The New Jersey insurance statutes require every motor vehicle liability policy to provide uninsured motorist coverage of $15,000 per person and $30,000 per accident. In addition, the law requires every insurer to offer the named insured the option to purchase uninsured and underinsured coverage up to $250,000/$500,000 split limits or $500,000 single limit (not to exceed the policy’s liability limits).
The insurance statutes do not provide a remedy if there is a dispute between the insurer and the insured with respect to the entitlement to recovery (liability) or to the amount of recovery (damages). However, every policy provides a mechanism for the resolution of disputes by either arbitration followed by a right to trial by jury, or solely by the right to jury trial. In either event, it is the responsibility of the claimant to file a lawsuit in the Superior Court of New Jersey against the UIM carrier.
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