Auto Insurance NJ

Understanding the Importance of Auto Insurance in New Jersey

Having auto insurance in New Jersey isn't just a legal requirement; it's an essential safety net that provides financial protection for you and your vehicle. In 2019, New Jersey reported approximately 278,413 motor vehicle accidents, emphasizing the need for reliable auto insurance coverage.

<h2>New Jersey Auto Insurance: More Than Just a Legal Requirement</h2>

New Jersey Auto Insurance: More Than Just a Legal Requirement

In New Jersey, it's a legal requirement to have auto insurance. The state mandates a minimum liability coverage of $15,000 per person, $30,000 per accident for bodily injury, and $5,000 for property damage. However, these minimums often fall short in covering the full extent of damages in an accident. Therefore, having comprehensive auto insurance coverage in New Jersey can help you avoid incurring out-of-pocket expenses.

<h2>Financial Protection</h2>

Financial Protection

Auto insurance offers financial protection in case of accidents, theft, or damage to your vehicle. In 2018, the average auto liability claim for property damage was $3,841, and for bodily injury, it was $15,785. Without insurance, these costs can create a significant financial burden. Therefore, having auto insurance in New Jersey is a wise investment.

<h2>The Impact of Uninsured Drivers in New Jersey</h2>

The Impact of Uninsured Drivers in New Jersey

According to the Insurance Research Council, roughly 14.9% of New Jersey drivers were uninsured in 2015. This rate poses a risk to all road users. If an uninsured driver is at fault in an accident, the victims may have to bear the financial burden. Therefore, having auto insurance with uninsured motorist coverage is crucial in New Jersey.

What is the minimum auto insurance coverage required in New Jersey?

New Jersey requires a minimum liability coverage of $15,000 per person, $30,000 per accident for bodily injury, and $5,000 for property damage.

How can I reduce my auto insurance premium in New Jersey?

You can reduce your auto insurance premium in New Jersey by maintaining a clean driving record, choosing a higher deductible, and availing of various discounts offered by insurance companies.

What is uninsured motorist coverage?

Uninsured motorist coverage protects you if you're involved in an accident with an uninsured driver. It covers the cost of damages and injuries that the uninsured driver is unable to pay.