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NJ S3134
NJ S3134Requires consultation with insurance producer or provision of cost benefit analysis prior to sale of automobile insurance policy.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill prohibits an automobile insurer from issuing a policy of motor vehicle liability insurance to an individual unless the individual consults with an insurance producer about the policy prior to purchase. In addition, the bill permits an insurer to sell a policy of insurance through an internet website to an individual who has not consulted with an insurance producer if the insurer provides the individual with a cost benefit analysis prior to selling the policy of insurance.
AI Summary
This bill requires that before an automobile insurance company can sell a motor vehicle liability insurance policy to an individual, that individual must first consult with a licensed insurance producer, which is a person licensed to sell insurance. However, there's an exception: if the insurance is sold online through a website, the insurance company can bypass the consultation with a producer, but only if they provide the individual with a cost-benefit analysis, which is a breakdown of the policy's costs and advantages, before the sale. The Department of Banking and Insurance will create rules to define what counts as a consultation and a cost-benefit analysis, and to ensure the bill's provisions are followed. An "insurer" in this context refers to any company authorized to sell auto insurance in the state, excluding specific state-created insurance pools.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S3134 |
| BillText | https://pub.njleg.gov/Bills/2026/S3500/3134_I1.HTM |
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