In 1972, the State of New Jersey adopted a comprehensive system of automobile insurance laws that were designed to ensure that persons injured in automobile accidents were compensated fairly and that financially responsible persons were available to pay their claims. The Compulsory Insurance Law requires the owner of every automobile registered in this state to maintain minimum liability insurance coverage of $15,000 per person and $30,000 per accident. N.J.S.A. 39:6A-3. The Uninsured Motorist Law requires every motor vehicle liability policy to include uninsured motorist coverage in the amount of $15,000/$30,000. N.J.S.A. 17:28-1.1.
The New Jersey Automobile Reparation Reform Act (known as the No Fault Act) provides that every standard automobile liability insurance policy shall contain personal injury protection (PIP)benefits (for the payment of benefits without regard to fault) including medical expense benefits of $250,000; income continuation benefits of $5,200; essential services benefits of $4,380; death benefits; and funeral expense benefits of $1,000. N.J.S.A. 39:6A-4.
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