The Cheapest Car Insurance in New Jersey for November 2024
Here is the cheapest car insurance in New Jersey according to NerdWallet's analysis.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.Updated Nov 1, 2024 · 2 min read
NerdWallet analyzed rates for 16 insurers to find the cheapest auto insurance in New Jersey. We reviewed rates for drivers of different ages, with different driving histories and coverage types, to find the cheapest companies.
At a glance: The cheapest car insurance in New Jersey
State Farm offers the cheapest minimum coverage in New Jersey, with an average rate of $464 per year, according to NerdWallet's November 2024 analysis.
The absolute cheapest policies offer just bare minimum coverage. The average cost of minimum coverage in New Jersey is $1,105 per year, or $92 per month.
Full coverage in New Jersey costs an average of $2,866 per year, or $239 per month.
The cheapest minimum coverage insurance in New Jersey
Below is the cheapest car insurance we found in New Jersey for minimum coverage required by the state. Rates are based on a 35-year-old driver with good credit and a clean driving history.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| State Farm | $464 | $39 |
| Geico | $473 | $39 |
| Progressive | $634 | $53 |
| NJM | $694 | $58 |
| Penn National | $862 | $72 |
If you’re looking for top-of-the-line auto coverage, check out our list of the best car insurance in New Jersey.
If you’re looking for the cheapest car insurance in your city, NerdWallet also analyzed rates for some of the largest New Jersey cities, including:
- Jersey City
Below are the cheapest insurers we found in Jersey City for a 35-year-old good driver with good credit. To see the full list, read NerdWallet's analysis of car insurance in Jersey City.
Category Cheapest Company Median annual rate Clean driving history Geico $1,639 After a DUI Geico $2,302 After an accident Geico $2,264 After a speeding ticket Geico $1,639 Having poor credit NJM $3,575 - Newark
Below are the cheapest insurers we found in Newark for a 35-year-old good driver with good credit. To see the full list, read NerdWallet's analysis of car insurance in Newark.
Category Cheapest Company Median annual rate Clean driving history Geico $2,085 After a DUI Geico $2,953 After an accident Geico $2,902 After a speeding ticket Geico $2,085 Having poor credit NJM $4,692
See what you could save on car insurance
Easily compare personalized rates to see how much switching car insurance could save you.Keep reading to find the cheapest car insurance in New Jersey for different driver profiles and coverage types among:
Cheap auto insurance in New Jersey for young drivers
Young drivers may have to get a lot of quotes to find the best cheap car insurance. Prices can be sky-high in your 20s, but tend to come down as drivers get more experience on the road. Still, some companies routinely have better insurance rates for young drivers, so it's best to shop around to find them.
Cheapest minimum coverage car insurance in New Jersey for young drivers
For bare-bones coverage for 20-year-olds, these companies had the lowest average rates:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $538 | $45 |
| State Farm | $1,078 | $90 |
| NJM | $1,274 | $106 |
| Progressive | $1,423 | $119 |
| Penn National | $1,653 | $138 |
Cheapest full coverage car insurance in New Jersey for young drivers
If you have a clean driving record consider the following companies, which had the lowest average rates for 20-year-old drivers:
| Company | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $1,692 | $141 |
| NJM | $3,010 | $251 |
| Penn National | $3,729 | $311 |
| Travelers | $4,569 | $381 |
| Progressive | $5,259 | $438 |
Cheap auto insurance in New Jersey for senior drivers
Car insurance costs may start to rise for older drivers, so it’s wise to shop around for the cheapest rates. You can also check for senior discounts. For example, some insurers offer discounts to senior drivers who take a defensive driving course.
Cheapest minimum coverage car insurance in New Jersey for seniors
Drivers in New Jersey who want just the state minimum coverage may want to check with these insurers, which had the lowest average rates for 70-year-old drivers:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| State Farm | $494 | $41 |
| NJM | $637 | $53 |
| Geico | $667 | $56 |
| Progressive | $720 | $60 |
| Selective | $802 | $67 |
Cheapest full coverage car insurance in New Jersey for seniors
Drivers in New Jersey with clean driving records may want to think about getting quotes from these companies, which had the lowest average rates for 70-year-olds:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| NJM | $1,535 | $128 |
| Geico | $1,851 | $154 |
| Penn National | $1,870 | $156 |
| Selective | $2,041 | $170 |
| Travelers | $2,428 | $202 |
Cheapest car insurance in New Jersey by driving record
Having a driving violation on your record is likely to increase your car insurance premium. How much more you’ll pay depends on the type of violation, your car insurance carrier and your other personal characteristics.
NerdWallet found the companies offering the lowest car insurance rates for 35-year-old New Jersey drivers with different driving records. If you have multiple violations on your record, consider looking into the best high risk car insurance companies.
Cheapest car insurance in New Jersey after a speeding ticket
If you recently got a speeding ticket in New Jersey, check out these companies we found with the lowest average rates for minimum coverage:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $473 | $39 |
| State Farm | $820 | $68 |
| Progressive | $828 | $69 |
| NJM | $917 | $76 |
| Good2Go | $1,161 | $97 |
Cheapest car insurance in New Jersey after an accident
And here are the companies with the lowest average rates for minimum coverage and a recent at-fault accident in New Jersey:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $637 | $53 |
| NJM | $753 | $63 |
| State Farm | $773 | $64 |
| Progressive | $1,078 | $90 |
| Amica | $1,100 | $92 |
Cheapest car insurance in New Jersey after a DUI
For drivers with a recent DUI in New Jersey, here are the companies with the lowest average rates for minimum coverage:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Geico | $648 | $54 |
| Progressive | $745 | $62 |
| NJM | $917 | $76 |
| Plymouth Rock | $1,205 | $100 |
| Foremost | $1,377 | $115 |
» MORE: Getting an SR22 in New Jersey
Cheapest car insurance in New Jersey by credit history
Your credit history can impact your auto insurance rates in New Jersey. Insurers use a credit-based insurance score, which is different from your regular credit score, to determine the likelihood you’ll file a claim. Your credit score is likely a good indicator of your credit-based insurance score.
Cheapest car insurance in New Jersey for drivers with poor credit
NerdWallet found the companies offering the lowest car insurance rates for 35-year-old New Jersey drivers with poor credit. Drivers with poor credit in New Jersey can look at the following companies with the lowest average rates for minimum coverage:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Progressive | $847 | $71 |
| Good2Go | $997 | $83 |
| Plymouth Rock | $1,156 | $96 |
| Foremost | $1,296 | $108 |
| NJM | $1,337 | $111 |
How we chose the cheapest companies in New Jersey
NerdWallet’s editorial team analyzed car insurance rates from 16 auto insurers in New Jersey and listed the five cheapest options for drivers in several age brackets and with different histories, all driving a 2021 Toyota Camry LE. For minimum coverage, we looked at rates that reflect the minimum requirements in New Jersey. For full coverage, we used the below coverage limits:
$100,000 bodily injury liability per person.
$300,000 bodily injury liability per accident.
$50,000 property damage liability per accident.
$100,000 uninsured motorist coverage per person.
$300,000 uninsured motorist coverage per accident.
Collision coverage with a $1,000 deductible.
Comprehensive coverage with a $1,000 deductible.
- Why you can trust NerdWallet
Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our writing and data analyses. You can trust the prices we show you because our data analysts take rigorous measures to eliminate outliers and inaccuracies in pricing data, which include rates from every locale in New Jersey where coverage is offered and data is available. When comparing rates for different coverage amounts, ages and backgrounds, we change only one variable at a time, so you can easily see how each factor affects pricing.
Minimum auto insurance limits required in New Jersey
New Jersey is a no-fault state, requiring drivers to carry personal injury protection, or PIP, in addition to liability insurance. New Jersey is unique in that it offers a choice between two sets of requirements for minimum insurance coverage, in the form of a Basic Policy and a Standard Policy. The state says most drivers opt for Standard, but the Basic Policy is cheaper and has the lowest possible limits you can buy in the state.
Basic Policy:
$5,000 property damage liability per accident.
$15,000 personal injury protection.
Bodily injury liability isn’t required for the Basic Policy, but should you choose to buy it, the minimum is $10,000 per accident.
Standard Policy:
$15,000 bodily injury liability per person.
$30,000 bodily injury liability total per accident.
$5,000 property damage liability per accident.
$15,000 personal injury protection.
Liability car insurance covers the cost of any damage, injuries or deaths you cause in a car accident, up to your policy’s predefined limits.
Personal injury protection will cover your medical bills and expenses if you’re injured in a car crash, up to your policy limits, no matter whose fault it was. Depending on your state, PIP may also pay for:
Lost wages if you’re unable to work due to injuries from an accident.
Services you can no longer perform, like house cleaning or child care, because of your injuries.
Funeral costs if an accident-related injury leads to death.
A small death benefit as a cash payout.
Even though these minimums will allow you to drive legally, you may want to buy more liability coverage to better guard your savings and assets against lawsuits. For example, if you total another person’s car, the damage could easily exceed a $5,000 property damage liability limit on your policy. The difference would have to come out of your pocket.
It’s also wise to consider common optional coverages such as collision and comprehensive, which keep you from paying out of pocket if, say, you skid on ice and hit a tree, or your vehicle is stolen.
Learn more about your required and optional New Jersey coverages with our guide to state car insurance requirements.
Alternative car insurance in New Jersey
If DUIs, poor credit or other factors are preventing you from getting car insurance on the voluntary market, you can seek coverage through the New Jersey Automobile Insurance Plan.
For more help finding competitive car insurance quotes in New Jersey, try NerdWallet's car insurance comparison tool.
For our “good driver” profile, NerdWallet averaged insurance estimates for single male and female drivers with good credit and no tickets or violations. The analysis included 5-10 of the largest insurance companies in each state; smaller insurers were also included when rates were available. Liberty Mutual and its subsidiaries were excluded from our analysis as rates were not available.
For full coverage policies, we used the following coverage limits:
$100,000 bodily injury liability per person.
$300,000 bodily injury liability per accident.
$50,000 property damage liability per accident.
$100,000 uninsured motorist coverage per person.
$300,000 uninsured motorist coverage per accident.
Collision coverage with a $1,000 deductible.
Comprehensive coverage with a $1,000 deductible.
In states where required, minimum additional coverages were added. Some policies include additional coverages at the insurer’s discretion.
We used a 2021 Toyota Camry LE for all drivers and assumed 12,000 annual miles driven.
We analyzed rates for drivers 20 to 70 years old in ten-year increments. For the average cost of full and minimum coverage in each state, we looked at 35-year-old drivers.
We used the same assumptions for all other driver profiles, with the following exceptions:
For drivers with minimum coverage, we adjusted the numbers above to reflect the minimum required coverage by law in the state.
We changed the credit tier from “good” to “poor” as reported to the insurer to see rates for drivers with poor credit.
For drivers with one at-fault crash, we added a single at-fault crash that happened six months ago, resulting in $10,000 in property damage and no bodily injury claim.
For drivers with a DUI, we added a single drunken driving violation that happened six months ago.
We looked at 35-year-old drivers to find the cheapest company overall, the cheapest company for minimum coverage and the cheapest company for drivers with poor credit in states where credit history is used to price rates. We looked at 20-year-old drivers to find the cheapest company for young drivers.
These are rates generated through Quadrant Information Services. Your own rates will be different. Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state.
Compare Car Insurance Rates
by Drew Gula, Ryan BradyShopping for car insurance? Comparing car insurance rates can help you find the best price.
Read More
Cheap Car Insurance
by Ben Moore, Ryan BradyThe cheapest car insurance starts at $30 a month, according to NerdWallet's rate analysis.
Read More
Cheap Full Coverage Car Insurance for 2024
by Kayda Norman, Drew GulaNerdWallet analyzed rates from the nation’s largest insurers to find the cheapest full coverage car insurance.
Read More
