Auto coverage is getting even more expensive for 1.2 million New Jersey drivers in the new year
Up to 1.2 million New Jersey drivers will start paying more for
their auto insurance in the new year under a bill Governor Phil Murphy
signed into law that increased the minimum amount of
liability insurance drivers they must have in the country.
Drivers convicted under the questionable law can expect to pay
about $125 a year per car for coverage, according to company officials.
The new regulation increased the minimum amount of
legal liability coverage previously allowed from $15,000 to $25,000.
The law incorporates another boom in minimum liability
coverage to $35,000 in 2026, so drivers can expect to pay even more in 3 years
.
Company officials said at the time the bill was
discussed that it would affect 1.1 million drivers
However, the country's Banking and Hedging department, which
oversees insurers, said 1.1 million is expected for at least one. 2 million
Up to 1.2 million New Jersey drivers will start paying more for
their auto insurance in the new year under a bill Governor Phil Murphy
Need More Stories
Learn more