Auto Insurance Companies in New Jersey – New Jersey is one of the most expensive states for car insurance, with an average annual premium of $1,754 for full coverage and $782 for minimum coverage. However, the price you pay for your policy can vary significantly depending on the company you choose, your driving record, your credit score, your vehicle, and other factors.
In this article, we will review some of the best auto insurance companies in New Jersey based on user ratings, customer satisfaction, financial strength, and affordability. We will also provide some tips on how to save money on your car insurance in New Jersey.
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The Best Auto Insurance Companies in New Jersey
The best car insurance companies in New Jersey are:
The General is a popular choice for high-risk drivers who have a history of accidents, violations, or poor credit. The General offers low down payments, flexible payment options, and online quotes and claims. The General has a 4.5 out of 5 rating on WalletHub and an A+ rating from the Better Business Bureau.
Plymouth Rock Assurance New Jersey
Plymouth Rock Assurance New Jersey is a regional insurer that specializes in providing personalized service and customized coverage. Plymouth Rock Assurance New Jersey offers a variety of discounts, benefits, and features, such as roadside assistance, accident forgiveness, pet injury coverage, and more. Plymouth Rock Assurance New Jersey has a 4.4 out of 5 rating on WalletHub and an A+ rating from A.M. Best.
Direct Auto is another option for high-risk drivers who need affordable and reliable coverage. Direct Auto offers low rates, flexible payment plans, online policy management, and discounts for safe drivers, military members, students, and more. Direct Auto has a 4.3 out of 5 rating on WalletHub and an A rating from the Better Business Bureau.
Other reputable car insurance companies in New Jersey include:
Geico is the largest car insurance company in New Jersey by market share and one of the cheapest options for full coverage. Geico offers competitive rates, a wide range of discounts, online tools and resources, and excellent customer service. Geico has a 4.4 out of 5 rating on WalletHub and an A++ rating from A.M. Best.
State Farm is the second-largest car insurance company in New Jersey by market share and another affordable option for full coverage. State Farm offers comprehensive coverage, a network of local agents, online quotes and claims, and discounts for safe drivers, students, loyal customers, and more. State Farm has a 4.2 out of 5 rating on WalletHub and an A++ rating from A.M. Best.
NJM Insurance is a mutual insurer that operates exclusively in New Jersey and Pennsylvania. NJM Insurance offers low rates, high-quality coverage, dividend payments to policyholders, online services, and discounts for good drivers, homeowners, students, and more. NJM Insurance has a 4.5 out of 5 rating on WalletHub and an A+ rating from A.M. Best.
Erie Insurance is a regional insurer that operates in 12 states and the District of Columbia. Erie Insurance offers personalized service, generous coverage options, rate lock features, accident forgiveness, roadside assistance, discounts for multiple policies, safety features, annual payments, and more. Erie Insurance has a 5 out of 5 rating on WalletHub and an A+ rating from A.M. Best.
How to Save Money on Car Insurance in New Jersey
Car insurance rates in New Jersey are influenced by many factors, such as your age, gender, driving record, credit score, vehicle type, coverage level, deductible amount, and more. To lower your car insurance costs in New Jersey, you can try some of the following strategies:
Bundle your policies
If you have other types of insurance, such as home, renters, or life, you can save money by bundling them with your car insurance policy. Most companies offer discounts for having multiple policies with them.
Increase your deductible
Your deductible is the amount you have to pay out of pocket before your insurance kicks in. By choosing a higher deductible, you can lower your premium, but you also have to be prepared to pay more in case of a claim.
Reduce your coverage
If you have an older or less valuable car, you may not need full coverage, which includes collision and comprehensive coverage. You can save money by dropping these coverages and sticking to the minimum liability coverage required by law in New Jersey. However, you also have to consider the risk of paying for repairs or replacement out of pocket if your car is damaged or stolen.
Improve your credit score
Your credit score is a measure of your financial responsibility and trustworthiness. Many insurers use your credit score to determine your risk level and premium. By improving your credit score, you can lower your car insurance costs in New Jersey. You can improve your credit score by paying your bills on time, reducing your debt, checking your credit report for errors, and more.
Your driving record is one of the most important factors that affect your car insurance rates in New Jersey. If you have a history of accidents, violations, or claims, you will pay more for your policy than a safe driver. To avoid paying higher rates, you should drive carefully, follow the traffic rules, avoid distractions, and maintain a clean driving record.
Take advantage of discounts
Most car insurance companies offer discounts for various reasons, such as being a good driver, a good student, a military member, a senior citizen, a low-mileage driver, or having safety features on your car. You should ask your insurer about the discounts they offer and see if you qualify for any of them.
New Jersey Manufacturers Auto Insurance Review
New Jersey Manufacturers Auto Insurance is a good company that offers inexpensive plans with many discounts available, has high customer satisfaction ratings and low complaints, and may pay dividends to some policyholders.
However, it also has some drawbacks, such as being available only in a few select states, charging extra for roadside assistance, and not having an online purchase option. You can also check out the web search results for more details and opinions on New Jersey Manufacturers Auto Insurance.
In conclusion. Car insurance in New Jersey can be expensive, but it is also essential to protect yourself and others on the road. By choosing a reputable and affordable car insurance company, you can get the coverage you need without breaking the bank. You can also save money on your car insurance in New Jersey by shopping around, bundling your policies, increasing your deductible, reducing your coverage, improving your credit score, driving safely, and taking advantage of discounts.
Auto Insurance Companies in New Jersey: Frequently Asked Questions (F&Qs)
How much is car insurance in NJ?
The average cost of car insurance in New Jersey varies depending on the type of coverage. Here are some figures:
- For full coverage, the average cost is around $1,754 per year or $1,492 per year, depending on the source.
- For minimum coverage, the average cost is about $782 per year.
NOTE these are averages and actual costs can vary based on several factors including your age, driving history, type of vehicle, and more. It’s always a good idea to get quotes from multiple insurance companies to ensure you’re getting the best rate for your specific situation.
What is the largest insurance company in NJ?
The largest insurance company in New Jersey is Geico. It has a 20% market share on auto insurance in the state, which is 7% more than the runner-up, New Jersey Manufacturers. Geico is known for online sales, but it also has five locations in New Jersey where you can purchase auto coverage in person.
What are the 3 types of insurance in NJ?
In New Jersey, all vehicles are required to have three types of mandatory insurance:
- Liability Insurance: This pays others for damages that you cause if you are responsible for an accident. It does not cover medical expenses.
- Personal Injury Protection (PIP): This pays medical expenses if you or other persons covered under your policy are injured in an automobile accident.
- Uninsured Motorist Coverage: This protects you if you are in an accident with someone who doesn’t have proper insurance coverage.
These coverages are required by law and provide a basic level of protection for drivers. However, many drivers choose to purchase additional coverage for added protection.
How much is car insurance a month in NJ?
The average monthly cost of car insurance in New Jersey varies depending on the type of coverage:
- For full coverage, the average cost is around $146.17 to $124.33 per month.
- For minimum coverage, the average cost is about $65.17 per month.
Please note that these are averages and actual costs can vary based on several factors including your age, driving history, type of vehicle, and more. It’s always a good idea to get quotes from multiple insurance companies to ensure you’re getting the best rate for your specific situation.