Young drivers with a “B” average or higher are entitled to discounts. Based on usage, some insurance companies offer discounts for. Although car insurance premiums for young drivers are often expensive, there are ways to save money. In New Jersey, drivers with just two speeding tickets pay an average of 45% more on their annual car insurance premiums, for example.
For more information, check out WalletHub's picks for the best car insurance companies in New Jersey, as well as the best car insurance for teens and young drivers nationwide. In general, insurance for young drivers is often expensive, since they haven't had time to prove that they are safe drivers, so it's important to choose the right insurance. While teen drivers pay the highest rates, the cost of car insurance generally begins to decline around age 25. Geico, State Farm, Nationwide and The General are good places to shop if you need car insurance for people who don't drive. The 10 biggest insurance companies offer a good student discount, and the requirements are generally the same among insurers.
The auto insurance premium for young adults or teens is determined based on a variety of factors, including your coverages, the deductible, the state in which you live, the value of the car, the discounts available, and many other considerations. Because of the high cost of car insurance for young drivers, it's often cheaper for parents to add a teen driver to their current policy, rather than buying a separate policy for the teen. Driver discounts are available for New Jersey residents who have a lower insurance risk, such as those with a clean driving record. However, whether they have a learner's permit or a probationary driver's license, it's recommended that you contact your insurance company to inform them about your new teen driver.
Penalties for driving without insurance in New Jersey include fines, driver's license suspension and community service.