New Jersey Car Insurance is a Fact of Life
Car insurance is a fact of life in New Jersey, it is a legal requirement to license and operate a vehicle and the state has basic insurance requirements that all vehicles in the state must have. New Jersey car insurance has four different liability limits; there is one limit of $15,000 dollars for one person that is injured in an accident either in the other vehicle or as a passenger in the one insured. There is a $30,000 dollar liability limit for an accident where there is more than one person injured or killed. New Jersey is a state that also requires that there be a $15,000 dollar limit for personal injuries, and they require drivers to have $5,000 for property damage.
When a vehicle has a bank, credit union or finance loan on it the NJ car insurance requirements do not apply, the lending institution will require that full coverage insurance be carried until the loan amount is paid. This means having comprehensive insurance that will cover the amount of the loan if the vehicle is totaled in an accident, or pay for repairs to any damage done to the car.
New Jersey car insurance is a requirement to obtain license plates and to drive legally on the road, when there is a vehicle stopped that does not have proof of insurance the vehicle can be impounded and the driver will be fined. In order to have the vehicle returned there will need to be proof of insurance and impound fees paid.