Car accidents can cause a tremendous amount of stress and financial burden for everyone involved. And even the most careful drivers are not immune. Whether you are traveling on the New Jersey Turnpike or a quiet residential street, accidents from minor fender benders to multi-car pileups can and do happen in Cherry Hill, New Jersey. New Jersey law requires all vehicle owners in the state to have at least a minimum amount of liability coverage in case they cause an accident.
To have the peace of mind you need, it’s smart to purchase a robust car insurance policy with appropriate coverage limits and the additional coverage options that best fit your needs and budget. A local independent insurance agent can help take the confusion out of car insurance. Your agent can explain your options, obtain multiple quotes for comparison, and help you make the right choice.
New Jersey Car Insurance Requirements
If you own a vehicle in New Jersey, you are required to purchase auto insurance. But this isn’t the only reason to have car insurance. Without it, you are entirely unprotected from the financial consequences of causing a crash. The following are the minimum coverage requirements for New Jersey drivers:
- Bodily injury liability: Required
- Property damage liability: Required
- Personal injury protection (PIP): Required
- Uninsured motorist coverage: Required
- Minimum liability limits: 15/30/5; coverage up to $30,000 for all persons injured in an accident, subject to a limit of $15,000 for one individual; and $5,000 coverage for property damage
It’s important to know that if you only purchase the minimum liability coverage, you could be seriously underinsured. If you cause a major collision, the expenses can include medical bills for other drivers and passengers, vehicle repair costs, and even attorney fees and settlements or judgments levied against you if you are sued for negligence. If these exceeded your coverage limits, how would you pay?
Purchasing liability limits that are higher than the state minimum is a good idea. For even more coverage, you can purchase a personal umbrella policy, which offers protection beyond the limits of your auto insurance policy. An independent agent can help determine how much liability coverage is necessary to adequately protect your assets should the worst happen.
How Much Does Car Insurance Cost in Cherry Hill, NJ?
New Jersey is the 10th most expensive state for car insurance, and average rates in Cherry Hill are similar to the state average. Shopping around for the best rate and taking advantage of discounts can help you save on your Cherry Hill car insurance.
- National average annual car insurance cost: $1,311
- New Jersey average annual car insurance cost: $1,595
- Cherry Hill average annual car insurance cost: $1,585
Remember, auto insurance rates often vary significantly from one driver to the next, so your rates may be more or less than average. This is because insurance companies base your rates on several of your unique characteristics, such as:
- Your age, gender, and marital status
- Your driving history and credit score
- Your car’s year, make, and model
- The approximate number of miles you drive each year
- The coverage limits, coverage options, and deductibles you choose
- Whether you are bundling your auto insurance with other policies like homeowners insurance or renters insurance
Every insurance company uses different criteria to calculate car insurance premiums. What’s more, most companies offer a variety of discounts that you can qualify for. An independent agent in Cherry Hill can help you compare quotes, choose policy options, and maximize your discounts.
Number of Uninsured Motorists in New Jersey
Driving without insurance is against the law in New Jersey, yet many drivers continue to drive without coverage and put everybody else on the road at risk.
- How many US drivers are uninsured? 12.6%
- How many New Jersey drivers are uninsured? 14.9%
Uninsured motorist coverage is required in New Jersey. It covers you if an uninsured, underinsured, or hit-and-run driver hits you and cannot pay for your injuries or vehicle repairs. You’ll be reimbursed for your accident-related expenses, even if your insurance company can’t collect from the at-fault driver.
Number of Auto Thefts in New Jersey
The auto theft rate across the state of New Jersey is lower than the national average, but in Cherry Hill, the auto theft rate is quite high.
- National auto theft rate per 1,000 vehicles: 2.94
- New Jersey auto theft rate per 1,000 vehicles: 1.27
- Cherry Hill auto theft rate per 1,000 vehicles: 4.29
It’s important to consider adding comprehensive coverage to your auto insurance policy. It reimburses you for your lost or damaged car. And it also offers coverage for all kinds of “other than collision” vehicle damage, such as damage from falling objects, floods, structure fires, and more. Talk to a local insurance agent about comprehensive coverage and how it can help you pay to repair your car in a variety of unforeseen circumstances.
Why Contact an Independent Insurance Agent?
Independent insurance agents are insurance professionals who can explain your coverage options, answer your questions, and provide you with customized car insurance quotes from multiple insurance companies. With the help of an independent agent, you can make an informed choice.
Start your search by contacting an independent agent in or near Cherry Hill.
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