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Summary: Driving without coverage is illegal in New Jersey, when caught, you risk paying expensive fines, suspension of your drivers license and even time in jail. For residents and visitors alike, not knowing the basic things about your auto car insurance can hurt you. So if you are planning to head out to the Garden State anytime soon, read on!

Five things you need to know when getting an auto insurance policy Did you know that since 1998, New Jersey law has been requiring drivers to have at least a basic insurance policy? Driving without coverage is illegal in New Jersey, when caught, you risk paying expensive fines, suspension of your drivers license and even time in jail. For residents and visitors alike, not knowing the basic things about your auto car insurance can hurt you. So if you are planning to head out to the Garden State anytime soon, read on! New Jersey auto insurance is considered as the most expensive in the city. This is due to the fact that the state adopts a no-fault policy wherein the automobile insurance company will pay your medical bills, lost wages and damaged property regardless of who caused the accident. In1998, through the Automobile Insurance Cost Reduction Act, people can now buy the basic policy which covers $5,000 for damages and $15,000 for medical expenses for anyone who makes a claim against you. Unfortunately, the insurance company is not liable if you get into an accident with a driver who is uninsured or whose insurance has lesser coverage than yours. Now New Jersey car insurance varies not only in prices and also in coverage. Before you decide to get car insurance quotes, there are several things you will need to know. The New Jersey Banking and Insurance has prepared a guide for motorists who are renewing their insurance or are buying new insurance policies. 1. Understand your needs. If you are renting your house, or have assets to protect, then you have to consider those too. You need to check of your life insurance company covers accident-related injuries or if you will need to get a separate policy for that. Aside from this, you will of course, need to know how much insurance coverage you can afford since you will be paying premiums monthly at the least. 2. Understand your options. When shopping for auto insurance, it is important that you are familiar with the words and phrases used by insurance companies. In most cases, the terms are the same so you will need to ask your agent or you can take note of the terms you do not understand and check them out in the internet once you get home. 3. Understand consumer protections. As a consumer, you have rights such as the right to fair and equal treatment and the right to get the information you need which can help you make intelligent decisions. You need to make sure that you understand the advantages of a certain policy over the other one and you can also ask about your additional options. You have the right to purchase insurance and in cases that you are denied insurance coverage, it is important that the insurance company state a reason. The state of New Jersey provides legitimate reasons why a person is not eligible for coverage. You also need to know that you can change or cancel your insurance at any time even when your policy is not yet up for renewal. If you find more affordable car insurance in New Jersey, you can cancel your old policy and get a refund of your unused premium. 4. Knowing your obligations as a New Jersey driver. As the old adage goes "with great power comes great responsibility", as a consumer, you get a lot of rights, but you need to understand that you also have obligations to keep. In order for you to maintain your auto insurance coverage, you need to make sure that all premiums are paid for and that you abide by the rules of traffic and driving in the state.