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leading NJ car insurance companies in New Jersey . Many times customers
get online quotes and are ultimately asked to pay a higher price
than that quoted. Customers need to be upfront with the initial
quote and even during the policy period or they may be notified
of rate increases due to incomplete driving history and similar
points or moving violation issues
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The NJ Car Insurance Basic Policy
The NJ Basic auto policy provides $5,000 worth of coverage for
damage you may cause to another's property when the accident is
your fault. It also provides $15,000 in medical coverage. Unless
you purchase additional liability coverage, it does not provide
any coverage if you injure someone in an accident that is your fault.
The Basic Policy should be considered by those with few family responsibilities
and few real assets. It can provide a transition for younger drivers
who are just beginning work, providing a basic, minimum protection
when they may be least able to afford more comprehensive coverage.
The Basic Policy may be purchased through any New Jersey licensed
insurance producer. If you do not have any bodily injury liability
coverage, you are responsible for paying for the pain, suffering
and other personal hardships and some economic damages, such as
lost wages, that you cause. The insurer will not provide or pay
for a lawyer to represent you if you are sued. Your assets will
be at risk, including the risk of having money deducted from your
wages if a judgment is entered against you. Additionally, the Basic
Policy provides Comprehensive and Collision coverage only as an
option at an additional cost. Basic Policy Questions Do you own
a home? Do you have dependents? Do you have significant assets?
If you answer "no" to at least two of these questions, you should
consider whether a Basic Policy is right for you Significant savings
(20% or greater savings) on the total cost of your Auto Insurance
Policy if you are purchasing insurance for the first time. If you
are currently insured, the savings will be dependent on the choices
you made on your current policy.
What you should know about driving uninsured in the State of
New Jersey!
Driving without auto insurance is against the law in the state of
New Jersey, and the penalties for driving uninsured are getting
more severe. Persons caught driving uninsured already face the mandatory
loss of driving privileges for a year. A second offense brings 14
days in jail.
New Jersey's auto insurance reforms have made impoundment of uninsured
vehicles swifter and more certain.
New Jersey offers many options for getting insured. If you
have few assets or none at all, the NJ Basic Car Insurance Policy,
which offers minimum limit liability, might be right for you. Or,
New Jersey's Special Automobile Insurance Policy (NJSAIP), which
provides emergency and catastrophic care, is available for eligible
federal Medicaid recipients.
Liability-Bodily Injury and Property Damage Liability
The amount of liability coverage you select will affect the price
you pay. The cost of liability coverage is affected by the amount
of coverage you choose and the risk you present to an insurer, due
to factors that include your driving record, your payment history,
and how your vehicle is used. There are two kinds of liability coverage:
Bodily Injury and Property Damage. Choosing lower limits will save
money. Before making your selection, consider: The value of your
home, if you are the owner. The value of other assets you need to
protect. Your current and future income. Your responsibilities to
care for other family members. If you do not own a home, have limited
income and few assets to protect, you may want to consider the Basic
Policy . With the Standard Policy, there are many factors to consider.
If you own a home that is worth less than $100,000 you may want
to consider liability limits of $100,000 or less. If you own a home
worth more than $100,000, have other assets, and the prospect of
higher future earnings, your insurance company or agent would likely
recommend liability coverage of at least $100,000.
Selecting Your Health Care Option known as NJPIP - NJ Personal
Injury Protection.
Do you have NJ Group Health insurance? If so, you may
be able to designate your health insurer as your primary source
of medical care should you be injured in an accident. This can yield
significant premium savings, but you must ask yourself some questions
before making this decision. Does your health insurer cover injuries
from an automobile accident? You can not select Medicare or Medicaid
as your primary health insurer for auto accidents. However, Medicare
or Medicaid may pay some costs not covered by the primary insurer.
If your health insurer provides coverage, what are the requirements
for deductibles, co-payments, and pre-certification? What is the
maximum amount your health insurer will pay if you are in an accident?
If you are satisfied that your health insurer would provide adequate
coverage if you are in an accident, compare the health benefits
to those provided through Personal Injury Protection, or PIP. PIP
pays if you or others covered under your policy are injured in an
automobile accident. It is sometimes called "no-fault" coverage
because it pays your own medical costs no matter who caused the
accident. PIP has two parts - (1) coverage for your medical bills
and (2) reimbursement for certain other expenses you may have because
you are hurt, such as lost wages and the need to hire someone to
take care of your home or family.
Most New Jersey drivers buy $250,000 worth of PIP, a higher
amount than drivers typically purchase in other states.
New Jersey requires drivers to have auto insurance, but some motorists
drive illegally without it. In addition, you may be involved in
an accident while traveling in another state, where less coverage
is required. A common misunderstanding is that uninsured motorist
coverage pays for the person who is driving illegally. This is not
true - this coverage pays you and others in your car if you are
involved in an accident in which the other driver is uninsured.
Similarly, underinsured motorist coverage protects you if there
is an accident and the other driver is legally insured, but has
less liability coverage than you do. If your damages are greater
than the limits of the other driver's policy, you can make a claim
for the balance to your insurer. Your claim cannot exceed the difference
between your liability limit and that of the other driver. If you
have a Standard Policy, a minimum amount of uninsured/underinsured
motorist coverage is required. You can purchase higher limits if
you want additional coverage. You may choose one of the following
higher limits of Uninsured/Underinsured Motorist Coverage, up to
your Bodily Injury Liability Insurance Limit. Choose the limit you
want when your are purchasing your policy. $35,000 $50,000 $100,000
$300,000 $500,000
Comprehensive and Collision Coverage otherwise know as
Full Coverage.
Besides liability and medical coverage, the other major area
of coverage pays for damage to your vehicle. Collision coverage
pays for damage caused by an accident. Comprehensive coverage pays
for damage caused by something other than an accident, such as a
window damaged during a break-in or a tree limb landing on your
car. Often called "comp-and-collision," this coverage is not required
by law, but is required by your finance company or bank if you are
still making payments on your car. You can save money by dropping
comp-and-collision coverage. Some insurers, however, will place
you into a less favorable "tier" if you only buy liability coverage.
If you have other negative factors, such as tickets or accidents,
investigate all pricing options with your direct writer or agent
before making a decision. If you are buying a new or used car, it
is important to ask your insurer how your comp-and-collision rates
will change. Different models have different rates, depending on
repair costs, theft rates, and other factors.
*WARNING: Insurance companies or their producers or representatives
shall not be held liable for your choice of lawsuit option (Limited
Right to Sue or Unlimited Right to Sue) or for your choices regarding
amounts and types of coverage. You cannot sue an insurance company
or its producers or representatives if the Limited Right to Sue
option is imposed by law because no choice was made on the coverage
selection form. Insurers and their producers or representatives
can lose this limitation on liability for failing to act in accordance
with the law. See N.J.S.A. 17:28-1.9 for more information.
NJ Car insurance rates vary between auto insurance companies in
NJ.
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