Who Has Cheap Auto Insurance for High Risk Drivers in New Jersey?

Deciding which companies quote the cheapest insurance rates for high risk drivers involves a little more work in order to find the lowest price quote. Each auto insurance company has a proprietary formula to establish rates, so let’s look at the rankings for the overall cheapest insurance companies in New Jersey.

It’s important to understand that New Jersey insurance rates are determined by lots of factors that will increase or decrease the policy price. Simply improving your credit, increasing deductibles, or having an at-fault accident can trigger rate changes that may make certain companies much cheaper than others.

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google.charts.setOnLoadCallback(drawNJT5qcibChart);function drawNJT5qcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }], [’21st Century’, 1067, ‘#F07050’], [‘Travelers’, 1145, ‘#C85D42’], [‘New Jersey Manufacturers’, 1271, ‘#A64D37’], [‘Penn National’, 1325, ‘#8A402D’], [‘Palisades’, 1395, ‘#733525’]]);var options = {title: ‘Low-Priced Auto Insurance Companies in New Jersey’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:1495,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibt5cic’));chart.draw(view, options);}

21st Century may offer some of the most affordable car insurance rates in New Jersey at around $1,067 each year. Travelers, New Jersey Manufacturers, Penn National, and Palisades also make the cut as some of the best New Jersey car insurance companies.

In this example, if you are currently insured with Penn National and switched to Travelers, you could earn a yearly savings of in the neighborhood of $180. Insureds with Palisades might save as much as $250 a year, and California Casualty customers might lower prices by $292 a year.

These premium estimates are averaged for all insureds and vehicles and and are not calculated with a price increase for high risk drivers. So the auto insurance company that is best for you may not even be shown in the list of companies shown earlier. That helps illustrate why you need to get quotes using your own driver and vehicle profiles.

When shopping for cheaper auto insurance for high risk drivers, one of the many factors that impact insurance cost is your zip code in New Jersey. Areas with a lot of weather claims or more people like Newark, Paterson, and Union City tend to have higher rates, whereas areas that are not as densely populated benefit from lower rates.

The table below rates the priciest cities in New Jersey for high risk drivers in which to purchase auto insurance.

Premium amounts are estimated as zip code location can influence prices significantly.

The model of vehicle you are insuring is probably the largest consideration when comparison shopping for cheap car insurance for high risk drivers in New Jersey. Vehicles with more horsepower, poor crash test ratings, or an increased likelihood of liability claims will cost much more to insure than more modest models. The tables below estimates coverage costs for the cheapest automobiles to insure in New Jersey.

Cost estimates assume married male driver age 30, two speeding tickets, two at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, multi-policy, and homeowner. Table data does not factor in specific New Jersey garaging location which can modify auto insurance rates noticeably.

Data based on married male driver age 30, two speeding tickets, two at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Estimates do not factor in vehicle location which can change price quotes substantially.

Data based on married male driver age 30, two speeding tickets, two at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, homeowner, and multi-vehicle. Premium amounts do not factor in garaging location in New Jersey which can decrease or increase auto insurance rates greatly.

Responsible drivers pay cheaper New Jersey insurance rates

In a perfect world, the ideal way to get low insurance rates for high risk drivers is to drive safe and have a clean driving record. The information below demonstrates how traffic citations and at-fault claims drive up insurance rates for different age categories. The premiums are based on a single female driver, comp and collision included, $100 deductibles, and no discounts are applied to the premium.

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In the example above, the average cost of auto insurance in New Jersey per year with no accidents or violations is $3,545. Get two speeding tickets and the average cost increases to $4,782, an increase of $1,236 each year. Now add two accidents along with the two speeding tickets and the annual cost of insurance for high risk drivers jumps again to an average of $9,135. That’s an increase of $5,589, or $466 per month, just for not being a responsible driver!

Get discount New Jersey auto insurance

Auto insurance companies that offer cheap car insurance for high risk drivers in New Jersey may provide discounts that can lower rates by 35% or more if you are eligible. Companies and some of the premium reductions they offer are shown below.

The example below visualizes the comparison of car insurance costs with and without discounts applied to the premium. The costs are based on a female driver, two violations and two accidents, New Jersey state minimum liability limits, comp and collision included, and $1,000 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with paid-in-full, paperless filing, multiple policy, anti-theft, passive restraint, and homeowner discounts applied. With discounts applied, the average savings per year on insurance for high risk drivers is % or $.

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How to find cheaper insurance for high risk drivers

It is possible to find better rates, and here are a few thrifty solutions that can help New Jersey drivers locate the cheapest coverage.

• Bundle home and auto and earn a discount
• Good credit can help you save money
• Do not file small claims
• Increase deductibles to save money
• Save money by observing traffic laws and speed limits
• Prevent rate increases by staying accident-free
• Compare rates and switch if you can find a better deal

The last tip is incredibly significant, as was stressed in this piece. Insurance prices go up and down frequently, so you should be ready to change insurance companies if you can save money. Brand loyalty is great, but we do not recommend it if that loyalty ends up costing thousands of dollars over several years. If you have a few minutes, compare prices to find cheaper car insurance for high risk drivers.