Cheapest Car Insurance Rates in 2023
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Cheap SR 22 Auto Insurance in New Jersey: Best Companies & Quotes
Best Car Insurance Companies in New Jersey
- State Farm
- Palisades Group
|State Farm||Geico||Progressive||Allstate||Travelers||Palisades Group|
|AM Best Financial Strength Rating||A++||A++||A+||A+||A+||B++|
|JD Power 2019 Overall Customer Satisfaction score||3/5||3/5||3/5||3/5||4.5/5||N/A|
|Avg Annual Premium||$596||$629||$1,075||$1,131||$2,580||$1,344|
|Consumer Reports Reader Score||78||78||75||72||N/A||87|
Auto Insurance Statistics in New Jersey
Auto insurance rates in New Jersey have been significantly higher than the national average for many years.
Top 10 Cheapest Car Insurance Companies in New Jersey
|Rank||Company Name||Avg. Annual Premium|
|4||New Jersey Manufacturers||$1,558|
Drunk Driving Fatalities
Drinking and driving is very dangerous and often results in fatalities. When determining the level of risk drivers face, it helps to examine the rate of drunk driving fatalities which occur. The National Highway Traffic Safety Administration has done a tally of the number of drunk driving fatalities in New Jersey vs. nationwide.
Drunk driving fatalities in New Jersey from 2013 to 2017
Teen Drinking and Driving
Teen drinking and driving in New Jersey has remained lower than the national average and lower than the average of adults drinking and driving in the state. The below statistics compare the percentage of New Jersey drivers that are teenagers who are drinking and driving related to national averages.
Teen Drinking & Driving in New Jersey vs. Nationwide (2017)
SR-22 Insurance in New Jersey
If you live in New Jersey, you will need SR-22 insurance if you're mandated to prove minimum insurance coverage by the state. This being said, New Jersey residents benefit from living in a state that has lower requirements than many other neighboring jurisdictions.
Firstly, you only need $5,000 of property damage cover on your SR-22 policy. You will also need $15,000 for liability coverage for one person, and $30,000 of liability coverage for multiple people. This is one of the lowest thresholds you'll find in the country. Still, it's worth shopping around for the best rates if you want to save money.
Car Theft in New Jersey
Car theft in New Jersey has remained under the national average for the past few years. By finding out about the rate of car theft in New Jersey, drivers will have a better idea of the level of risk they take while driving and owning a car in the state.
Vehicle thefts by rank nationwide vs. New Jersey
Uninsured Motorists in New Jersey
Driving in New Jersey without insurance can result in not having sufficient funds to cover losses incurred by an accident. In the event that you get into an accident with an uninsured or underinsured driver, it will be necessary to pay out of pocket for the accident related expenses. Having uninsured and underinsured motorist coverage can protect you in this situation.
Percentage of uninsured drivers (Top 20 States 2015)
According to the law, anyone with a registered car should be able to present proof of liability insurance coverage at all times. The liability coverage should meet the following minimum requirements:
- $30,000 for any one accident
- $15,000 for bodily injury to or death of one individual
- $5,000 for injury to the property of others in any one accident.
- $15,000 for personal injury protection.
Before acquiring insurance coverage, you should make sure it meets those minimum requirements. This is what the law states. However, even though you can legally drive with those minimum requirements it is important to consider getting bigger coverage. Enough coverage helps you in case an accident happens. Your property and assets are protected if you insure yourself adequately. You should consider buying a standard coverage that offers extra cover.
Cheap auto insurance companies in New Jersey
Auto Insurance Company Average Annual Rates
- AAA / Western United Insurance* $1,187
- New Jersey Skylands $1,213
- Farmers / Mid-Century Insurance $1,301
- Norfolk & Dedham / Fitchburg Mutual $1,443
- Plymouth Rock $1,488
- Teachers Auto Insurance Co of NJ* $1,516
- GEICO $1,525
- USAA* $1,576
- Encompass P&C Insurance Co of NJ $1,850
- Founders Insurance Co $1,869
- Amica Property and Casualty INS Co $1,877
- United Farm Family INS Co* $1,881
- California Casualty & Fire Insurance* $1,916
These are among the top rated cheapest auto insurance in New Jersey. To further break it down according to customers.
Cheapest auto insurance for young drivers
Young drivers are anyone in their early 20s. At this age, many people don’t have much to protect. They don’t own a lot of assets, therefore, they can get away with less insurance coverage keeping in mind the required minimum. At this stage, people don’t require much coverage, therefore, they get good deals from auto insurance companies.
In New Jersey, the cheapest auto insurance for young drivers is New Jersey Manufacturers Insurance with an average annual rate of $845/year followed by travelers insurance at $960/year then Allstate insurance company at $1,188 per year.
Cheapest auto insurance for good drivers
A good driver is anyone without any traffic violations and minimum at-fault accidents. This group of people tends to get good deals from auto insurance companies because they are trustworthy.
Travelers Insurance is the cheapest option for this drivers. It offers a rate of $1,258 per year followed by New Jersey Manufacturers Insurance at a rate of $1,396 per year. Lastly, the third option is Allstate insurance at a rate of $1,896/year.
Cheapest auto insurance for drivers with bad credit
A driver with bad credit may have a hard time looking for a cheap auto insurance. However, there are still insurance companies willing to give you a good deal regardless of your credit history.
Drivers with poor credit should consider New Jersey Manufacturers Insurance that offers them coverage at $1,960/year. The second option is Travelers insurance at a rate of $2,966/year.
These includes drivers who are in their mid to late 60s. Drivers at this age have an advantage of scoring better insurance deals due to their reduced time behind the wheel. They can further get more discounts by taking driving improvement courses that are certified by the New Jersey Motor Vehicle Commission.
The best insurance for retired drivers in New Jersey is New Jersey Manufacturers Insurance. It offers them coverage at a rate of $939/year followed by Travelers insurance at a rate of $1,255/year. Lastly, there is Statefarm that provides the senior drivers' cover at $1,311 per year.
It is always advisable to do shopping while looking for insurance. Don’t settle for the first quote you get. There are many companies out there offering better deals. Doing research comes in handy at this time. Get quotes from various companies then compare and contrast. This will help you to identify the best deal then you can take it.
Types of Auto Insurance Coverage in New Jersey:
- Comprehensive Insurance Coverage
- Bodily Injury Liability Insurance
- Uninsured/Underinsured Motorist Bodily Injury Insurance
- Uninsured Motorist Property Damage Insurance
- Property Damage Liability Insurance
Minimum Requirements For Car Insurance in New Jersey
There are minimum requirements for car insurance in the state of New Jersey. According to The New Jersey Department of Insurance, it is mandatory to have liability coverage for every registered driver who is operating a vehicle in the state. It is also necessary to carry Personal Injury Protection, and Uninsured/Underinsured motorist coverage.
Liability coverage minimums for the state of New Jersey:
- $5,000 for property damage
- $15,000 per individual to cover bodily injury or death
- $30,000 per accident involving bodily injuries or deaths
Cheap Auto Insurance Discounts
At CheapAutoInsurance.co, we want to help you get cheap car insurance quotes. This is why we have put together a list of the most commonly used types of auto insurance discounts available. Browse the list below to see which discounts you can use to help you save on the auto insurance coverage you need.
- Anti-theft discount
- Bundling insurance policies discount
- Car safety features discount
- Defensive driving discount
- Mature driver discount
- Military or Veteran discount
- Senior citizen discount
- Good student discount
- Low-mileage discount
- Multi-car auto insurance discount
- Infrequent usage discount
General Auto Insurance
In this section, you will find frequently asked questions pertaining to general auto insurance and coverage in NJ.
How to get licensed to sell auto insurance in NJ?
What happens in NJ when the insurance company totals my car?
What do I need in NJ for car insurance?
When to transfer vehicle insurance after buying used car in NJ?
What is needed to drop car insurance on a vehicle in New Jersey?
Car insurance quotes in NJ when there is a lapse in coverage?
New Jersey auto insurance rules: why ask for wife’s name who doesn’t drive?
What is NJ state law in regards to having car insurance?
How does car insurance work in NJ for new drivers?
How to report car insurance fraud in NJ?
What violations are reported to insurance companies in NJ?
- DUI’s or impaired driving violations
- Reckless driving violations
- Failure to stop after an accident
- Running from the police
- Illegal racing
- Speeding violations over 1 to 30 miles per hour over the limit
- Talking on a phone while driving
- Driving without insurance
- Driving without a seatbelt
- Improper turn violations
- Following too closely
- Illegal pass violations
How to cancel an auto insurance policy in NJ?
Why does my employer want my car insurance info in NJ?
Who can drive my car under my insurance in NJ?
How old do you have to be to have car insurance in NJ?
What county in NJ has the best car insurance rates?
What happens if I’m not under my parent’s car insurance in New Jersey?
What does tier 15 premium auto insurance in NJ mean?
In NJ, how long does a car accident take to come off insurance record?
How many days grace do you get in NJ with auto insurance due?
What is the rule in NJ for sharing cost of auto insurance in a divorce?
How do I locate what insurance a new jersey car has?
How to get car insurance in NJ with a foreign driver’s license?
In NJ, whose insurance pays in a car accident?
How to get insurance for a classic car in NJ?
Where can I get cheap motorcycle insurance in NJ?
Auto Insurance Price
In this section, you will find frequently asked questions pertaining to the expected price of auto insurance in NJ.
How much is car insurance in NJ?
How much is car insurance in NJ per month?
Why is NJ car insurance so expensive?
How much is car insurance in NJ for a new driver?
How much does car insurance cost per month in NJ?
What is the average monthly auto insurance payment in NJ?
How much is car insurance in NJ for a driver over 30 years married with 1 child?
How much would 2 points on a license increase car insurance in New Jersey?
How much will my auto insurance increase if I become an Uber driver in NJ?
Is NJ, car insurance cheaper under 25 when parent owns the car?
Auto Insurance Coverage
In this frequently asked question section, you will find answers to basic New Jersey auto insurance coverage questions.
What is full coverage auto insurance in NJ?
What is the minimum auto insurance coverage in New Jersey?
Who is covered under New Jersey liability car insurance?
What coverage should I choose for NJ high risk car insurance?
In NJ, with a car that is 15 years old, what type of insurance do you need?
What is personal injury protection on auto insurance in NJ?
General Auto Insurance Companies
In this section, you will find frequently asked questions pertaining to general auto insurance companies in New Jersey.
What is the cheapest car insurance in NJ?
Who has the cheapest auto insurance in NJ?
What is the best car insurance in NJ?
Auto insurance companies who can sell in NJ?
Which car insurance companies in NJ have accident forgiveness?
- Allstate Insurance
- Farmer’s Insurance
- GEICO Insurance
- Nationwide Insurance
- Liberty Mutual Insurance
- Progressive Insurance
- Traveler’s Insurance
- State Farm Insurance
What insurance company’s cover used car dealerships in NJ?
- Allstate Insurance
- State Farm Insurance
- NJM Insurance Group
- Progressive Insurance
- GEICO Insurance
Who governs auto insurance companies in New Jersey?
How to find cheap sr22 car insurance in New Jersey and how does it compare to other states?
Uninsured in NJ
In this section, you will find frequently asked questions regarding being uninsured in New Jersey.