Cost Of Car Insurance In Nj

In fact a 2014 insurance information institute study shows that new jersey tops the list when it comes to average premium per vehicle at 1 263 67 per year. Auto insurance premiums price based on myriad factors such as a driver s marital status driving history credit rating gender and age. Better auto insurance coverage comes at a cost.

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There are many factors that go into calculating the rate you pay for car insurance.

Cost of car insurance in nj. It s no secret that nj has some of the highest average car insurance rates in the country. However depending on the insurer one chooses the same driver can find quotes anywhere between 1 000 and more than 4 000 a year. Since car insurance is often pricier after a crash and especially so for young drivers we assumed minimum required insurance in the state to contain costs for our hypothetical driver. For comprehensive insurance coverage with a 500 deductible you can expect to pay 94 more than you would for basic liability only coverage.

The standard policy costs more but provides sufficient coverage. What s behind the cost. With a population of over 8 9 million new jersey is the 11th most populated state in the country and features over 85 000 miles of road. Car insurance costs in paterson were significantly more expensive than the new jersey state average though motorists can still benefit from comparing rates from several companies.

In new jersey a comprehensive policy with a 1 000 deductible costs 1 481 81 more than liability only coverage. Based on data from seven insurance companies the average insurance rate in our study in new jersey is 1 663. We conducted a study of car insurance quotes in jersey city and found the average annual cost to be 2 306. The cheapest insurer in our analysis geico 2 051 cost 5 178 less per year than the most expensive carrier allstate 7 229.

Your auto insurance premiums are dictated by factors other than state lines. The average cost of auto insurance in new jersey is 1 592 per year 3 more than the national average. In comparison the average rate you pay to cover your classic car should be as much as 40 50 less than the average rate for a standard policy depending on various risk factors and the insurance carrier s appetite for your particular vehicle category. The average annual auto insurance premium for a conventional car in new jersey is around 1 263.

The basic option is the cheapest car insurance in new jersey but offers limited coverage. How much does car insurance cost in new jersey. Read on to find out who the most affordable insurers are as well as how you can save on auto insurance in jersey city. New jersey car owners have a choice between two types of nj auto insurance policies.

See the cheapest car insurance companies. According to our analysis geico offers the cheapest car insurance in new jersey with average annual study rates coming in at 1 070.