Best car insurance in New Jersey in 2022

Best car insurance in New Jersey: It costs an average of $1,757 a year for full coverage car insurance for people in New Jersey to cover their cars and their homes. If you want full coverage, the national average cost of car insurance is $1,674 per year. That’s a little more than the statewide average. Shopping for the best car insurance company in New Jersey? Bankrate’s research might be of help. Geico and State Farm are at the top of our rating lists, with NJM, Progressive, and Allstate close behind. Here, you can find car insurance from all the companies we’ve chosen. They all have prices for full coverage that are lower than the prices in your state.

Best car insurance in New Jersey in 2022

Even though many people think about price when they buy car insurance, it doesn’t always mean that they get the best policy for their needs. As a result of our research, we can help you figure out what to look for in a company, as well as what coverage options and policy features might work best for your needs.

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Best car insurance companies in New Jersey

They looked into which car insurance companies had the most customers in New Jersey and found out which ones had the most market share in the state. People who looked into the best car insurance companies in New Jersey say that Geico, NJM Insurance, State Farm Insurance, Progressive Insurance, and Allstate are some of them.

Quadrant Information Services was the first place we looked for the most up-to-date price quotes. After we looked at the average cost of full coverage from each company, we looked at coverage options, discounts, financial strength, and customer satisfaction scores to see which company had the best options. Some of the third-party ratings that were looked at were J.D. Power, AM Best, and Standard & Poor’s. These things were put together into a Bankrate Score for each company, which is how well they did. The scores are out of 5.0, and the better a company is ranked, the better it did in each category.

If you want the best car insurance in New Jersey, you might want to get a quote from these companies:

Car insurance company Bankrate Score Average annual full coverage premium J.D. Power customer satisfaction score (Mid-Atlantic region)
State Farm 4.7 $1,244 851/1,000
Geico 4.7 $1,316 835/1,000
NJM 4.6 $1,271 867/1,000
Progressive 4.4 $1,469 834/1,000
Allstate 4.0 $1,686 830/1,000

State Farm

If money is your main concern, State Farm could be a good choice. A full-coverage rate from the company is more than $500 cheaper than New Jersey’s average, and it’s the cheapest on our list. If you live in New Jersey, there are a lot of State Farm agents who can help you buy insurance. Customer satisfaction at State Farm is above average, but the National Association of Insurance Commissioners has given the company an overall complaint index score that is above the average (NAIC). This means that the NAIC gets more complaints about State Farm than normal.

Geico

There is a big difference between Geico’s average full coverage rate and the average rate in New Jersey, which is very low. There are discounts for federal employees, military members, safe drivers, and good students. Also, the company has one of the longest lists of discounts in the business. GEICO is also the best insurance company for service in the 2021 J.D. Power U.S. Insurance Digital Experience Study, which took place in 2019. There is a lot you can do with the company’s app, like request roadside service, look at ID cards, make payments, file claims, and change your policy. However, Geico doesn’t have as many optional coverage types as its competitors, which makes it hard to make your policy unique.

NJM Insurance

NJM, which stands for New Jersey Manufacturers, sells car insurance in Connecticut, Maryland, New Jersey, Ohio, and Pennsylvania. NJM also sells insurance for boats and RVs. On top of that, NJM has the second-lowest average full coverage premium on our list. The company also came in first in the 2021 JD Power U.S. Auto Insurance Study in the mid-Atlantic region. This shows that many of NJM’s customers are happy with the company’s customer service. NJM is a smaller company, which means its digital tools aren’t as powerful as those of bigger companies. If you prefer to handle your insurance online or through a mobile app, you might not want to choose NJM.

Progressive

Progressive may be a good place to start if you are looking for insurance that you can tailor to your needs. The company has a lot of different types of optional coverage, like loan or lease payoff, custom parts and equipment, rideshare coverage, and roadside assistance. Good students, safe drivers, teen drivers, and homeowners may also be able to get discounts from the company that could help them pay less for their insurance. However, Progressive has a customer satisfaction score from J.D. Power that isn’t as high as the rest of the industry. If you’re looking for a company that has good service, Progressive might not be the best choice.

Allstate

Although Allstate’s average full coverage premium is the highest on our list, potentially discouraging drivers looking for cheap car insurance, its rate is still lower than the state average in New Jersey. The company offers several endorsements, such as coverage for sound system equipment and roadside assistance, to assist you in customizing your policy. Additionally, you may be able to reduce your premium through the company’s discounts, which include the Drivewise telematics program, which can help you save money and develop safer driving habits.

Average car insurance cost in New Jersey

According to data from Quadrant Information Services for 2021, drivers in New Jersey pay an average of $1,757 per year for full coverage car insurance. Each year, the average cost of minimum coverage is $847. This is slightly more expensive than the national average for car insurance, which is $1,674 for full coverage and $565 for minimum coverage, but in comparison to other states, New Jersey’s average rates are not excessive. Bear in mind that your rates will almost certainly vary from the averages due to your unique rating factors.

Although New Jersey is a small state, its roads are quite congested. The high number of automobiles on the road may increase the likelihood of being involved in an accident, which may result in an increase in average insurance costs.

Average annual premium for minimum coverage in New Jersey Average annual premium for full coverage in New Jersey
$847 $1,757

Average car insurance cost in New Jersey

The average annual premium for full coverage auto insurance for a 40-year-old driver with a clean driving record and excellent credit.

New Jersey city Average annual premium for full coverage Average annual premium for minimum coverage
Jersey City, New Jersey $2,304 $1,109
Newark, New Jersey $2,624 $1,254
Paterson, New Jersey $2,565 $1,259

Where can I get the cheapest vehicle insurance in New Jersey?

New Jersey has a high population density and more cars on the road because it is largely urban. As a result, car accidents are more common, as seen by higher-than-average auto insurance rates. There are certain steps you may take to discover coverage that meets your needs and fits your budget.

Check out the minimum insurance requirements in New Jersey.

New Jersey has a different way of making sure that people have car insurance. The state has two options for the minimum amount of insurance that you need: the basic policy and the standard policy. Only property damage liability and personal injury protection (PIP) come with basic policies. You can add bodily injury liability coverage if you want to pay more for that. If you choose a basic policy, you may not be able to add other types of coverage. Standard policies cover bodily injury liability, property damage liability, and PIP. They also come with a wider range of optional add-ons that you can choose from. Understanding New Jersey’s car insurance laws could help you decide if you need to buy more insurance than the state requires.

Consider lender requirements

Drivers who have loans or leases may need to think about extra car insurance requirements. Minimum coverage doesn’t cover any damage to your car, which many lenders want. Full coverage insurance is called that because it includes comprehensive coverage and collision coverage, as well as other types of insurance. People who borrow money from lenders may also have rules about how much liability insurance you must buy, as well as how high your comprehensive and collision deductibles can be. Gap insurance could also be a good idea if you have a loan or lease on your car. if your car is totaled, this option helps pay the difference between your loan balance and the value of your car if your car is worth less than the loan balance.

Consider what is best for you.

There is no one-size-fits-all when it comes to car insurance. Maybe you have a bad credit score and need to find a company that doesn’t care as much about your credit as others do. You might have had accidents or been ticketed. You might also have a young driver to insure. Or maybe you want a company that has a digital app or customer portal that is easy to use. If you know what you need, you can figure out which companies might be right for you.

In New Jersey, there are discounts on car insurance for people who live there.

  • Young driver discounts: If you are under 25 and a full-time student, or if you have a full-time student on your policy, you may be able to get good student discounts, driver training discounts, or discounts for students who live far away.
  • Safe driver discounts: Telematics programs let your insurance company keep track of your driving habits with a smartphone app or a plug-in device. These programs might help you learn better driving habits and get a discount that fits your needs. A clean driving record can also save money, but this depends on the company. If you stay clean for a certain number of years, you can save money as well.
  • Other discounts: Multi-policy discounts are often the best ways to save money. bundle your auto and home policies with the same company, and you could save money on both. Companies may also give you a discount if you choose paperless bills, pay your premium in full, or set up automatic payments.

It can be good to look around and see what kind of discounts you can get from different providers. It doesn’t matter how much a certain company charges you for your service, because there may be ways to save a lot of money.

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