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Retcho Agency Inc

308 Harrington Ave,
Closter, NJ 07624

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Auto Insurance

Auto Insurance in New Jersey

Retcho Insurance Agency, Closter New Jersey

car insurance new jerseyWhether you're new to New Jersey or you've lived in the Garden State for a while, after buying a car, next comes thinking of what car insurance coverage is right for you. There are always those questions about what auto policy I should purchase or what is required of me or do I even need insurance in NJ(in state of New Jersey, car insurance is mandatory)? This is why having the right auto insurance agency is crucial. Without the proper knowledge, it is easy to make mistakes that will cost you down the line. We at Retcho Insurance Agency in Closter NJ, we want to ensure you do not make such mistakes and avoid losing your assets. Our insurance agents with their decades of experience have many ways to help you save money and lots of helpful information for New Jersey drivers just like you. If you have a classic vehicle, you will need classic car insurance and if you will be using your vehicle for business use, you will need commercial auto insurance. Before purchasing auto insurance in Closter or New Jersey in general, here are some things you need to consider. 

The Coverage You Need

car insurance agent closterThere are various types of auto coverages, such as bodily injury liability, property damage liability, comprehensive, collision, etc. Because insurance depends on many variables, you cannot buy a policy similar to your friend’s without thinking about your needs. You have to factor in how much risk you are exposed to. For example, if you are getting an automobile for your teenager, your insurance needs will not be the same as for someone that has been on the road for many years. Once you better understand your risks, you will make better informed choices on the insurance coverage to get. This is why having an experienced insurance agent is necessary. Here are some examples of auto insurance coverages in New Jersey:

Liability (BI or Bodily Injury)
Pays for damages to others caused by you as a result of an auto accident. Lawyer to defend you if you are sued for damages are also part of the coverage.

Personal Injury Protection (PIP)
Provides coverage for the medical expenses you or anyone covered by your policy incur as a result of an auto accident. In the state of New Jersey(No fault State), regardless of fault of the auto accident, the medical coverage is provided by your own auto insurance carrier.

car insurance policy closter njUnderinsured and Uninsured Motorist
Pays to compensate you if you are injured and/or your vehicle is damaged in an accident caused by a motorist with too little or no auto liability insurance coverage.

Comprehensive (Other than Collision)
Pays for damage to your vehicle that is not the result of a collision with another car or object minus your deductible. Causes of damage might include theft, vandalism, flooding, fire, windshield, collision with an animal, falling/flying objects, act of nature or act of god.

Collision
Pays for damage to your vehicle resulting from your vehicle's impact with another vehicle or object minus your deductible.

No one wants to be in an accident, but if you ever am involved with an auto accident, and have a question, you can always call our insurance agents and/or contact your carrier. Here is a helpful claim article in the event of an accident.

Full Tort vs Limited Tort (Threshold)

You can choose between carrying full or limited tort in New Jersey. No matter how serious your injuries are, Full Tort still gives you the option to bring a lawsuit against the at-fault party for pain and suffering. Because you agree to restrict your capacity to bring a lawsuit for pain and suffering unless you suffer a catastrophic damage, limited tort is a far less expensive choice. Majority of policy holders carry or opt for the limited tort for the savings.

Law Requirement

auto insurance law closter njAnother factor to consider is what New Jersey laws state regarding car insurance. Currently, car owners must have auto insurance to help cover any losses that a third party may incur if you cause an accident with your vehicle.

Per New Jersey Motor Vehicle Commission, all vehicles in NJ must carry Liability insurance, Personal Injury Protection (PIP), and Uninsured/Underinsured Motorist Coverage.  All drivers in New Jersey must provide proof of insurance when operating any vehicle.  Following are the minimum coverage requirement in the state of New Jersey.

  • Bodily Injury Liability Coverage: $15,000 per person and $30,000 per accident
  • Property Damage Liability Coverage: $5,000 per accident
  • Personal Injury Protection (PIP): $15,000
  • Uninsured/Underinsured Motorist Bodily Injury Coverage: $15,000 per person and $30,000 per accident
  • Uninsured/Underinsured Motorist Property Damage Coverage: $5,000 per accident with a $500 deductible

*Be advised that the above is the bare minimum standard auto insurance requirement. As the cost of living in New Jersey is much higher than some other states, we strongly recommend higher limits to better cover your needs. Contact Retcho insurance agency in Closter today.  

**Be advised there are coverages lower than the standard insurance policies that are accepted by the state of New Jersey. Click on the links if you would like to learn more about the Basic Auto Insurance Policy or Special Auto Insurance Policy(SAIP) for drivers with a Medicaid card. (We strongly do not recommend these polices as they provide little to no coverage)

Your Budget

auto insurance closter njLet's be realistic, another important thing when getting insurance is your budget and cost. While you do not want to be under insured for your vehicles, you also do not want to be over insured. To get the proper estimate you can afford for your auto coverage in NJ, think of your daily expenses such as the mortgage/rent, tuition, childcare, and utilities. You do not want to run into financial troubles later because you chose coverage beyond your budget. Also remember that you save more when you bundle with home insurance, condo insurance or renter's insurance.

 

For further assistance in choosing the right auto insurance coverage for you and your vehicle, contact us at Retcho Insurance Agency at Closter, New Jersey. Our Closter insurance agents will work with you and ensure you make informed choices that will protect you and your vehicle. Call our insurance agents in Closter NJ today and get your auto insurance the right way. You can also use our 3 minute quoting platform to get your estimate.

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