Business Report: Auto insurance rates rise

Clip: 12/28/2022 | 2m 36sVideo has Closed Captions | CC

A law goes into effect Jan. 1 that raises minimum amount of required liability insurance

Auto insurance rates are going up for more than 1 million New Jersey residents as a law goes into effect on Jan. 1 that increases the minimum amount of required liability insurance in the state for drivers from $15,000 to $25,000. Supporters of the law argued that car crash victims haven’t been able to have their medical bills fully covered because of low liability insurance coverage.

Aired 12/28/2022

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