If you are bargain hunting for some of the least expensive rates for insurance in Essex County and all of NJ, Nerdwallet.com has compiled a list of their insurance partners and created their own opinions after researching and putting companies up against consumer tests according to writer Lacie Glover.
Glover said rates vary significantly from one company to the next, so it’s wise to compare several quotes rather than settle for the first price you see.
Here is a complete list that Glover and Nerdwallet.com compiled:
**Cheapest for good drivers in New Jersey**
For good drivers with good credit in New Jersey, here are the cheapest companies for car insurance, and their average rates:
Travelers: $1,275 per year.
NJM: $1,418 per year.
Geico: $1,721 per year.
State Farm: $1,980 per year.
Esurance: $2,232 per year.
According to Nerdwallet.com writer Lacie Glover, drivers with no recent accidents or violations can get cheaper full coverage car insurance rates for having good credit. Glover said NerdWallet averaged rates for 40-year-old men and women with a clean driving record and good credit.
**Cheapest for drivers with poor credit**
For drivers with poor credit but clean driving histories, here are the cheapest companies Nerdwallet.com found in New Jersey, ranked by average price:
NJM: $2,136 per year.
Travelers: $2,890 per year.
Geico: $3,613 per year.
State Farm: $4,064 per year.
Progressive: $4,324 per year.
Glover said poor credit could have a more significant effect on car insurance premiums than even a DUI conviction or a recent at-fault crash, but prices vary by insurer. To calculate these figures, NerdWallet averaged rates for 40-year-olds with a clean driving record.
**Cheapest for drivers with poor credit**
Glover said NerdWallet averaged rates for 40-year-old men and women with a clean driving record and good credit.
For drivers with poor credit but clean driving histories, here are the cheapest companies we found in New Jersey, ranked by average price:
NJM: $2,136 per year.
Travelers: $2,890 per year.
Geico: $3,613 per year.
State Farm: $4,064 per year.
Progressive: $4,324 per year.
According to Glover, to calculate these figures, NerdWallet averaged rates for 40-year-olds with a clean driving record and associated good driver discount, if the insurer offered one. They had poor credit as reported to their insurer, and standard "full coverage car insurance.
**Cheapest for drivers with one at-fault crash**
According to Lacie Glover from nerdwallet.com, for drivers with a recent at-fault accident on their records, but good credit, these are the cheapest companies in New Jersey and their average rates:
NJM: $1,418 per year.
Travelers: $2,183 per year.
Geico: $2,230 per year.
State Farm: $3,135 per year.
Progressive: $4,403 per year.
Glover said nerdwallet.com averaged rates for 40-year-olds with typical "full coverage" insurance and one recent at-fault crash costing $10,000 in property damage. "Your rates will remain high for three to five years after you cause an accident or have a moving violation," according to Glover.
**Cheapest for low-mileage drivers**
Glover said New Jersey drivers who clock few annual miles, these are the cheapest auto insurance companies we found, alongside their average rates:
Travelers: $1,275 per year.
NJM: $1,320 per year.
Geico: $1,629 per year.
State Farm: $1,767 per year.
Esurance: $2,232 per year.
Whether you're retired, work at home, or often use public transportation, writer Lacie Glover said you might be able to get cheaper car insurance simply because you drive less. The rates above are for 40-year-olds with typical "full coverage" insurance and a clean driving record who drive 5,000 miles per year instead of the standard 12,000.
**Cheapest for minimum coverage in New Jersey**
According to Glover, for bare-bones auto insurance coverage in New Jersey, here are the cheapest companies, ranked by their average rate for this group.
NJM: $645 per year.
Travelers: $770 per year.
Geico: $772 per year.
Esurance: $1,189 per year.
Progressive: $1,508 per year.
If you're looking for the cheapest possible insurance you can get, though, you'll still want to get quotes from at least three auto insurers. Glover said such light coverage isn't typically recommended since it might not cover all the bills resulting from a car accident, but it's better than nothing. The rates are for 40-year-old good drivers, according to Lacie Glover.
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*Nerdwallet.com partners compensate them. This may influence which products they review and write about (and where those products appear on the site), but officials say it in no way affects their recommendations or advice, which are grounded in thousands of hours of research. "Our partners cannot pay us to guarantee favorable reviews of their products or services," nerdwallet.com officials said in the disclosure statement.
**INFORMATION CREDIT:** Nerdwallet.com, Writer Lacie Glover