Cheap Insurance for Ride Shares in New Jersey

The car, truck, or SUV you are seeking coverage for is a large factor that determines if you can find the best cheap auto insurance . Vehicles with limited top-end speed, advanced safety features, or a low likelihood of liability claims will cost much less to insure than adrenaline junky models. The tables below features insurance premiums for the most budget-friendly vehicles to buy insurance for.

Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Table data does not factor in the specific area where the vehicle is garaged which can change auto insurance rates substantially.

Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Information does not factor in specific location which can impact prices greatly.

Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Table data does not factor in vehicle location which can decrease or increase prices significantly.

One of the many things that helps insurance companies calculate the price you pay for insurance is your address. Areas that are densely populated or have higher claim frequency like East Orange, West New York, and Elizabeth tend to have more expensive auto insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims generally benefit from lower insurance rates.

The next table lists the higher priced cities in New Jersey to buy an auto insurance policy in.

Rate information is estimated as the specific zip code location can affect rates considerably.

Does full coverage make sense?

Finding cheap insurance in New Jersey is important to most drivers, and a great way to buy cheap insurance is to buy liability only. The illustration below compares premium costs with full coverage compared to only the New Jersey minimum liability coverage. The prices are based on no claims or violations, $500 deductibles, single marital status, and no discounts are factored in.

If averaged for all ages, physical damage coverage costs $2,257 per year more than insuring for liability only. A very common question is if buying full coverage is worth the money. There isn’t a written rule that works best for making the decision to drop physical damage coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is 10% or more of replacement cost minus your deductible, then it’s probably a good time to buy liability coverage only.

There are some scenarios where dropping physical damage coverage is not advised. If you still have a lienholder on your title, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

How to get discounts on New Jersey auto insurance rates

New Jersey car insurance “/>Insurance companies that provide cheap insurance in New Jersey may also give you rate discounts that can lower rates by as much as 40% or more if you meet specific criteria. A few of the larger companies and the discounts they provide can be read below.

The example below compares auto insurance costs with and without discounts applied. The premiums assume a female driver, no claims or driving violations, New Jersey state minimum liability limits, full coverage, and $1,000 deductibles.

The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with multiple policy, anti-theft, accident-free, homeowner, multiple vehicle, and passive restraint discounts applied. When drivers take advantage of discounts, the the average yearly reduction on car insurance is % or $.

State Farm, Allstate, Geico, and Progressive: Who is cheapest?

When buying car insurance in New Jersey, some of the first companies to look at are State Farm, Allstate, Geico, and Progressive. If you add them together, they insure over 45% of all auto insurance written. The table below ranks some of the different options offered by each one.