Did you know that Insurance companies/agents in NJ must give you three coverage scenarios when buying a new policy, or upon request it if you’re already insured? You will be told how each choice may affect your premiums and your benefits in the event of an accident.
You can also shop your policy anytime. Not just when your policy is renewing. If you find a cheaper premium and better coverage, you can cancel your current more expensive policy in favor of the new policy. However, before cancelling, give your current carrier the ability to match the new premium and coverage before switchcing. They may value your business and meet the revised terms and premium.
You can also modify your coverage and limits any time throughout the policy term (not just at renewal), and, by law, you should get your return premium if owed within 60 days of the premium change.
Did you know that you might save money by using your health insurance company as your first responding source of coverage in case of an injury as a result of an auto accident? Before you chose this option, check with your health insurance to find out if your carrier will do this and how they will respond and the limits. (FYI, Medicare and Medicaid do not provide primary coverage, but may be a secondary coverage provider in the event you exhaust certain limits on your auto policy).
Did you know that in NJ, there is a standard policy which provides all of the coverage required by law, but offers additional protection, and a basic policy, which costs much less than the standard policy? It meets the minimum requirements as required by NJ law. Be careful. You get what you pay for.
There’s a lot of information that will help you in cut your car insurance costs in NJ Visit the NJ State Department of Insurance for mandates, rules and advice.