Is Geico cheaper in New Jersey? This question is about GEICO

Is Geico cheaper in New Jersey?

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This question is about GEICO

Delaney Simchuk, Car Insurance Writer

@delaney_simchuk • 07/26/22 This answer was first published on 07/26/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, Geico is cheaper in New Jersey than most other major car insurance companies. In fact, state-minimum coverage from Geico costs about 185% less than the New Jersey average of $107 per month, and full coverage from Geico sells at a similar discount. Geico also offers a variety of discounts that can help New Jersey drivers save even more.

Cheapest Car Insurance in New Jersey by Company

Company	Annual Premium
Geico	$450 per year
Amica	$523 per year
State Farm	$958 per year
Travelers	$1,098 per year
Allstate	$879 per year

Note: Rates are an approximation based on a 45-year-old male with minimum coverage. Actual rates will vary.

To learn more, check out WalletHub’s full Geico review.

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How much is the cheapest car insurance in New Jersey?

The cheapest car insurance in New Jersey costs an average of $52 per month ($624 per year), which is significantly less expensive than the national average cost of car insurance. Some of the cheapest car insurance companies in New Jersey include Geico, NJM Insurance, and Amica.

Cheapest Car Insurance Companies in New Jersey

Company	Average Monthly Premium	Average Annual Premium
Geico	...	$624 per year

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What car insurance discounts are available in New Jersey?

You can get car insurance discounts in New Jersey based on how you drive, the car you own, and your relationship with your insurance company. In New Jersey, car insurance companies are allowed to consider factors like employment, residential, and marital status when setting premiums. That means there are also discounts available for being married, owning a home, or being affiliated with certain employers or educational institutions.

Almost anyone can get a discount on...

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Why is Geico so cheap?

Geico is so cheap because it sells insurance directly to consumers and offers a lot of discounts. Direct-to-consumer insurance sales eliminate the cost of middlemen and allow Geico to have significantly fewer local offices and agents than companies like State Farm and Allstate. Having a smaller agent network lowers Geico’s overhead costs, so they can pass those savings on to consumers.

Average Monthly Rates for Geico vs. Top Competitors

Company

Minimum Coverage

Full Coverage

... read full answer

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