N.J. Investigates Auto Insurers
NU Online News Service, Dec. 23, 10:30 a.m. EST--The New Jersey Department of Banking and Insurance is investigating why some insurance companies and agencies within the state are not offering the state's "Basic Policy" auto insurance plan to customers.
A survey conducted by the department in October found that only a third of the attempts by investigators to buy a Basic Policy plan resulted in either a quote or an offer to mail an application.
The Basic Policy is a minimal liability policy designed to bring more affordable insurance to the state's drivers, some of whom have been driving without insurance.
Eight companies were named in the order. They will have to explain to officials how they plan to make the Basic Policy available to drivers who ask for it, the department said.
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