A 3421
Establishes "Car Insurance Reduction Act"; modifies current law addressing requirements of automobile insurers for underwriting; rate calculations and reductions; and reporting requirements to State.
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill, the "Car Insurance Reduction Act," aims to lower car insurance rates in New Jersey by modifying how insurers determine premiums. It restricts insurers from using factors like credit history or occupation in underwriting rules and requires them to provide detailed explanations of their rating plans to policyholders. The bill also mandates premium reductions for safe driving behavior and requires insurers to share data with state agencies to combat insurance fraud.
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.