The minimum is $15,000, which is not a lot. Insurance companies prefer that drivers buy the minimum insurance required by law because if someone only has the minimum and hurts someone, that’s all the insurance company is required to pay. Less out of pocket for the insurance companies.
Insurance premiums in New Jersey are not cheap and there’s a significant percentage of the New Jersey population who drive with minimal coverage. Minimal coverage doesn’t come close to compensating most injury victims of care accidents.
Knowing that many drivers are on the road with only $15,000 of auto insurance, we need to consider what kind of insurance we should have to protect ourselves.
You’ve got to be very proactive in getting the best insurance you can for yourself because you never know what’s going to happen to you on the road on any given day. We always advise people to get as high a level of uninsured/under-insured coverage as you possibly can – as high as you can afford and as high as the insurance company is willing to offer. There are so many people out there with minimal insurance and, in fact, no insurance at all.