New Jersey Insurance Requirements & Rates

New Jersey requires minimum liability coverage of 15/30/5 (bodily injury per person / per accident / property damage). New Jersey is a choice no-fault state, giving drivers the option to choose between at-fault and no-fault coverage. Uninsured motorist coverage is required. Personal injury protection (PIP) is also required.

New Jersey homeowners face risks from hurricanes, flooding, nor'easters, severe thunderstorms. The flood risk level is high and earthquake risk is low. Standard deductibles apply. The average annual home insurance premium is $1,457.

New Jersey requires all motorcycle riders to wear helmets. Lane splitting is not legal. Eye protection is required for all riders. The riding season is april–october.

Yes, workers' compensation insurance is required in New Jersey. Sole proprietors with no employees may opt out. New Jersey has approximately 900,000 small businesses, with top industries including Pharmaceuticals, Finance, Healthcare.

Yes, New Jersey has expanded Medicaid. The state has its own state-based health insurance marketplace at https://www.getcovered.nj.gov. The uninsured rate is 7.5%.

Yes, landlords in New Jersey can require tenants to carry renters insurance as a condition of the lease. About 36% of New Jersey residents are renters, with average monthly rent of $1,530.

With a median household income of $89,296, most New Jersey families should consider 10-12x their annual income in life insurance coverage. Currently, 56% of New Jersey households have life insurance.