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. 
Can car accident attorney place lis pendens on a house in New York State?
IIf a vehicle is involved in an accident, and the insurance company has not settled the claim yet, and the person claiming injuries files a lawsuit against the vehicle owner, can the plaintiff place a lis pendens on the home of the vehicle owner?
I'm an insurance rep in CA... The claimant (person you hit) can not file a suit against you if you have enough liability coverage under your auto policy. As long as you we're insured during the accident, you're insurance company should handle the claim in full. Contact your adjuster and let them know what's going on. They should be able to handle it from there... as long as you have enough coverage!
Filed under auto insurance price quote by on Jul 11th, 2010. Comment.