Prohibits insurers from using credit history when evaluating homeowners insurance policies.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill prohibits New Jersey insurers from using an applicant’s or policyholder’s credit history to determine homeowners insurance premiums or related factors like discounts, rating tiers, or payment plans. Currently, insurers often use credit-based insurance scores, which are derived from credit history, to assess risk and set premiums. The goal of this legislation is to ensure fairer access to homeowners insurance by removing this practice. The law will take effect 90 days after it is enacted.
Bill text
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Document of record
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Sponsors
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2 on record
Primary sponsors
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