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The average cost of insurance in Jersey City for full coverage is $2,304 per year or $192 per month. A minimum coverage policy averages $1,119 per year. Both of these rates are well above the national average, making finding the cheapest car insurance in Jersey City a priority for many residents. The cheapest auto insurance company in Jersey City is NJM, according to Bankrate’s 2021 Listed Annual Premiums Study.

Although the cheapest rate for auto insurance may be desirable, many insurance agents recommend considering stronger coverage for better financial protection in the event of an accident. Bankrate looked beyond rates to compile our list of the best cheap car insurance in Jersey City.

Best Cheap Car Insurance Companies in Jersey City

NJM, State Farm, Amica and Allstate not only have the cheapest car insurance rates in Jersey City, but each is highly rated in other areas. The following criteria were considered to find the best auto insurance companies in Jersey City: financial strength ratings from AM Best, customer service and claims satisfaction ratings from JD Power, market share, coverage options and discounts available. We looked at all of these criteria to determine the Bankrate Score out of five possible points.

NJM Insurance

NJM, also known as New Jersey Manufacturers Insurance Company, provides coverage primarily in New Jersey and Pennsylvania. It’s the second insurer in market share in New Jersey, covering 13.2% of drivers in the state and the cheapest auto insurance company on our list, based on its average rates.

In the Mid-Atlantic region of the 2021 JD Power Auto Insurance Study, NJM received an above-average rating totaling 867 points out of a possible 1,000. However, where NJM may fail is for those who prefer to manage their policy through an app, as NJM currently does not provide a mobile app option.

Learn more: NJM Insurance Review

state farm

State Farm isn’t just a good neighbor. It also offers reasonable average car insurance rates for Jersey City drivers and a high Mid-Atlantic score of 851 in the 2021 JD Power Car Insurance Study. State Farm offers several methods to manage your police, including over 19,000 local officers, an online portal, a 24/7 customer service line and a popular mobile app. Although State Farm offers a wide range of coverage options, some may be disappointed with the more limited options for potential discounts available compared to what other providers offer.

Learn more: State Farm Insurance Review

Amica

Amica offers coverage not found elsewhere for auto insurance, including free airbag repair after an accident, free lock replacement for lost keys, and $1,000 for damage deposits for eligible policyholders. As one of the nation’s oldest auto insurance companies, Amica has long earned top financial strength ratings from agencies like AM Best and positive customer reviews in studies from organizations like JD Power. Although its average full coverage premium is the third highest on our list, it’s still below the Jersey City average and the company has a lot to offer its policyholders.

Learn more: Amica Insurance Review

Allstate

As the fourth largest insurer in Garden State, Allstate makes our list of the best cheap auto insurance in Jersey City with plenty of coverage options and discounts to choose from. Allstate has excellent financial strength ratings from AM Best, indicating a strong track record of being able to pay claims. However, Allstate’s Complaint Index to the NAIC is a bit above average in New Jersey at 1.48 compared to the national average of 1.00.

Learn more: Allstate Insurance Review

How to Get and Keep the Cheapest Auto Insurance in Jersey City

Knowing how to find cheap auto insurance companies is one task, but keeping rates affordable is another. Keep this in mind when looking for the cheapest fares.

  • Compare several insurers. Rates can vary widely from provider to provider, so it pays to compare quotes from different providers. This allows you to see exactly how much a company’s rates are more or less favorable to you. Be sure to compare the same coverage options, so you know you’re getting the best price for what you need.
  • Maintain a clean driving record. Not only does maintaining a good driving record protect you and others on the road, it can also save you money. Most insurers offer safe driving discounts and claims-free savings, which could help you qualify for lower premiums.

Frequently Asked Questions

What is the best car insurance company in Jersey City?

The best auto insurance companies are the ones that meet your exact coverage needs. It could also include the most important discounts for you, the financial strength of the company and the claims experience. Consider shopping around and comparing quotes and experiences from multiple companies to find the best car insurance for you.

How can I lower my car insurance rates in Jersey City?

There are several methods to lower fares, including shopping around. You can also compare discounts from one provider to another and review the deductibles currently in place. If you’re willing to increase your deductible, it could mean lower premiums. Keep in mind, however, that this is only a good option if you are comfortable with paying more out of pocket if you file a claim.

How much car insurance do I need in Jersey City?

The amount of car insurance to take out is different for everyone. Most financial experts recommend that New Jersey drivers have more than the minimum amount of auto insurance required by the state. Choosing higher liability limits and comprehensive coverage options, such as Comprehensive and Collision Damage Waiver, could provide you with greater financial protection in the event of an accident. If you’re not sure how much car insurance is right for you, talk to your insurance agent.

Methodology

Bankrate uses Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates shown are based on a 40-year-old male and female with a clean driving record, good credit and the following full coverage limits:

  • Civil liability of $100,000 in bodily injury per person
  • Civil liability of $300,000 in bodily injury per accident
  • Civil liability of $50,000 in property damage per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 aggregate deductible

To determine minimum coverage limits, Bankrate has used minimum coverages that meet each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week, and drive 12,000 miles a year.

These are sampling rates and should only be used for comparison purposes. Your quotes may be different.

Rates are determined based on 2021 Quadrant Information Services data.

Discount rate score

Exchange rate scores primarily reflect a weighted ranking of industry standard ratings for financial strength and customer experience, in addition to analysis of annual premiums quoted by Quadrant Information Services, covering all 50 states and Washington, D.C. DC We know it’s important for drivers to feel confident that their financial protection covers the most likely risks, is priced competitively and is provided by a financially strong company with a track record of positive customer support.

In determining how well the top auto insurance companies meet these priorities, third-party agency ratings from JD Power, AM Best, S&P, NAIC, and Moodys had the most impact on the companies’ currency scores. . Since price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, evaluated on over 35,000 U.S. zip codes, has provided a basis on which drivers can compare each supplier.

While coverage options, insurer availability, affordability and customer experience are often top priorities, Bankrate also analyzed each insurer’s online and mobile resources for managing policies and handling claims. Insurance is changing rapidly to keep pace with our digital world, so these aspects have also weighed in determining the exchange rate scores.

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