Cheap Car Insurance Quotes for Low Income Drivers in New Jersey

Wouldn’t life be great if we could wave our magic wand and tell you that one special company that has the most affordable coverage for low income drivers? It’s not quite that easy, unfortunately, as there are a ton of unknown aspects like if you have any driving citations, if you own the home you live in, if you are currently insured, and the number of years of driving experience you have, that all help calculate your car insurance rates. We will try to cover these topics and should give you a good start in finding the cheapest car insurance.

When shopping for insurance for poor drivers, one of the many criteria that is used to calculate the policy price is where you keep your car in New Jersey. Areas with a lot of weather claims or more people like East Orange, West New York, and Elizabeth tend to pay more, whereas areas with less crime or weather claims have the luxury of lower rates.

The next table shows the more expensive cities in New Jersey for low income drivers to buy car insurance in.

Rates are estimated as the vehicle garaging location can modify coverage prices considerably.

The car, truck, or SUV you are trying to insure is one of the biggest factors that determines the availablility of cheap coverage for low income drivers. Vehicles with limited speed and performance, a great safety record, or a positive history of liability claims will cost much less to insure than higher performance models. The information below estimates car insurance premiums for a handful of the most economical vehicles to insure in New Jersey.

Data rating is based on married female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Information does not factor in specific location information which can influence insurance rates greatly.

Looking at the rates, models like the Honda CR-V, Toyota Prius, Chevrolet Traverse, and Hyundai Tucson will definitely be the less-costly vehicles to insure for poor drivers.

Cost difference between full coverage and liability

Finding cheap auto insurance for low income drivers in New Jersey is important to most drivers, and one of the best ways to reduce the cost of insurance is to not pay for full coverage. The diagram below compares auto insurance rates with liability coverage only compared to full coverage. The data is based on no accidents or driving violations, $250 deductibles, single marital status, and no policy discounts are applied.

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Averaged for all ages 20 through 70, comp and collision coverage costs an additional $2,515 per year over and above liability coverage. That is a big expense that brings up the question if buying full coverage is a waste of money. There is no set guideline to delete physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than about 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.