auto insurance premium News

N.J. Gov. Signs Electronic Proof of Auto Insurance, Reverse Rate Evasion Bills

New Jersey Gov. Chris Christie signed into law on Thursday A-3905/S-2680, which authorizes motor vehicle operators to display proof of auto insurance in either the physical format (a paper insurance card provided by their insurance carrier) or the electronic format …

NAIC Report: New Jersey Tops Nation in Auto Insurance Rates

An annual industry report shows New Jersey has the costliest auto insurance rates in the nation. The National Association of Insurance Commissioners says New Jersey motorists paid an average of $1,220 in 2012. That’s about 49 percent more than the …

N.J. Senate OKs Electronic Proof of Insurance, Reverse Rate Evasion Bills

New Jersey’s state Senate on March 16 passed a bill (A-3905) that would allow motorists to display proof of auto insurance in either physical or electronic format. The bill was previously approved by the state Assembly and now heads to …

Mass. Auto Insurance Rates Climb Back Up Despite Deregulation

Auto insurance rates that fell sharply after deregulation in Massachusetts are climbing again. The Boston Globe reports that five years after Massachusetts began to allow insurers to set their own rates, the average premium was about the same as it …

Consumer Group Recommends Ways to Mitigate Uninsured Motorists Dilemma

Most uninsured motorists in the U.S. are responsible, safe drivers who simply cannot afford to purchase liability coverage with their income but who still need to drive for their work, according to a consumer advocacy group. The Consumer Federation of …

Insurers Say Latest CFA Study Is Flawed; Marketplace Is Highly Competitive

The new auto insurance pricing study from the Consumer Federation of America (CFA) is getting roundly criticized by insurance industry representatives. The representatives say that states’ auto insurance marketplaces are highly competitive, with most drivers having dozens of auto insurers …

CFA Report: Largest Auto Insurers Often Charge Higher Premiums to Safe Drivers

In its latest report on auto insurance premiums charged by the largest auto insurers, the Consumer Federation of America said these insurers frequently charge higher premiums to safe drivers than to those who recently caused an accident. In two-thirds of …