Chances are, you are spending hundreds if not thousands of dollars more than you should to protect your vehicle in New Jersey. Countless companies promise to offer the best rates, making it difficult to know if you are truly getting a good deal. Maybe you have been with a company for a long time and haven’t thought about potential savings you may be missing out on. Not only that, but auto insurance premiums vary by hundreds of dollars from company to company because of the discounts offered and the way each particular car insurance company weighs your risk factors.
This makes choosing the right coverage and provider all the more crucial to save money without sacrificing important aspects of coverage. To save up to 70% on your auto insurance, simply enter your zip code above and get free quotes from one or more of the carriers that provides the cheapest rates in New Jersey.
New Jersey Car Insurance Requirements
New Jersey has a system in which you can choose to either use the No-Fault system or the Tort system. The difference is with the No-Fault system each person’s car insurance company pays for the injuries and damages sustained in the accident. The Tort system allows you to sue a person for these same expenses.
New Jersey car insurance requirements also stipulate that you must have Personal Injury Protection. This pays for the medical expenses arising from your incident regardless of who is at fault. You must have a minimum of $15,000 of coverage.
Another requirement is uninsured/underinsured motorist coverage. This makes sure that your costs are covered in case the other party either does not have insurance, or does not have enough insurance to pay for the total damages that are the results of a said accident. The requirement for your New Jersey car insurance coverage is $15,000 per person, and $30,000 per incident.
If you live in New Jersey, the penalties for not carrying car insurance far outweighs the money you think you are saving by not purchasing at least a basic policy. You will not only have to pay the fines, but you will have to purchase the insurance after you get done satisfying the courts. It does not matter if you have a perfect driving record or if you are a high-risk driver, you can still find lower rates because car insurance prices are not flat across the board and there are significant discrepancies in prices that can save you tremendous amount of money.