Paterson drivers pay an average of $2,398 a year to insure their vehicles. This makes the Silk City the third most expensive according to a new report released by ValuePenguin.com, a personal finance website. The analysts note that rates here are 21% higher than the New Jersey state average of $1,982.
The two cities that were more expensive and ranked higher were Newark and Passaic, with annual rates of $2,443 and $2,407, respectively. On the other end, the cheapest cities were Hillsborough, Bridgewater, and Toms River, with rates of $1,364, $1,385, and $1,593, respectively.
For more information, refer to the study: Which Cities Have the Cheapest Car Insurance in New Jersey?