Looking for affordable New Jersey car insurance but don't want to waste a lot of time shopping for quotes? Here's a brief explanation of insurance coverages, how to save money on them, and how to get affordable insurance quickly and easily.
Minimum New Jersey Car Insurance
New Jersey requires you to have three types of car insurance coverage: liability , personal injury protection, and uninsured/underinsured motorist coverage. Comprehensive and collision coverage are not required.
Liability Coverage
Liability coverage pays for the other party's bodily injury and property damage expenses when you cause an accident. It also covers your legal bills if you're sued.
If you don't have a lot of assets and you don't drive a lot, you may want to stick with the minimum liability coverage which is: $15,000 bodily injury liability coverage for one person, $30,000 bodily injury coverage for all injuries, and $5,000 property damage liability coverage. However, if you do have a lot of assets you'll want to get enough liability insurance to cover them in case you're sued.
Personal Injury Protection
Personal injury protection coverage pays for you and your passengers' medical bills if you have an accident in your car, someone else's car, or if you're walking. If you already have medical insurance then you only need to get the minimum amount of coverage.
Uninsured/Underinsured Motorist Coverage
Uninsured/underinsured motorist coverage pays for your medical bills if you're injured by an uninsured driver, an underinsured driver, or a hit-and-run driver.
Comprehensive and Collision Coverage
Comprehensive coverage pays for damage to your car caused by theft, natural disasters, fire, or vandalism. You can save money on this coverage by raising your deductible (the amount you're required to pay on a claim before your insurance kicks in).
Collision coverage pays for repairs to your car if you cause an accident. You can save money on this coverage by raising your deductible. Raising it from $200 to $500 will save you up to 30% on your premium.
Compare Rates the Easy Way
The only way to know if you're getting the best insurance rate for your situation is to compare rates from different companies, and the easiest way to do that is to go to an insurance comparison website. It only takes a few minutes, it's easy, and it's free.
By: Brian Stevens