Are you on Medicaid and live in New Jersey? If so, you can access the Special Auto Insurance Policy or SAIP for short. A dollar a day car insurance New Jersey is the common name of this government-backed residual coverage since it is a policy that costs about $365 per year.
When an accident occurs, the New Jersey SAIP plan will only pay for severe driver injuries. This plan will not cover bodily injuries or damage liability caused to any of the other parties involved.
The New Jersey SAIP plan does not offer its customers comprehensive protection, so the coverage is somewhat limited. However, it serves as proof of insurance in New Jersey, making those that carry it, legal drivers. Also, this $1 dollar a day auto insurance does not meet the New Jersey state minimum legal requirements for many drivers.
For many motorists, it is not adequate coverage, especially if you finance or lease a vehicle. Many lending firms that finance leased automobiles demand comprehensive, which can be a lot more costly. To compare quotes, enter your zip code to get started.
SAIP: A Program Designed for Low-Income NJ Drivers
If you have essential properties you want to insure, you own an expensive modern car or have significant assets, then you should consider buying much more protection than this. As we said before, this is a plan specially designed for low-income drivers in the state of New Jersey. They usually cannot afford it and then end-up driving illegally.
The goal of this plan is to help low-income New Jersey drivers to afford it, by making it so cheap that almost anyone can get it. Many motorists, who otherwise would not be able to afford it, now have a low-cost option that helps them get covered. National Continental Insurance Company is the principal underwriter of the program.
Dollar A Day Insurance New Jersey Requirements
To be chosen for the SAIP program, you must meet specific requirements and provide the following information:
- Valid license and registration issued by the state of New Jersey. If your license has been suspended, you will not be able to access this plan.
- Medicaid I.D. Card.
To get $1 a day auto insurance in New Jersey, you must meet two fundamental requirements:
- You cannot currently have insurance in the state of New Jersey. If you do, then you will not be allowed to access this plan.
- You must be enrolled in Medicaid, a plan that also covers hospitalization expenses. Please note that if you are no longer Medicaid for any reason, your Dollar a Day Car Insurance NJ will remain in effect only until you renew your policy. From there, you should look for suitable insurance alternatives.
What Exactly Does the NJ SAIP Plan Cover?
Remember that this type of plan only provides limited coverage, so it may not be the most suitable for your needs. This plan covers:
- Health coverage up to $250,000: It includes any assistance and treatment in a hospital emergency room, spinal cord treatment, and advanced brain treatments.
- Death payment up to $10,000: This payment would be made to your family members in case you pass away in a traffic accident. It includes any urgent situation that must be treated and is mainly targeted for funeral expenses.
What Does The New Jersey SAIP Plan Not Cover?
- Medical treatments indefinitely: If you are injured after a traffic accident, but your injuries are not related to the spinal cord or brain, this plan will not cover you at all. In the United States, many people file for bankruptcy protection each year due to medical bills they cannot pay. Insurance coverage like this, which has a lot of limitations, can cause someone to get caught in a medical bill limbo. On the other hand, with Medicaid, you will be able to access other health benefits and payments, but you will be facing a difficult situation completely alone.
- Any legal situation that generates costs after a traffic accident
- Damage to other people’s property if you are ruled at fault for a car accident.
- Any damage you cause to your property. It doesn’t matter if you were at fault for the auto accident or not.
Basic Car Insurance In New Jersey
It is highly recommended to have a much more complete coverage than SAIP because of the liability risks involved. Even low-income people, for whom this plan is primarily intended, should seek more coverage, with greater overall protection.
It is true that for only $ 30 a month, it is the cheapest New Jersey plan. This low monthly rate can be tempting for many lower-income drivers in NJ, but its protection is insufficient. If you get into a serious car accident, you could be on the hook for thousands in damages.
SAIP also does not analyze other characteristics of the driver, such as the driving record, which could result in more significant benefits for the client. Before deciding, always try to assess the points for and against $1 a day car insurance New Jersey.
NJ basic auto insurance for responsible drivers costs under $100 per month and offers added protection. This will give you greater peace of mind. Many New Jersey drivers could purchase basic protection policy, with higher limits and coverage, for between $80 and $98 a month. In this case, if you are at fault for an accident, the coverage provided for this kind of policy will be much better.
In the case of having several cars that you want to insure, a SAIP policy will only cover one. This is something else that can make many people decide on not getting this type of policy. It just has too many limitations for most drivers.
How can I get One Dollar a Day Car Insurance in New Jersey?
NJ – SAIP auto insurance is available to all New Jersey residents. You can easily get it from many qualified insurance agents throughout the state. Just contact a local agent or broker, and they can assist you.
Comparison Shop Cheap New Jersey Auto Insurance Quotes
If you are looking for a Dollar a day auto insurance in New Jersey, check the rates of the different providers first. You can find much better coverage for only a few dollars more per month. Check rates from both national and regional insurance companies in NJ.
To get a free quote now and check the best NJ rates, start by entering your zip code. You can save hundreds by buying a direct policy. Get more coverage for less today.