NJ car insurance rates will rise if Murphy signs bill to increase mandatory minimum coverage

[Northeast Agent]

NJ car insurance rates will rise if Murphy signs bill to increase mandatory minimum coverage

This legislation increases the required mandatory minimum for certain liability insurance from $15,000 to $25,000. Bill sponsor Senate President Nick Scutari Senate said New Jersey has the lowest minimum coverage in the nation. He is an attorney who has worked on insurance cases, and he says this increase in liability coverage is needed to protect people from themselves.

 

[adjusterjack]

He is an attorney who has worked on insurance cases,

He wants to make more money available to lawyers in personal injury claims.

 

[Al3x Lee]

He wants to make more money available to lawyers in personal injury claims.

I mean... the $15K/30K/5K limits NJ requires is nothing. Hell, you run into a used Toyota and your limits are exhausted. Also have you ever seen NJ drivers? Absolute mad men

 

[Policy Monkey]

15/30 is not the lowest in the nation. Florida's BI minimum is only 10/20. And BI isn't technically even required. The bare minimum to keep a car on the road is only $10k PIP and $10k PD.

 

[whatyouwantfinally]

He wants to make more money available to lawyers in personal injury claims.

Considering they only get 1/3, that's fine.