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Types Of NJ Auto Insurance Coverage
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New Jersey Auto Insurance Buyers Guide
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You may be able to save money on New Jersey auto insurance by
opting to have your health coverage provide benefits for injuries from an
automobile accident. Please consider the factors below to see if New Jersey
Personal Injury Protection is right for you. |
- HEALTH CARE PRIMARY — Cost savings can also be achieved by
using your own health insurance as a primary source of coverage in the case
of injury related to an auto accident. Before selecting this option, you should
find out if your health insurance will cover auto accident injuries and how
much coverage is provided. MEDICARE and MEDICAID do not offer the Health Care
Primary option, but may provide coverage on a secondary basis, such as when the
costs of your care exceed the New Jersey PIP limits in your auto policy.
Health coverage may be issued by an insurance company, an HMO or a self-funded
plan. Since self-funded plans and plans issued out of state may exclude coverage
for injuries resulting from auto accidents, you should make sure that your
health coverage will provide benefits for automobile accident injuries. If you
are covered by any of the insurers or HMO listed here, you may be eligible for
this cost-saving option. Other insurers and self-funded plans might also cover
automobile accident injuries. Contact your employee benefits department to
determine if your health coverage provides benefits for automobile accident
injuries.
- DEDUCTIBLE OPTIONS — In addition to any savings you may realize from how
much coverage you buy, deductibles also provide savings opportunities. Cost
savings can be achieved by choosing higher deductibles. Thus, if you feel you
need a high level of PIP coverage but want to reduce your premium, you can save
money by agreeing to pay more out-of-pocket through a higher deductible if you
are injured in an auto accident. Your insurer will pay the medical bills over
the deductible amount you choose. In addition, there is a 20 percent copayment
on medical expenses in excess of the deductible, up to $5,000. That means you
pay 20 percent, and your insurer pays 80 percent, after you pay the deductible.
- EXTRA NEW JERSEY PIP PACKAGE COVERAGE — These are additional benefit
options provided under the STANDARD NEW JERSEY AUTO INSURANCE POLICY:
- INCOME CONTINUATION — If you cannot work due to accident-related injuries,
this coverage pays lost wages, less Temporary Disability Benefits you may
receive if your disability prevents you from working, up to the amount you
select.
- ESSENTIAL SERVICES — Pays for necessary services that you normally do
yourself, such as cleaning your house, mowing your lawn, shoveling snow or doing
laundry if you are injured in an auto accident.
- DEATH BENEFIT — In the case of death, family members or estates will
receive any benefits not already collected under the income continuation and
essential services coverages.
- FUNERAL EXPENSE BENEFIT — Pays for reasonable funeral expenses up to the
limit you select if you die as a result of an auto accident.
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