Property damage protects your assets if you are held legally responsible for a covered accident. Collision insurance is optional coverage that will cover physical damage to your vehicle if it is damaged after colliding with another car or object. It will also cover single-vehicle rollover accidents. Rideshare coverage varies by insurance company, so it's important to know exactly when you're covered and when you're not if you buy rideshare insurance.
Major insurance companies partner with these insurers to offer classic car insurance, or they may offer their own classic car policy. This usually means a vehicle that's at least 25 years old, although some companies will insure newer exotic or muscle cars. If after a covered loss your car is liquidated and you owe your lender more than your vehicle is worth, Gap insurance will pay the difference, minus the deductible. While all drivers must meet the minimum state insurance requirements, the rental company you choose will likely have a different set of insurance requirements when you rent a car.
The maximum number of days your insurer will pay for your rental vehicle depends on how long it takes until your car can be used again. Knowing each type of coverage and what it offers can help you make the best decision when buying car insurance in New Jersey. Car insurance is mandatory in New Jersey, but the type and cost of that coverage can vary significantly. These prices are just estimates based on the rates of an average New Jersey driver and should not be used to compare insurance prices.
Rental reimbursement insurance, also called rental car coverage, pays while the car is being repaired after a covered claim. For this study, MoneyGeek analyzed and compared car insurance rates in New Jersey according to the mandatory minimum car insurance limits specified by state law. You must show proof of insurance when you sign up, as it's illegal to drive in New Jersey without valid car insurance. Driving without insurance is a serious offense in New Jersey and can result in fines, penalties and prison sentences.
MoneyGeek also ranked the best auto insurance companies in New Jersey for those who want solid service and affordable rates. Car insurance costs in New Jersey can vary greatly depending on important factors such as your age, driving history, zip code, vehicle make and model, credit rating, and other factors.