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The best cheap car insurance in New Jersey

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The best cheap car insurance in New Jersey – Business Insider

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Car insurance is rather expensive in New Jersey, with the average driver paying $1,350.28 per year. In fact, it’s the fourth-most expensive state in the US for car insurance, according to the Insurance Information Institute.

Car insurance companies tend to calculate rates that are different for everyone. Factors like where you live in New Jersey, your age, gender, and your driving record can all play a role in the amount you’ll pay for coverage.

In New Jersey, it’s very important to shop around for your coverage to get the best auto insurance policy for your money. To do this, get several quotes from several different companies and compare them. Here are a few of the best affordable car insurance companies in New Jersey to start your search.

The most popular car insurance companies in New Jersey

The following are the most popular car insurance companies in New Jersey, based on the percentage of insured New Jersey drivers who use them:

Company Market share %
GEICO 22.77
NJM Insurance 13.16
Progressive 12.36
Allstate Corp 10.54
Plymouth Rock of New Jersey 7.86
State Farm 7.36
Liberty Mutual 6.73
USAA* 3.96
Travelers 3.63
Farmers Insurance 2.37
MetLife 1.78
CSAA Insurance Exchange 1.32

*USAA – for active military, veterans, and their families

Data from S&P Global Intelligence.

The best car insurance in New Jersey based on customer satisfaction

Customer satisfaction with car insurance providers may factor into your decision. According to a J.D. Power survey, these are the top ten in Mid-Atlantic region, which includes New Jersey, based on customer rankings:

  1. State Farm
  2. Erie Insurance
  3. NJM Insurance
  4. GEICO
  5. Region Average
  6. Travelers
  7. Nationwide
  8. MetLife
  9. CSAA Insurance Group
  10. Progressive

The best car insurance in New Jersey based on credit score

Consumer Reports compiled information on insurance companies and their pricing formulas in each state. It found that a few companies offered the best coverage in New Jersey. Here are the best car insurance companies by credit level, along with the average cost for coverage for a single adult driver.

Drivers with excellent credit (FICO scores of 800-850) will see some of the best prices on car insurance, on average.

  • GEICO Government Employees car insurance: $1,058 per year
  • USAA car insurance: $1,281 per year
  • Travelers car insurance: $1,310 per year

Drivers with good credit (FICO scores of 670-739), will find that these three companies offer the best rates, on average:

  • GEICO Government Employees car insurance: $1,058 per year
  • USAA car insurance: $1,446 per year
  • Travelers car insurance: $1,462 per year

New Jersey drivers with poor credit (FICO scores 300-579) will pay the most for coverage. These three companies offer the most affordable coverage, on average.

  • GEICO Government Employees car insurance: $1,469 per year
  • New Jersey Manufacturers car insurance: $1,511 per year
  • Allstate car insurance: $2,373 per year

The best car insurance for clean driver record

For a driver in New Jersey age 25 or older with no accidents and one vehicle, the following companies provide the best average rates:

Company Average monthly insurance premium
GEICO $173
Progressive $189
Allstate $197
State Farm $200
USAA $201
Esurance $202
Travelers $221
Farmers $257
Liberty Mutual $258
Bristol West $386

Above data obtained from Savvy, based on 5,248 policyholders in the state of New Jersey

Best car insurance for one or more accidents on record

For a driver in New Jersey age 25 or older, with one or more accidents and one vehicle, the following companies provide the best average rates:

Company Average monthly insurance premium
GEICO $199
Esurance $210
Progressive $223
Allstate $234

Above data obtained from Savvy, based on 5,248 policyholders in the state of New Jersey

New Jersey car insurance rates by city

Below is the estimated average annual premium of auto insurance policies per household in New Jersey’s most populous cities:

City Average annual insurance premium
Newark $1,281
Jersey City $1,495
Paterson $1,319
Elizabeth $1,387
Toms River $1,544
Clifton $1,550
Trenton $1,302
Camden $1,273
Passaic $1,355
Union $1,403
Bayonne $1,467
East Orange $1,328
Lakewood $1,441
Vineland $1,413
New Brunswick $1,362
Hoboken $1,662
West New York $1,426
Perth Amboy $1,430
Plainfield $1,484
Hackensack $1,461
Sayreville $1,594
Kearny $1,511
Linden $1,532
Fort Lee $1,573
Atlantic City $1,239
Fair Lawn $1,694
Garfield $1,437
Westfield $1,852
Rahway $1,541
Long Branch $1,440
Englewood $1,588
Paramus $1,716
Bergenfield $1,654
Millville $1,367
Ridgewood $1,840
Carteret $1,514
Lodi $1,457
Cliffside Park $1,500
Bridgeton $1,298
Old Bridge $1,698
South Plainfield $1,680
Somerset $1,652
Summit $1,803
Roselle $1,464
Palisades Park $1,493
North Plainfield $1,563
Elmwood Park $1,551
Secaucus $1,662
Woodbridge $1,592
Morristown $1,568

Who gets the best cheap car insurance in New Jersey?

As the rates above show, the drivers who are going to see the best rates for coverage in New Jersey are those who have the best credit scores. Car insurance companies will look at lots of different factors when calculating how much you’ll pay for coverage, so each one will offer you a different price.

That said, it’s important to shop around before making your final decision. To do this, get a few different quotes from different companies and compare them.

When comparing your quotes, you’ll want to look past the premium and consider the coverage types and limits. Also consider the deductible, or the amount you’ll be responsible for out-of-pocket if you get into an accident. The policy with the most coverage and the lowest deductible is the best.

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