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All New Jersey drivers know the Auto insurance landscape in Garden State has drastically changed. Prior to 2009, New Jersey drivers were limited to very few choices when it cam to obtaining liability insurance for you car, truck or SUV. Because of the population areas in the northern part of the state and the coastal risks along its eastern border, insurance companies have very difficult time trying to post a positive underwriting profit. Further, the statutory limitation created by the New Jersey legislature in those days made it even more difficult to correct a carriers rate filing. Most people notice that all auto and homeowners insurance carriers have a different rate. The rates a carrier charges is based on an actuaries finite estimation of how many claims an insurance company will need to pay for in relation to the amount of insurance premium the carrier will collect from it's customers annual and monthly. These actuaries are highly educated individuals and are very good at what they do. Under normal circumstances, a set of auto insurance or homeowners rates files with the New Jersey Department of Insurance will perform as planned. As I mentioned before New Jersey has 3 issues it must overcome.
Until January 1st 2009, most companies had a difficult time making a profit, because of the changes the New Jersey Department of Banking and Insurance put in place after that date - things have changed for the better.
Regardless whether you are purchasing a new auto insurance policy or you are about to renew an existing policy; understanding the coverage required to meet the minimum coverage requirements of the state and what coverages you need to protect your assets are two very different things. And to choose the right coverage for your individual situation, you'll need to consider a number of issues regarding not only the car you drive, but also when you drive, where you drive, and what additional and optional coverages you may need.
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UPDATE 8/14/2011
Since their entrance into the State of New Jersey auto insurance marketplace, Personal Service Insurance Company has been showing the driving residents of the state what it's truly like to care about your customers. Prior to 1999. Personal Service Insurance Company (PSI) serviced only the residents on Ohio. The Investment Group which owns PSI, ARCH Financial, also owns a few other very special auto insurance companies. Besides PSI, they also own American Independent Insurance Company, which writes auto insurance in Pennsylvania and Delaware, and Omni Insurance Company, which was recently purchased from The Hartford. Omni markets to numerous car insurance markets throughout the United States.
Michael E. Dortch and his National Insurance Agency, InsureDirect.com, has been marketing the state of New Jersey since 1998. Through the urging of Dortch, and a year of investigating of New Jersey's new state auto insurance laws, PSI entered the state of NJ in 1999. It has been a remarkable success story. Not only does PSI offer some of the lowest premiums in the state of New Jersey, not one carrier can beat their low Down Payments on both annual or semi-annual policies. During this difficult economy, this is a very important factor. Between Personal Service's rates and InsureDirect.com's one call instant binding - the registered vehicle owner and drivers of New Jersey have never had it better. Regardless if you have an Accident, Ticket, Violation, Suspension, even a DUI/DWI; PSI has the lowest auto insurance rates in the state. And, if you think their rates are good if you have a less than perfect record, check our their perferred rates for those who have a flawless record.
Thursday’s Post 12.29.11 - Allstate Budget Car Insurance Company has begun proceedings to take back over 6 million dollars from more than eighty organizations in New York, New Jersey and Pennsylvania whom were paid for allegedly fraudulent Auto Insurance claims. The action falls under the State’s RICO statutes. Allstate Insurance Company provides both Car Insurance Quotes and Homeowners Insurance Quotes both on the interent…
Sunday’s Post 12.25.11 - The North Pole - Friday 12/24/11: In a unanimous 8-0 decision which did not surprise any on-lookers in the court’s gallery yesterday morning; Saint Nicholas was found “Not Guilty” of causing two house fires Christmas last year. It was nearly a year ago, 12/25/2010, when Fire Departments in Pittsburgh, Pennsylvania and Trenton, New Jersey were called to put out two living room fires which were mysteriously started and very similar. …
Wednesday’s Post 11.23.11 - The state of New Jersey has saved nearly $60 million through their anti-fraud effort launched March this year, according to state officials. The anti-fraud Program was part of the state’s campaign to cut down on wasteful spending in fraudulent unemployment insurance payouts. A lofty endeavor. New Jersey’s Department of Labor and Workforce Development, or LWD, carried…
Tuesday’s Post 11/15/11 – Insurance ratings firm, A.M. Best, released a report indicating that Medical Professional Liability Insurance (MPLI) providers in New Jersey are enjoying stong profits. The report, released on the 2nd of October, evaluated MPLI market conditions that prevailed from 2010 to the beginning of 2011. Notable issues covered by the report include tort reforms, mergers and acquisitions,…
Saturday’s Post 11/12/11 - Over the last few days, I have discussed Personal Injury Protection (PIP) and the two states in the U.S. which are responsible for the highest mandated amounts. For some time now, New Jersey’s auto insurance companies have fled the state because of what they claim to be excessive PIP benefits being levied on car insurance companies…
Thursday’s Post 11/10/11 - Michigan is the only state in the U.S. that still offers “unlimited” Personal Injury Protection (PIP) benefits for auto accident victims. The unlimited insurance coverage includes lifetime benefits for victims who have suffered extensive injuries and will require lifetime medical care, as is often the case for spinal injuries and paraplegics. This is, however,…
Wednesday’s Post 10/26/11 - Recently, one of the greatest tragedies to ever occur in the U.S. was when Hurricane Irene struck land. Irene will possibly cost U.S. state and local governments billions of dollars in damages, but funds from the national government might ultimately cover much of this expense. It may be too early to estimate the entire cost…
On Sunday; one of my New Jersey Auto Insurance clients was involved in an auto accident. Although my client was not ticketed or speeding or driving carelessly, her car slid off the road and into a guard rail while going around a wet curve. After she filed her auto insurance claim with Progressive Insurance Company; she stopped by Southeastern PA office…
Many InsureDirect.com customers throughout Pennsylvania, New Jersey, Delaware and Maryland and parts of Ohio experienced losses from Hurricane Irene. It seems like no one was immune regardless if you lost your car, home, motorcycle or boat to wind or flooding. My family home I lost its power for four days and many of my neighbors in the Bucks County Area of Pennsylvania experienced severe…
As most of us whom live on the east coast are aware, last week an unusual earthquake hit the state of Virginia which was felt as far north as Niagara Falls Canada. The event left many on the east coast engrossed in uncertainty of not knowing when this type of event may strike again and what damage they could incur during the next event. In addition, these same residents are…
What do New Jersey and Oregon Have in Common? They are the only two states that do now allow self-service gasoline sales.
Of course, buying a new car may means you may have to carry additional insurance coverages, but InsureDirect.com can help you find a great low rate on car insurance online or by telephone.
Saturday 1/21/2012 – Or at least it seems that way!
New Jersey’s preeminent sports and entertainment complex hosts everything from the NFL’s Giants and Jets football games to ‘Disney on Ice.’
It’s not unlikely that at some point or another, you’ll be heading that way, and when you do, be sure to visit the website page with all the information you’ll need to know about Meadowlands parking and drop-offs.
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