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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: NJ auto rate territories

Posted On: April 26, 2005, 9:26 am CDT
Posted By: A. M. Castellini
Comment:
It is not correct to state that the territorial rate caps were put in place because urban rates were soaring. Only one community - Newark - received a significant benefit ( about 26% reduction) when the capes went into effect. Now, about 12 or so urban areas have rates that are artificially capped - at the expense of suburban and rural territories.
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