subject: Information About Insurance in Califon, NJ [print this page] Information About Insurance in Califon, NJ
Residents of Califon, NJ are required by the law to have three different kinds of auto insurance to legally operate a vehicle. All residents of New Jersey must have liability insurance. In addition, they must have personal injury coverage as well as coverage fro uninsured motorists. Failure to carry this insurance can cause you to have fines that can range up to 15,000 dollars. In addition, your registration and license could be suspended. Repeat offenders can even face jail time. While the law is in place to force drivers to have car insurance remember that insurance can also give you financial protection that lowers the chance that you will have to pay large expenses from your own personal finances. Upon a review of your insurance Califon, you may find that you are under insured and need to increase the limits of your insurance.
Liability insurance includes coverage for injury to persons and to property. The injury to persons is covered in bodily injury insurance. It can cover injuries and costs that are associated with them. The insurance will pay up to the limits of the policy. This amount should be listed in the policy page of Declarations. The minimum amount of insurance required by the state of New Jersey us fifteen thousand dollars per person and thirty thousand dollars per accident. As you are well aware, these limits are low when considering the cost of medical expenses for major trauma. You may want to consider purchasing much higher limits to protect your personal finances. In addition, this coverage may help to pay for any lost wages or personal suffering claims.
Property Damage insurance pays to repair or replace property and vehicles that are damaged in the accidents. These payments are only made if you are deemed to be the person who is at fault in the claim. The minimum amount of insurance is five thousand dollars. If the vehicle that is damaged is a newer vehicle, this amount will not come close to paying for repairs.
PIP (Person Injury protection), is a requirement with all insurance Califon policies. This insurance covers you and the persons in your vehicle in the when there is an accident. This coverage is also known as no-fault insurance in some states. Limits for a PIP normally match those of your liability policy. Usually they increase when you increase your liability coverage.
When choosing your insurance coverage, be sure that it meets as a minimum the state required amount of insurance. If you are wise, you will probably want to choose a policy that offers a much higher coverage than the minimums required by the state. The additional coverage helps to make sure that you are protecting your personal finances as well as meeting the laws requirements.
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