The state of New Jersey adopted a comprehensive system of statutes in 1972 in order to insure that “persons injured in motor vehicle accidents are compensated promptly” and to insure that there are “financially responsible” persons available to meet these claims. Craig & Pomeroy, New Jersey Auto Insurance Law, Section 1.1 (GANN 2014). The triple pillars of the system are the Compulsory Insurance Law, the Automobile Reparation Reform Act (No Fault) and the Uninsured Motorist Act.
Compulsory Liability Insurance
First, the Compulsory Insurance law provides that every owner of a motor vehicle in New Jersey shall maintain motor vehicle liability insurance coverage for bodily injury sustained by any person arising from the operation of a motor vehicle. The coverage shall be at least $15,000 for one person and $30,000 for more than one person in any one accident. N.J.S.A. 39:6B-1. See N.J.S.A 39:6A-3 for the “standard” automobile insurance policy.
No Fault Act
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