CarInsurance.com Insights
- Car insurance calculator is a valuable tool in estimating the cost of car insurance in New Jersey.
- The average annual cost of a full coverage policy in New Jersey with liability limits of 100/300/100 is $1,902 or $159 per month.
- The minimum liability coverage in New Jersey costs around $853 per year, based on CarInsurance.com’s data analysis.
Estimating the cost of car insurance in New Jersey depends on factors such as age, driving record, ZIP code, and the vehicle you drive.
CarInsurance.com’s auto insurance rate calculator uses your basic details to estimate car insurance costs in New Jersey for three different coverage levels: Full coverage, liability only (limits of 50/100/50) and state minimum coverage. Use the calculator below to find your average insurance rates.
Car insurance calculator New Jersey: How to get auto insurance estimates
When it comes to shopping for a policy, CarInsurance.com editors recommend that you get quotes from three different companies around renewal time – every six months – or annually. Get estimates for car insurance by using an online quoting tool.
Why? Because insurance companies have proprietary rating systems, each insurer rates factors like age or driving record differently. So, if you get a ticket, one company might penalize you 5%, while another company could penalize you 20%.
What factors affect car insurance estimates in New Jersey?
The biggest variation in insurance estimates from state to state depends on the state law. Tort insurance law varies from no-fault insurance law. Tort insurance law operates on the principle that the person responsible for causing an accident is liable for the damages. This often leads to litigation to determine fault and the extent of damage.
On the contrary, no-fault insurance laws, adopted in several U.S. states, simplify this process by mandating each party’s insurance company to cover their clients’ bodily injury losses, regardless of who caused the accident.
Learn about the 10 most important factors that affect car insurance rates
Calculate new car insurance rates in New Jersey by car model
It’s a good idea to get car insurance quotes before you purchase a new vehicle so you can factor that cost into your overall budget. Cars with smaller engines and advanced safety features generally have lower insurance premiums, making them a more affordable option to insure. On the contrary, luxury and sports cars usually have higher insurance costs.
| Vehicle type | Average annual rates |
|---|---|
| Convertible | $2,722 |
| Electric | $2,640 |
| Hatchback | $2,025 |
| Hybrid | $2,301 |
| Luxury Car | $2,986 |
| Luxury SUV | $2,577 |
| Minivan | $2,023 |
| Performance SUV | $3,016 |
| Sedan | $2,170 |
| Sports Car | $3,100 |
| Station Wagon | $2,435 |
| SUV | $1,984 |
| Truck | $2,098 |
| Van | $1,802 |
“The best way to get car insurance quotes is to comparison shop – making sure you are comparing apples to apples. The internet is a great resource to compare insurance products – be sure to line up the exact dollar coverage and any riders included as well,” says James Brau, Joel C. Peterson professor of finance at Brigham Young University’s Marriott School of Business. “If you’re calling specific insurance companies, have them email written quotes to make sure there is no misunderstanding. Oftentimes, lower-cost insurance quotes don’t offer as much protection as higher-priced premiums, so it is an exercise in comparing apples to oranges.”
Use the car insurance calculator below to estimate your rates in New Jersey by make and model.
Insurance rates by car model
Speak with a friendly agent and get your quote in minutes!
New Jersey car insurance estimates for used cars
Insuring a used car in New Jersey typically costs less than insuring a newer vehicle due to the car’s depreciation value, which affects the replacement cost. The premiums may vary based on your car’s age, make, model and driving history, but it’s recommended that you compare multiple insurance quotes to find the best rate.
Use the car insurance calculator below to estimate your rates in New Jersey for used cars by make and model.
Average insurance rates for your used car
Calculate your used car insurance coverage needs in a few simple steps
FAQ: How to estimate car insurance rates before buying a car in New Jersey
How much auto insurance do I need in New Jersey?
The amount of car insurance you need depends on various factors, including your financial situation, the value of your vehicle, and your risk tolerance. If your car is leased or financed, your lender may require comprehensive and collision coverage when paired with liability, this is known as full coverage.
Each state has different minimum insurance requirements, including New Jersey. But keep in mind that minimums are merely that – and are rarely enough financial protection in the event of a serious car accident.
| Minimum coverage | Minimum limit |
|---|---|
| Minimum bodily injury liability | $35,000/$70,000 |
| Minimum property damage liability | $25,000 |
How much does car insurance cost in New Jersey per month?
In New Jersey, the full coverage car insurance comprises collision, comprehensive and liability with the limits of 100/300/100 and cost $159 a month. On the other hand, state minimum coverage costs $71 and liability policy with limits 50/100/50 is $76 monthly.
Does your age impact how much you pay for insurance in New Jersey?
Young drivers in New Jersey typically face higher car insurance rates due to their limited driving experience and a higher likelihood of being involved in accidents. Insurance companies factor this increased risk into their premium calculations, leading to higher costs for younger drivers.
In addition, young drivers are more prone to risky behaviors like speeding and distracted driving, which further raises the cost of their car insurance.
Calculate car insurance rates in your neighboring states
Resources & Methodology
Methodology
CarInsurance.com editors collected rates from Quadrant Information Services for a 40-year-old male with a good insurance score and a 12-mile commute. The rates are for a full coverage policy with limits of 100/300/100 and a $500 deductible.
We analyzed 28,561,720 insurance quotes for 1,439 makes and models from 58 national and regional insurance companies across 510 ZIP codes.
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