New Jersey was long regarded as one of the worst places to get auto coverage in the U.S. While the situation has improved somewhat in recent years, it can still be a challenge to obtain cheap car insurance in New Jersey. Several companies like Geico who once abandoned with NJ market have now returned, making competition fiercer and driving prices lower. With more insurance companies vying for your business than in past years, there has never been a better time to compare rates and get a great policy.
To battle its longtime perception of having the highest insurance rates, the state passed the Automobile Insurance Cost Reduction Act which makes it easier for drivers to get cheap car insurance in New Jersey. The Act provides a bare bones policy that includes $15,000 per person in personal injury protections, and $250,000 in coverage for permanent or significant injury. This basic coverage option is generally cheaper than standard auto insurance. This basic policy is often referred to as 15/30/5 coverage with 15/30 UM limits.
New Jersey has a Choice No-Fault system which allows drivers to reject the No-Fault system and retain the right to sue for an injury caused by a car accident.
While the situation has gotten better for drivers to get cheap car insurance in New Jersey, the state is still well above the national average. New Jersey residents currently pay an average of $2,500 for a policy, compared to $1,794 for the national average. Moreover, rates have been rising as of late. Auto insurance premiums in NJ are 13% higher in 2009 than last year.
With so much change in the market, it is imperative that you actively compare rates to get cheap car insurance in New Jersey. Using this site you can instantly get rate quotes from multiple insurers doing business in New Jersey. Just enter your zip code in the form at the top of the page and then click on one or more of the companies presented.
If you live in New Jersey and are still paying high car insurance rates, it’s time to stop getting gouged and start saving money.