Car insurance is an essential expense for drivers in New Jersey, and understanding its components is critical in making informed decisions regarding coverage options and budget. Unfortunately, car insurance can often feel daunting and complex to navigate; with various personal factors affecting rates. Bankrate has created an interactive calculator widget which takes these variables into account and gives users an approximate cost estimate based on current average rates in New Jersey.
The average New Jersey car insurance rate depends on a variety of variables, such as your age, driving record and gender. All these elements come together to form your individual premium – which makes shopping around for the best price critical. When comparing quotes it helps knowing what the average New Jersey car insurance rate is so drivers can easily determine whether they are paying too much or getting the best possible deal.
For an idea of the cost of car insurance in New Jersey, The Zebra has collected data on average rates by driver type in New Jersey. Our partner insurance companies provide real-time quote data which captures prices for drivers ranging from teens to senior citizens.
Young drivers in New Jersey tend to experience higher average car insurance rates, due to statistical evidence suggesting they are more likely to become involved in accidents and file more claims. Maintaining a clean driving record can significantly lower car insurance rates since insurers assume some level of risk with every policy purchased.
Your vehicle plays an integral part in determining your car insurance rates; its year, make and model have an immense effect. For instance, in New Jersey the insurance costs associated with an Acura ILX 2.4L average around $1,999 annually while those for a 2020 Toyota 4Runner Limited only vary slightly at approximately $2,000.
Safety features in your vehicle play an integral part in New Jersey auto insurance premiums. Anti-lock brakes, automatic seat belts and rearview cameras all can contribute to reducing premiums; all can help bring down premium costs.
As one of the key influencing factors on New Jersey insurance rates is where you live. Certain areas with higher crime rates or increased traffic congestion could increase premiums significantly.
New Jersey provides two car insurance policies to drivers: standard and basic. While basic policies only include minimum liability requirements under state law, standard policies provide optional collision and property damage liability coverages as well as limited or unlimited right to sue options that can alter liability limits and premium costs accordingly.