550, which is 27.3 percent lower than the average premiums paid by motorists in New Jersey. In fact, the report pointed out that those are the second least expensive rates in the county.
The report also showed that Cedar Grove and Verona pay 6.7 percent less than the statewide auto insurance average, at $1,990.