New Jersey Lawmakers Want Auto Insurance Reform

New Jersey auto insurance companies received permission as of January 1st, 2009 to use factors such as education, occupation and an individual's credit score as criteria for determining their auto insurance rates. The New Jersey auto insurance providers are no longer required to take all applicants regardless of perceived risk.

It is a measure surrounded in controversy as lawmakers believe it will make it more difficult and more expensive for less affluent drivers to get affordable auto insurance. They believe it will produce a greater amount of uninsured drivers which will drive up risk for everyone.

On the other hand, auto insurance carriers believe it makes for more accurate underwriting so rates are well matched to risks. In this way people are not paying more than they need to for auto insurance coverage.

As developments surrounding New Jersey's auto insurance laws continues, InsuranceQuotesUS.com will keep you posted on the latest news. If you need to find affordable auto insurance quotes, utilize the free quote finder service and get multiple auto insurance quotes for auto insurance in New Jersey or any other state.