Required Coverages For Car Insurance Nj
If reside in New Jersey, you are required to carry automobile insurance that satisfies the financial responsibility laws of the state
. Drivers who are caught driving without insurance could face serious punishments including the suspension of their driver license, suspension of their vehicle registration, heavy fines and jail time for multiple offenders. Car insurance NJ laws differ from those in other states. If you are relocating to the state, you may need to review your insurance before you register your vehicle in the state to avoid unnecessary fines. Review your existing policy, or obtain quotes from NJ car insurance carriers to satisfy the state laws and protect your privileges and financial future.Liability insurance is required in every state. While this insurance section is required in every state, the limits required by the state will differ depending on state laws. Liability consists of both Bodily Injury and Property Damage cover. Bodily Injury is designed to pay for injuries caused to a third party if the insured driver is deemed at fault for the accident. In the state of New Jersey, drivers must carry at least $15,000 per person and $30,000 per accident for Bodily Injury coverage.
Property Damage coverage is designed to pay for damage caused to a third party is property if you are deemed at fault for the accident. Car insurance NJ financial responsibility laws require drivers to carry no less than $5000 per accident. This limit will be the maximum the policy will pay regardless of how many vehicles are involved in the accident. It is important to receive quotes with varying limits to ensure that you are adequately protecting yourself. If you fail to carry limits that are adequate, you could be sued for the additional damage.
The state of New Jersey, unlike many, follows a Choice no-fault system. This means that drivers can choose to retain their right to sue for auto-related injuries by rejecting the no-fault system. If drivers want to be able to sue for injuries, they will need to bind a policy with the tort system in place.
Uninsured motorist coverage is also required in the state of New Jersey. Uninsured motorist is designed to protect you and your passengers against injuries that are caused by an individual with no insurance. While liability insurance is required, some choose not to obey the law. The minimum amount of UM coverage that can be purchased is $15,000 per person and $30,000 per accident.
Drivers in the state of New Jersey are also required to carry Personal Injury Protection, also known as PIP. This coverage will pay for injuries to the driver and passengers no matter who is at fault no less than $15,000. Be sure to review the car insurance NJ laws to ensure you are adequately satisfying the financial responsibility laws.
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