New Jersey is a no-fault state, so drivers are required to purchase personal injury protection (PIP), bodily injury liability coverage and property damage liability. Drivers seeking additional coverage can add collision and uninsured/underinsured motorist policies at additional costs;
Insurance premiums depend on many factors, including your driving record and credit rating. A clean driving history often results in lower premiums; ticketing or DUI-related offenses will increase them significantly. If your application for car insurance through the voluntary market was denied due to poor driving records or other circumstances, state-run New Jersey Automobile Insurance Plan might offer solutions.
Your vehicle makes an impactful statement about you; its make and model have an influence on its insurance cost as well. Compact SUVs typically offer lower premiums; sports cars and luxury vehicles tend to incur higher rates for coverage. Some vehicles require more regular maintenance and repairs, which may raise premiums accordingly.
Age and gender are both key components to consider when setting car insurance premiums in New Jersey. Newer, inexperienced drivers typically pay higher premiums compared to more seasoned ones; similarly, men often face more costly policies.
Your credit score also plays a factor in determining your rates; some insurance providers consider individuals with poor credit to be high-risk drivers, whereas those with excellent credit could save as much as $2,000 annually on car insurance premiums compared to drivers with poor scores.
New Jersey insurance providers base their rates on several factors, such as claims experience, loss ratios and market share. To help you find the ideal car insurance in the Garden State, we’ve ranked each insurer based on their premium written compared with their market share and loss ratios.
Geico offers some of the lowest premiums, while Liberty Mutual can be even lower for drivers with clean driving records. Allstate and Farmers also provide competitive rates in New Jersey; be sure to compare quotes before selecting one!
Car insurance rates differ across states and even within them depending on various factors like crime and weather patterns, among others. You can quickly find average car insurance rates in your area by entering your zip code below; additionally, see how much money can be saved with good driving records or by adding additional coverage options to your policy. Enter your information now for instant New Jersey car insurance rates!