Storm costs driving up NJ auto insurance rates

Losses from previous storms are helping to drive up New Jersey's auto insurance rates, which are already the highest in the nation. The Record newspaper

Storm costs driving up NJ auto insurance rates

Storm costs driving up NJ auto insurance rates

TRENTON - (AP) - Losses from previous storms are helping to drive up New Jersey's auto insurance rates, which are already the highest in the nation.

The Record newspaper reports the state approved increases for 26 insurance companies this year, including top insurers Allstate, New Jersey Manufacturers and State Farm.

The insurers say they are covering costs associated with Tropical Storm Irene and a Halloween nor'easter from two years ago. They also are facing higher medical costs and other financial factors.

Consumer Federation of America insurance director J. Robert Hunter tells the newspaper he doesn't expect more than a 1 percent increase for New Jersey motorists from Sandy.

The association says the average auto insurance policy in New Jersey costs $1,157.30.

advertisement | advertise on News 12

Trending Video

A person has barricaded his or herself inside 1 Suspect in custody after Elizabeth standoff; child unharmed
Central Regional's Polina Dineva, holds six school records 2 Scholar Athlete: Polina Dineva
Red Cross assists two families displaced after fire 3 Two families displaced after fire in Neptune
News 12 New Jersey - Weather On The 4 New Jersey Weather Forecast
Arrest made in Paterson shooting involving rapper, city 5 Police investigate if rapper Fetty Wap involved in Paterson shooting

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE