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Theatrix · 03-10-2009, 01:23 PM

Effective February 1, 2009, NJ is back to a potentially difficult enviroment.

A few terms I'll define first.

"Take all comers" is an enviroment where companies who write in NJ must accept all comers with 7 pts or less within 3 years.

"Incidents" are any moving violation, chargeable accident or non-chargeable accident.

Combined Ratio" combination of loss ratio and operating expense.

New rules (which would apply to most here) - If you are one vehicle and have more than one incident within the past three years, you are ineligible for voluntary insurance. If you have more than one vehicle, then we will accept as many incidents as vehicles. For example, 2 vehicles and we will accept no more than two incidents within 3 years. 3 vehicles=3 incidents spread amongst all drivers!

What has happened? Competition has brought lower rates. Lower rates means higher combined ratios if underwriting is not in check. So now companies will scramble to correct underwriting.

What we are seeing is a higher occurance of companies non-renewing insureds from all companies. It has gotten very busy lately because of this.

Should you have questions with your carrier or Allstate, post them here and either Chase or myself will respond.

03-10-2009, 01:23 PM	#1 (permalink)
Theatrix Base Member Join Date: Feb 2009 Location: Zoo Jersey Posts: 23 Drives: fx35 Rep Power: 16	New Rules for NJ Insurance Effective February 1, 2009, NJ is back to a potentially difficult enviroment. A few terms I'll define first. "Take all comers" is an enviroment where companies who write in NJ must accept all comers with 7 pts or less within 3 years. "Incidents" are any moving violation, chargeable accident or non-chargeable accident. Combined Ratio" combination of loss ratio and operating expense. New rules (which would apply to most here) - If you are one vehicle and have more than one incident within the past three years, you are ineligible for voluntary insurance. If you have more than one vehicle, then we will accept as many incidents as vehicles. For example, 2 vehicles and we will accept no more than two incidents within 3 years. 3 vehicles=3 incidents spread amongst all drivers! What has happened? Competition has brought lower rates. Lower rates means higher combined ratios if underwriting is not in check. So now companies will scramble to correct underwriting. What we are seeing is a higher occurance of companies non-renewing insureds from all companies. It has gotten very busy lately because of this. Should you have questions with your carrier or Allstate, post them here and either Chase or myself will respond. __________________ 06' G35 Coupe, 06' 350z Grand Touring, 09' Fx35 10' R10 (coming) NJ Allstate Agent, (B) 609-877-1105, (C) 856-607-6755 Coomer@allstate.com