Why did my rates rise 20% for less coverage when I moved here?
I wanted to post on this
earlier, but hordes of tourists have kept me from my computer for more than a few minutes at a time.
On first glance, these reforms to the way auto insurance rates are formulated seem to make sense. If the data from New Jersey's switch to competitive rates is an accurate comparison, I think the fact that rates dropped on average by $53 a year since 2005 speaks volumes.
I do believe in a strong Insurance Commissioner. I have lived in states where the insurance companies did whatever-the-heck they wanted and the results rarely seemed to benefit the customer, but the idea of allowing companies to lure drivers doesn't bother me in the slightest.
There are readers of this blog who know a whole lot more about this subject than I, so if any of them care to leave their thoughts, your fellow surfers would be most grateful.