Cheap Auto Insurance Quotes In NJ
Finding cheap auto insurance in NJ is achievable even though the average annual premium rate is expensive here. Motorists in New Jersey pay a bit over $2,500 on average for their car insurance – this is nearly $1,000 above the U.S. national average.
New Jersey is a no-fault choice state meaning that drivers can opt out of the no-fault system and stay with the tort system. Staying with the tort system allows a driver to sue for the injuries they sustain in an automobile accident. The no-fault system limits the right of a driver to sue. In addition, injuries are paid by the policyholder’s own insurance company, no matter who was at fault for the accident. Furthermore, drivers opting for the no-fault system must purchase Personal Injury Protection (PIP).
The following is information about the two main automobile insurance policy types in NJ – basic and standard:
- The basic policy consists of liability coverage with minimum limits of $15,000 for injuries to each person / $30,000 for all injuries per accident / $5,000 for all property damage per accident. Note: NJ has one of lowest liability minimums in the nation; however, it is the most expensive state for auto insurance. Although not a state, Washington D.C. is the most expensive area in the United States for auto insurance.
- The standard policy consists of liability with a minimum limit of 15/30/5; uninsured/underinsured motorist bodily injury with minimum limits of 15/30; Uninsured motorist property damage with a minimum limit of $5,000; PIP (Personal Injury Protection) with a $15,000 limit.
Both, the standard and basic plan include a $250,000 limit on PIP, to pay for significant injuries.
In this state, comparison shopping is a must for drivers looking for cheap auto insurance. There are 81 licensed insurance companies in this state that would be happy to take your business. Comparing as many of the companies as humanly possible is the best way to find the best deal.
Some facts pertaining to New Jersey auto insurance:
- NJ is the second most densely populated state in the nation - one of the factors for the high automobile insurance premiums here.
- Over the last one year period, New Jersey rates have stayed pretty much steady.
- It takes the average driver about 30 minutes to commute to work each day in this state.
The top 10 most frequently stolen cars in the Garden state are: 2006 Nissan Altima; 1996 Dodge Caravan; 1995 Honda Civic; 2000 Dodge Intrepid; 1996 Nissan Maxima; 1994 Honda Accord; 1995 Acura Integra; 2000 Jeep Cherokee/Grand Cherokee; 1991 Toyota Camry; 1994 Plymouth Voyager. Owning a vehicle that is listed as frequently stolen will incur higher rates. By the way, even older cars are targeted for their parts.
