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New Jersey Auto Insurance Rate Comparison

Discussion in 'Model S: Ordering, Production, Delivery' started by yobigd20, Feb 22, 2013.

  1. yobigd20

    yobigd20 Well-Known Member

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    I have separated this out into a different thread rather than putting this in the insurance thread to highlight the important of this to New Jersey owners. I found this web page on the State of New Jersey web site that actually does a damn good comparison of all the auto insurers in NJ.

    First, go here http://www.state.nj.us/dobi/division_consumers/insurance/autopremiumexamples.htm and find the example that 'best matches you'. (note the difference between the 'A's and 'B's for each type too...for be '2-A' best represents me as my wife and I are in our 30s and have the 'Limited Right to Sue' option [gotta love NJ], & clean records.) ,

    Then, on this page http://www.state.nj.us/dobi/division_consumers/insurance/autopremiumcomparison.htm under the 'Select Premium Comparison Chart by Zip Code' dropdown select your zip.

    This brings up a page like so (the tables below are specific to my zip code) so you can do a comparison between them all for your own zip codes:

    insurance01.png insurance02.png

    While every person's situation is different .. ages, credit history, driver history, etc etc. this page at least does a very good job at giving you an indication of where you should start looking at first to get the best auto insurance quote. I've had Geico and Progressive Garden State in NJ, and I've also received quotes from State Farm. For me, last time I did this, Progressive was the cheapest, then State Farm, and GEICO was utterly ridiculous. This matches that chart for my category. When I asked Geico about why their rate was so much higher in NJ than other insurers, their answer to me was something like 'based on our statistics of NJ drivers, NJ has some of the worst drivers and highest crash rates/claims etc etc'. So I guess because NJ is one of the lovely 'no-fault' insurers (where regardless of whose fault an accident was, it's your own insurance that pays for damages to your car, not the other guys...and also restricts you from seeking any recovery payments from the other person), we're stuck with paying the higher insurance rates rather than crappy drivers paying higher rates and good drivers paying cheaper ones for the same coverage. Anywho, while NJ sucks in more ways that Bill gates has dollar bills, at least this web site from them helps in the hunt for cheaper insurance. (and NJ has no sales tax for EVs so another minor +1 to NJ for some sort of positive note). I am going to look into applying to USAA to see what their rates are ;)
     
  2. John Vig

    John Vig Member

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    #2 John Vig, Sep 29, 2014
    Last edited: Sep 29, 2014
    My Tesla (85) replaced a Lexus LS. The two cars are comparable in price. While talking to an agent at my insurance company, USAA, I asked her the rate comparison (for my situation, living in central NJ) between a new Tesla and a new 2014 Lexus LS 460. The Tesla is $80- cheaper per year.
     
  3. LucM

    LucM Member

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    My brand new Tesla is roughly the same as my Jeep Wrangler Unlimited (4 door) despite it costing almost 3x as much. I asked the agent about this and she said it was due to better occupant safety.


     
  4. Rothgar

    Rothgar New Member

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    I had USAA for years...of course, you need to be military or affiliated in some fashion. They beat the rates of everyone on the planet until one day one of my Flight Mechs told me he saved by switching to Geico from USAA. I checked, and yep, switching saved me $450/year. But this was their military division, and I've been with Geico for the last 10 years. They've been awesome. Had two hail claims, and they really took care of it (not my Tesla, thank goodness). Been to Progressive's site once for a comparison...they were FAR more expensive than Geico (and I had to call...their comparison program only seems to work if their rates are lower). Anyhow, Geico's military side is a lot less money, but you have to have some military background, so not sure if this helps.
     
  5. breser

    breser AutoPilot Nostradamus

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    I had Progressive for 15 years until I got my Tesla last week. Dropped them as they were 4 times what I'm paying now, or roughly $4800/year more expensive (no kidding). I have the impression that Progressive used to be good and have jacked their rates up.
     
  6. yobigd20

    yobigd20 Well-Known Member

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    I just got my renewal from progressive and it didn't go up but a few single dollars. You must have something on your record to get quoted that high.
     
  7. breser

    breser AutoPilot Nostradamus

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    My rates only moved around slightly when I had them. Usually going down. It was just the quote for the Model S that was terribly expensive. So I shopped around and that lowered my rates slightly compared to what I had before and hugely compared to what Progressive would have charged me. Last time I had an accident was in 2007 which wasn't my fault, rear ended on the Interstate. No tickets since quite a bit before that. So if they're holding something against me they're holding something that's probably 10-12 years old.
     
  8. CHG-ON

    CHG-ON Still in love after all these miles

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    I was surprised to see my rate in CA only go from 1200 for an 8 YO Acura (with virtually no commute) to only 1700 for my P85+ with my new commute of 104mi/day. I thought I would be well over 2500. Boy am I glad I don't live back east. I thought CA was expensive!
     
  9. yobigd20

    yobigd20 Well-Known Member

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    FWIW my rate went down compared to my previous car with progressive. I had a $56k Range Rover Evoque Dynamic fully loaded and that was about $150 more per year than a $103k P85. Go figure. Insurance isn't based upon the price of a vehicle....
     
  10. jaguar36

    jaguar36 Member

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    Minor? Thats worth like $7,000!

    Also keep in mind that its not just the yearly cost, some insurance companies are much worse to deal with and can end up costing you more if you have a ticket or an accident.

    I've had NJM for years, and while becoming their customer was irritating and a pain, whenever I've had a claim they've always been great, and they don't raise your rates for accidents or tickets. (although they will drop you if you have to many)
     

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