New Jersey Insurance Regulations

Overview

New Jersey Department of Banking and Insurance oversees one of the most complex auto insurance systems. As a choice no-fault state, drivers select between the verbal threshold (limited lawsuit option) and zero threshold (full lawsuit option), significantly impacting their claim rights.

Key Insurance Regulations in New Jersey

• Choice no-fault state — verbal threshold or zero threshold options
• Modified comparative fault — barred at 51% or more fault for tort claims
• 2-year statute of limitations for personal injury; 6 years for vehicle property damage (N.J.S.A. 2A:14-1(a))
• Mandatory auto insurance: 15/30/5 minimum liability with PIP

Filing an Insurance Complaint in New Jersey

If you believe your insurance company has acted unfairly or violated New Jersey insurance laws, you can file a complaint with the New Jersey Department of Banking and Insurance. The department investigates consumer complaints and can take enforcement action against insurers that violate state regulations.

Before filing a complaint, make sure you have documented all communication with your insurance company, including claim numbers, dates, and the names of representatives you've spoken with. The New Jersey Department of Banking and Insurance typically responds to complaints within 30 days.