With a median income of $71,000, New Jersey residents have more money than the average seen in most other states. Along with paying for day-to-day necessities, this money also goes towards providing a greater degree of security in the future through the use of insurance. With countless forms of New Jersey insurance to choose from at newjersey-insurance.net, let’s quickly go through a list of the top three forms of insurance in the state based on the number of individuals who get that kind of insurance.
With the individual mandate in the Affordable Care Act, every person is required to have some form of insurance or otherwise pay to be exempt. This means that the vast majority of New Jersey residents will have some form of health insurance. With the rising bills associated with medical costs, it has never been more important to be covered by some form of health insurance. Limiting the cost of a doctor’s visit to the premium, individuals will often save hundreds to thousands of dollars thanks to their insurance. Thanks to Medicare, Medicaid, the state/federal exchange, and employee provided health insurance, it has never been easier to find some kind of coverage depending on your needs.
New Jersey is situated between several dense urban centers. In addition, cities like Trenton help to increase the congestion as interstate and within state traffic clog the highways. Driving in the state of New Jersey as a New Jersey resident requires car insurance on your vehicle. With so many people driving to get around, it is no wonder that car insurance is the second most popular form of insurance in the state. With a final cost associated with your age, sex, driving history, vehicle, and level of coverage New Jersey is on the more expensive side when it comes to car insurance.
New Jersey has roughly 3 millions households in the state. This means a great deal of single-family homes, filled with individuals who are looking to protect their financial investment. Making this possible is homeowners insurance. While not strictly required by law, many mortgages will require some form of homeowners insurance in order to qualify for the mortgage. In addition, given the financial value of your house, having homeowners insurance is generally considered a wise move. What kind of coverage you decide on will depend on your needs and the potential threats to your home.