Sponsored by:
Assemblywoman ROSAURA "ROSY" BAGOLIE
District 27 (Essex and Passaic)
SYNOPSIS
Requires automobile insurance carriers offer policies with 12-month term.
CURRENT VERSION OF TEXT
As reported by the Assembly Financial Institutions and Insurance Committee on June 4, 2026, with amendments.
An Act concerning automobile insurance carriers and supplementing P.L.1972, c.70 (C.39-6A-1 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. An automobile insurer that offers a standard or basic automobile insurance policy shall provide the option to purchase the policy with a 12-month term. This requirement shall not be construed to restrict the insurer's ability to offer insurance policies with shorter or longer terms.
2. This act shall take effect 1[120 days] one year1 after the date of enactment.