Auto Insurance

[Diane Giam]

Originally Posted by tahiti

Noticed a disgruntled NJ resident below mention auto insurance as "way out of line". Is that the feeling of the majority of the posters here?

Yes, yes, we all know that NJ has the highest rates in the country. I must've lucked out (BIG PROPS for NJM), but our insurance is very reasonable. 3 cars: 1 compact 1998, 1 sedan 1998, 1 small SUV 2006. Standard deductable on all ($500 collision and comprehensive). Average is less than $600 a vehicle per year. We live in suburbia, have clean records, but, maybe this is biggie - no teen drivers.

What's your take on it? Also, has anyone had success with Geico or the other low cost carriers entering the state?

I have a Teen Driver, My 18 year old Daughter Cars are 2007 Toyota Rav4, 2002 Toyota Rav4, 2007 Toyota Yaris $250 collision and comp, All 3 cars-$1400 a yr.
I pay $3000 a yr in NJ for my 23 year old sons car a 2005 Hyandi Elantra.$500 deductables
All clean records
Diane

[JerZ]

We had Mercury back east and also have them here. The rates are almost identical. I don't know if we just got lucky or if it's actually the norm...not sure. Anyway, that's on a 2001 Saturn 2-door...plus my car, but I'm not sure how to compare that as I had a different car back east than the one I have here. The Saturn, though, is just about the same rate. $650-ish per car (Saturn and Chevy Venture).

NJ I believe does have the highest rates in the nation but there are other states that are playing catch-up. NJ auto insurance is way up there but then again so are NJ incomes...Number Four, I think, out of 50 states according to the most recent Census Bureau stats. That doesn't make it right, but it is something to consider when someone from another part of the country gasps at the high rates. They're thinking of the cost in comparison to the income *where they are*.

Doesn't mean you have to like it, though...I'm never thrilled to pay more money for anything...but it's something to consider.

[JerZ]

Originally Posted by Diane Giam

I pay $3000 a yr in NJ for my 23 year old sons car a 2005 Hyandi Elantra.$500 deductables
All clean records
Diane

Well then you didn't do your homework, I'm sad to say. My son is only 21 years old and he sure as heck doesn't pay $3000. Please! (He lives in northern NJ.) That's okay, though...you've balanced this NJ exaggeration with one on the opposite spectrum for TN. According to this site, the average for your state is $775, and here you're going on about $200-and-something yearly rates, including one for a teenager, as if they're the norm. (As an aside: This is interesting...in NJ we payed well under the national average also quoted on that site. I guess it takes into account trucks, etc. that would obviously be on the much higher end of the spectrum, but it just goes to show ya...gotta do your homework.)

p.s.: Tahiti, you also said Geico is in NJ now? Drat it. I was always hoping to get in on Geico. OTOH, I can tell you that here at least, we compared Geico rates and they were higher than Mercury. Again, I should add that we'd been with Mercury for a good while so maybe that had something to do with it...? I don't know. But anyway...sure, check them out...anywhere one can save money is good, right? We compared quite a few different carriers before deciding to stick with Mercury, actually.

[Diane Giam]

Originally Posted by JerZ

Well then you didn't do your homework, I'm sad to say. My son is only 21 years old and he sure as heck doesn't pay $3000. Please! (He lives in northern NJ.) That's okay, though...you've balanced this NJ exaggeration with one on the opposite spectrum for TN. According to this site, the average for your state is $775, and here you're going on about $200-and-something yearly rates, including one for a teenager, as if they're the norm. (As an aside: This is interesting...in NJ we payed well under the national average also quoted on that site. I guess it takes into account trucks, etc. that would obviously be on the much higher end of the spectrum, but it just goes to show ya...gotta do your homework.)

p.s.: Tahiti, you also said Geico is in NJ now? Drat it. I was always hoping to get in on Geico. OTOH, I can tell you that here at least, we compared Geico rates and they were higher than Mercury. Again, I should add that we'd been with Mercury for a good while so maybe that had something to do with it...? I don't know. But anyway...sure, check them out...anywhere one can save money is good, right? We compared quite a few different carriers before deciding to stick with Mercury, actually.

I use State Farm in Both States. I've had insurance with them for years and their rates are not the most expensive and I want a company that will pay claims fast. IN NY I had Geico which wasn't avaliable in NJ then, but is now.
Diane

[JerZ]

Originally Posted by Diane Giam

I use State Farm in Both States. I've had insurance with them for years and their rates are not the most expensive and I want a company that will pay claims fast. IN NY I had Geico which wasn't avaliable in NJ then, but is now.
Diane

State Farm IS expensive, at least out here. Perhaps it's different in NJ, but we bought a car from our in-laws when we first moved out here and the very first thing we did was switch from State Farm and our policy was hundreds of dollars less. I can't say it's always hundreds of dollars more/less for any given vehicle but it was for ours, this being based on insuring both vehicles. This again is your choice, you are electing not to shop around and find something less than $3000 and that's your own personal decision, and not something New Jersey did to you.

Mercury certainly pays fast, or they did as far as I remember--we haven't had to put in a claim in years as we haven't had accidents. You said your son hasn't had accidents either--you said your children all have clean records--so I'm not sure what you're basing the fast-payment claim on. In order to determine that, your children would have to have put in claims, right? Are you sure they have clean records? If they've had accidents, then that could be part of the reason for the high rates (and again, not NJ's fault).

[K2G]

Try 21st Century. They are the best at the moment and beat all the companies. Excellent customer service. My saving was at least $400 a year. More than 10 of my friends switched recently to 21st and saved lot of money.

[brookdaleresident]

I have NJM and cost isn't bad. Never put in a claim and no teen drivers. When comparing to other companies, make sure you're getting the exact same coverage, including threshhold. There's a difference in premium (higher) with no threshhold.