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Deciding on the best policy for you and your family can prevent financial ruin

Owning a vehicle is an expensive but necessary evil for most New Jersey residents. One of those pricey costs includes insuring your vehicle, which is mandatory by law. Driving without insurance could lead to heavy fines and substantial out of pocket expenses if you were to get into a New Jersey auto accident.

According to the Fatality Analysis Reporting System (FARS), there were over 10 million traffic accidents across the United States in 2009. 33,808 people died that year because of car crashes and 2.3 passengers and drivers received treatment in a hospital. Those accidents – including injuries and death – cost around $70 billion.

When it comes to choosing car insurance, what is the best option for you and your family? If you get in an accident, who will pay for your medical bills and car damage? Will you have to hire a Morristown accident lawyer to resolve your case?

In New Jersey, drivers can choose from a Basic or Standard policy. While a Basic policy carries less expensive premiums, a Standard one will offer better protection in the event of an accident. If an accident you cause leads bodily harm for the other driver, a Basic insurance policy will not cover their medical care – you will have to pay the cost. Both Standard and Basic insurance policies include Property Damage Liability and Personal Injury Protection. However, a Basic plan provides significantly less coverage and you will probably have to pay some money out of pocket for serious accidents. Additionally, Standard insurance plans allow you to choose to add Collision and Comprehensive coverage for additional protection. Most companies may not allow you to add these additional protections to a Basic plan.

Furthermore, a Basic insurance plans limits the rights you have to sue in the event you are involved in a crash that is not your fault. For more information, see our article What is Verbal or Limitation on Lawsuit Threshold in terms of New Jersey car insurance? A New Jersey accident attorney can help you in the event you are involved in an automobile lawsuit. 

The law firm of Manfred F. Ricciardelli, Jr. LLC represents good, honest people in New Jersey car accident claims. Call us at 973-285-1100 today for a free consultation.

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