photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, With Presidents’ Day approaching and with COVID-19 causing drastic changes in people’s driving habits and personal finances, WalletHub today released a new report on the States with the Cheapest & Most Expensive Car Insurance, along with a review of New Jersey’s Best Cheap Car Insurance Companies (plus accompanying videos and audio files).
Based on WalletHub’s analysis, New Jersey was determined to be the 3rd most expensive state for car insurance in 2021. You can find some additional highlights below.
Top 5 Cheap Car Insurance Companies in New Jersey:
- Geico
- NJM Insurance
- Travelers
- State Farm
- Amica Mutual
Other Key Findings:
- Full coverage car insurance costs 133% more than minimum coverage in New Jersey, on average.
- 16-year-olds pay 341% more for car insurance than 55-year-olds in New Jersey, on average.
- Women pay 11% more than men for car insurance in New Jersey, on average.
- Drivers with a DUI pay 94% more for car insurance than drivers with a clean record in New Jersey, on average.
- 61 million Americans have reduced their car insurance coverage due to COVID-19.
- 105 million Americans say they’re not getting their money’s worth from their car insurance.
- 55 million Americans have second thoughts about owning a car due to COVID-19.
I have Geico for my 2 cars in NJ. At $4000 for the year it is far from cheap!
Ok, for what kind of cars.
A Bugatti La Voiture Noire (for crusin)
and a Pagani Zonda HP Barchetta (for fun)
I had to get rid of my Rolls Royce Sweptail– the insurance was too much and I never really warmed to the love it or hate it headlight treatment.
The Bugatti is also getting long in the teeth so I’ll probably be selling that within the year if I find something nicer.
No fault insurance is the problem
Tell us something we don’t know! Another reason to move out