While you’ll need to make lots of choices about auto insurance coverage and policy options in NJ, you won’t have to make these decisions on your own, nor should you have to.
Let’s face it, insurance can be overwhelming: there are mandatory coverages, optional ones, different deductible levels and policy limits. Some people need a policy for a single vehicle, others are looking for a multi-car policy. Whether you choose to work with a Plymouth Rock professional or a local agent, you’ll have someone there to answer your questions and help you build a policy that meets your needs and fits your budget.
Everyone needs liability insurance. It is required for all vehicles registered in the Garden State. The limits you choose should be sufficient enough to cover the value of your assets in the event of a lawsuit stemming from damage you have caused or are responsible for under your policy. If the value of your assets exceeds your liability limits, you can purchase supplemental coverage through an umbrella policy.
Another type of liability insurance is general liability. Also known as GL, this provides business operators with coverage for property damage, bodily injury, and personal injury.
The minimum required car insurance for a standard auto policy in New Jersey requires four lines of coverage:
Damage to Someone Else’s Property Minimum limit of $5,000 per accident
Personal Injury Protection (PIP) pays for medical expenses, loss of income, and other miscellaneous expenses regardless of fault.
Uninsured/Underinsured Motorist Coverage Bodily Injury Caused by an Underinsured Auto protects you, anyone you let drive your car, household members and passengers (unless covered by another policy with similar coverage) against losses caused by an underinsured driver to the coverage limits you select.
Bodily Injury Liability $15,000 per person, $30,000 per accident.
Accidents can often result in damage that exceeds the state required coverage limits. Depending on your individual needs, you might want to purchase increased limits on required coverages or consider additional types of coverages.
Bodily Injury Caused by an Underinsured Auto protects you, anyone you let drive your car, household members and passengers (unless covered by another policy with similar coverage) against losses caused by an underinsured driver to the coverage limits you select.
Medical Payments coverage pays for reasonable expenses for necessary medical and funeral services incurred by certain individuals as a result of an accident up to the coverage limits you select.
Collision Coverage can help you pay for physical damages to your car if you’re involved in a covered accident. It doesn’t cover wear and tear, mechanical breakdowns or damage from hitting an animal.
Comprehensive coverage pays for damage to your car caused by events such as fire, theft or vandalism; in other words, damage caused by something other than a collision.
Substitute Transportation reimburses you for a rental car or other substitute transportation up to your selected daily reimbursable limit and up to your selected number of reimbursable days if your car is damaged from a covered Comprehensive, Collision or Limited Collision claim.
Towing and Labor pays up to the limit you have selected per disablement for the cost of towing your car to a repair shop when it is unable to be driven.
Replacement Cost Coverage usually reimburses you for the full cost of replacing the items you lose, rather than simply reimbursing you for the value of the item at the time it was lost.
You’ll be treated to great customer benefits with every Plymouth Rock personal auto policy. Plus, you’ll have upgrade options available, so you can take advantage of additional services and policy features that best suit your needs. Find out more about the Assurance Packages available.
The auto insurance limits you choose determine how much Plymouth Rock will pay in the event of a loss covered under your policy. Intuitively, the higher they are, the more expensive your policy will cost. However, the risk of carrying lower limits is that you will be responsible for higher out-of-pocket costs in the event of an accident. When considering how to choose your car insurance limits, you need to balance risk and the cost of your policy.
This is just a brief summary of these coverages. Additional terms and exclusions apply. Actual coverage is subject to the language of the policy as issued. Please refer to your policy for more information or contact a local independent Plymouth Rock agent.