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Law Offices of John Morelli
A Personal Injury Firm Serving All Of South Jersey

How Much Insurance Should I Have

The insurance laws provide that the owner of an automobile has a choice of three different types of policies in New Jersey. A "standard" policy includes the minimum liability required under New Jersey law, uninsured/underinsured motorist benefits and PIP coverage required under New Jersey law. The minimum limits in New Jersey are $15,000 per person and $30,000 per accident for liability, however a policyholder has the option to purchase additional liability and uninsured and underinsured motorist coverage up to $250,000/$500,000.

"Basic" and "Special" Policies

A "basic" policy provides no liability or you UM/UIM coverage and only limited PIP coverage. A "special" policy is available only to persons who qualify for Medicaid and provides only limited emergency PIP benefits. This is known as a "dollar a day" policy. It provides no coverage for any accident that you get into except for emergency medical care on the day of the accident. Studies that have been done over 10 years ago estimated that 26% of the drivers in the State of New Jersey were operating with either the minimum coverage allowed or no insurance. In today's economy, these figures are much higher and have been estimated to be as much as 40% of the drivers on the roadway. By purchasing a standard policy, you are at least providing coverage against those uninsured and underinsured drivers for you and your household members. It is strongly recommended that you increase this coverage to protect your family against those persons on the road that are operating without any insurance or with as little coverage as it is legally allowed.

Underinsured or Uninsured Motorist Coverage

If you are injured in a car accident and only have the minimum coverage under a standard insurance policy for underinsured or uninsured motorist coverage, regardless of how seriously you were injured, you will be limited to a $15,000 recovery. This would include all of your lost wages, pain and suffering, future lost wages, disability and the impact on your quality of life.

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