As you look through the information on New Jersey insurance quotes, you'll notice a common theme running through each: It's darn expensive to live in the Garden State. You probably knew this already, but no matter how bitter a pill the extra cost of New Jersey insurance is to swallow, insuring your most valuable possessions is not optional but mandatory. Here is the most critical information for common types of New Jersey insurance quotes. Take a look, or just head straight for our simple, online form that will get you matched to local insurance companies in minutes.
New Jersey Insurance Quotes: Common Types and Cost
- New Jersey Car Insurance: Of all the types of insurance, New Jersey car insurance is the one that's most likely to make you mad. Although New Jersey has one of the lowest requirements for car insurance ($15,000/$30,000 for bodily injury liability/$5,000 for property damage liability), it consistently ranks in the top 5 states for the most expensive premiums. According to a December 2009 report from the National Association of Insurance Commissioners, the average annual car insurance premium was $1,104 in New Jersey. There are several reasons for this incongruity, but the fact that New Jersey drivers also rank among the worst in the nation, while driving cars above the national average in value, is surely a contributing factor.
- New Jersey Homeowners Insurance: New Jersey homeowners insurance is seemingly comparable to the rest of the country in cost: In 2006, the last year for which reliable information is available, average annual premiums cost $726 in the Garden State and $804 nationwide. Yet, similar figures hide two very different dynamics that apply to New Jersey homeowners insurance. New Jersey actually sees relatively few home perils and natural disasters that would lead to otherwise lower premium costs, except for the fact that median home prices are almost double the national average in the Garden State. Naturally, insurance providers require higher premiums to insure homes of greater value.
- New Jersey Healthcare Insurance: The average cost of New Jersey healthcare insurance is somewhat more expensive than the national average ($4,798 vs. $4,386) and parallels the slightly higher cost of actual healthcare expenditures in the Garden State ($5,807 vs. $5,283). To a large extent, these higher figures can be explained away as a function of a higher cost living across the board. Indeed, New Jersey has among the best rates in the country for employer premiums as a percentage of household income. In other words, less of your compensation is eaten up by health insurance premiums, allowing for higher base salaries. Meanwhile, relatively high rates for manufacturing and public sector jobs translate into fewer individuals who have to seek private health insurance.
Choosing New Jersey Insurance Quotes
The first step for choosing New Jersey insurance quotes is finding reliable New Jersey insurance companies. This is where NetQuote comes in. Fill out a simple online form and we'll find the local insurance companies that best fit your profile and needs for auto, health, home, business, or life insurance. Sure, you could find these companies on your own, but there are hundreds of New Jersey companies to sift through. Besides, by letting us conduct the online search for you, you can avoid the hyper-stressful, high-pressure sales tactics that sometimes come from cold-calling insurance agents.
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