NU Online News Service, May 19, 6:05 p.m. EDT--AIG Auto Insurance announced yesterday that effective June 30 it will lower auto insurance costs by 4 percent for policyholders in New Jersey.
The announcement represents a growing trend among auto insurers reducing rates in the state in recent months. Selective, Chubb, Amica, Parkway Insurance, and New Jersey Citizens United Reciprocal Exchange (NJCURE) have all announced rate decreases in the last six months.
The AIG rate decrease will affect over 115,000 vehicles and result in more than $5 million in savings for more than 55,000 New Jersey drivers insured by American International Insurance Company of New Jersey, the company said.
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