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Category Archives: New Jersey Insurance

New Jersey Car Insurance

All New Jersey drivers know the Auto insurance landscape in Garden State has drastically changed. Prior to 2009, New Jersey drivers were limited to very few choices when it cam to obtaining liability insurance for you car, truck or SUV. Because of the population areas in the northern part of the state and the coastal risks along its eastern border, insurance companies have very difficult time trying to post a positive underwriting profit. Further, the statutory limitation created by the New Jersey legislature in those days made it even more difficult to correct a carriers rate filing. Most people notice that all auto and homeowners insurance carriers have a different rate. The rates a carrier charges is based on an actuaries finite estimation of how many claims an insurance company will need to pay for in relation to the amount of insurance premium the carrier will collect from it’s customers annual and monthly. These actuaries are highly educated individuals and are very good at what they do. Under normal circumstances, a set of auto insurance or homeowners rates files with the New Jersey Department of Insurance will perform as planned. As I mentioned before New Jersey has 3 issues it must overcome.

Until January 1st 2009, most companies had a difficult time making a profit, because of the changes the New Jersey Department of Banking and Insurance put in place after that date – things have changed for the better. Regardless whether you are purchasing a new auto insurance policy or you are about to renew an existing policy; understanding the coverage required to meet the minimum coverage requirements of the state and what coverages you need to protect your assets are two very different things. And to choose the right coverage for your individual situation, you’ll need to consider a number of issues regarding not only the car you drive, but also when you drive, where you drive, and what additional and optional coverages you may need. Do you rent or own your own home? Do you have assets to protect? Will your own health insurance cover auto accident injuries? How much insurance coverage can you afford? If you have a bank loan on my car, do you need to carry Comprehensive and Collision? These are some of the questions you’ll need to discuss with a licensed insurance agent before making car insurance coverage choices.

In New Jersey:

  • All Insurance Agents, brokers and carriers must tell you about all the coverage options available when applying for a new auto insurance policy. In addition, as an auto insurance client, you have the right to ask the same information during the policy period.
  • You have the right to shop for auto insurance at any time during the policy period. If an agent states you can’t shop during the policy period, this in not the truth. Some Insurance agents may say this to hold on to you as an auto insurance customer. This is also true when your policy is up for renewal.
  • 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 select options that save you money, you have a right to a refund of your unused premium within 60 days.

New Jersey Counties

  • ATLANTIC, NJ
  • BERGEN, NJ
  • BURLINGTON, NJ
  • CAMDEN, NJ County
  • CAPE MAY, NJ
  • CUMBERLAND, NJ
  • ESSEX, NJ County
  • GLOUCESTER, NJ
  • HUDSON, NJ
  • HUNTERDON, NJ
  • MERCER, NJ
  • MIDDLESEX, NJ
  • MONMOUTH, NJ
  • MORRIS, NJ
  • OCEAN, NJ
  • PASSAIC, NJ
  • SALEM, NJ
  • SOMERSET, NJ
  • SUSSEX, NJ
  • UNION, NJ
  • WARREN, NJ

 

Farm Truck Insurance Protects All Farm Vehicles

Post Date August 12, 2013 – Although farm truck insurance is not required in many states, farmers find the need to protect their major vehicle investments. And farm truck is only one of such major investment.  These farmer vehicles do not come in cheap and farm truck insurance is important if these investments are damaged by… Continue Reading

New Jersey Drunk Driving Accident Get’s Man 7 Years

Post Date July 30, 2013 – A Middletown man charged with a New Jersey Drunk Driving Accident receives an appropriate sentence. The New Jersey drunk driving accident caused a fatal accident killing a Middletown man and injuring three others at the Garden State Parkway, New Jersey. The Drunk Driver was sentenced to 7 years imprisonment… Continue Reading

New Jersey Homeowners Grants Now Available

Post Date June 7, 2013 – New Jersey Homeowners devastated by Superstorm Sandy are now eligible for Grants to help rebuild and repair their homes. The state of New Jersey recently begun accepting grant applications for those New Jersey homeowners who were affected by the storm in 2012. The grants are intended to assist NJ homeowners… Continue Reading

NJ Homeowners Insurance Carriers Praised

Post Date  April 13, 2013 – The New Jersey Banking and Insurance Commission just praised the mortgage lending community in the state New Jersey.   The Insurance Commission has included community banks, national banks and mortgage service companies. The reason for the high praise is the unusually fast release of  NJ Homeowners insurance proceeds from… Continue Reading

Unpaid Insurance Claims In NJ – Still A Problem

Post Date February 4, 2013 – New Jersey Homeowners Insurance Company Claim Departments are still plagued with unpaid insurance claims.  Sadly; the majority of the unpaid insurance claims are from damage produced from Superstorm Sandy.  Both state officials and those customers with unpaid insurance claims would like it if the process sped up.  Aside from… Continue Reading

Fake Car Insurance Claims Filed By Creeps

Post Date January 29, 2013 – Car Insurance Companies in the state of New Jersey are very concerned over the explosion of fake car insurance claims being filed in the Garden State.  New Jersey prosecutors had a meeting recently to say no to fake car insurance claims.  These fake car insurance claims have flooded the… Continue Reading

Car Insurance Claims Are Pushing 230,000

Post Date January 22, 2012 – Super Storm Sandy is still causing havoc on the car insurance claims community. Regardless  how many wheels your vehicle had, be it a Car, truck, trailer, car insurance claims are being filed. Sandy hit the East Coast hard the last week of October.  Car insurance claims for all types of vehicles are… Continue Reading

NJ Auto Insurance Fraud If You Fib To Your Agent

Post Date January 21, 2013 – New Jersey Law Makers are pushing a new bill which would prosecute those NJ Auto Insurance Buyers  whom lie on their NJ Auto Insurance Applications.  The #1 reason NJ Auto Insurance buyers do not tell the truth to a NJ Auto Insurance Agent is to lower their Rates.  Reverse rate… Continue Reading