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November 29, 2021
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1 min read
Insurance Premiums in New Jersey Vary Dramatically By ZIP Code Demographics
In New Jersey, auto insurance premiums vary dramatically based on the population demographics in ZIP codes, providing more evidence of unfair discrimination and systemic racism. The statewide average annual premium is $1,460.
However, ZIP codes that have a majority white population pay an average premium of $1,355, below the statewide premium. ZIP codes that have a majority Black population pay 49.5% higher premiums than majority white ZIP codes. And ZIP codes with a majority Latino population pay 49.9% higher premiums than majority white ZIP codes. This pattern holds true for all drivers, whether they have excellent, fair, or poor credit.
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