IIABNJ Lauds N.J. DOBI Consumer Education Initiative

March 8, 2004

The Independent Insurance Agents & Brokers of New Jersey (IIABNJ) has issued a bulletin applauding the state’s Insurance Commissioner, Holly Bakke and the Department of Banking and Insurance (DOBI) for the new Auto Insurance Purchasing Planner which is now available to consumers on the Internet.

Denise Ronan, IIABNJ’s Immediate Past Chairman, met with Commissioner Bakke, other DOBI members and the press to preview the planning tool. “This program provides another tool for consumers to transition to a competitive automobile marketplace”, Bakke indicated.

She explained that the DOBI’s goals were designed to provide three things: 1) an understanding of insurance coverage terminology 2) the choices available in automobile insurance and 3) the difference in making those choices with respect to savings and coverage options. While the web-based program does not provide premium quotations, the selections made will reflect whether or not a consumer will have a minimal, moderate, significant or not gain any savings when compared to the average policy purchased in New Jersey.

“The Auto Insurance Purchasing Planner is another tool to educate consumers about automobile insurance in New Jersey and the options available to them. Consumers will be able to print off their choices, and discuss their options in detail with their independent insurance agent”, Ronan stated. “Being an informed consumer is critical in selecting coverage’s that protect your assets and your family.”

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