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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 isn't included in the basic insurance policy, but it's 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 aren't 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 it's 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 don't have that right.
The basic car insurance policy isn't 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 don't have much family responsibility, they are just starting out in the work force, it is the first car insurance policy they've ever purchase, or they can't afford any other car insurance for whatever reason.
It is important to shop for cheap car insurance in New Jersey whenever you rent a car. If you rent a car in New Jersey, the car is not yours; it is only in your possession for a certain period of time. That means you can not put off repairing damages to the car until you can afford it. Rental car insurance is important.
One way to get cheap car insurance for rental cars in New Jersey is to pay the car rental agency's collision damage waiver (CDW), loss damage waiver (LDW), liability insurance supplement (LIS), personal accident insurance (PAI), and personal effects coverage (PEC). These types of rental car insurance which will protect the rental car, your personal belongings, your person, and your bank account against damages acquired while the rental car is in your possession.
Yet, depending on how long you have the rental car, these insurance coverages can add up on your final bill, turning cheap car insurance to expensive car insurance. Therefore, you should check into other ways of obtaining cheap car insurance in New Jersey for your rental car.
If you already have car insurance for the vehicle you own, it may or may not cover rental cars – ask. If you do not own a vehicle, and therefore do not have a car insurance policy, you should look into temporary car insurance policies for rental cars in New Jersey. Yet, some car insurance policies do cover rental cars, or allow you to choose the option of insuring rental cars. You may even be able to choose that option for the specified amount of time you will have the New Jersey rental car.
Another option for obtaining cheap car insurance in New Jersey for your rental car is to use your credit card to pay for the rental. Many credit card companies offer these kinds of insurance services for special purchases such as renting a car.