Thanks to the Automobile Insurance Cost Reduction Act, New Jersey drivers are able to buy a basic car insurance policy in New Jersey ñ and whatís cheaper than purchasing the most basic car insurance policy available?
The Automobile Insurance Cost Reduction Act makes it possible for drivers to get cheap car insurance in New Jersey by offering them a policy even cheaper than the standard car insurance policy. The basic car insurance policy includes personal injury protection of $15,000 per person, per accident, and $250,000 per significant or permanent injury. However, the latter depends on the policy definitions. It also includes property damage liability of $5,000 per accident.
Bodily injury liability isnít included in the basic insurance policy, but itís an option. If a policyholder chooses to add bodily injury liability, the policyholder will have $10,000 for everyone, per accident.
Uninsured motorist and underinsured motorist coverage arenít available with the basic car insurance policy, nor is collision coverage or comprehensive coverage. However, collision coverage and comprehensive coverage can be added on, depending upon how the basic car insurance policy was issued.
As you can see, the basic car insurance policy in New Jersey, although itís the cheapest car insurance in New Jersey, offers very minimal coverage; however, it does offer important coverage, as well as additional features. Those drivers with the basic car insurance policy in New Jersey have the right to take legal action in the event of a motor vehicle-related accident, whereas those drivers without any insurance donít have that right.
The basic car insurance policy isnít for everyone. Those drivers who choose to obtain cheap car insurance in New Jersey by purchasing the basic car insurance policy should do so only if they donít have much family responsibility, they are just starting out in the work force, it is the first car insurance policy theyíve ever purchase, or they canít afford any other car insurance for whatever reason.
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