New Jersey Car Insurance (NJ)

Car Insurance Requirements in New Jersey

The State of New Jersey, a no-fault state, offers its driver two options in terms of car insurance: the Basic Policy and the Standard Policy. The basic policy is a low cost option for people who do not have a lot of assets to protect. It meets the state requirement for car insurance and provides a minimum of $5,000 in property damage liability coverage along with personal injury protection of $15,000 for an individual and up to $250,000 for permanent or significant injury as defined in the policy.

There is also the Standard Policy. This policy provides for $15,000 in bodily injury coverage per individual, and $30,000 of coverage for the entire accident. It also includes $5,000 in property damage and some level of personal injury coverage. There is also a clause that requires coverage for involvement of uninsured or underinsured drivers.

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Additional Car Insurance Coverage in New Jersey

To help round out your insurance policy, you may want to consider purchasing collision and comprehensive coverage. Collision coverage helps pay for damages to your car if you are at fault in an accident. Comprehensive insurance helps pay for damages to your car that is not accident-related, such as fire or storm damage, theft, or vandalism. If you decide to purchase these types of coverage, you should opt for the highest deductible payment you can comfortably afford, as this will help reduce your monthly premiums.

Most insurance companies will also offer coverage for the towing charges incurred while removing your car from an accident scene. If you are an auto club member, this type of insurance is probably unnecessary. You can also buy coverage for rental car costs for a vehicle to drive while yours is in the shop.

Keep in mind that medical and repair costs can add up quickly, and state-mandated minimum requirements may not be sufficient enough to cover your liability. It is recommended that you purchase the highest limits of coverage you can comfortably afford.

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