Anamarie Waite, Car Insurance Writer
Drivers in New Jersey need $5,000 of property damage liability insurance. New Jersey also requires personal injury protection (PIP) insurance. PIP covers medical expenses for you and your passengers after an accident.
Here’s How Much Car Insurance Drivers Need in New Jersey:
Minimum Coverage Limit
Property Damage Liability
Personal Injury Protection
If you lease or finance your car, you may be required to carry coverage types that are not mandatory under New Jersey law. Lenders usually require comprehensive and collision insurance. Collision insurance covers repairs to your car when you hit another car or object. If the damage to your vehicle was caused by something other than a collision—like a natural disaster, vandalism, falling objects, or animals—it is most likely covered by comprehensive insurance. Lenders may also require gap insurance, which covers the difference between what you owe on your loan or lease and what the vehicle was worth if it gets stolen or totaled.
Even if you’re not required to carry these optional coverage types, you may still need them. You can learn more about when to drop optional coverage and the penalties for driving without insurance in New Jersey to make sure you’re paying for the coverage you need.
People also ask
Did we answer your question?