Thank you for sharing!

Your article was successfully shared with the contacts you provided.
During the final quarter of 2020, the auto insurance shopping rate averaged 4.7%, while new business volume grew quarter-on-quarter at an average of 3.9%. (Credit: Africa Studio/Shutterstock.com) Sponsors of the bill claim that current practices are absurd and that the legislation will hold insurers accountable and help ensure that vulnerable citizens are getting fair prices. (Credit: Africa Studio/Shutterstock.com)

New Jersey has begun to take steps to prohibit auto insurance companies from using certain factors, including a driver’s credit score, occupation, and education level, as factors to establish coverage rates.

The State Senate recently approved a bill that seeks to end the industry’s use of socioeconomic factors. Sponsors of the legislation say that the use of socioeconomic factors in determining coverage rates is unfair and discriminatory against low-income drivers.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.