If you are interested in saving money on the cost of your New Jersey auto insurance coverage, you may wish to consider the named driver exclusion. With this option, you can elect to have certain people removed from the collision and/or comprehensive coverage on a particular car. Keep in mind that collision and comprehensive coverage makes up a good portion of what you are paying for in premiums.
Taking this step will lower your premium rates, but if the person who is excluded is involved in an accident, there is no protection for your vehicle. You may have to pay for the cost of repairs personally.
The named driver exclusion is an option, but a better choice for people who want to save money on the cost of their coverage may be to look at other ways of keeping costs down.
To keep costs down, shop around for coverage. Each company licensed to sell insurance in New Jersey sets its own rates for its customers, and by shopping around you will be able avoid spending more than you have to for this valuable protection.
Many insurance companies offer discounts to customers, so be sure to ask which ones you qualify for. Compare the amount you would save with the named driver exclusion to the other ones offered by your New Jersey car insurance company before making your decision.