TRENTON – Senator Ronald L. Rice, chief sponsor of the “New Jersey Automobile Insurance Competition and Choice Act,” which is credited with rejuvenating the State’s auto insurance market and helping consumers secure more choices in less than two years, praised the law’s positives results as listed in today’s report, “In the Driver’s Seat,” by the Department of Banking and Insurance.
“With a new company (Esurance) starting up here next week, it just gives our drivers more of the choices they need to help themselves, pricewise, like never before,” said Senator Rice, D-Essex.
Of special satisfaction to him, Senator Rice said, is the attraction of low-cost, no-frills car insurance for those with limited means.
“I always said the little guy with few assets still has to be on the road, with or without car insurance, because he has to drive to survive,” Senator Rice added. “Well, we’re doing something right because the Department’s stats are showing that 14,000 drivers have signed up for the $365-a-year policy for those with Medicaid coverage and another 10,000 enrolled in the Basic Policy. Since the new law was signed there’s been lowered rates, thousands of added agents selling policies and more protections than ever for good drivers. That’s progress and we’ll take it.”