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Reforming New Jersey's Automobile Insurance System: Five Years Later

Auto reform anniversary report shows auto premiums drop of three straight years.

Download a copy of the ICNJ Auto Reform Report

Fair Access to Insurance Requirements (FAIR) Plans are special programs that make insurance available to the small percentage of property owners who have difficulty obtaining private homeowners or property insurance. The state-supervised New Jersey Insurance Underwriting Association administers the New Jersey FAIR Plan, which was created in 1968. It insures only those structures that have a high potential for loss. All property/casualty insurance companies that do business in New Jersey are required to be members of the FAIR Plan.

Unlike conventional homeowners' insurance, liability and theft coverages are not included under FAIR Plan policies. To obtain liability and theft coverages similar to those in a conventional policy you can purchase a wraparound policy, which is a supplemental policy designed to insure against perils not covered by your FAIR Plan policy. Licensed insurance agents and brokers can provide FAIR Plan and wraparound policies. For more information about New Jersey's FAIR Plan, contact the New Jersey Insurance Underwriting Association, 744 Broad Street, Newark, New Jersey 07102-3838, phone (973) 622-3838.