The Chrysler 300M and the Chrysler Concorde are the esteemed ancestors of the Chrysler 300 that garnered a niche market for their successor. When the Chrysler 300 was launched in 2004, it was an instant hit with auto enthusiasts and owners alike. This full-size flagship sedan is currently in its second generation. If you are considering buying a used Chrysler 300, you need to also consider the cost of insuring it, since this will be one of your annual recurring costs.
In this article, we will focus on car insurance for this four-door sedan in the tri-state area of New York, New Jersey and Connecticut.
|State||Model||Year Range||Insurance average ($)||Median Price ($)||Insurance percentage (%)|
|New Jersey||Chrysler 300||2005–12||1,987||21,495||9|
|New York||Chrysler 300||2005–12||1,345||19,995||6|
One look at the table, above, and it is clear that Connecticut has the highest insurance percentage (i.e. 10% of the median price) followed by New Jersey (9%) and New York (6%).
Again, one must not only look at the insurance percentage, but also consider the median price very carefully. The median price of the Chrysler 300 is higher in New York when compared to Connecticut. In New York, it is approximately $19,995 and in Connecticut it is approximately $19,250, and the difference would be $745. However, the insurance average being the lowest in New York, owning a Chrysler 300 in New York for 5 years would cost you $26,720 (inclusive of the cost of the vehicle and insurance costs), which is much less than the cost of owning the car in New Jersey ($31,430) or Connecticut ($29,550).