East News
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N.J. Prepares to Change Auto Rate Territories
East News • April 25, 2005
New Jersey officials claim that caps removed from auto insurance rates in cities will not automatically increase costs for drivers and could help build a more competitive auto insurance market. ...
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| Subject | Posted By | Posted On |
|---|---|---|
| Just Look at Progressive | Ray | Mar 8, 2006, 4:54 pm |
| price | pharmacies online sites | Oct 4, 2005, 1:23 pm |
| RE: RE: RE: RE: Re: Mileage Exposure Base | Mike | May 29, 2005, 5:45 pm |
| RE: RE: RE: Re: Mileage Exposure Base | AGENT X | Apr 29, 2005, 12:04 pm |
| What Else is New | Ray | Apr 26, 2005, 9:50 am |
| NJ auto rate territories | A. M. Castellini | Apr 26, 2005, 9:26 am |
| RE: It's About Time - More Needed | Mike | Apr 25, 2005, 2:54 pm |
| RE: RE: Re: Mileage Exposure Base | Ray | Apr 25, 2005, 12:42 pm |
| RE: Re: Mileage Exposure Base | Steve | Apr 25, 2005, 12:33 pm |
| Re: Mileage Exposure Base | craig | Apr 25, 2005, 12:09 pm |
| It's About Time - More Needed | Ray | Apr 25, 2005, 9:54 am |
| Back to article | ||
Subject: It's About Time - More Needed
Auto insurers MUST move to system based on TRUE exposure. Exposures related to territory seems to be moving in that direction. Now we need to establish a mileage threshold (say 12,000 miles anniually) for rating purposes. A credit for driving under the threshold as well as a surcharge for going over. This is a system tryuly based on exposure. After all, isn't risk based against exposure and exposure equal to rate/premium charged. Insurance wasn't designed to socialized it was designed to be calculed off tru exposure.