Insurance New Jersey: 10 Essential Tips to Save Money on Auto Insurance

What you need to know about insurance in New Jersey

New Jersey is a state with a mandatory auto insurance law. This means that all drivers in the state must have auto insurance. The minimum coverage required by law is liability coverage, which covers damages to other people or property if you cause an accident. However, you can also purchase additional coverage, such as collision coverage, comprehensive coverage, and uninsured/underinsured motorist coverage.

The average cost of auto insurance in New Jersey is $1,653 per year. This is higher than the national average of $1,426 per year. There are a number of factors that can affect the cost of your auto insurance, including your driving record, your age, your gender, and the type of car you drive.

10 ways to save money on auto insurance in New Jersey

There are a number of ways to save money on auto insurance in New Jersey. Here are 10 tips:

1. Shop around for the best rates. There are a number of different auto insurance companies in New Jersey, so it's important to shop around to find the best rates. You can get quotes from different companies online or by talking to an insurance agent.
2. Increase your deductible. Your deductible is the amount of money you have to pay out of pocket before your insurance coverage kicks in. Increasing your deductible can lower your monthly premiums. However, it's important to choose a deductible that you can afford to pay if you need to make a claim.
3. Take a defensive driving course. Taking a defensive driving course can help you improve your driving skills and make you a safer driver. This can lead to lower insurance premiums.
4. Maintain a good driving record. One of the most important factors that insurance companies consider when setting your rates is your driving record. If you have a clean driving record, you're likely to get lower insurance rates.
5. Get a good credit score. Insurance companies often use your credit score to determine your insurance rates. A higher credit score can lead to lower insurance premiums.
6. Drive a safe car. The type of car you drive can also affect your insurance rates. Cars that are more likely to be involved in accidents or that are more expensive to repair will have higher insurance premiums.
7. Install safety features in your car. Installing safety features in your car, such as anti-lock brakes or airbags, can help you reduce your insurance premiums.
8. Bundle your insurance policies. If you have other insurance policies, such as home insurance or renters insurance, you may be able to get a discount on your auto insurance by bundling your policies with the same company.
9. Ask for discounts. Many insurance companies offer discounts for things like being a good student, having a good driving record, or being a member of certain organizations. Be sure to ask your insurance company about any discounts that you may be eligible for.
10. Review your insurance policy regularly. Your insurance needs can change over time, so it's important to review your policy regularly to make sure that you have the right coverage for your needs.

FAQs About Insurance New Jersey

1. What is the minimum auto insurance coverage required in New Jersey?

The minimum auto insurance coverage required in New Jersey is liability coverage, which covers damages to other people or property if you cause an accident.

2. How much does auto insurance cost in New Jersey?

The average cost of auto insurance in New Jersey is $1,653 per year.

3. What are some ways to save money on auto insurance in New Jersey?

There are a number of ways to save money on auto insurance in New Jersey, including:

• Shopping around for the best rates
• Increasing your deductible
• Taking a defensive driving course
• Maintaining a good driving record
• Getting a good credit score
• Driving a safe car
• Installing safety features in your car
• Bundling your insurance policies
• Asking for discounts
• Reviewing your insurance policy regularly

4. What should I do if I get into an accident in New Jersey?

If you get into an accident in New Jersey, you should:

• Pull over to the side of the road.
• Turn on your hazard lights.
• Call the police.
• Exchange information with the other driver(s) involved.
• Take pictures of the damage.
• Report the accident to your insurance company.

5. What happens if I don't have auto insurance in New Jersey?

If you don't have auto insurance in New Jersey, you could be fined up to $500 and have your license suspended. You could also be held liable for any damages or injuries that you cause to other people or property.

6. How can I find out more about auto insurance in New Jersey?

You can find out more about auto insurance in New Jersey by visiting the New Jersey Department of Banking and Insurance website or by talking to an insurance agent.