Most states require a certain level of auto liability insurance to register and drive your car. New Jersey isn’t any different. The minimum limits include:
Bodily Injury Liability – $15,000 per person / $30,000 per accident
This is coverage for claims and lawsuits by people injured as a result of an auto accident you cause.
Property Damage Liability – $5,000 per accident
This is coverage for claims and lawsuits by people whose property is damaged as a result of an auto accident you cause.
Uninsured/Underinsured Bodily Injury – $15,000 per person / $30,000 per accident
Uninsured Motorist Property Damage- $5,000 per accident
This is coverage that pays for property damage or bodily injury if you are involved in an accident caused by another driver who does not have the minimum level of insurance required by law or a driver that has insurance, but who carries less coverage than your underinsured motorist coverage.
Personal Injury Protection-$15,000 Limit
This coverage provides protection for injuries sustained in an automobile accident by you or other persons covered under your policy.
Many drivers will opt for higher amounts of auto insurance coverage than the state minimum to protect themselves in case of an accident.
Other coverages to consider on your auto policy include physical damage coverages such as:
Collision-Coverage for damage to your vehicle as the result of a collision with another car or other object.
Comprehensive -Coverage for damage to your vehicle that is not a result of a collision with another car or object. This would include theft of your car, vandalism, flooding, a fire or a broken windshield. Comprehensive coverage also pays if you strike an animal.
It’s important to note that comprehensive and collision coverages are subject to a deductible. The deductible is the amount you pay out of pocket before insurance kicks in.
Other optional coverages include:
- Rental car coverage
- Roadside coverage
- Loan/lease gap coverage