New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 3 - AUTOMOBILE INSURANCE
Subchapter 1 - COMMERCIAL AUTOMOBILE INSURANCE PLAN
Section 11:3-1.8 - PAIP coverage

Universal Citation: NJ Admin Code 11:3-1.8

Current through Register Vol. 56, No. 24, December 18, 2024

(a) PAIP shall provide to PAIP qualified applicants bodily injury liability, property damage liability, personal injury protection, uninsured/underinsured motorists, and physical damage coverages at the minimum levels required by law, including all options related thereto.

(b) PAIP shall provide a variety of increased limits for the above coverages up to the following:

1. $ 250,000 per person/$ 500,000 per accident for bodily injury liability coverage, and $ 100,000 for property damage liability coverage, or a combined single limit of $ 500,000 for bodily injury liability and property damage liability coverage;

2. $ 250,000 per person/$ 500,000 per accident for uninsured/underinsured motorists bodily injury liability coverage and $ 100,000 for uninsured/underinsured motorists property damage liability coverage, or a combined single limit of $ 500,000 for uninsured/underinsured bodily injury liability and property damage liability coverages.

(c) The PAIP shall provide additional personal injury protection coverages as set forth in N.J.S.A. 39:6A-10.

(d) The PAIP shall provide physical damage coverages with no less than the minimum deductibles required pursuant to N.J.S.A. 17:29A-39. PAIP shall offer higher deductibles as provided by N.J.A.C. 11:3-13.3.

1. All physical damage coverages shall be on an "actual cash value" basis, less deductible, subject to a maximum loss payable of $ 60,000, or such amount at which physical damage coverage may be placed in the surplus lines market as set forth on the exportable list promulgated by the Commissioner pursuant to N.J.S.A. 17:22-6.43.

2. For purposes of this section, "actual cash value" means the replacement cost of the automobile, less physical depreciation.

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