Auto coverage can be confusing for many people, especially since the regulations differ between states. In New Jersey, you have different options when it comes to purchasing auto coverage. Read on to make sure that you understand what you need in terms of understanding New Jersey auto insurance so that you can make wise and informed decisions.
Auto Insurance Requirements in New Jersey
New Jersey requires you to have car coverage. You need to choose between a basic and a standard policy. Evaluate and compare both during your research to find out which is best for your financial needs.
Understanding the Basic Policy
The basic policy offers limited coverage; however, it is also a more affordable package.
It includes the following:
- Covers up to $5,000 for property damage liability, per accident. This pertains to any damage you might have inflicted on other people’s property during an automobile incident.
- Covers up to $15,000 of personal injury protection, per person in each accident. This will compensate injuries suffered due to an automobile incident.
- Covers up to $250,000 for serious injuries, such as permanent brain trauma.
Bodily injury liability (BDL) is not included in this policy, but you are offered the option to purchase $10,000 of this coverage.
Understanding the Standard Policy
The standard policy is pricier, but it can save you more money in the long run. This is because it offers more comprehensive coverage.
If you decide on a standard policy, you will have the following at least:
- Covers up to $15,000 of injuries, per person in each accident. This compensates any injuries inflicted on those that are not in your car in an event of a car crash.
- Covers up to $30,000 of BDL for more than one person injured within an accident.
- Covers up to $5,000 of PDL in each accident.
- Covers up to $15,000 of PIP for each person within the car accident.
- Covers up to $250,000 of PIP for any severe or even permanent injuries.
No matter which policy you choose, make sure that you pay for as much as you can afford. You do not want to skimp out on your coverage and end up having to pay more in the long run due to poor preparation. Take responsibility and protect you and your family today by obeying the law and finding the right policy for you and your family.