What is the minimum auto insurance coverage required in New Jersey?

In New Jersey, the minimum auto insurance coverage required is commonly referred to as the “minimum liability insurance.” It consists of three main components: bodily injury liability coverage, property damage liability coverage, and personal injury protection (PIP) coverage.

How much bodily injury liability coverage is required in New Jersey?

New Jersey law requires a minimum bodily injury liability coverage of $15,000 per person and $30,000 per accident. This coverage helps pay for the medical expenses, lost wages, and other damages suffered by others in an accident where you are at fault.

What is property damage liability coverage?

Property damage liability coverage is a component of auto insurance that pays for the damages you cause to someone else’s property in an accident. In New Jersey, the minimum property damage liability coverage required is $5,000.

What is personal injury protection (PIP) coverage?

Personal injury protection (PIP) coverage is a no-fault coverage that pays for medical expenses, lost wages, and essential services resulting from injuries sustained in an auto accident, regardless of who was at fault. In New Jersey, the minimum PIP coverage required is $15,000.

Are there any other types of coverage required in New Jersey?

In addition to the minimum liability insurance, New Jersey also requires uninsured/underinsured motorist coverage (UM/UIM) in the same limits as your liability coverage. This coverage protects you if you’re involved in an accident with a driver who doesn’t have insurance or has inadequate coverage.

Are the minimum coverage limits enough?

The minimum coverage limits required by law may not provide sufficient protection in the event of a serious accident. It is advisable to consider higher coverage limits to adequately protect yourself and your assets. Consulting with an insurance agent can help you determine the appropriate coverage for your specific needs.

Are there any penalties for driving without insurance in New Jersey?

Yes, driving without insurance in New Jersey is illegal and can result in penalties. If caught driving without insurance, you may face fines, suspension of your driver’s license, and even the impoundment of your vehicle.

Can I use my existing out-of-state auto insurance in New Jersey?

If you have recently moved to New Jersey, you will need to obtain auto insurance coverage that meets the state’s requirements. Your existing out-of-state insurance may not be valid in New Jersey, so it’s important to contact an insurance provider and update your coverage accordingly.

New Jersey | AutoInsurance.org

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New Jersey Minimum Auto Insurance Requirements (2024)

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Tag: New Jersey

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New Jersey Minimum Auto Insurance Requirements (2024)

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