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Best car insurance in New Jersey for 2022

Updated Dec 08, 2022
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Best car insurance companies in New Jersey

The average annual premium for car insurance in New Jersey is $1,891 for full coverage and $855 for a minimum coverage policy. Bankrate’s insurance editorial team conducted research on the largest car insurance companies by market share in the Garden State. According to our proprietary premium data, third-party scoring from the J.D. Power 2022 U.S. Auto Insurance Study and other important metrics, Geico, NJM, Selective, State Farm and Travelers are among the best auto insurance companies in New Jersey.

You might want to get a quote from the following companies if you are searching for the best auto insurance in New Jersey:

Geico
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
J.D. Power score (Mid-Atlantic)
834
/1,000
Average monthly full coverage premium
$115
Average annual full coverage premium
$1,374
State Farm
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
J.D. Power score (Mid-Atlantic)
851
/1,000
Average monthly full coverage premium
$128
Average annual full coverage premium
$1,531
Travelers
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
J.D. Power score (Mid-Atlantic)
860
/1,000
Average monthly full coverage premium
$117
Average annual full coverage premium
$1,403
NJM
Rating: 4.4 stars out of 5
4.4
Bankrate Score
Info Hover for more
J.D. Power score (Mid-Atlantic)
844
/1,000
Average monthly full coverage premium
$104
Average annual full coverage premium
$1,242
Selective
Rating: 4.2 stars out of 5
4.2
Bankrate Score
Info Hover for more
J.D. Power score (Mid-Atlantic)
Not rated
Average monthly full coverage premium
$97
Average annual full coverage premium
$1,159
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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Geico
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
J.D. Power score (Mid-Atlantic)
834
/1,000
Monthly min coverage premium
$43
Annual min coverage premium
$516
State Farm
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
J.D. Power score (Mid-Atlantic)
851
/1,000
Monthly min coverage premium
$66
Annual min coverage premium
$788
Travelers
Rating: 4.7 stars out of 5
4.7
Bankrate Score
Info Hover for more
J.D. Power score (Mid-Atlantic)
860
/1,000
Monthly min coverage premium
$56
Annual min coverage premium
$675
NJM
Rating: 4.4 stars out of 5
4.4
Bankrate Score
Info Hover for more
J.D. Power score (Mid-Atlantic)
844
/1,000
Monthly min coverage premium
$30
Annual min coverage premium
$364
Selective
Rating: 4.2 stars out of 5
4.2
Bankrate Score
Info Hover for more
J.D. Power score (Mid-Atlantic)
Not rated
Monthly min coverage premium
$39
Annual min coverage premium
$472
Powered by Coverage.com (NPN: 19966249)
Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Best car insurance company for discounts

J.D. Power:
834 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 516
Avg annual premium for full coverage:
$ 1,374
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

Best car insurance company for local agents

J.D. Power:
851 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 788
Avg annual premium for full coverage:
$ 1,531
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

Best car insurance company for drivers looking for multiple policy types

J.D. Power:
860 /1,000
AM Best:
A ++
Avg. annual premium for minimum coverage:
$ 675
Avg annual premium for full coverage:
$ 1,403
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

Best car insurance company for drivers with an accident on their record

J.D. Power:
844 /1,000
AM Best:
A +
Avg. annual premium for minimum coverage:
$ 364
Avg annual premium for full coverage:
$ 1,242
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

Best car insurance company for cheap rates

J.D. Power:
Not rated
AM Best:
N/A
Avg. annual premium for minimum coverage:
$ 472
Avg annual premium for full coverage:
$ 1,159
Get a personalized quote

Answer a few questions to see personalized rates from top carriers.

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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

How Bankrate chose the best car insurance companies in New Jersey

The Bankrate insurance editorial team issued Bankrate Scores to the most prominent companies that offer New Jersey auto insurance. These Scores run from 0.0 to 5.0, with 5.0 being the best score available. We formulated these scores by first reviewing proprietary 2022 premium data provided by Quadrant Information Services. Then, we compiled third-party ratings from J.D. Power and AM Best, and considered other factors like discount offerings, coverage packages and online services. Our goal is that our holistic scoring system will help you choose the best car insurance company in New Jersey tailored to fit your specific needs.

How much is car insurance in New Jersey?

The average cost of car insurance in New Jersey is $1,891 per year for full coverage car insurance, according to 2022 data obtained from Quadrant Information Services. Minimum coverage costs an average of $855 each year. This is a bit higher than the national average cost of car insurance, which is $1,771 per year for full coverage and $545 per year for minimum coverage. Because New Jersey is mostly urban, the state has a high population density and more cars on the road. That means car accidents are more likely, which is reflected in the higher-than-average auto insurance premiums. You should also keep in mind that your rates will likely differ from the averages based on your individual rating factors.

Also, compared to the rates of other states, New Jersey’s premiums aren’t as high as they seem. Take Pennsylvania, for instance. Although Pennsylvania and New Jersey are neighbors, the average cost for a full coverage policy in Pennsylvania is $2,002, more than $100 higher than New Jersey. New York is even higher, averaging a whopping $2,996.

Average annual premium for minimum coverage in New Jersey Average annual premium for full coverage in New Jersey
$855 $1,891

How to find the best car insurance in New Jersey

Drivers in New Jersey must maintain continuous coverage to avoid potential hefty fines and suspensions to their driver’s licenses and vehicle registrations. In addition to complying with the law, a sufficient car insurance policy could provide essential financial protection if you are involved in a car accident. Since every driver has their own needs when it comes to auto insurance, no one company will be best for all. For this reason, it may be a good idea to shop around and request quotes from multiple companies. We’ve compiled some things you might want to keep in mind while you’re shopping so that you can find auto insurance in New Jersey that fits your needs.

Consider minimum insurance requirements in New Jersey

New Jersey car insurance laws are unique, and it is a no-fault state. There are two options for minimum required coverage: the basic policy and the standard policy. Basic policies include just a required level of property damage liability per accident and personal injury protection (PIP) coverage and come with the option to purchase bodily injury liability coverage. If you choose a basic policy, your ability to add other coverage types could be limited.

Standard policies include bodily injury liability, property damage liability and PIP, and also come with a broader range of optional endorsements to choose from. Understanding New Jersey’s car insurance laws could help you decide if you need to purchase more coverage than just the minimum required.

Consider lender requirements

Drivers with loans or leases may have additional car insurance requirements to consider. Financing and leasing companies want financial protection for their asset (your vehicle) until it is paid off and in your name. They often do this by imposing insurance requirements that you must meet to comply with your financing or leasing agreement. To satisfy lender requirements, you may need to have full coverage insurance, which includes comprehensive coverage and collision coverage on your car insurance. Although not required, you could also consider gap insurance, which helps pay the difference between your loan balance and your vehicle’s cash value if your car is totaled.

Consider your individual needs

Auto insurance is a highly personalized product. Each driver has their own needs, but you might find that not every company offers what you are looking for. If you have a youthful driver in your home, you may need to tailor your search toward companies that offer cheap car insurance rates for teens. Those who work remotely may find savings by purchasing pay-per-mile insurance. If you drive for a ridesharing company like Uber or Lyft, you may need to find a company that offers rideshare insurance. Before you shop, it can be helpful to list your priorities and use this as a guide while requesting car insurance quotes.

Info
Latest news: Minimum car insurance rates in New Jersey set to rise in 2023 and 2026

It’s important to note that if you are a current New Jersey auto policyholder, depending on your coverage, you may experience a rate increase next year due to new car insurance laws that will increase the amount of coverage required. In August 2022, Governor Phil Murphy signed a law that increases the minimum bodily injury liability limit for New Jersey drivers to a $25,000 minimum starting in 2023, with another bump to a $35,000 minimum in 2026. The current minimum limit for a standard New Jersey auto policy is $15,000/$30,000, which means the average cost for the minimum amount of insurance required by the state is likely to increase as well.

Frequently asked questions

Written by
Cate Deventer
Insurance Writer & Editor
Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent.
Edited by Insurance Editor
Reviewed by Assistant Vice President & Claims Field Manager