New Jersey Auto Insurance - Why So Expensive?
New Jersey auto insurance is compulsory for driving a vehicle in
New Jersey. Auto insurance law of New Jersey offers easy options
for insuring your vehicle. However, there is no single standard
cost or type of coverage under New Jersey auto insurance. You pay
a particular percentage depending on different determinants like
your age, your marital status, make of your vehicle, particular
place, driving habits, etc. You decide on specific quote after considering
and reviewing options of different insurance companies.
Why do I need auto insurance?
If you drive without New Jersey auto insurance, you face severe
penalties like suspension of your driving license, hefty fines,
suspension of vehicle registration, jail terms, etc. You also pay
for lost wages, pain, and other sufferings of people in case of
any accident.
Types of New Jersey auto insurance policies
New Jersey auto insurance offers two types of insurance policies:
Basic Policy - This low-cost policy is compulsory for all
drivers. Although benefits are few, you receive basic and minimum
protection at affordable rates. This policy is most suitable for
new and young drivers.
Standard Policy - You receive widespread protection covering
your assets but at higher rates than basic policy.
Coverage available under auto insurance
New Jersey auto insurance offers different coverage according to
your policy.
Property Damage Liability - When you cause any accident
and damage other s property, you receive $5,000 per accident coverage
under basic policy but receive higher coverage under standard policy.
Bodily Injury Liability - This covers injury claims of people
affected by your accident. Basic policy offers an optional overall
coverage of $10,000 per accident for all affected persons. Standard
policy offers coverage of $15,000 per person for each accident and
overall $30,000 for all persons in accident with higher limits.
Personal Injury Protection - This provides coverage for
physical injuries to you and others under your policy. Basic policy
offers coverage of $15,000 per accident per person with maximum
limit of $250,000 for permanent injuries or other specifically mentioned
injuries. Standard policy offers minimum coverage of $250,000 per
accident per person and up to $250,000 for any permanent injuries.
You can select specific coverage limits under standard policy.
Basic policy of New Jersey auto insurance does not offer any comprehensive,
collision, underinsured or uninsured motorist coverage. Standard
policy though provides optional comprehensive and collision coverage
and underinsured or uninsured motorist coverage.
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