Having insurance is a fundamental requirement for everyone with a vehicle in New Jersey. Before you can go shopping for auto insurance in New Jersey, it is important to know the law. New Jersey law requires individuals to have the following minimum insurance coverage.
According to the law, anyone with a registered car should be able to present proof of liability insurance coverage at all times. The liability coverage should meet the following minimum requirements:
- $30,000 for any one accident
- $15,000 for bodily injury to or death of one individual
- $5,000 for injury to the property of others in any one accident.
- $15,000 for personal injury protection.
Before acquiring insurance coverage, you should make sure it meets those minimum requirements. This is what the law states. However, even though you can legally drive with those minimum requirements it is important to consider getting bigger coverage. Enough coverage helps you in case an accident happens. Your property and assets are protected if you insure yourself adequately. You should consider buying a standard coverage that offers extra cover.
Cheap auto insurance companies in New Jersey
Auto Insurance Company Average Annual Rates
- AAA / Western United Insurance* $1,187
- New Jersey Skylands $1,213
- Farmers / Mid-Century Insurance $1,301
- Norfolk & Dedham / Fitchburg Mutual $1,443
- Plymouth Rock $1,488
- Teachers Auto Insurance Co of NJ* $1,516
- GEICO $1,525
- USAA* $1,576
- Encompass P&C Insurance Co of NJ $1,850
- Founders Insurance Co $1,869
- Amica Property and Casualty INS Co $1,877
- United Farm Family INS Co* $1,881
- California Casualty & Fire Insurance* $1,916
These are among the top rated cheapest auto insurance in New Jersey. To further break it down according to customers.
Cheapest auto insurance for young drivers
Young drivers are anyone in their early 20s. At this age, many people don’t have much to protect. They don’t own a lot of assets, therefore, they can get away with less insurance coverage keeping in mind the required minimum. At this stage, people don’t require much coverage, therefore, they get good deals from auto insurance companies.
In New Jersey, the cheapest auto insurance for young drivers is New Jersey Manufacturers Insurance with an average annual rate of $845/year followed by travelers insurance at $960/year then Allstate insurance company at $1,188 per year.
Cheapest auto insurance for good drivers
A good driver is anyone without any traffic violations and minimum at-fault accidents. This group of people tends to get good deals from auto insurance companies because they are trustworthy.
Travelers Insurance is the cheapest option for this drivers. It offers a rate of $1,258 per year followed by New Jersey Manufacturers Insurance at a rate of $1,396 per year. Lastly, the third option is Allstate insurance at a rate of $1,896/year.
Cheapest auto insurance for drivers with bad credit
A driver with bad credit may have a hard time looking for a cheap auto insurance. However, there are still insurance companies willing to give you a good deal regardless of your credit history.
Drivers with poor credit should consider New Jersey Manufacturers Insurance that offers them coverage at $1,960/year. The second option is Travelers insurance at a rate of $2,966/year.
These includes drivers who are in their mid to late 60s. Drivers at this age have an advantage of scoring better insurance deals due to their reduced time behind the wheel. They can further get more discounts by taking driving improvement courses that are certified by the New Jersey Motor Vehicle Commission.
The best insurance for retired drivers in New Jersey is New Jersey Manufacturers Insurance. It offers them coverage at a rate of $939/year followed by Travelers insurance at a rate of $1,255/year. Lastly, there is Statefarm that provides the senior drivers’ cover at $1,311 per year.
It is always advisable to do shopping while looking for insurance. Don’t settle for the first quote you get. There are many companies out there offering better deals. Doing research comes in handy at this time. Get quotes from various companies then compare and contrast. This will help you to identify the best deal then you can take it. For information on cheap insurance per city visit https://www.valuepenguin.com/best-cheap-car-insurance-new-jersey.