New Jersey mandated that the minimal auto insurance required by the state should be available, more or less, to all drivers. In an attempt to make that happen, the New Jersey Basic Auto Insurance Policy was created.
The name of the policy pretty much says it all. It is just the basics. It’s the most rudimentary New Jersey auto insurance you can imagine. Regarding the minimum auto insurance requirements that are put forth by the state, this basic policy barely covers them – but it does.
The thing about having the bare minimum is that you may suffer where coverage is concerned, including the following:
- Your medical bills
- The medical bills of your passengers
- The medical bills of any other party you inflict injury upon
- Your property
- Someone else’s property, and more
So you can make an informed decision, here are some tips for buying New Jersey auto insurance.
Insurance Applications – Tell the Truth
When you fill out an application for car insurance, make sure you do two things:
- Accurately report information
- Disclose everything
Extra Coverage – Compare Costs
Getting extra coverage above and beyond the basics is highly recommended. It could end up being the difference between getting the compensation you and your family need and deserve or doing without.
Basic Insurance Policies – Beware!
For you and your family, New Jersey’s Basic Insurance Policy offers next to no protection for you or your family. It is the most dangerous policy, but the cheapest.
Selecting Coverage
Probably the best way for anyone to pick out adequate coverage – particularly if they are confused about auto insurance – is to find an attorney who is well-versed in New Jersey’s auto insurance coverage matters.
Umbrella Insurance
Over and above the amount of the coverage you receive for your auto insurance liability, umbrella insurance provides added coverage. A $1 million policy is recommended, or more.
A Good Option: “No Limitation on the Lawsuit”
This ties in with the next section but basically allows you to file a lawsuit or make a claim – for all personal injuries – against a careless driver.
Not a Good Option: “Verbal Threshold” or “Limitation on Lawsuit”
Don’t limit yourself as to the lawsuits you can file in case you become injured at the hands of another. Protect your rights.
Good Coverage to Have: Personal Injury Protection
Don’t rely on your health insurance coverage as primary medical coverage! Note: The PIP coverage suggested next doesn’t help much here, if at all.
PIP (Personal Injury Protection)
For your PIP coverage, consider having a minimum of the following (with the $250 deductible):
Underinsured or Uninsured Motorist Coverage
Should you be involved in an accident with someone who is underinsured or who has no insurance at all, this will go a long way toward your protection. So many drivers today don’t have enough insurance or even any at all. What your auto insurance covers, this is one of your most important policies. We recommend a $500,000 minimum for uninsured and underinsured motorist coverage.
Here Is the Best Tip for Buying New Jersey Auto Insurance
Compare all prices in one place at our K&N Brokerage website, what you see is what you get. So that you can enjoy significant savings, we’ll search for the best deals on affordable insurance coverage. Remember, K&N Brokerage has your best interests at heart.
Click here to fill out a few quick pieces of information for a quote.
