New Jersey Car Insurance Calculator
Car insurance costs in New Jersey tend to exceed the national average. Factors that influence price include the driver’s age, driving record and coverage options available – some drivers may even be required by law to carry certain coverage types in New Jersey. To gain an idea of your expected annual car insurance costs in New Jersey use Bankrate’s New Jersey car insurance calculator; simply input some details and receive an estimated quote.
Young and inexperienced drivers typically pay higher car insurance premiums due to being seen as higher risks by insurers. But younger drivers can save on rates by remaining covered under their parents’ policy as long as they live at home and drive the family vehicle, according to research from The Ascent; drivers between 18-24 can typically save 31% when insured on this way.
Credit history also plays a pivotal role in determining car insurance costs. Insurers view credit scores as an accurate indicator of an individual’s likelihood to file claims in the future; as a result, people with poor credit often pay more for car insurance than those with excellent credit ratings.
A driver’s vehicle type can have an effectful influence on their car insurance premium in New Jersey. SUVs, trucks and sports cars tend to attract higher premiums owing to more costly replacement parts for larger vehicles; older cars with fewer advanced safety features that need repair require lower premiums as these repairs tend to cost less money than modern ones.
New Jersey may offer its drivers some unique driving laws, but most auto insurance regulations remain similar to other states. Drivers must carry at minimum $25,000 per person and $50,000 per accident bodily injury liability coverage as well as $25,000 property damage coverage and $15,000 personal injury protection (PIP) coverage.
Some drivers opt to purchase additional coverage beyond what is mandated by their state, for added peace of mind. This might include uninsured/underinsured motorist coverage which provides compensation in case a collision with an uninsured or underinsured driver occurs.
To quickly locate the ideal auto insurance rate for you and your situation, consider using an online quote comparison service that provides multiple quotes from multiple providers. Some services even allow you to customize your search and identify potential discounts that apply directly to you – providing an invaluable service and helping ensure you’re finding the most cost-effective coverage in New Jersey. Be sure to compare quotes from various companies; prices can differ significantly between providers.