Permits insurers to consider the zip code of where a vehicle is garaged in premium calculations, segmented by municipality, starting July 1, 2027.
This bill allows insurers to factor in the zip code where a vehicle is garaged when calculating policy premiums, provided the calculation is segmented by the municipality. This change will take effect for policies issued or renewed on or after July 1, 2027. The bill also includes provisions regarding the renewal of private passenger automobile policies, the consideration of certain incidents in rate calculations, and the treatment of volunteer drivers and policy inquiries.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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