Who Has the Cheapest Car Insurance for Business Use in New Jersey?

When shopping for cheaper insurance for using your car for business, one of the many factors that aid in calculating auto insurance rates is where you call home in New Jersey. Areas with more people or higher crime rates like East Orange, Paterson, and Elizabeth tend to have higher auto insurance costs, whereas more rural areas have the enjoyment of a little cheaper coverage.

The illustration below illustrates the more expensive cities in New Jersey for business use to purchase a policy in.

Premium amounts are estimated as the specific geographic location can influence coverage rates substantially.

The vehicle model you are insuring is a large factor when shopping for the most economical auto insurance for business use. Vehicles with more horsepower, a lack of advanced safety features, or a high likelihood of having liability claims will cost more to insure than more modest models.

The next tables features car insurance costs for a selection of the most cost-effective automobiles to insure.

Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, homeowner, and multi-vehicle. Price estimates do not factor in specific zip code location which can increase or decrease price quotes significantly.

Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rate quotes do not factor in vehicle location which can decrease or increase prices noticeably.

Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Information does not factor in specific location which can affect price quotes substantially.

Deciding which companies have the most affordable car insurance rates for business use calls for a little more sweat in order to find the lowest price.

Each auto insurance company uses their own calculation for determining prices, so we’ll take a look at the most budget-friendly car insurance companies in New Jersey. We do need to point out that New Jersey car insurance rates are based on many factors that can increase the policy premium. Simply having another birthday, getting divorced, or having an accident can produce rate changes that can make some companies more affordable than others.

Best Insurance Companies for Business Use

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21st Century offers some of the best car insurance rates in New Jersey at around $1,100 each year. Travelers, New Jersey Manufacturers, Penn National, and Palisades also make the cut as some of the more affordable New Jersey car insurance companies.

As illustrated above, if you have coverage with Penn National and switched to Travelers, you might realize yearly savings of roughly $199. Customers with Palisades might save as much as $215 a year, and California Casualty policyholders might lower prices by up to $271 a year.

To see if you’re overpaying, click here to get a free quote or visit any of the low-priced companies below.

Understand that those policy prices are averaged for all ages of drivers and types of vehicles and are not factoring in a price increase for business use. So the insurer that fits your age and vehicle best may not even be shown in the list of companies shown earlier. That emphasizes why you need to get rate quotes using your own driver and vehicle profiles.

Get discounts on New Jersey auto insurance

Auto insurance companies that offer the cheapest auto insurance for business use in New Jersey could also offer discounts that can lower rates by 40% or more if you meet eligibility requirements. A few popular companies and their offered discounts are detailed below.

• State Farm offers discounts including defensive driving training, good driver, good student, passive restraint, Steer Clear safe driver discount, accident-free, and Drive Safe & Save.
• American Family has savings for mySafetyValet, Steer into Savings, good student, defensive driver, air bags, accident-free, and early bird.
• AAA has discounts for pay-in-full, anti-theft, education and occupation, multi-policy, and good driver.
• GEICO may have discounts that include five-year accident-free, membership and employees, daytime running lights, good student, and seat belt use.
• Mercury Insurance includes discounts for multi-policy, low natural disaster claims, good driver, location of vehicle, accident-free, and type of vehicle.
• Farmers Insurance offers premium reductions for electronic funds transfer, business and professional, youthful driver, mature driver, bundle discounts, good student, and homeowner.
• Progressive policyholders can earn discounts including online quote discount, online signing, good student, multi-vehicle, continuous coverage, homeowner, and multi-policy.

The illustration below visualizes the comparison of insurance costs with and without discounts. The premiums assume a female driver, no claims or violations, New Jersey state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with safe-driver, multiple vehicle, marriage, defensive driving course, accident-free, and vehicle safety discounts applied. When taking advantage of discounts, the average amount saved each year on car insurance for business use is 28% or $890.

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Ending up with the right auto insurance provider is hard considering how many companies sell insurance in New Jersey. The rank data shown below may help you analyze which auto insurers you want to consider comparing rates from. These rankings only include companies with a national presence, so companies with more of a regional focus are not included in the list.

Which car insurance company is best?

When shopping around for car insurance for using your car for business in New Jersey, probably the best companies to start with are Allstate, Progressive, Geico, and State Farm. The data below illustrates pricing and service ratings, as well as optional policy coverages you can buy with each company.