Auto Insurance in New Jersey
The average car insurance cost in New Jersey is $1,905 per year for full coverage. New Jersey requires minimum liability coverage of 15/30/5. The state's uninsured driver rate is 10.6%, which is above the national average of 12.6%.
Top auto insurers in New Jersey: GEICO, State Farm, NJM. We recommend comparing quotes from at least 5 companies, as rates can vary by 50% or more between insurers for the same driver profile.
Home Insurance in New Jersey
Homeowners insurance in New Jersey averages $1,450 per year for $300,000 in dwelling coverage. This is below the national average of $1,820/year. Rates are influenced by natural disaster risk, construction costs, and local claim frequency in the Northeast region.
Health Insurance in New Jersey
The average individual health insurance premium in New Jersey is approximately $560/month before subsidies through the ACA marketplace. Many New Jersey residents qualify for premium tax credits that reduce this cost to $50-$200/month.
Minimum Insurance Requirements
New Jersey requires all drivers to carry minimum liability insurance of 15/30/5. This means: $15,000 per person for bodily injury, $30,000 per accident total for bodily injury, and $5,000 for property damage per accident. While these minimums are legally sufficient, most financial advisors recommend 100/300/100 coverage.
Top Insurance Companies in New Jersey
The largest and most popular insurance companies in New Jersey include:
- GEICO — Market leader in New Jersey
- State Farm — Competitive rates and strong service
- NJM — Popular choice with good coverage options