New Jersey Rules and Regulations on Car Insurance

New Jersey is a heavy populated state and that means more drivers which usually means more accidents. To protect yourself and your assets against any major losses it is well to get the right coverage suitable for you. New Jersey rules and regulations on car insurance has a minimum requirement that is mandated by state law to be placed car insurance policies. Get informed of what is expected of you if you are driving in this state or have just moved to New Jersey.

Minimum Liability Coverage is 15/30/5 which is translated into 3 different coverages. This will cover medical expenses, work wages for victim, and sometimes funeral costs. This will not cover damage to your vehicle.

$15,000 for bodily injury/death for one victim

$30,000 for bodily injury/death for more than one victim/accident

$5,000 for Property Damage (cover damage to other person?s vehicle, not your own, and any physical damage to objects such as homes, businesses, garage doors, etc?.)

$15,000 PIP or Personal Injury Protection (this will cover you even if you are at fault for work wages incurred for loss of job in injury, medical expenses, doctor?s bills)
The above is your requirement by New Jersey?s rules and regulations on car insurance. However, there is a basic policy that this state offers it?s motorists if you are financially unstable, and do not have any assets, or are just beginning a new job. This basic policy does not require bodily injury liability, but you can get it for $10,000 of insurance. Property damage for basic policy is $5,000 and PIP or personal injury protection is still set at $15,000.

This should cover the basics. If you wish to purchase additional insurance, of course it is always available and always recommended. There is collision coverage for damage done to your vehicle, and comprehensive auto insurance for loss due to storms, or fires, or theft of your automobile. MedPay will increase the amount of medical costs that will be covered. Speak with your agent to insure that you are fully insured at all times and in compliance with New Jersey?s rules and regulations on car insurance.

What is positive about insurance in New Jersey is that it is a No-fault state. This means, regardless of whose to blame in an accident both parties are covered at no lawsuits can be claimed, except for special circumstances. Being insured is the best way to avoid all misphaps that can occur while on the road. Drive Safely!

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Source: http://www.autoinsurancequotes.net/resources/new-jersey-rules-and-regulations/

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