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. Comment. 
if i have two cars on one insurance policy do they both have to have the same limits on them?
No, I have 6 cars on my insurance policy, and on three of them I am the principal driver, I have three with basic liability coverage and three with full coverage because they are financed and its required, some are listed as work cars, pleasure, and business. You can have what ever you want. I insure my kids cars because they could not afford it on their own.
Filed under auto insurance price quote by on Jul 14th, 2010. Comment.
What do I do when the other partys insurance wants me to pay more than book value for a car I damaged?
I was recently in a car accident. Unfortunately, I had no insurance. Therefore I am responsible for the damages. BUT the other partys insurance is trying to get me to pay more than her car is worth. I looked up the blue book value on the web. They are threatening me with legal action and/or license suspension. I am willing to pay but they are asking way too much. (Twice the blue book value of the car.) What are my options????
daddemoretsrunt, I recommend an online insurance quote. It’s free and generally hassle free. http://www.autoadviceonline.com/Auto-Insurance-Quote.html
Hope it works out
Filed under auto insurance price quote by on Jul 13th, 2010. Comment.