Members of the car insurance industry are urging the Phil Murphy Government not to sign a bill passed by legislators last month that would raise insurance rates for over one million New Jersey drivers.
“We are talking about safe drivers here. This is not a bill to raise the rates for bad drivers. That’s not the bill, ”says Eric Poe, CEO of CURE Auto Insurance.
Poe is among those asking Murphy not to sign the bill, which would raise insurance rates by an average of $ 120 a year.
“With rising inflation and $ 6 a gallon for gas, how can we pass a bill that raises rates for the poorest 22% of drivers in the state of New Jersey?” Poe asks.
CURE insures many drivers without desirable credit scores or higher education – poorer residents who would be hit hard by the change.
“We get drivers who are probably more central to lower incomes,” Poe says.
Poe estimates that 80% of its 25,000 customers receive the minimum necessary personal injury coverage. These minimums increased in January and then again three years later if the bill becomes law. Poe says he believes many of his customers would drive without insurance as a result.
“Most drivers who leave CURE are uninsured. If they can’t pay our rate, they can’t afford any rate, ”says Poe.
New Jersey state Senate President Nick Scutari, who works as a personal injury attorney, says the changes are necessary to protect those injured in car crashes.
The governor is currently out of state and on vacation in Italy through July 20th. Acting. The Gov. has the power. Shelia Oliver is currently signing or vetoing legislation.