Details about the crash were not immediately available from officials, but Philadelphia radio station KYW-AM quoted state police as saying the accident happened on Interstate 295 in Hamilton Township.
The limousine hit a disabled delivery truck in a southbound lane around 3 a.m., the station quoted police as saying.
The limo driver and the operator of the other car were not injured, police told the station.
The two NBC basketball announcers were taken to the Helene Fuld Medical Center in Trenton, where a nursing supervisor said both men were being evaluated and were in stable condition. The supervisor hung up without giving his name.
Fratello, who coached the NBA's Atlanta Hawks and Cleveland Cavaliers, was hired by NBC in October. He was coach of the year in 1986 with the Hawks. Albert was rehired by NBC in 1999, less than two years after he was fired over a sex scandal.