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Top 5 insurance companies in 2017 explained

We conducted a study of auto insurance quotes in New Jersey across nine companies to find the cheapest car insurers. Because of this wide range, we recommend you compare multiple companies by entering your ZIP code into our quote tool above. Auto insurance is required in New Jersey ; however, drivers will have the choice of either purchasing a basic or standard policy. The minimum amount of insurance that New Jersey drivers need depends on which coverage option they choose. A basic policy will be cheaper than a standard policy. However, it will also include less coverage. Below, we break down the minimum requirements for each policy type.

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Things first auto insurance 43r minds think alike

What is Commercial Auto Insurance?

After Hours? Typically, car insurance companies will reimburse you for the cash value of your car up until the date of the accident. However, new cars can depreciate very quickly, so if you are involved in an accident shortly after the purchase of your car, the amount paid to you will be based on the depreciated value of your car, which can be significantly less than what you paid for it. In order to protect your investment, it is a good idea to obtain replacement cost coverage on your vehicle. With SEF 43R coverage, your insurance company will provide the replacement cost of your vehicle, for anywhere from 3 to 5 years, if you have suffered an insured loss. With this coverage, losses are paid to you without taking depreciation into account. SEF 43R coverage is only available if you recently purchased your vehicle from a dealership brand new, so if you purchased your vehicle used, this coverage option is not available to you.

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