[BonzoHansen]

When you compare rates you must compare coverage as well. The state minimum limits of liability are 15,000 per incident/30,000 aggregate (total). That coverage is stupid low - it doesn’t cover almost any new car you can buy today. But it is a bunch cheaper to buy than say 100,000/300,000 limits of liability. If your insurance does not cover your liability they can come after your assets, and in your case possibly your family’s assets. So you need to consult with Mom & Dad on this as well.

I pay ~$2000 annual for 100/300 liability limits on 3 vehicles, with comp & collision on two, $1000 deductibles, through NJ Manufacturers. The Z costs me ~$300 annually for 100/300 liability limits and $20,000 agreed value, $0 deduct on the car via Hagerty.

liability = what you pay for damage you cause to others - not your own car/injuries