A Capehart Scatchard Blog

New Jersey Enacts New Automobile Insurance Law Raising Minimum Amounts of Liability Insurance Required

By on August 19, 2022 in Insurance with 0 Comments

Just signed into law on August 5, 2022, by Governor Murphy, is a new law raising the minimum policy amounts of automobile insurance that must be provided for automobiles registered or principally garaged in the State of New Jersey. Previously, the minimum automobile insurance policy limit for a policy of insurance (except for a basic policy), was $15,000. Depending on when the policy renews, the new limits increase up to $35,000 for injury or death to one person and $70,000 as an aggregate limit, if more than one person is injured in the accident.

For plans that renew prior to January 1, 2023, the minimum amount remains $15,000 for injury or death of one person and $30,000 for injury or death of more than one person. For plans issued or renewed on or after January 1, 2023, but prior to January 1, 2026, the minimum policy limits will increase to $25,000 for an injury or death of one person and $50,000 for more than one person. Finally, for plans that are issued or renewed on or after January 1, 2026, the minimum policy limits increase further to $35,000 for an injury or death of one person and $70,000 for more than one person.

Minimum policy limits for property damage coverage from an automobile accident will rise from $5,000 to $25,000 as of January 1, 2023.

These same minimum policy limits apply to uninsured/underinsured coverage as well.

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About the Author

About the Author:

Ms. Ramos is an Executive Committee Member and Co-Chair of the Litigation Department at Capehart Scatchard, P.A. located in Mount Laurel, New Jersey. She is an experienced litigator with over 30 years experience handling diverse matters. Practice areas include tort defense, business litigation, estate litigation, tort claims and civil rights defense, construction litigation, insurance coverage, employment litigation, shareholder disputes, and general litigation.

For the years 2020-2023, Ms. Ramos was selected for inclusion in The Best Lawyers in America© in the practice area of Litigation - Insurance. The attorneys on this list are selected based upon the consensus opinion of leading lawyers about the professional abilities of their colleagues within the same geographical area and legal practice area. A complete description of The Best Lawyers in America© methodology can be viewed via their website at: https://www.bestlawyers.com/methodology.

In 2021, Capehart Scatchard and Ms. Ramos received the “Best Law Firm” ranking in the area of Litigation – Insurance (Metro, Tier 3) published by U.S. News & World Report and Best Lawyers®. Law firms included on the list are recognized for professional excellence with consistently impressive ratings from clients and peers. To be eligible for a ranking, a firm must have at least one attorney who has been included in the current edition of Best Lawyers in America, which recognizes the top five percent of practicing lawyers in the United States. Betsy Ramos (Litigation – Insurance) was recognized for this prestigious award in the 2021 edition. For a description of the “Best Law Firm” selection methodology please visit: https://bestlawfirms.usnews.com/methodology.aspx.

“Best Law Firms” is published by Best Lawyers in partnership with U.S. News & World Report. For a description of the selection methodology please visit: https://bestlawfirms.usnews.com/methodology.aspx.

*No aspect of this advertisement has been submitted to or approved by the Supreme Court of New Jersey.

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