NJ A5846

Requires the Commissioner of Banking and Insurance to define automobile insurance rating territories using contiguous zip code+4 areas (rather than the current zip code-only system) that follow municipal boundaries as closely as possible

Increases the maximum number of allowable rating territories in any territorial map from 50 to 100 territories

Enables insurers to use a more granular, detailed approach when assigning territorial risk for private passenger automobile insurance policies

Takes effect 120 days after enactment and applies to territorial rating plans filed after that date