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New Jersey Auto Insurance
The importance of auto insurance today can hardly be overemphasized. As the number of vehicles on the road shoot up, auto accidents are becoming more and more common. Accidents do not come with a warning, and can happen anytime and anywhere, leading to crippling losses to life and property. Auto insurance is a must which
minimizes the liability arising out of auto accidents. To own a vehicle and not get auto insurance is foolishness. Auto insurance is so easy these days that they are often bundled along with the vehicle itself when you purchase it.
Insurance Requirements of the state:
A minimum of $15,000 is required under the Bodily Liability Liability limit up to a total of $30,000 per injured person per accident. Similarly, the Property Damage Liability limit is set at a minimum of $5,000. All these figures are as per the state law in New Jersey.
This basic coverage is often termed as the 15-30-5 coverage.
The system of Choice No-fault is followed in New Jersey. It means that the drivers or victims have the right to reject the no-fault system options. In turn they can very well sue the person at fault (as per the Tort system) and ask him to pay for the losses incurred in the accident.
Coverage in New Jersey:
Bodily Injury Liability: $15,000|$30,000.
Personal Injury Protection: $15,000.
Property Damage Liability: $5,000.
Underinsured Motorist Bodily Injury Liability: $15,000|$30,000
Underinsured/Uninsured Motorist Property Damage Liability: $5,000.
The PIP in the insurance policy avails you the appropriate amount of money required for the medical expenses for you as well as your passengers. In New Jersey, the minimum PIP Limits are set at $15,000. As you can see, the state provides for significant cover, in a variety of situations for auto accidents and people should avail of these by buying auto insurance.
The annual average cost for New Jersey
car insurance is $1365 which is significantly higher than the national
annual average of $914. However, what most people don't know is that you can shop around for a good rate rather than just taking what is offered to you by the companies. You must look for multiple
auto insurance quotes to find what suits you best.
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