As a responsible driver in the state of New Jersey, you understand auto insurance is mandatory in New Jersey. If you drive without insurance coverage, you are breaking the law. You are risking fines, suspensions of your license or registration, and you could even spend time in jail. Why take the risk when you can satisfy the law with basic insurance coverage. At Creative Risk Management LLC in New Jersey, we are independent insurance agents, which means we represent many carriers, and we know our loyalty belongs to our customers.
A standard insurance policy in New Jersey has 15/30/5 coverage. This means it covers $15,000 in bodily injury to someone hurt in an accident where you are responsible with a total of $30,000 per accident. It also includes $5,000 for property damage. It must also include a minimum of $15,000 for injuries to you. This is just the starting point. In fact, New Jersey offers a policy called the basic insurance policy, which offers no bodily injury and $5,000 property damage and personal injury of $15,000. This is intended for young drivers with no family obligations or personal assets. It gives them the insurance they must have to stay legal but not much more.
If you have a car loan or lease your vehicle, you will need to have collision and comprehensive coverage to protect the vehicle.
For most people, standard insurance is not going to offer adequate protection. Liability is designed to protect you in the event you cause an accident. It doesn’t really protect much if it is only $5000 in property damage, and a car can cost over $20,000. Liability is available up to $100,000 for property damage and $250,000 for bodily injury.
Contact us at Creative Risk Management LLC to discuss the amount of auto insurance you need to feel protected. We will be happy to answer any questions you may have.
