What Kind of an Insurance Policy Should I carry on my Vehicle?

Under New Jersey State Law you must carry an insurance policy on your vehicle or you will be prevented from making a claim for injuries against another insured driver if you were uninsured before the accident even if the accident was completely the other driver's fault.

Besides that, any individual facing a driving an uninsured vehicle charge is exposed as follows under New Jersey State Law:

First Offense: up to $1,000.00 in fines and 1 year loss of license;

Second Offense: up to $5,000.00 in fines, 2 years loss of license and 14 days in jail.

So since the vehicle you are driving must be insured, the State of New Jersey sets minimum mandatory insurance requirements that you must meet to drive your car.

But determining the appropriate amount of insurance protection to carry depends on the circumstances of your life because the more wealth you have, the more insurance can benefit you by protecting your wealth from the astronomical costs of a serious automobile accident.

Adequate insurance policy coverage that can pay for the damages of an accident permits you to devote your energies to getting well again, knowing that you do not have to worry about how you will pay for your necessary medical treatment and living expenses.