Car Insurance Rates Drop in New Jersey (why not here?)

Car Insurance Rates Drop in New Jersey - New York Times: If NJ can do it, how about some insurance reform in Massachusetts?

Joseph Alfano, who works for an office supply company in Clifton, N.J., got a pleasant surprise when he renewed his car insurance this summer. The premium on his 1997 Mercury Mountaineer dropped nearly 30 percent, to $1,273 a year.

“It went down almost $500,” Mr. Alfano said. “That’s significant money.”

More tellingly, it provides a case study in what happens when competitive forces are unleashed and markets are allowed to operate more freely. And while some drivers are worse off, the vast majority of consumers have gained from the changes.
Throughout the country, New Jersey and Massachusetts stood out for their heavy regulation. Some of the biggest insurers shunned the states. But that started changing in New Jersey when state officials, worried that even more insurers would leave, finally decided to give the industry much more flexibility with prices and driver ratings.

4 comments:

  1. Car Insurance rates typically increase. So if NJ rates have gone down count your blessings.

    ReplyDelete
  2. Anonymous9:30 AM

    “It went down almost $500,” Mr. Alfano said. “That’s significant money.”
    thank you
    jhon
    Car Insurance Comparison

    ReplyDelete
  3. “It went down almost $500,” Mr. Alfano said. “That’s significant money.”
    thank you
    jhon
    Car Insurance Comparison

    ReplyDelete
  4. This is a wonderful opinion. The things mentioned are unanimous and needs to be appreciated by everyone. I appreciate the concern which is been rose. The things need to be sorted out because it is about the individual but it can be with everyone.
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    Car Insurance Rates

    ReplyDelete