New Jersey Car Insurance and Minimum Coverage Levels

If you are trying to save money on the cost of your New Jersey car insurance coverage, it may be tempting to buy only the minimum amount of coverage required by law. In that state, drivers must have $15,000 in bodily injury liability protection for a single accident victim and $30,000 to pay for the damages sustained by all people injured in an accident.

This really isn’t a high level of protection, and with the cost of medical care continuously on the rise, you would reach your policy limit relatively quickly with even a relatively minor accident. A better choice is to increase the limit on your liability coverage to at least $100,000 for one person injured in an accident and $300,000 to pay for all injuries stemming from the same incident.

Once you reach your policy limit, any other damages owing must be paid by you personally. You would be faced with having to liquidate your assets in order to pay the amount of the judgment against you. The higher premiums payable to increase the level of protection you have in place is money well spent if you are ever involved in an accident.

To get the protection you need at an affordable price, do shop around to compare rates for your coverage.