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Discussion Starter #1
http://www.nytimes.com/2001/06/13/nyregion/13INSU.html

Due to persistant losses, State farm has opted to withdraw from the NJ Auto insurance market, of which it holds (the largest) 17+%.


"...State Farm was prepared to abandon its other lines of insurance in the state if New Jersey officials required that step as a condition of getting out of the automotive market here. The company is also the top provider of homeowners' insurance in the state."

[ June 13, 2001: Message edited by: s0yb0mb ]
 

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IF I LIVED THERE I WOULD LEAVE ALSO!!!!!!!

FOCKING LAME THERE!!! EWWW AND DIRTY~
 

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Discussion Starter #3
Originally posted by is300soon:
IF I LIVED THERE I WOULD LEAVE ALSO!!!!!!!

FOCKING LAME THERE!!! EWWW AND DIRTY~
hahaha, very original humor you have there. Seriously though, people give NJ a bad rap, and although some of it is deserved, much of it is not. Yes, NJ has industry in it that creates many pollutants, but so does every state, and we are by no means anywhere near the worst offenders. The problem is that the industrial plants are all situated around the Garden State Parkway, and the NJ turnpike, so when people are driving thru, that is all they see. Come to Montclair sometime, and you will see Americana like you see int he movies. Go to the shore and you will see some of the nicest beach on the east coast. There are many great things about NJ, and I'm not going to go into them, but trust me, you've been misinformed.
 

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uhh..
I use StateFarm for my car insurance. uhh.. Sh!t uhh.. I would hate to get dropped. Then what the hell do i do.



Originally posted by s0yb0mb:
http://www.nytimes.com/2001/06/13/nyregion/13INSU.html

Due to persistant losses, State farm has opted to withdraw from the NJ Auto insurance market, of which it holds (the largest) 17+%.


"...State Farm was prepared to abandon its other lines of insurance in the state if New Jersey officials required that step as a condition of getting out of the automotive market here. The company is also the top provider of homeowners' insurance in the state."

[ June 13, 2001: Message edited by: s0yb0mb ]
[ June 13, 2001: Message edited by: Martin ]
 

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Discussion Starter #5
according to the stuff I'veben reading, one of the issues that SF is having is that the state laws make it really hard for a company to withdraw, so it should take a few years... don't worry just yet.
if you don't mind me asking, what county do you live in, and what do you pay annually for your insurance?
 

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Union County, 2,800 .. I'm 22 now.


What insurance do you have? and how much. If you don't mind me asking


Originally posted by s0yb0mb:
according to the stuff I'veben reading, one of the issues that SF is having is that the state laws make it really hard for a company to withdraw, so it should take a few years... don't worry just yet.
if you don't mind me asking, what county do you live in, and what do you pay annually for your insurance?
 

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Discussion Starter #7
oh yeah, i meant to post it...
24/m Hudson Co. was paying $3200, but will drop to ~$2300 in July, and I am with Allstate. As I just got a home insurance policy with them, I should get an additional reduction in my rates.
 

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That's what those insurance companies do when they lose a lot of money and can identify exactly where they lost it. Are NJ driver's maniacs? Are there lots of car thefts? Those are reasons.
Anyway, don't feel bad; some other company is bound to "buy the book" and offer easy conversions to their plans. However, I'd shop if I were made such an offer. It just stinks that every time a carrier leaves an area the consumer has less choice. It happened to us with medical insurance in Washington. The state made laws that prohibited health underwrting...and a number of companies just shut down and took off.
 

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the state is the reason why they are pulling out...there isn't a question of where their money is going (they have claim reports to tell them)...from what I hear the legislation in NJ is worse than anywhere else in the US...complaining to congress men might help out to lower your insurance costs...I'd call SF and ask them whats going on...I am sure they'll have some 'offical response'...good luck
 

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it's probably due to stolen HID from Acura TL/CL.

Where each claim is about $4000. No wonder state fram wants to dume NJ. May be NY will be next.
 

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Yes - NJ is worse......the highest auto insurance rates in the US - a recent survey was just published in a local paper. I'm sure the root cause doesn't have anything to do with incompetent governors (Florio), organized crime (Whitman was better connected than Carmela Soprano), or corporate kickbacks. I guess we're supposed to just bend over and keep taking it sideways. BTW - NJ is a great place to live - just never tell anyone you live there, especially the insurance companies. Thank God for PO boxes in PA.
 

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Are there lots of car thefts?
New Jersey for the longest time, had the highest number of car thefts in the country. It had almost become a game of sorts... I'm not sure where they stand now. It was crazy, kids would steal a car, joyride it, crash it, and steal another one to get back home...

Scrap.
 

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Yes it's true. I checked my mail yesterday when I got home. Sure enough there was a letter addressed to me from SateFarm.

1. They sent the request to pull out
2. Should take a year for anything to go into affect
3. Another company might pick-up the slack. They don't know for sure
4. They will be sending a notice informing people to start finding a new insurance company
5. They are very sorry that they have to pull out but NJ just plain sucks for car insurance
..

Dam. It was hard enough to find an insurance company the first time.. Now i have to do it all over again!!! arg
..
 

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Discussion Starter #15
Originally posted by Scrap:
New Jersey for the longest time, had the highest number of car thefts in the country. It had almost become a game of sorts... I'm not sure where they stand now. It was crazy, kids would steal a car, joyride it, crash it, and steal another one to get back home...

Scrap.
ok, when they make a movie that is about stealing cars in your home state, you know it's time to invest in a car alarm or theft-deterrent. Y'all remember "NJ Drive"? It took place in Essex county (Newark), home of the highest car theft rate in the nation for several years during the early 90's.
The problem was we had severely depressed inner city bordering upper class wealth, and the 2 clashed. Car jacking was a fear for a while, as everyone knew of someone who was assualted or had their car stolen. one sick story I remember (the kids were in grade school of my school) was a woman was carjacked at a grocery store... I'm not sure when they killed her, but she was in the trunk, and they decided to rob her home (address on licence). When they got there, the husband freaked and they tried to get away, running him over.

The problem is still here, but not as bad, and a lot of theft is done by peoples coming from out of state (NYC) and bringing the cars back with them. It takes longer for the police to track the cars down that way. My county (Hudson) has the 2nd highest theft rate (behind Miami, FL) due to Jersey City. Being that Jersey City is larger than most "cities" in other states (San Diego pops into my head... that's one small city), the #'s are a bit skewed.

So how does this out-of-state P.O. box thing work? do you have to go pick up mail then?
 
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