How much New Jersey car insurance coverage should you buy? According to state laws, New Jersey has a state minimum car insurance rate of 15/30/5. That probably sounds like a foreign language, but simply means that you are required to have:
- $15,000 per person for injury
- $30,000 per accident for injury
- $5,000 property damage
Additionally, since New Jersey is a no-fault state, you must have:
- Personal injury protection
- Uninsured motorist coverage
Those limits are among the lowest in the nation, but that’s all that the state requires people to have. Of course, it’s always going to be a better idea to get more coverage to protect yourself. How much coverage should you get? Full coverage is always best, but it’s going to be up to you in the end.
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How Much Coverage is Enough?
Think about this. If you have $5,000 of coverage for property damage, and you are cited in an accident where a $15,000 car is totaled and you are responsible for replacing $3,000 worth of public or private property that was involved in the accident (such as street signs, homes, etc.), your minimum coverage won’t foot the bill. You’ll be $13,000 in debt and in most cases you’ll get sued for that money. People won’t just wait until you can pay.
This is why it’s always better to have more insurance. A more reasonable level of coverage would be 100/300/25. That’s $100,000 per person for injury, $300,000 per accident for injury, and $25,000 for property damage. In most states, this is higher than full coverage but it is not going to cost a lot more for your monthly premiums. Would you rather pay an extra $50 a month for car insurance or thousands, if not millions, in damages to someone because you were underinsured?
Choosing NJ Auto Insurance Providers
There are many different insurance providers to get your New Jersey car insurance from. Top companies include Progressive, Allstate, Farmers Insurance Group, Selective Insurance Group, and Travelers. The best way to choose your provider is to get quotes from each company that you decide to visit. Get quotes for varying levels of coverage so that you can compare the spectrum of options fully.
You will also need to check out the reputation and customer service of each company. Although the companies listed here are all major brands, you will still need to be wary of their claims processing regulations, their speed of response to your needs, and things like that. What good is a New Jersey car insurance company, even if they’re the cheapest, when they aren’t there when you need them?
New Jersey Car Insurance Summary
You should always get more insurance, not less. You will want to make sure that you choose the right provider, and that you take your decision seriously. Getting a NJ car insurance policy is no laughing matter and you don’t want to be one of the people who don’t realize how serious it is until it’s too late.Enter your zip to compare NJ auto insurance quotes now!
