N.J. Admin. Code § 11:3-24.3

Current through Register Vol. 56, No. 23, December 2, 2024

Section 11:3-24.3 - Rate reduction filing requirements

(a) Every insurer shall include in its rules for automobile insurance coverage rate reductions for the successful completion of a defensive driving course.

(b) The rate reduction for the completion of a defensive driving course should be a minimum of five percent and is to apply to the base premium before expense fees are added for bodily injury liability, property damage liability, personal injury protection and collision coverages. Insurers may use external sources and/or actuarial experience to justify a discount different than five percent.

(c) Insurers shall disclose the application of the rate reduction on each Declarations page during the period for which the rate reduction is applied.

(d) Insurers shall maintain separate defensive driving experience statistics until coding by statistical agents for persons receiving the discount is implemented.

N.J. Admin. Code § 11:3-24.3