The roads in New Jersey can be dangerous, just like they can anywhere else. Knowing some of the risk factors can help you make smarter decisions about when and how to drive. However, even if you do everything in your power to drive safely, you can’t control the actions (or inaction) of other people on the road. The safest driver in the world could still end up severely hurt in a collision or crash caused by another driver. It’s enough to make anyone nervous. Thankfully, insurance helps to offset some of the risk associated with a crash.
If someone causes a collision, that person’s insurance policy will cover medical costs and property damage, up to a certain limit outlined in the policy. However, many drivers on the road in New Jersey do not have an active insurance policy. Still more may not carry sufficient protection against liability. That can leave you with massive expenses related to a crash.
Uninsured motorists may leave you unprotected in a crash
While you may pay your insurance premium like clockwork, that doesn’t mean that everyone else on the road is as responsible as you are. Many people can forget to make a payment, resulting in a cancellation of the policy. Others may intentionally cancel coverage once they secure registration for the vehicle in question. Whether it’s deliberate or not, failing to have a liability policy on a vehicle creates a financial nightmare.
Your insurance company likely won’t cover any of your costs if they know they can’t recover those expenses from the other driver’s policy. That could include situations that involve an uninsured driver, as well as an underinsured driver.
New Jersey only requires $5,000 in property damage liability coverage and $15,000 per person for bodily injury liability, with a maximum as low as $30,000 per crash. It’s easy to see how those limits could be well below the amount of damages you experience in the wake of a serious accident.
Consider adding riders to your policy for added protection
There’s nothing you can do to prevent people without insurance or with poor coverage from driving on the roads. Uninsured drivers often realize that their actions violate the law, but that does not deter them. Knowing that this risk exists, however, can help you protect yourself and your loved ones from bearing the financial burden of a crash caused by an irresponsible person.
You should review your personal motor vehicle insurance policy to see what coverage, if any, you have for crashes caused by an uninsured or underinsured driver. If you don’t already have one, add a rider to protect you from financial fallout in this exact scenario. You can carefully manage the coverage so that is corresponds to the value of your vehicle and current medical costs.