Auto Insurance in New Jersey
Guide to NJ auto insurance Quotes and Company Rates
New Jersey Auto Insurance is governed by a number of complicated regulations and laws. As a result it boasts some of the most expensive insurance premiums in the nation. Please carry on reading to gain an understanding of how the laws and by laws work in the " Garden State ."
Auto Insurance in New Jersey - Drivers who are resident in this have a choice between what is known as a basic or standard policy. What is the difference between the two you may ask?
A basic insurance policy has lower coverage amounts and serves the driver who has very few assets or minimal family obligations. There are also optional extras that can be extended on to the basic policy: bodily injury liability ($10 000 minimum), property damage liability ($5 000 minimum) and personal injury protection ($15 000 minimum)
Auto Insurance in NJ: Company Rates Explained
The standard policy on the other hand has minimum liability coverage. These are:
An amount of $15 000 for each person injured in the event of an accident.
An amount of $30 000 total
An amount of $5 000 to safe guard against property damage.
Drivers also gain personal injury protection and have the option to include uninsured and underinsured motorist coverage, collision coverage and comprehensive coverage. Like most states, auto insurance in New Jersey is determined by monitoring the behavior of the resident state drivers. What companies do is add up the cost of covering all NJ drivers (including legal and other fees) and then divide this amount by the number of drivers. This is quite simple.
The cost of insurance in New Jersey though is not spread uniformly - instead you pay a designated percentage. This percentage is determined by a number of factors including the make of the vehicle, marital status, age the list goes on with companies weighing factors differently. Hence rate will vary from place to place. It is for this reason it is recommended and advised that you consider shopping around for a number of quotes before making a decision.