What is the cheapest auto insurance in New Jersey?

New Jersey had 276,861 automobile accidents in 2019, and these crashes injured 59,850 people and killed 524. New Jersey has 6.3 million licensed drivers. In New Jersey, automobile insurance is more than a legal obligation. It also serves as a financial safety net. The auto insurance in New Jersey costs $847 for minimum coverage and $1,757 for full coverage, compared to $565 for minimum coverage and $1,674 for full coverage nationally. You may be seeking the lowest vehicle insurance in New Jersey. 

cheapest auto insurance in New Jersey

Cheapest auto insurance in New Jersey

First, we gathered current premium data from Quadrant Information Services for the central New Jersey insurance carriers by market share. We then compared premiums, taking into account coverage options and discounts.

If you’re shopping for affordable vehicle insurance in New Jersey, you should consider these companies:

NJM

NJM, or New Jersey Manufacturers Insurance Company, may be a suitable alternative if you only need basic coverage. However, your premium will vary dependent on your particular rating variables.

New Jersey Mutual provides many reductions that could reduce your payment even further. You can take a defensive driving course, sign up for electronic payments, be a mature driver, or bundle your auto and house insurance.

Geico

However, Geico is known for its low average premium and broad list of discounts. Geico is also an excellent option if you are interested in managing your insurance online or via a mobile app because the app lets you make claims, pay bills, and get roadside help.

According to the 2020 JD Power US Auto Insurance Study in the Mid-Atlantic region, most New Jersey customers are satisfied with Geico’s customer service.

Travelers

You can choose Travelers if you want particular optional coverages. The company’s average total coverage premium is substantially below New Jersey’s average. You can also add accident forgiveness, new car replacement, or ridesharing coverage to boost your protection.

Several savings opportunities abound for Travelers and in addition, Homeownership, careful driving, and ongoing insurance are all discounts.

State farm

State Farm, the nation’s largest private vehicle insurer, has the lowest average total coverage premium in New Jersey. The company offers emergency road service, ridesharing, and automobile rental coverage.

State Farm also offers discounts for its safe driving programs for adults and teens, Drive Safe & Save and Steer Clear. They also have the Mid-highest Atlantic’s JD Power score.

Progressive

Progressive offers auto, home, and business insurance. The company’s innovative ‘Name Your Price’ tool allows you to customize your monthly insurance and returns coverage costs.

Progressive also offers lease payment and a deductible savings bank.  It enables you to save with continuous insurance, online quotes, and paperless policy administration. 

Minimum coverage requirements for auto insurance in New Jersey

Drivers in New Jersey have two options for acquiring the state’s minimum coverage: basic and standard.

The basic policy includes:

  • $10,000 in optional bodily injury coverage per accident 
  • $5,000 in property damage coverage per accident (PIP)
  • $15,000 personal injury protection (PIP)

The basic policy excludes uninsured/underinsured motorist coverage. A basic policy may also exclude comprehensive and collision coverage.

The standard policy includes:

  • $15,000 per person bodily injury liability coverage 
  • $30,000 per accident bodily injury liability coverage
  • $15,000 Personal injury protection  
  • $5,000 per accident (PIP) property damage coverage

Uninsured motorist, underinsured motorist, comprehensive, and collision coverage are all options on regular insurance. A conventional policy with uninsured and underinsured motorist coverage is given in detail in this article.

Your insurance company covers your medical expenses and any passengers in an accident in New Jersey, regardless of who caused the accident but injury lawsuit rights vary depending on the sort of coverage you choose.

You may pay the lowest rate if you buy the bare minimum however, it may not be enough to cover injuries and property damage if you cause an accident. If you are underinsured, you may have to pay the difference between your coverage limit and what you owe.

The minimum coverage also excludes coverage for damage to your car, and full coverage is required if you want coverage for your vehicle. Your lender may need full coverage insurance if you have a loan or lease.

How to get cheapest auto insurance in New Jersey

There are various ways to get affordable vehicle insurance in New Jersey but remember that your rate is based on factors such as automobile type, age, and driving history.

  • A higher deductible: If you have complete coverage, a greater comprehensive or collision deductible lowers your cost. A claim for your vehicle will be costlier because of this.
  • Defensive driving course: If you complete an approved defensive driving course, many insurance companies will give you a discount.
  • Paying policy in advance: In some cases, paying your annual payment in whole rather than monthly can save you money.
  • Bundle your policy: Bundle your policies to save money.
  • Raise credit score: Those with a higher credit score are likely to pay less for vehicle insurance.
  • Shop around: If you are looking for a lower premium to save money, seeking estimates from several companies will help you find the best deal.

Even if it isn’t always practicable, changing your car could save you money on insurance and the insurance cost of some vehicles is less than others. An accident-free driving record might also help you prevent premium rises.

Methodology

All 50 states and Washington, DC use Quadrant Information Services to analyze 2021 rates. A 40-year-old male/female driver with a clean driving record, decent credit, and total coverage limits of:

  • $100,000 per person bodily injury liability
  • Liability for physical injury of $300,000 per accident
  • Liability for property damage is $50,000 per accident.
  • Uninsured motorist bodily harm per person: $100,000
  • Uninsured motorist bodily injury of $300,000 per accident
  • Collision deductible of $500
  • Deductible for the entire year is $500.

We calculated minimal coverage levels according to state rules. There was also uninsured/underinsured motorist coverage up to the same minimal limits in New Jersey and our average driver commutes five days a week and drives 12,000 miles a year. These are sample rates and should only be compared.

Hope you got an idea of the cheapest auto insurance in New Jersey. Click here to learn more about auto insurance or get your coverage now.