Report: Auto Insurance Premium Costs Soar in Newark

Garden State residents continue to lead the nation in the cost of auto insurance – and that number may be climbing, according to a recently published report.

But in a twist for Essex County residents, especially those in Newark, residents there pay 30.4 percent above the statewide average in premiums, according to a posting on onlineautoinsurance.com that was published Tuesday on NorthJersey.com said.

That means the average quote for Newark is $2,780 while the statewide average comes in around $2,130, the report said.

Insurance brokers say crime rates, population density figures and racial breakdown figures account for the lower insurance rates.

Conversely, residents in the Caldwells and West Essex pay $1,550 (27.3 percent below the state average), the second cheapest rates in the county, the report said. Residents in Verona and Cedar Grove pay $1,990, 6.7 percent lower than the statewide average, the report said.