auto insurance comparison state
Is auto-insurance in NJ similar to healthcare?
I live in NJ; about 10 years ago auto insurance was prohibitively expensive in this state, and there were very few options. I would hear ads for Geico and other low-cost insurance companies on the radio and TV, and they would always have the disclaimer at the end, "Not available in New Jersey". Suddenly, that was all over - we had more choices and companies like Geico and State Farm and others were allowed to do business in the state.
Along with this choice came lower premiums - low like in 40% of what they used to be.
Was there legislation that was passed (or lifted) that made these choices and this competition possible?
It is my opinion that removing state mandates from health insurance would increase competition and lower premiums, and I think that the NJ Auto Insurance example might be a good comparison, but I don't know all of the facts. Does anyone know exactly what happened in the Auto Insurance industry, specifically in NJ?
Yes, that and TORT reform.*
Filed under auto insurance price quote by on Jul 23rd, 2010. 
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