Auto Insurance Companies in New Jersey
Find Cheap Auto Insurance Quotes in New Jersey
Geico is the largest car insurance company in New Jersey. It sells a quarter of all auto policies in the state.
In New Jersey, the 10 largest companies sell more than 93% of all auto insurance plans. If you're shopping for car insurance, you should take a closer look at these companies to help you find the right policy for your needs.
Largest car insurance companies in New Jersey
Company | Annual business | Market share |
|---|---|---|
| Geico | $2 billion | 24% |
| Progressive | $1.2 billion | 14% |
| New Jersey Manufacturers (NJM) | $1.1 billion | 12% |
| Allstate | $0.9 billion | 11% |
| State Farm | $0.7 billion | 9% |
1. Geico
- AM Best rating: A++
- Market share: 24%
Geico is far and away the largest auto insurance company in New Jersey. It sells roughly one-quarter of all car insurance policies in the Garden State. Geico's popularity may be fueled in part by its low prices.
On average, Geico has the cheapest car insurance in New Jersey. A liability-only policy from Geico costs roughly half the New Jersey state average.
While Geico is known for its useful website and app, it also maintains a strong network of local agents in New Jersey. Geico gets significantly fewer customer complaints compared to an average car insurance company its size, according to the National Association of Insurance Commissioners (NAIC), an industry group. However, it scored below average on J.D. Power's recent auto claims satisfaction survey and overall customer satisfaction survey.
2. Progressive
- AM Best rating: A+
- Market share: 14%
Progressive sells 14% of all auto insurance policies in New Jersey.
Since its return to the New Jersey auto insurance market in 2005, Progressive has steadily grown to become the second-largest car insurance company in the state. Progressive lets you buy car insurance online or over the phone. You can also get in touch with a local agent if you prefer a human touch.
Progressive has cheap rates and a low number of customer complaints. It also has some of the best rates in the state for people who've had a DUI. The downsides to Progressive include mediocre customer service and expensive rates for young drivers.
3. New Jersey Manufacturers (NJM)
- AM Best rating: A+
- Market share: 12%
New Jersey Manufacturers (NJM) is a regional insurance company that sells policies in several states on the East Coast and in the Midwest. NJM is the third most popular auto insurance company in New Jersey, selling 12% of all auto policies in the state. NJM stands out for its below-average full coverage rates and its very low levels of complaints.
In addition, NJM offers its customers a variety of benefits such as free roadside service. Because NJM is a mutual company, customers can earn profits in the form of a dividend.
4. Allstate
- AM Best rating: A
- Market share: 11%
Allstate has a strong network of local agents in New Jersey. While Allstate lets you create a quote online, you'll have to contact an agent to buy your policy. Allstate's reliance on the agent model may appeal to people who want a human touch. However, if you prefer online or app-based services, you may be better off with Geico or Progressive.
Allstate auto insurance rates tend to cost more than the New Jersey state average. However, Allstate offers an array of discounts like its Safe Driving Bonus, which can make your monthly rate more affordable.
5. State Farm
- AM Best rating: A++
- Market share: 9%
State Farm has a strong network of agents that operate across New Jersey. This makes it a good choice for people who prefer to work with an agent. As a State Farm customer, you can call or visit your agent for in-person help.
State Farm ranked second for overall customer satisfaction in a recent J.D. Power survey.
State Farm has rates that come in slightly below the New Jersey state average. In addition, it also offers 14 discounts for New Jersey drivers, which range from age-based discounts to vehicle-safety discounts. A large portion of State Farm's customers will likely qualify for at least a few discounts. It's important to remember that State Farm has high base prices, meaning that your final cost may be relatively expensive even with one or more discounts.
6. Plymouth Rock
- AM Best rating: A-
- Market share: 7%
Plymouth Rock is a regional insurance company that operates in a handful of Northeastern states. It sells roughly 7% of all auto insurance policies in New Jersey. Although it offers a broad range of coverage, its auto insurance plans are among the most expensive in the state.
Plymouth Rock gets significantly fewer complaints compared to an average insurance company of a similar size. If customer satisfaction is a high priority for you, Plymouth Rock may be a good choice.
7. Liberty Mutual
- AM Best rating: A
- Market share: 6%
Liberty Mutual is a long-established presence in the New Jersey insurance market with a history that stretches back over 100 years. It works with a network of independent agents throughout the state, and you can also get a Liberty Mutual policy online or over the phone.
You shouldn't consider Liberty Mutual if customer service tops your list of must-haves.
Liberty Mutual gets more complaints than most of the largest companies in the state. In addition, it ranked near the bottom of a recent J.D. Power auto insurance customer satisfaction survey. Liberty Mutual auto insurance prices tend to be more expensive than average, although you may find it a more affordable option if you qualify for a bundling discount.
8. USAA
- AM Best rating: A++
- Market share: 4%
USAA is an insurance company that only sells to active-duty service members, veterans and their spouses and family members. USAA has built up a reputation over the years for cheaper-than-average prices and high levels of customer satisfaction. In the most recent J.D. Power customer satisfaction survey, USAA got the highest score for the mid-Atlantic region, which includes New Jersey.
One of the best things about USAA is that it aligns its benefits with the needs of military members. For instance, USAA offers a discount for stationing a vehicle inside a military base.
9. Travelers
- AM Best rating: A+
- Market share: 4%
Travelers stands out for its very low levels of customer complaints. It gets almost 70% fewer complaints compared to an average auto insurance company of a similar size. Travelers has more than 1,200 agents in New Jersey, making it a good choice for those who value a personal touch when shopping for car insurance.
Travelers doesn't have the cheapest auto insurance rates in New Jersey. However, the company's many discounts can help make your quote more affordable.
10. Farmers
- AM Best rating: A-
- Market share: 3%
Farmers has a long roster of agents in New Jersey's largest cities, including Edison and Newark. Customers in the state have access to several discounts, including discounts for students, veterans, certain professions, safe drivers and customers who have a history of no missed payments.
Farmers has a strong network of agents in New Jersey. However, its policies typically cost more than the state average, and it gets more complaints than many of the other companies on this list.
Frequently asked questions
What are the largest auto insurance companies in New Jersey?
The largest auto insurance companies in New Jersey include Geico, Progressive, New Jersey Manufacturers (NJM), Allstate, State Farm, Plymouth Rock, Liberty Mutual, USAA, Travelers and Farmers. These 10 companies sell 93% of all car insurance policies in New Jersey.
What's the cheapest car insurance in New Jersey?
Geico has the cheapest car insurance in New Jersey, with an average price of just $49 per month for a liability-only policy. That's roughly half the state average.
What is the best auto insurance company in NJ?
Geico is the best car insurance company in New Jersey. It offers competitive rates, a range of discounts and a user-friendly app. However, it's important to shop around and get a range of quotes before you buy a policy.
Methodology and sources
Information about auto insurance company financial stability comes from AM Best. Customer complaint information is from the National Association of Insurance Commissioners (NAIC). Other customer satisfaction rankings are from J.D. Power.
Price data was compiled using Quadrant Information Services. Rate information is from publicly available filings. Rates are for comparative purposes only. Your quotes will likely differ.
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