In New Jersey, the usual cost of auto insurance is $2,649 for complete coverage and $1,080 for minimal coverage, per Quadrant Information Services data. According to these numbers, New Jersey auto insurance prices are 8 percent higher than the national average for full coverage and 59 percent higher for minimal coverage.
In contrast, minimal coverage is currently $678 annually, while the national average for full coverage in 2024 is $2,458 annually. Individual premiums might differ greatly depending on personal criteria including location, age, and driving history. Insurance rates for cars might differ even within a state. The average rates in various cities and even ZIP codes may range from the state average and may be higher or lower.
Best Car Insurance in New Jersey December 2024
Since prices vary by city and ZIP code within the state, residents of New Jersey may discover that their rates deviate from these averages. The insurance rates in New Jersey are also more affordable than those in its surroundings. Regional insurance markets have a clear disparity, as verified by the much higher premiums in New York.
For drivers in New Jersey who want to know the cost of auto insurance in their state, Bankrate offers a useful benchmark by using extensive data research to guarantee reliable pricing information. The probability of accidents, local weather patterns, crime rates, the cost of auto repairs, and the cost of healthcare services in your community are some of the possible causes of this.
The cost of auto insurance is far greater in New Jersey than it is countrywide. Those who select the best auto insurance in New Jersey can frequently get coverage for significantly less, but that’s difficult for drivers to accept. A closer look at the best firms for different kinds of drivers is provided here, along with important facts that all New Jersey drivers should be aware of. It is crucial to understand that driving without coverage is beside the law.
In addition to the potential financial loss resulting from driving without insurance, driving without insurance carries increasingly harsh consequences, including fines, license or registration suspension, and even jail time. If you are ever discovered driving without insurance again, your vehicle may be seized.
Types of Car Insurance Policy
You must decide on some factors, including the coverage you require and your financial situation, whether you are purchasing a new insurance policy or renewing an existing one. The Standard Auto Insurance Policy offers the ability to acquire additional protection as well as a variety of coverage alternatives. The majority of New Jersey drivers choose the Standard Policy.
Knowing what you need is vital. Are you a homeowner or renter? Do you have assets, such as earnings from a work, that you want to safeguard? Do you have health insurance that will cover injuries from auto accidents? The below-mentioned table below will help you to describe the type of coverage and both standards or basic policy.
| Types of Coverage | Standard Policy | Basic Policy |
| Bodily Injury obligation (Coverage for claims and lawsuits by people damaged as a result of an auto accident you cause) | Lowest: $50,000 per accident Highest: $25,000 Per person | Coverage is not applied but $10,000/ person per accident is an option. |
| Property Damage obligation (if you reason any property damage as a result of an auto accident) | Lowest: $25,000 per accident Highest: $100,000 or more | $50,000/ Accident |
| Personal Injury Defence (Coverage for injuries continued in an automobile accident by you or other individuals covered below your policy) | Lowest: $25,000 per accident Highest: $100,000 or more | $15,000/ person, per accident For certain injuries up to $250,000 |
| Uninsured/Underinsured Motorist Coverage (If an accident occurs that is caused by an uninsured motorist (a driver who does not have the least amount of insurance required by law) or an insured driver whose treatment is less than your underinsured motorist coverage, coverage will pay for any assets damage or bodily damage) | The coverage amount will be based on selected liability coverage. | None |
| Comprehensive (coverage for auto damage that does not stem from an accident, like theft, vandalism, flooding, fire, or a cracked windshield. In the event of an animal collision, comprehensive coverage also pays) | Based on an option | Based on an option |
| Collision (damaged vehicle coverage as the result of a crash with another car or object) | Based on an option | Based on an option |
Cost of Car Insurance in New Jersey
The annual cost of New Jersey auto insurance is significantly more than the $3,017 national average. For a number of typical driver profiles, the average monthly and annual premiums are shown in the table below. Real prices, however, will differ based on a number of factors, including the driver’s location within the state, the make and model of their car, and more.
| Driver Persona | Average Monthly Premium | Average Annual Premium |
| Overall | $359.67 | $4,316 |
| Drivers with Clean Records | $273.75 | $3,285 |
| Teen Drivers | $766.83 | $9,202 |
| Seniors Driver | $259.17 | $3,110 |
| Military Drivers | $272.08 | $3,265 |
| Driver with one accident | $400.08 | $4,801 |
| Deriver with a speeding ticket | $354.67 | $4,256 |
| Drivers with one DUI | $517.17 | $6,206 |
| Drivers Seeking Minimum Coverage | $119.50 | $1,434 |
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.