When it comes to car insurance, the three numbers that you often see - $15000, $30000 and $5000 - refer to the amount of liability coverage you have. Liability coverage is the part of car insurance that pays for the injuries or damage you cause in an at-fault accident. It's essential to have enough coverage to protect your assets in case you're responsible for an accident. The first number, $15000, is your bodily injury liability limit.
This is the maximum amount your insurance company will pay for any one person's injuries in an accident that you cause. The second number, $30000, is your bodily injury liability limit per accident. This is the maximum amount your insurance company will pay for all injuries in an accident that you cause. The third number, $5000, is your property damage liability limit. This is the maximum amount your insurance company will pay for any property damage caused by an accident that you cause.
It's possible to cause tens or even hundreds of thousands of dollars in damage in a car accident, so it's important to have enough coverage to protect yourself. In addition to liability coverage, there are other types of car insurance that can help safeguard you and your vehicle. Nationwide roadside assistance coverage is available in two different levels - Basic and Plus - so you can choose the one that best fits your budget. This optional coverage pays the difference between what you owe for your vehicle and its value. Rideshare coverage covers the gaps between your personal insurance and any other insurance offered by the rideshare company so that you're always protected. Not having car insurance in many states can make you a high-risk driver when buying car insurance.
If you don't have insurance and are involved in an accident, you must pay out of pocket for the damages, and depending on the severity of the accident, the costs can be very high. It's important to learn about your coverage options so you can choose the car insurance in New Jersey that best fits your needs, goals and budget.