New Jersey High Risk Auto Insurance
In New Jersey, there are 81 different companies licensed to underwrite and sell policies insuring automobiles. Some of the ones most likely to offer high risk auto insurance policies include AIG, Atlantic Mutual, Foremost, Geico, esurance, State Farm, Progressive, and Unitrin.
The state has enacted a law that requires all vehicles to be covered by three different type of insurance: Liability, Uninsured/underinsured motorist, and personal injury protection (PIP). The minimum coverage established for these three type of coverage are Personal Injury Liability of $15000/$30000 per individual/accident, Property Damage Liability of at least $5000, Uninsured/underinsured motorist bodily injury $15000/$30000, Uninsured/underinsured motorist property damage of $5000, and PIP of $15000.
The state follows a choice no-fault system that allows a person to choose whether to participate in the no-fault system or to retain the right to sue responsible parties in the event of an accident.
Drivers are required to carry an insurance identification card issued by their insurer in the vehicle at all times. This card must be presented at the following times: prior to the vehicle being inspected, in the event of an accident, whenever stopped by police for a traffic violation, and at police established spot checks. Failure to show the identification card at any of these times can result in some hefty fines. Driving an uninsured vehicle can result in the suspension of one's driver's license, fines, higher insurance rates due to surcharges, and community service. Offenses like these can easily cause an otherwise safe driver to need high risk auto insurance.