New Jersey: Dead First in Auto Insurance Rates

TRENTON (AP) -

New Jersey has the costliest auto insurance rates in the nation, costing an average of $1,220 in 2012, according to an annual industry report.

The National Association of Insurance Commissioners says New Jersey motorists paid an average of $1,220 in 2012. That’s about 49 percent more than the national average of $815.

State Banking and Insurance spokesman Marshall McKnight said that New Jersey was more prone to accidents than others state.

“We are one of the most densely populated states in the nation,” McKnight said. “So there are more cars and more accidents.”

McKnight also says New Jersey drivers tend to have more coverage than is legally required.

“Only New York and Michigan have a higher number,” he said.

The report found the District of Columbia was second at $1,155, followed by New York with $1,152. Idaho drivers paid the least for auto insurance: $535.