The auto insurance coverage requirements of each state are different. In New Jersey,
for a Standard Policy, state law requires a minimum coverage of $15,000 per injured
person up to a total of $30,000 for everyone hurt in an accident, and coverage of
$5,000 for property damages. New Jersey also requires UM/UIM with $15,000/30,000
and PIP coverage of $15,000.
Bodily Injury
$15,000 for the death or injury of any one person, any one accident.
$30,000 for all persons in any one accident.
Property Damage
$5,000 for damage to property of another person.
UM / UIM
$15,000 for the death or injury of any one person, any one accident.
$30,000 for all persons in any one accident.
Personal Injury Protection (PIP)
$15,000.
New Jersey Tort Options
The right to recover damages is legally known as tort options. The state of New
Jersey requires you to select one of the following tort options to define your right
to compensation in the event that another party injures you or members of your household
in an auto accident:
Limited Right to Recover Damages (Limited Tort).
Full Right to Recover Damages (Full Tort).
Territorial Rating Commission: Rating Territories to be Revised
New Jersey state law places a cap on the Auto Insurance premiums that can be charged
in certain areas of the state, even though these areas generate more accidents,
claims and lawsuits than other parts of New Jersey. The result is that Auto Insurance
premiums in these capped areas are inadequate to cover the losses that are generated
there and force other New Jersey Drivers to subsidize the rates. The new reform
law mandated a state-appointed commission review and revised these geographic territories
for the first time in over 50 years.
