A brief review of car insurance rates in New Jersey. In a survey conducted in 2016 on the cost of car insurance premiums among states, New Jersey comes in third to offer the most expensive “full coverage” car insurance within the country. An average driver in the United States spends roughly $912.00 for car insurance annually while New Jersey drivers spend $1,300 on theirs – NJ drivers pay nearly 50% more. Why is this so?
The trend among car insurance rates in New Jersey is opting for wider coverage options because of their increased need for protection. New Jersey is a highly urbanized state with an inflated population. There is a related increase in car and vehicular accidents simply because there are a lot of people who live there and own vehicles. New Jersey drivers require more protection because the chance for accidents and injuries is most likely to occur. Necessary provisions for injuries they may have caused to others or themselves must be made. So in effect, car insurance companies in NJ offer car owners a wider coverage for Personal Injury Protection or PIP. Since it provides you more coverage naturally it costs a whole lot more. Additionally, Personal Injury Protection (PIP) is a state required liability so it is mandatory to have it present in basic policy insurance.
The expensive car insurance rates in New Jersey have prompted a drastic mass protest from its residents against the car insurance companies in NJ. Though the state recognizes the people’s dissatisfaction with the costs, a decrease any time soon is not likely to happen. But this should in no way dissuade you from getting your car insurance rates in New Jersey from https://newjersey-insurance.net. Not everyone necessarily requires “full coverage”. In fact, none of the car insurance companies in NJ offer full coverage just insurance bundles that provide the widest possible array of coverage (from state-required coverage to the many other optional insurance).
Basic policy car insurance is the cheapest option but with limited coverage despite having a higher valued PIP. This is perfect for car owners who need protection but do not have much budget for it. It is also more cost effective for people with little to no familial responsibility. They won’t need to purchase additional optional insurance because they need only cover themselves. Standard policy insurance, though considerably pricier than basic policy insurance, comes at an affordable minimum cost value. Car insurance doesn’t have to be so expensive. You just have to study your available options and rule out coverage you can do without to be more cost effective.