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New Jersey Auto Insurance  New Jersey has been a no fault State since 1973. No fault insurance places limitations on the injured parties ability to sue other drivers for damages. In no fault insurance, your auto insurance company will pay for your damages (up to your policy limits), regardless of who was at fault in the accident. Other drivers involved will be covered by their auto insurance companies. New Jersey minimum liability limits; $15,000 per person for injuries you cause to the other parties, $30,000 total per accident, and $5,000 for damage you cause to the other party's property. Other mandatory coverages include $1,000 in medical payments (PIP) coverage and $15,000 (per person) and $30,000 (total per accident) in uninsured (UI) and underinsured motorist (UIM) coverage. Optional plans include blanket umbrella, collision, and comprehensive coverage. If you are convicted of DUI in New Jersey (Assuming your insurance company doesn't drop you immediately), your insurance costs will increase at least 30%. Buying insurance through a "high-risk" agency will cost substantially more. If you are high risk (multiple tickets and/or accidents), you may have to use the New Jersey Automobile Insurance Plan (NJAIP). The New Jersey Automobile Insurance Plan was created in 1972 to provide automobile insurance coverage to eligible risks who seek coverage and are unable to obtain such coverage through the voluntary market. Eligible New Jersey Automobile Insurance Plan drivers are shared among companies writing automobile insurance in the state of New Jersey. Below (again) are the minimal limits.
Proof of insurance is required to be kept at all times in vehicle, and especially at the time of an accident. Penalties for driving without insurance in New Jersey include a $300-$1,000 fine, community service, 1-year license suspension. Insurers must submit entire list of insurance in effect, which may be compared with registrations at a state agency (Also known as a computer data law). |
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