Car Insurance Mandated in the State of New Jersey
If you live in the state of New Jersey and drive a vehicle there is one thing you need leave room in your budget for; purchasing car insurance. Car insurance is mandatory in the state, and there are many New Jersey auto insurance companies who will provide it for you. This applies no matter what type of vehicle you drive on the road and no matter your previous driving record or history. Mandatory car insurance is meant to protect all drivers on the road in New Jersey. Getting into an accident, whether or not you are at fault, can be a personal and financial nightmare without insurance coverage. Not to mention the legal trouble you can get into for not carrying vehicle insurance coverage. In order to protect yourself and stay on the good side of the law, it is important to know the insurance requirements in the state of New Jersey and abide by them.
Minimum Car Insurance Requirements
Basic car insurance requirements for drivers in New Jersey State are $10,000 for the injury or death of two or more people and $5,000 in property damage. With basic coverage bodily injury liability is not an option. Basic coverage is most ideal for younger drivers who have little or no assets, and drivers whose cars are not worth very much. Standard coverage requirements are $15,000 for the death or injury of one individual, $30,000 for more than one injury or death, $5,000 in property damage, $15,000 for Personal Injury Protection, also known as PIP, and $15,000 for underinsured or uninsured motorist injury.
Options in Insurance Providers
Luckily for New Jersey residents there are several different New Jersey car insurance companies offering auto insurance coverage in the state. This provides good competition and the chance for drivers to obtain the lowest rates available. The top New Jersey auto insurance companies are:
21st Century Group
This insurance company was founded in 1958. As of 2009 it is owned by Farmers Insurance Group, formerly it was owned by AIG.
Allstate Insurance is the second largest insurer of personal lines of insurance in the United States. It is also the largest publicly held insurance company. It was founded in1933 and was a part of Sears, Roebuck, and Company.
Amica Property and Casualty Insurance Company
Amica was founded in 1907. It has over 3,000 employees across the country and is headquartered in Rhode Island. It is one of the few larger insurance firms that ranks high in JD Power consumer satisfaction rankings.
Farmers Insurance Group
Farmers is the third largest provider of private auto and homeowners insurance in the United States. They insure 10 million households and hold more than 20 million policies. Approximately 24,000 people are employed by Farmers around the country.
Geico is a different insurance company in that it does not use an agent for sales. It uses a direct-to-consumer model of sales with television marketing. It is known for the use of popular culture in its amusing ads.
If you are searching for the cheapest auto insurance available to you, check out Newjerseyautoinsurancequotes.org. This site will help you find the best and most cost effective insurance for your vehicle and driving needs. Even though car insurance is mandatory in New Jersey, spending too much on auto insurance is not.
You might be able to save even more, especially if you live in: