You asked: Why is New Jersey car insurance so expensive?

What is the average cost of car insurance in New Jersey?

The average car insurance rates in New Jersey are $847 annually for minimum coverage and $1,757 annually for full coverage. Compared to the national average annual premiums of $565 per year for minimum coverage and $1,674 per year for full coverage, drivers in New Jersey tend to pay more for car insurance.

Why is car insurance in New Jersey so expensive?

Car insurance in New Jersey is expensive because it’s a no-fault state with the highest population density of any state in the country. … As the cost of providing insurance goes up, the premiums insurers charge also rise. All insured drivers share the increasing cost of insurance.

Who has the cheapest car insurance in New Jersey?

The cheapest car insurance in New Jersey

Car insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Geico $559 $1,316
Travelers $703 $1,320
State Farm $724 $1,244
Progressive $735 $1,469
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Is NJ car insurance expensive?

The average cost of auto insurance in New Jersey is $1,592 per year — 3% more than the national average. Your auto insurance premiums are dictated by factors other than state lines. Auto insurance premiums price based on myriad factors, such as a driver’s marital status, driving history, credit rating, gender, and age.

How much is car insurance per month in NJ?

The average cost of minimum coverage car insurance in New Jersey is $812 per year, or $68 per month. The cheapest minimum coverage car insurance quotes in New Jersey are offered by State Farm, which charges an average of $367 per year. State Farm’s rates cost 55% less than the statewide average for minimum coverage.

Is Njm cheaper than Geico?

The cost of a policy at NJM is close to what’s charged by Geico no matter the level of coverage. However, Geico is often cheaper, except in the case of a prior accident. … Also, Geico’s service was ranked about average by J.D. Power, based on a poll of the insurer’s policyholders, while NJM was tied for the best service.

What state has the cheapest car insurance?

Car insurance in Louisiana is now three times more expensive than in Maine. Maine has the cheapest car insurance rate, where you will pay an average of $858 a year.

Who is the best car insurance in NJ?

Answer a few questions to see personalized rates from top carriers.

Provider Average annual full coverage premium J.D. Power customer satisfaction score
Geico $1,316 841/1000
NJM Insurance $1,271 847/1000
Progressive $1,469 828/1000
State Farm $1,244 855/1000
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How much is car insurance in NJ for a 20 year old?

Average Car Insurance Rates by Age

Take a look at the average annual rates based on age: 18 years: $7179. 19 years: $6021. 20 years: $5333.

How can I lower my car insurance in NJ?

Here’s some recommended ways to get lower auto insurance rates in New Jersey:

  1. Don’t Double up on Your Medical Coverage. …
  2. Increase Your Deductible. …
  3. Incorporate Vehicle Safety Options. …
  4. Choose Your Vehicle Wisely. …
  5. Eliminate Unnecessary Coverage. …
  6. Inquire About Other Price Reductions. …
  7. Keep Your Driving Record Clean.


Who has the most affordable car insurance?

Cheapest car insurance companies

Company Average annual rate
Cheap car insurance rates from the largest companies
1. Geico $380
2. State Farm $550
3. Progressive $577

Is New Jersey insurance cheaper than New York?

New Jersey car insurance — average prices. Expect to pay less for auto insurance in your new home. The average annual auto insurance rate in New Jersey is $338 cheaper than the typical cost of car insurance in New York.

What is full coverage insurance in NJ?

Full coverage car insurance includes a minimum of $15,000/$30,000 liability limits (most consumers purchase $100,000/$300,000), $5,000 in property damage liability and the ability to buy PIP coverage limits from $15,000 to $250,000. … Most carriers recommend that full coverage include $100,000 in property liability.

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