Dollar-a-Day Car Insurance
New Jersey drivers enrolled in Medicaid with hospitalization may qualify for dollar-a-day insurance. Drivers must also have a valid driver’s license and not have other car insurance to qualify. While dollar car insurance is very cheap, it doesn’t meet state minimum requirements and only covers brain and spinal injuries up to $250,000.
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UPDATED: Jul 16, 2021
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- Dollar-a-day insurance is only available in New Jersey
- Only drivers with Medicaid with hospitalization are eligible
- Dollar-a-day car insurance offers very limited coverage and doesn’t meet the NJ state minimums
Dollar-a-day insurance refers to a program offered in New Jersey that provides very limited car insurance coverage for just $365 a year. However, it doesn’t meet the state minimum for car insurance coverage.
Drivers have to meet certain criteria in order to qualify for this program, and it might not be a great fit for every driver since the coverage is so limited.
Shop around before you buy dollar-a-day car insurance to see if you can get more coverage at a great rate. Enter your ZIP code now to compare car insurance quotes from companies near you for free.
What is dollar-a-day insurance?
Dollar-a-day car insurance rates are just like it sounds. It refers to the Special Automobile Insurance Policy (SAIP) offered by New Jersey for drivers who qualify.
SAIP provides drivers with very basic automobile insurance, covering only emergency care for brain and spinal cord injuries up to $250,000 in the event of a car accident. There’s also a $10,000 death benefit.
It’s important to note that this coverage does not meet the New Jersey state minimum requirements and provides no liability car insurance coverage. This means that if you cause a wreck, you will be financially responsible for all damages.
There is no need to get a dollar-a-day car insurance quote. SAIP is just $365 a year if you make two payments, or $360 a year if you pay in advance.
Even though all policies are only written by the National Continental Insurance company, you can find many dollar-a-day car insurance companies that offer the coverage.
However, if you are looking for dollar-a-day insurance in PA, you are out of luck. You can’t get dollar-a-day insurance in Florida, Pennsylvania, or any other state besides New Jersey.
Even though dollar car insurance sounds like a good idea for your wallet, there are other ways to find cheap insurance that will give you more coverage.
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Who qualifies for dollar-a-day insurance?
New Jersey drivers have to meet certain requirements to enroll in SAIP. In order to qualify for this coverage, you must:
- Not have car insurance with any other provider
- Be enrolled in Medicaid with hospitalization
- Have a valid driver’s license that isn’t suspended or revoked
You will need to provide your driver’s license, car registration, and Medicaid identification card.
You can call 1-800-652-2471 to see if you qualify or if you have questions about SAIP.
Once you are enrolled in SAIP and then lose your Medicaid with hospitalization coverage, the car insurance will stay in effect until your renewal.
Dollar-a-Day Insurance: The Bottom Line
Drivers who qualify for SAIP can get affordable dollar-a-day car insurance in New Jersey for just $365 a year. However, only specific types of bodily injuries are covered, and property damage is not.
Although dollar-a-day insurance is very cheap, it might not give you the coverage you need. Enter your ZIP code to compare car insurance rates from multiple companies for free.