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If you're like most drivers, you probably have a lot of questions when it comes to car insurance. What's the difference between liability and comprehensive coverage? What amount of coverage should I get? Our New Jersey personal injury team answers all those questions and more. We'll also give you a detailed breakdown of the new auto insurance coverage limits in New Jersey and explain why it's important to choose the right limits for your needs.
Minimum insurance requirements for New Jersey
In New Jersey, the minimum amount of auto insurance is $15,000/$30,000/$5,000. In the event of a covered accident, your limits for bodily injury are $15,000 per person, with a maximum of $30,000 per incident. It also covers up to $5,000 for damage to another person's property. Let's explore the types of coverages a bit further.
Liability coverage
As a resident of New Jersey, you must have both property damage and bodily injury coverage in your insurance policy.
- Property damage safeguards your assets if you are found legally responsible for a covered accident. The policy covers damage you may cause to another party's property or vehicle.
- Bodily injury safeguards your assets if you're found legally responsible for a covered accident, including certain expenses associated with bodily harm sustained by the other parties.
Liability coverage also provides your legal defense if a lawsuit is brought against you due to a covered accident.
Comprehensive Coverage
Comprehensive coverage is not required by law, but if you have a loan on your car, your lender will likely require you to carry it. Comprehensive coverage pays for damage to your vehicle that is not caused by collisions, such as theft, vandalism, or weather-related damage.
Collision Coverage
Like comprehensive, collision coverage is not required by law but may be required by your lender if you have a loan on your vehicle. Collision coverage pays for damage to your car caused by a collision with another vehicle or object.
The Amount of Coverage We Recommend
For most drivers, we recommend a minimum of $100,000 per person, $300,000 per incident in bodily injury coverage, and $50,000 in property damage coverage. If you have the means, we always recommend purchasing as much coverage as possible. This can help protect you from having to pay out of pocket in the event of a covered accident.
Have You Been In a Car Accident? Let Rosner Law Offices, P.C. Represent you
Our team of attorneys has over 25 years of experience representing clients who have been injured in car accidents. We understand the ins and outs of the insurance process and will work with you to get the compensation you deserve.
Call us today at [F:P:Sub:Phone] or through our online contact form for a free consultation if you have been in a car accident. We'll review your case and answer any questions you have about the process.