The average cost of auto insurance in Elizabeth, NJ, according to Zimlon, is $2,002. This is much higher than the average cost of auto insurance in neighboring places such as Bayonne and Cranford. It is also higher than the state average of New Jersey. Residents of Elizabeth can save up to $800 by comparing multiple auto insurance quotes. Auto insurance depends on numerous factors ranging from the make and model of the vehicle to the driver’s age.

Insurance Requirements in New Jersey:

• Bodily injury liability: $10,000 for all persons per accident.

• Property Damage Liability: $5,000 per accident.

• Personal Injury Protection: $15,000 per person per accident.

Demographics:

The cost of auto insurance depends on the driver’s age and gender. Women are generally considered to be safe drivers, making auto insurance cheaper for them. As the above infographic indicates, auto insurance is the most affordable for married women and senior men at $1,801 and $2,282, respectively. Auto insurance is expensive for teenagers since they lack driving experience. The average cost of auto insurance for teenagers in Elizabeth is $5,165.

Neighborhood:

The neighborhood one lives in Elizabeth can also have an impact on the cost of auto insurance. Zimlon offers the option of keying in one’s zip code to get accurate auto insurance quotes from multiple auto insurance companies. Depending on several factors like the make and model of the vehicle and the rate of auto thefts in the neighborhood, the price can vary within the city. 

Driving Record:

The driving record of car owners also has a direct impact on the cost of auto insurance. Getting charged for offenses such as DUI and driving without a proper license can have a long-term impact on Elizabeth’s cost of auto insurance. Post-DUI, the average cost of auto insurance increases to $3,723. This increases to $10,313 for male teenagers and $8,712 for female teenagers.

Deductible:

Deductibles are among the most common factors affecting the rate of auto insurance in the country, and Elizabeth is no different. A higher deductible leads to a decrease in the cost of auto insurance, while a low deductible can lead to an increase. The average cost of auto insurance on a low deductible ($500) for a GMC, Yukon XL 2500 SLT, is $2,520. This goes down to $2,360 when the deductible is higher ($1,000).

Credit Score:

A healthy credit score will also determine the cost of one’s auto insurance. Possessing an “exceptional” or “good” credit score will reduce the cost of auto insurance for the car owner, while a “poor” credit score can lead to a substantial increase in Elizabeth.