New Jersey had 276,861 automobile accidents in 2019. 524 of these crashes resulted in injuries, and 59,850 were fatal. New Jersey is small but it has more 6.3 millions of licensed drivers. New Jersey residents have the option of purchasing car insurance beyond what is required by law. It is an essential part of your financial safety net.
The average cost for car insurance in New Jersey for minimum coverage is $847 per year and $1757 per year for full coverage. This is higher than the $565 national average annual rate and $1,674 to get full coverage. It is an expense that you will need to cover, so you might be searching for the lowest car insurance rates in New Jersey. Bankrate’s editorial team in insurance has done extensive research on the major insurers in New Jersey to help you choose a policy that suits your needs.
New Jersey has the cheapest car insurance
We first obtained the most current premium information from Quadrant Info Services, which lists the top New Jersey insurance companies based on market share. Then, we analyzed the premiums and took into account available discounts as well as coverage options.
These companies may be a good choice if you’re looking for the best auto insurance in New Jersey.
NJM
New Jersey Manufacturers Insurance Company (also known as NJM) could be a good choice if you only need minimum coverage. Our research shows that NJM provides the lowest minimum coverage per driver in the Garden State. However, your premium may vary depending on your individual rating factors.
NJM has several discounts that could help lower your premium, even though its average rates are lower than the state’s. Take a defensive driving course or sign up for electronic payments. You may also save money by being a mature driver and bundling your auto insurance with a home policy.
Geico
Geico is not the most affordable provider, but it is well-known for its low premium and long list discounts. Geico is a great option if you prefer to manage your policy online or through a mobile app. Geico’s mobile app lets you file claims, pay bills, and request roadside assistance.
Geico received an above-industry-average ranking in the 2020 J.D. The Mid-Atlantic Power U.S. Auto Insurance Study may have indicated that New Jersey customers are happy with the company’s customer services.
Travelers
Travelers may be a good choice if you’re looking for additional coverage. The average premium for full coverage is much lower than New Jersey’s and there are many optional coverages. To increase your protection, you might consider adding ridesharing, accident forgiveness or new car replacement coverage.
When it comes to savings, Travelers is not disappointed. You can get discounts on safe driving, continuous insurance, electric or hybrid car, homeownership, and even continuous insurance. The 2020 J.D. Scores showed that Travelers scored just below the industry average in Mid-Atlantic. Power U.S. Auto Insurance Study.
State Farm
State Farm is the most popular private auto insurance in the United States. It offers the lowest full coverage premium in New Jersey. This company provides many coverage options including ridesharing, emergency road service and rental car coverage.
State Farm offers discounts on several programs, including Drive Safe & Save & Steer Clear. These safe driving programs are geared towards adults and teens. State Farm also holds the highest J.D. The company also has the highest power score in Mid-Atlantic.
Progressive
Progressive Insurance is a well-respected insurance company that offers products such as auto, home, and business insurance. You can use the company’s Name Your Price tool to input the monthly amount you wish to pay for insurance and returns options that fit your budget.
Progressive offers a variety of optional coverages such as lease payoff or a deductible savings account. There are also discounts such as continuous insurance, online quotes and policy management that can be done electronically. However, Progressive did receive a below-industry-average score from J.D. The Mid-Atlantic region is home to power.
New Jersey drivers must have minimum coverage
New Jersey drivers have two choices when it comes to buying the state’s minimum coverage. The basic policy or the standard policy.
The policy’s basic features include:
- Optional bodily injury coverage up to $10,000 per accident
- $5,000 property damage per accident
- $15,000 Personal Injury Protection (PIP).
The basic policy does not provide coverage for uninsured motorists or underinsured drivers. If you select a basic policy, some insurers might not offer collision or comprehensive coverage.
The following are the basic features of a standard policy:
- $15,000 bodily injury liability insurance per person
- $30,000 bodily injury liability coverage per incident
- Accident coverage for $5,000 property damage
- $15,000 Personal Injury Protection (PIP).
Uninsured motorist coverage is available on a standard policy. Underinsured motorist coverage is also available. Comprehensive coverage and collision coverage are also options. This article discusses minimum coverage premiums for a standard policy that includes uninsured or underinsured motorist coverage.
New Jersey is a state that pays your insurance company for all medical expenses. This applies regardless of the cause of the accident. Depending on which policy you have, your right to sue for your injuries to the at-fault party will vary.
You may be charged the lowest rate if you buy the minimum coverage. If you are involved in an accident, the minimum coverage might not cover your costs for injuries or property damage. If you are underinsured, you could have to pay more than your coverage limit or the amount you owe.
Minimum coverage does not include coverage for damage to your vehicle. You will need full coverage if you want or need coverage for your car. Your lender may require that you purchase full coverage insurance if you are obtaining a loan or lease.
How to Get Cheap Car Insurance in New Jersey
There are many ways to lower your premium if you’re looking for cheap New Jersey car insurance. Your individual rating factors (such as your driving record, age, and type of car) will determine your premium.
- You can increase your deductible: A higher collision or comprehensive deductible will generally result in a lower rate. It also means that you will be responsible for any damage to your vehicle if you file a claim.
- Completing a defensive driving class: Insurance companies often offer discounts to drivers who complete a approved defensive driving course.
- You might be able to save money if you pay your premium in advance.
- Bundle your policies. You can save a lot if you combine multiple insurance policies from the same provider.
- Increase your credit score. Drivers with higher credit scores tend to pay less for car insurance.
- Compare rates: A comparison of quotes from different providers may help you determine which provider offers the best rate for your coverage.
Reconsidering your car could help you save money on your insurance, even though it is not always practical. In general, some vehicles are more affordable to insure than other. A clean driving record can help you avoid higher premiums. This means that you have not been in any accidents or tickets.
Questions frequently asked
Which is the best New Jersey car insurance?
The best New Jersey insurance company is the one that meets your needs. There are many providers available, each with their own strengths and weaknesses. Some companies offer the best customer service while others provide the best discounts and coverage options. Each driver is different and has their own needs when it comes to car insurance. It is a good idea to shop around for the best car insurance provider before you make a decision.
What is the average cost for car insurance in the United States?
The average cost for car insurance in is $1674 annually for full coverage, and $565 annually to get minimum coverage. New Jersey drivers pay an average cost of car insurance each year of $847 for minimal coverage and $1757 for complete coverage.
Is New Jersey required to have car insurance?
New Jersey law requires that car insurance be purchased. Each driver who owns a vehicle registered in New Jersey must have the minimum amount of insurance. There are two types of minimum coverage in New Jersey: a basic or standard policy. Which policy you choose will affect the coverages available, the limits of coverage, and your ability to sue for damages after an accident.
