If you live in New Jersey, you need to be sure that you're carrying the right minimum coverage for your household and your needs. BuyCarInsurance.com is here to help! We have compiled this guide that lists everything you need to know so that you can easily get the car insurance plan that fits your personal needs - at the lowest rate.
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What is the Minimum Coverage in New Jersey?
In New Jersey, bare minimum coverage includes:
|Bodily Injury Liability||$15,000 per person up to $30,000 for the accident.|
|Property Damage Liability||$5,000 in property damage per accident.|
|Uninsured/Underinsured Bodily Injury||
$15,000 per person up to $30,000 per accident.
|Uninsured Motorist Property Damage||$5,000 minimum.|
|Personal Injury Protection||$15,000 per person.|
New Jersey requires personal injury protection, which most states don't. Any time you suffer injuries in a car accident, personal injury protection insurance takes care of the first $10,000 of your medical expenses and lost time at work, minus your deductible, regardless of who caused the accident. Personal injury protection insurance helps streamline the process of receiving coverage for your injuries and helps many people get medical care faster.
How Much Insurance Do I Need?
Each individual's insurance needs will vary. Many people, however, choose minimum insurance coverage in an effort to reduce their financial liability. Before choosing minimum coverage, make sure you understand your true needs. Ask these questions:
How much uninsured or underinsured motorist coverage do I need to ensure that I can repair my vehicle after an accident? Around 14% of drivers in New Jersey don't carry car insurance. That means that if you're involved in a car accident, you have a significant chance of being hit by a driver who doesn't carry car insurance--and that may mean that your vehicle doesn't get the repairs it needs. Consider the value of your vehicle and its replacement cost as well as the potential cost to repair--and how much you can afford to put into repairs.
Can I afford to bear the financial burden personally if I don't carry adequate insurance? Do you have the funds available that will allow you to pay for serious injuries, including ongoing medical care, or substantial property damage if your insurance doesn't pick up the check? This may include repairing or replacing your own vehicle if the accident is your fault and you carry only liability insurance.
Talk with your insurance agent about the coverage you really need for your vehicle. It's not just about cutting down your insurance costs. It's also about ensuring that you are adequately protected in the event of an accident.
What Types of Policies are Available?
There are several types of car insurance policies that can help ensure that your needs are met. These include:
Liability insurance- Liability insurance covers the other driver's bills in the event of an accident: repairs to their vehicle and medical expenses that exceed their personal injury protection insurance.
Collision insurance- Collision insurance covers your bills as well as the other driver's if you cause an accident. Collision insurance often helps repair your vehicle after an accident.
Comprehensive insurance- What if your vehicle faces damage that wasn't caused by an accident? Theft, weather emergencies, falling limbs, and other hazards can all cause significant damage to your vehicle. Comprehensive insurance coverage helps fill in those gaps and ensure that you can afford repairs.
Uninsured/underinsured motorist coverage- Typically, uninsured or underinsured motorist coverage covers your expenses if you suffer damages in a car accident with a driver who carries inadequate insurance or who does not carry insurance at all. Check your policy to see if it extends to cover underinsured drivers as well as those who fail to carry insurance at all.
Personal injury protection insurance- Personal injury protection insurance covers the first percentage of your medical expenses or lost time at work after an accident regardless of who caused the accident.
Penalties for Driving Without Insurance in New Jersey
If you are caught without insurance there are some harsh penalties to face in New Jersey. Here are the details:
First Offense- Pay a fine between $300-$1,000, do community service and one-year mandatory driver's license suspension.
- Second and Subsequent Offenses- Pay a fine up to $5,000, you will be required to do 30 days of community service, two-year mandatory license suspension, and up to14 days in the county jail.
Teen Drivers, Multiple Drivers, and More
Do you have multiple drivers in your household? Teenage drivers? If so, your insurance needs may change. Teen drivers typically have much higher insurance premiums than older drivers due to their higher accident risk. Every driver in your household should be listed on your insurance policy.
On the other hand, in a household with multiple drivers and multiple vehicles, you may receive a discount on your coverage by insuring all of your vehicles through the same company. Your discount may go up as the number of vehicles insured by your household continues to rise.
Get a Quote for Car Insurance in New Jersey
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