New Jersey is the 3rd Most Expensive State for Car Insurance – WalletHub Study
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.
Please find expert commentary below (feel free to use as needed). You can also embed this YouTube video summarizing the study on your website, as well as use or edit these raw video and audio files as you see fit.
