New Jersey's New Deal
New Jersey's average auto insurance premiums dropped by nearly $1,000 -- what did the trick?
A recent report on auto insurance pricing from Insurance.com boldly proclaimed – for the second year in a row -- that insurance rates vary by where you live. A hearty thank-you to researchers for stating the completely obvious. What caught my eye, though, was data showing that the average premium for drivers in New Jersey that received quotes through the Web site dropped by $991.89 between 2005 and 2006. Although still one of the nation’s most expensive states for drivers, it appears New Jersey could have turned a corner with its auto insurance reform, a fact that most likely won’t go unnoticed by Massachusetts policymakers.