What is the minimum required insurance coverage in New Jersey?

In New Jersey, the minimum required insurance coverage mandates that drivers have liability insurance that includes specific amounts for bodily injury and property damage. The correct answer outlines that drivers must have coverage of at least $15,000 for bodily injury per person, $30,000 for bodily injury per accident, and $5,000 for property damage.

This structure is designed to ensure that injured parties have access to compensation for medical expenses, lost wages, and other damages resulting from an accident. Having a minimum level of coverage protects both the driver and other individuals who may be involved in a crash. This requirement reflects New Jersey's commitment to maintaining a safety net for victims of traffic accidents and helps drivers avoid severe financial consequences in the event of an accident.

The other options do not meet the specific combinations or minimum financial amounts set by New Jersey law, making them unsuitable as correct answers. Understanding the minimum requirements is crucial for any driver operating a vehicle in the state, ensuring compliance and protection for all parties on the road.