Assembly Financial Institutions and Insurance

The Assembly Financial Institutions and Insurance Committee is responsible for issues such as banking, finance, trusts and estates, auto insurance, liability insurance, life insurance, product liability, property insurance, and tort reform.
Democratic Research Aide:  Martin Sumners   
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Holley & Chaparro Introduce Pro-Consumer Bill to Reduce Insurance Premiums for Certain Coverages for Residents Who Use Dashboard Cameras

(TRENTON) - Assembly Democrats Jamel Holley and Annette Chaparro recently introduced legislation that would require insurance companies to provide a reduction in certain automobile insurance premiums for residents who have installed dashboard cameras in their vehicles.

Most car insurers offer discounts for vehicles that have anti-lock brakes, air bag and passive restraint systems, and anti-theft vehicle recovery systems. However, the sponsors note that since dashboard cameras are a relatively new technology available to drivers, insurance provisions and regulations for dashboard cameras have yet to be developed in the state.

"Air bags, a collision-avoidance system and dashboard cams are all safety devices created to help decrease accidents," said Holley (D-Union). "A dashboard camera and the actual video footage it provides of an accident will become an invaluable tool for insurance companies. Consumers who install dash cams in their vehicles should see a discount in their insurance rates for providing such transparency in their driving."

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