When shopping for car insurance, many people simply try to pay the lowest premium possible. However, it might not be in your best interest to leave out essential insurance benefits just to get a low price. If you only have the required insurance, there could be large gaps in your coverage. New Jersey car insurance requires standard liability coverage, but you don’t have to get additional coverage unless you want to. When you take out a car loan, the bank might require that you get collision and comprehensive coverage. Collision coverage will pay for any damages to your vehicle in the event of an accident. Here are some other essential coverage types from https://newjersey-insurance.net/auto-insurance-nj/ that you should consider when purchasing New Jersey car insurance.
Uninsured Motorist New Jersey Car Insurance
When you get into an accident with an uninsured motorist, there’s a good chance that the cost to repair your vehicle will not be covered by your standard policy. It’s always a good idea to get uninsured motorist insurance to cover the cost of repairing your vehicle if an uninsured motorist is responsible for the accident.
Along with uninsured motorist coverage, you should consider adding on an underinsured motorist plan. This coverage applies if you get into an accident with someone who doesn’t have enough insurance to cover the cost of paying your medical bills. This doesn’t cover the cost of repairing your vehicle, because this is usually be covered by standard liability insurance. Uninsured and underinsured motorist plans are usually bundled together by the insurance company. It’s an excellent option if you live in Southern New Jersey where you’re more likely to get into an accident with someone who does not have insurance or any legal identification.
Rental and Towing Coverage
If you get into an accident, it can be a while before your vehicle is in working condition again. Rental benefits will cover the cost of hiring a vehicle until you get your own car back from the mechanic. If your car is considered a total loss, the company will replace it with a vehicle of equal or lesser value. The value of your vehicle depends on your type of plan, and whether the cost is estimated at its actual cash value or replacement value.
Another part of your coverage that’s often overlooked is towing expenses. Towing expenses can add up quickly, especially if you need to pay for multiple disabled vehicles to be removed from the road. Labor costs when moving your vehicle are especially high if you live in a large city or populous area. Towing coverage is usually bundled with comprehensive coverage, which is always an excellent option.