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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

 

New Jersey Insurance Department Holds Summit

Post Date September 24, 2012 – This week nearly two years after the bill was signed allowing New Jersey to license and regulate captive insurance carriers, the New Jersey Insurance Department held a major event on September 19, 2012 .  For those of you whom are not familiar with the term Captive Insurance, Captive Insurance is another… Continue Reading

Local Insurance Agent Answers For Missing Payments

Post Date September 18, 2012 – I don’t understand theft! People who steal are scum in my opinion.  That may be a little harsh, but it’s true.  If there are two acts I can’t stand most of all, it’s stealing and lying.  When they are perpetrated by those in any business, it’s makes me very angry.… Continue Reading

NJ Commercial Truck Insurance Pays Death Claim

Post Date September 17, 2012 –  Even though our New Jersey streets, roads and highways are primarily used by private passenger cars and SUV’s, their use by NJ commercial vehicles pay much of the annual revenue to maintain these roadways.  Sometimes when both cars and trucks occupy the same roadway space, accidents happen.  Although every… Continue Reading

What’s Not Covered By New Jersey Car Insurance

Post Date September 14, 2012 – Anyone whom follows my daily Blog knows I’m committed to a wide range of state specific auto insurance subjects including New Jersey Car Insurance stories.  Although I have Blogged about what is included in a New Jersey car insurance policy, it’s important I point out what a New Jersey Car… Continue Reading

Auto Insurance Claims: When Is An Appropriate Time To File

Post Date September 8, 2012 –  Anyone whom is either insured with us or follow my Blog know we are licensed to sell auto insurance and many other insurance products.  Although its very important we sell new auto insurance policies every day, those whom already have and auto insurance policy and have been involved in… Continue Reading

NJ Auto Insurance PIP Law Needs To Be Followed

Post Date September 6, 2012 – Anyone from the State of New Jersey’s knows how difficult is was to buy auto insurance coverage over a decade ago.  It’s been just a little over 10 years since Auto Insurance Reform finally came to the drivers of State of New Jersey.  A few weeks ago; The State… Continue Reading

Michigan Auto Insurance: What To Know About Your Car Insurance Policy

Post Date August 30, 2012 –  Anyone whom wants to register a car or light truck in the State of Michigan is required to purchase Michigan Auto Insurance.  I know my Blog Posts are not the most interesting.  Although I have outlined the auto insurance requirement in many of our US States; I really can’t… Continue Reading

NJ Auto Insurance Rates For Teen Increase After Texting Accident

Post Pate August 28, 2012 –  A New Jersey teenage driver who was texting while driving his car caused two people to suffer greatly after his negligence caused a serious at fault accident. The teenage driver whom struck and injured a couple on board their motorcycle had a multi-million dollar lawsuit filed against him and… Continue Reading

New Jersey Car Insurance Policy No No’s!

Post Date August 27,  2012 – Anyone whom follows my daily Blog knows I’m committed to a wide range of state specific auto insurance subjects including New Jersey Car Insurance stories.  Although I have Blogged about what is included in a New Jersey car insurance policy, it’s important I point out what a New Jersey… Continue Reading

New Jersey Auto Insurance Options

Post Date August 25, 2012 – New Jersey Auto Insurance Options and additional car insurance coverage can easily and inexpensively improve a standard auto insurance policy.   New Jersey Auto Insurance Options add the value other than those required by law in the state of  New Jersey.  The State of New Jersey, specifically the NJ Department… Continue Reading