Why is NJ insurance premiums the highest in the nation ?. Population, high car density, labor costs, lawsuits, car theft. How do insurance companies determine your premium ?. Type of coverage Amount of coverage Driving experience Type of car Where you live Where you drive
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Why is NJ insurance premiums the highest in the nation?
Population, high car density, labor costs, lawsuits, car theft
Possessions (House, cars, boat, savings, stock, bonds….)
This is part of your collision coverage or PIP.
You are in an accident where you hit another car with 3 people in it. One person has medical bills of $20,000. The other two people have medical expenses of $8,000 and $2,000. The car had $4,000 worth of damage and you also hit a fence that cost $2,000 to replace.