NAIC REPORTS NJ AUTO PREMIUMS CONTINUE TO DROP BUT REMAIN THIRD HIGHEST IN THE U.S.

DECEMBER 30, 2010 -- A recent article in the Newark Star-Ledger reports that while insurance rates for New Jersey drivers have continued to drop for the fourth year in a row, car insurance rates in the state remain the third highest in the nation. The average annual premium for a driver insured in in New Jersey fell to $1,197 for the last year in which numbers are available (2008), down from $1,227 the year before. Average premiums for NJ drivers typically include liability, comprehensive and collision coverage.

Many auto insurance companies are being creative in how they write policies to protect their customers. It makes sense to talk with your insurance representative to make sure you are adequately covered and whether you can save money on your premiums based on how, when, and how far you drive.

The NAIC (the National Association of Insurance Commissioners) is an organization of the chief insurance regulatory officials of all 50 states, the District of Columbia and five U.S. territories. 

• Here is a link to the complete article in the Newark Star-Ledger:   http://www.nj.com/business/index.ssf/2010/12/car_insurance_drops_but_still.html
•  Here is a link to the NAIC web site: http://www.naic.org/