New Jersey has seen more than a dozen of these so far.Each year, 300 fatalities and accidentsAccording to the New Jersey State Police, this figure will be in 2021. These numbers are higher than those of theYear-to-date 2020 and 2019The most fatalities of drivers per year. New Jersey drivers can be protected by purchasing adequate car insurance. Despite the fact that the state has an increasing number of accident fatalities, it is still cheaper than the average car insurance. It is helpful to compare rates of competitors to the average when shopping for car insurance.The average cost of car insurance in New Jersey is $1,757 per year for full coverage and $847 for state minimum.
Bankrate’s editorial team reviewed current premium information, obtained from Quadrant Information Services, and organized the cost of auto insurance by insurance company, city, age and driving record. Knowing what factors influence the average cost for car insurance in New Jersey can help you make informed decisions about your coverage.
What is the cost of car insurance in New Jersey?
New Jersey’s average car insurance rate is $847 per year for minimum coverage, and $1.757 per year for full coverage. New Jersey drivers tend to pay higher for car insurance than the national average of $565 per annum for minimum coverage and $1674 for full coverage.
However, New Jersey auto insurance rates are determined using a number of personal factors. Your driving record, age, credit score and driving record will all impact how much your premium is.
New Jersey auto insurance rates by company
Every auto insurance company has its own rating system, meaning that the premiums offered for the same coverage will typically be different. If you are shopping for auto insurance coverage, it may be a good idea to get quotes from several different providers. Multiple quotes allow you to compare coverages, discounts, and premiums.
New Jersey auto insurance rates by location
Auto insurance premiums may vary even within the same state. There are different annual premiums for different cities, and even different ZIP codes. It could be due to a variety of factors such as the risk of accidents, vehicle repair costs, and the cost of healthcare in your local area. Below is a table that shows the annual premium for full coverage in New Jersey’s 20 largest cities. It also compares the premiums to the state average.
How to Save on New Jersey Car Insurance
New Jersey drivers pay higher than the national average car insurance premium, but there are ways to lower your premium. To find a cheaper policy, you may want to:
- Take a look around:Each insurance company has its own business model. This means that every company will have a different rating system. TheThe cheapest companyOne person might not find the best company for them. You might get quotes from multiple providers to find the right coverage for you at a lower price.
- Utilize discounts:Discounts are offered by most insurance companies. You will pay less for car insurance if you have more discounts. You might save money by finding a company that offers multiple discounts.
- Your deductible(s), should be increasedYour collision and comprehensive deductibles will determine how much you’ll have to pay out of your pocket in the event you need to file a claim for damage or loss to your vehicle. Your premium could be reduced by increasing one or both of these deductibles. Keep in mind that you must pay your deductible if you are involved in an accident. So choosing the right level for you and your budget could be a smart move.
- Keep your driving record clean:Your driving record can have a significant impact on your premium. You can avoid tickets, accidents, and other offenses such as DUIs to lower your premium and reduce your rates.
You may have other savings options that are unique to your insurance company. An agent can help you identify savings opportunities.
Questions frequently asked
What is the monthly cost of car insurance in New Jersey?
New Jersey’s average monthly car insurance cost is about $146 for full coverage, and $71 for minimum coverage. Your individual rating factors will affect the premium.
Is New Jersey considered a no-fault State for car insurance?
Yes, New Jersey is a no-fault state, which means that you must purchase personal injury protection coverage (PIP). You and your passengers are covered for qualifying medical expenses and any other eligible expenses, regardless of fault.
What amount of car insurance do you need in NJ?
How much car insurance you need in New Jersey depends on a few factors, like the age of the drivers in your household, the type and value of the car you drive and where you live in New Jersey. The standard state minimum includes limits of $15,000 for bodily injury liability per person and up to $30,000 per accident, as well as $5,000 for property damage liability per accident.
Uninsured/underinsured motorist coverage is available up to the same selected liability amounts. Minimum coverage is required by the state to meet its PIP requirements. While some drivers might only need minimum coverage for an older vehicle, others may be able to get full coverage. If you cannot afford to fix or replace your car if it is damaged or totaled in an accident, consider full coverage car insurance.
Which is the best NJ auto insurance?
The best auto insurance in New Jersey depends on your individual needs and preferences. Consider what is important to you when choosing the best auto insurance. This includes price, coverage options, discounts, customer satisfaction, and other factors. The best car insurance company may not have the cheapest rates, but may excel in another important area for you.
