I am Bob Ciasulli and I own numerous car dealerships in northern New Jersey. It is only natural that you will want to get the best insurance protection you can while not spending more than you have to.
If you live in New Jersey, as I do, you know that owning and maintaining a car can be very expensive, and insurance is a big part of that yearly outlay of cash.
One important thing I have come to realize is that getting the minimum insurance coverage, while cheaper in the short run, can cost you a bundle if you are ever in a serious accident. If you are like me, before you put money down on your next insurance premium, you will want to understand exactly what you are getting.
Here is what New Jersey state law requires you purchase often called 15/30/5 coverage with 15/30 UM limits.
New Jersey drivers can sue for any mishappening related to an automobile, and because of that, you need to purchase enough insurance to pay for medical expenses for you and your passengers, and this is probably going to be much greater than the minimum amount.
You also need to make sure you have enough insurance to protect against auto injuries caused by an uninsured driver.
A Basic Policy Includes:
If you live in New Jersey, as I do, you know that owning and maintaining a car can be very expensive, and insurance is a big part of that yearly outlay of cash.
One important thing I have come to realize is that getting the minimum insurance coverage, while cheaper in the short run, can cost you a bundle if you are ever in a serious accident. If you are like me, before you put money down on your next insurance premium, you will want to understand exactly what you are getting.
Here is what New Jersey state law requires you purchase often called 15/30/5 coverage with 15/30 UM limits.
New Jersey drivers can sue for any mishappening related to an automobile, and because of that, you need to purchase enough insurance to pay for medical expenses for you and your passengers, and this is probably going to be much greater than the minimum amount.
You also need to make sure you have enough insurance to protect against auto injuries caused by an uninsured driver.
A Basic Policy Includes:
- Bodily Injury Liability: $15,000/$30,000 Limit
- Property Damage Liability: $5,000 Limit
- Uninsured/Underinsured Motorist Bodily Injury: $15,000/$30,000 Limit
- Uninsured Motorist Property Damage: $5,000 Limit
- Personal Injury Protection (PIP): $15,000 Limit
- $250,000 PIP limit for permanent or significant injury.
- Property Damage Liability: $5,000 Limit
- Personal Injury Protection: $15,000 Limit
- Standard Policy
So how much insurance should you buy beyond your state's minimum?
Make sure you purchase enough liability coverage to protect your assets. Talk frankly with your insurance agent to make sure you have enough health benefits to protect your assets in the event of an accident. It is wise to increase the bodily injury coverage and the uninsured and underinsured motorist coverage too.
Some experts recommend purchasing liability limits for $50,000 bodily injury liability for one person injured in an accident, $100,000 for all people injured in an accident. They also recommend at least $25,000 property damage liability because most cars on the road today are worth more than $20,000. Whatever you decide to purchase, it is wise to read over your insurance policy and make sure you understand exactly what it will cover.
I know the last thing we want to think about is what will happen when and if we are ever in an auto accident, but understanding your insurance coverage can save you a bundle!
Bio: Bob Ciasulli owns and operates several car dealerships in northern New Jersey, and is very interested in any information that can save New Jersey drivers money on their car, including car insurance.
Make sure you purchase enough liability coverage to protect your assets. Talk frankly with your insurance agent to make sure you have enough health benefits to protect your assets in the event of an accident. It is wise to increase the bodily injury coverage and the uninsured and underinsured motorist coverage too.
Some experts recommend purchasing liability limits for $50,000 bodily injury liability for one person injured in an accident, $100,000 for all people injured in an accident. They also recommend at least $25,000 property damage liability because most cars on the road today are worth more than $20,000. Whatever you decide to purchase, it is wise to read over your insurance policy and make sure you understand exactly what it will cover.
I know the last thing we want to think about is what will happen when and if we are ever in an auto accident, but understanding your insurance coverage can save you a bundle!
Bio: Bob Ciasulli owns and operates several car dealerships in northern New Jersey, and is very interested in any information that can save New Jersey drivers money on their car, including car insurance.
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