Car Insurance in Hoboken, NJ
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Why Do Drivers in Hoboken, NJ Need Car Insurance?
Hoboken is one of the most popular "bedroom suburbs" near Manhattan, with relatively quiet surroundings and many transportation options. With a population of 60,000, this city keeps a small-town feel while still providing plenty of amenities. Considering that the majority of local workers (60%) take public transportation to work, do families really need to worry about car insurance in Hoboken, NJ?
America's Commuting Capital
Hoboken happens to be the number one city in the U.S. when it comes to public transportation. Only 20-25% drive to work. Other workers:
- Take a ferry across the Hudson River
- Ride the PATH subway train between Hoboken and Manhattan
- Take NJ Transit buses
- Get to work via light rail
- Walk or work at home
Given these statistics, it's obvious that Hoboken households don't depend on vehicles as much as people in other parts of the country. That said, the more than 7,500 families that do commute by car have a long drive.
High Commute Time
In many parts of the U.S., the average commute is about 25 minutes. In Hoboken, drivers take nearly 40 minutes to get to work. Whether this means braving Manhattan streets or taking I-95 to a job in Newark, the volume of traffic on New Jersey and New York highways increases the risk of a crash. Any driver who commutes to work in a personal vehicle needs dependable car insurance in Hoboken.
Average Vehicle Ownership
A surprising number of families (nearly 30%) in Hoboken don't own any vehicles. They prefer public transportation or walking when visiting sites such as the relaxing Hudson River Waterfront Walkway. Of course, this also means that 70% of households own at least one car. Having a car can make life more convenient, allowing for more freedom when it comes to travel, recreation and shopping.
How Much Does It Cost for Car Insurance in Hoboken, NJ?
Hoboken has relatively affordable car insurance for the region. On average, drivers pay about $155 a month, or $1,850 a year. This is higher than the U.S. average but lower than many cities in New Jersey. For example, nearby Jersey City has an average cost of $170 a month. Newark coverage averages over $200 a month.
Of course, in New Jersey, car insurance rates vary considerably depending on the coverage type selected.Basic insurance may not even have bodily injury liability, whereas standard policies often include uninsured motorist coverage and personal injury protection. Use VIU by HUB to see exactly what each policy offers.
What Risks Do Drivers Face in Hoboken?
Hoboken doesn't have many car accidents, but the roads, highways and interstates in the surrounding area are a different story. Overall, the region has nearly 20,000 car accidents every year, with over 3,500 injury-related crashes and 40 fatalities.
In 2022, there was also a striking increase in vehicle thefts. with more than 20 thefts in a little over three months. For protection against theft, fire or storm damage, drivers need comprehensive coverage.
How Much Car Insurance Is Necessary in Hoboken?
To choose the right level of coverage for car insurance in Hoboken, NJ, drivers must carefully consider their circumstances and driving risks. On one hand, too little coverage can make it hard to deal with medical bills after a serious car crash. On the other hand, unnecessary add-ons are a waste of money. By comparing insurance with VIU by HUB, it's easier to make a smart decision.
This information is intended for general informational purposes only and is not intended to constitute legal advice.