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AUTOMOBILE INSURANCE

AUTOMOBILE INSURANCE. WHAT YOU NEED TO KNOW AS A BEGINNING DRIVER!. ARE YOU AGE 16 -25?. STATISTICS SHOW THAT TEENAGERS HAVE A GREATER CHANCE OF BECOMING INVOLVED IN AN ACCIDENT THAN DRIVERS IN ANY OTHER AGE GROUP!. WHAT’S REQUIRED IN NJ?. THERE ARE 3 TYPES. 1 YOU ARE REQUIRED TO BUY.

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AUTOMOBILE INSURANCE

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  1. AUTOMOBILE INSURANCE WHAT YOU NEED TO KNOW AS A BEGINNING DRIVER!

  2. ARE YOU AGE 16 -25? STATISTICS SHOW THAT TEENAGERS HAVE A GREATER CHANCE OF BECOMING INVOLVED IN AN ACCIDENT THAN DRIVERS IN ANY OTHER AGE GROUP!

  3. WHAT’S REQUIRED IN NJ? • THERE ARE 3 TYPES. • 1 YOU ARE REQUIRED TO BUY. • IT IS ILLEGAL TO DRIVE WITHOUT THE REQUIRED COVERAGES.

  4. LIABILITY • REQUIRED BY LAW. • REIMBURSES OTHERS FOR DAMAGES AND PAYS YOUR LEGAL DEFENSE AND SETTLEMENT COSTS IF YOU ARE FOUND RESPONSIBLE.

  5. LIABILITY (BODILY INJURY) • COVERS THOSE INJURED/KILLED FOR WHICH YOU ARE LEGALLY TO BLAME. • YOU ARE REQUIRED TO PURCHASE THE MINIMUM: • $15,000 FOR INJURIES TO ONE PERSON. • $30,000 FOR ALL INJURIES IN A SINGLE CLAIM.

  6. LIABILITY (PROPERTY DAMAGE) • PAYS TO REPAIR DAMAGE TO OTHER PEOPLES CARS/PROPERTY CAUSED BY YOUR AUTOMOBILE. • THE MINIMUM REQUIREMENT IS $5,000.

  7. 2 OPTIONAL COVERAGES • COLLISION • PAYS FOR THE COST TO REPAIR YOUR CAR IF YOU ARE AT FAULT. • INVOLVES A DEDUCTIBLE.(amount you must pay first) • MAXIMUM PAYOUT IS BASED ON “BLUE BOOK” VALUE OF THE CAR.

  8. 2 OPTIONAL COVERAGES • COMPREHENSIVE • PAYS THE COST OF REPAIRS/REPLACEMENT IF YOUR CAR IS: STOLEN VANDALIZED DAMAGED BY: FLOOD, DEBRIS, ANIMALS, NATURE. INVOLVES A DEDUCTIBLE

  9. 2 TYPES OF “RIDERS”/ ENDORSEMENTS TOWING PAYS FOR THE PARTIAL COST OF TOWING YOUR VEHICLE RENTAL REIMBURSEMENT PAYS PARTIAL COST OF RENTAL FEE IF YOUR CAR IS NOT DRIVEABLE.

  10. INSURANCE COSTS • FACTORS THAT CONTROL YOUR RATES 1. AGE 2. GENDER 3. MARITAL STATUS 4. TYPE OF CAR (MAKE, MODEL, OPTIONS, COLOR) 5. WHERE CAR IS KEPT (STREET, DRIVEWAY, GARAGE) 6. PREVIOUS DRIVING RECORD

  11. POSSIBLE DISCOUNTS • DRIVER TRAINING (BTW, DEFENSIVE DRIVING COURSE, CLASSROOM D.E.). • SAFETY EQUIPMENT (ABS, AIR BAGS, AUTO SEATBELTS, TRACTION CONTROL SYSTEMS, SAFETY BUMPERS). • ACADEMICS (HONOR ROLL, 3.0) • ANTI-THEFT DEVICES (ALARMS,TRANSMITTERS, WINDOW ETCHING) • MULTI-CAR DISCOUNTS • GOOD DRIVING RECORD

  12. OTHER TIPS • PRICE OF CAR • SHOP AROUND • TAKE HIGHER DEDUCTIBLE • DRIVE SAFE

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