New Jersey auto insurance is compulsory for driving a vehicle in New Jersey. Auto insurance law of New Jersey offers easy options for insuring your vehicle. However, there is no single standard cost or type of coverage under New Jersey auto insurance. You pay a particular percentage depending on different determinants like your age, your marital status, make of your vehicle, particular place, driving habits, etc. You decide on specific quote after considering and reviewing options of different insurance companies. Why do I need auto insurance? If you drive without New Jersey auto insurance, you face severe penalties like suspension of your driving license, hefty fines, suspension of vehicle registration, jail terms, etc. You also pay for lost wages, pain, and other sufferings of people in case of any accident. Types of New Jersey auto insurance policies New Jersey auto insurance offers two types of insurance policies: Basic Policy - This low-cost policy is compulsory for all drivers. Although benefits are few, you receive basic and minimum protection at affordable rates. This policy is most suitable for new and young drivers. Standard Policy - You receive widespread protection covering your assets but at higher rates than basic policy. Coverage available under auto insurance New Jersey auto insurance offers different coverage according to your policy. Property Damage Liability - When you cause any accident and damage others property, you receive $5,000 per accident coverage under basic policy but receive higher coverage under standard policy. Bodily Injury Liability - This covers injury claims of people affected by your accident. Basic policy offers an optional overall coverage of $10,000 per accident for all affected persons. Standard policy offers coverage of $15,000 per person for each accident and overall $30,000 for all persons in accident with higher limits. Personal Injury Protection - This provides coverage for physical injuries to you and others under your policy. Basic policy offers coverage of $15,000 per accident per person with maximum limit of $250,000 for permanent injuries or other specifically mentioned injuries. Standard policy offers minimum coverage of $250,000 per accident per person and up to $250,000 for any permanent injuries. You can select specific coverage limits under standard policy. Basic policy of New Jersey auto insurance does not offer any comprehensive, collision, underinsured or uninsured motorist coverage. Standard policy though provides optional comprehensive and collision coverage and underinsured or uninsured motorist coverage. |
