The New Jersey Department of Banking and Insurance (DOBI) notes that if you (or a member of your household) have a driving record that includes motor vehicle violations, suspensions and/or at-fault accidents, the price you pay to obtain insurance might be higher.

NJ insurance companies may consider you (or a member of your household) to be a high-risk driver and charge a higher rate than a driver with a “clean” record (free of accidents and violations). Each company has underwriting guidelines to determine what type and how many accidents and violations during a specific period constitute a high-risk driver. The look back period for accidents or moving violations of each driver is usually for a period of the past three years

Each year when a policy comes up for renewal or upon the purchase of a new policy, the insurer will review a driver’s record for the preceding three-year period. Insurance eligibility points for a violation or accident are dropped when the incident falls outside the three-year “look back” period.

Your insurance thus will likely rate you with this accident on the record for the next 3 years. Individual insurance companies differ in their rating systems though so to find out for certain about your insurance provider's rating system contact your insurance agent.