Source: www.nj.gov
Topic: Car Insurance
Sort Desciption: What Affects the Cost of Auto Insurance? Auto insurance rates vary from company to company, driver to driver,. car to car, and coverage to coverage. ...
Content Inside: blank Dear New Jersey Driver, Auto insurance is required in New Jersey. As a New Jersey driver, you have many choices when it comes to purchasing auto insurance. Each choice you make affects the coverage you receive and the amount you pay. As with any major purchase, you need to understand the product before you buy it. The New Jersey Department of Banking and Insurance has prepared this guide to help you understand auto insurance and explain how to shop for the coverage that best suits your needs. Whether you are buying a new insurance policy or renewing your current policy, this guide will outline how to make choices that work for you. It is important to remember that you have the right to change your coverages and policy limits at any time, even if you are not near your renewal date. If you need more information about auto insurance options, visit the Department’s web site, www.njdobi.org, or call or write to the Department. You also are invited to visit one of our two consumer centers, located in Newark and Camden. Contact information is located on the back cover of this guide. Sincerely, Steven M. Goldman Commissioner Where Should You Start? . 1 What’s in a Policy? . 2 What are the Types of Policies? . 4 What are Limits and Deductibles? . 5 Do You Want an Unlimited Right to Sue? . 8 What is the Assigned Risk Market? . 9 What is Tier Rating? .11 What Affects the Cost of Auto Insurance?.12 What is Insurance Scoring? .17 What Should Every New Driver Know?.21 What Should You Do if You’re in an Accident?.24 Who is At Fault? .26 What are Your Rights?.28 What is Auto Insurance Fraud? .32 Frequently Asked Questions .33 Table of Contents Whether you are buying a new insurance policy or renewing your current policy, you will make many decisions about what coverage you need and how much you can pay in premium (the amount of money a company charges for insurance coverage). Some things to consider: Understand Your Needs Do you rent or ...
