NJ S4563

Requires auto insurers' rating territories to be defined by contiguous zip code+4 (the 9-digit zip code) instead of the current standard 5-digit zip code, enabling more precise geographic risk assessment

Increases the maximum number of allowable rating territories from 50 to 100 territories statewide

Mandates that territories follow municipal boundaries as closely as possible while maintaining contiguous geographic areas

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

Amends the existing 1998 law governing how insurers establish territorial definitions, relativity factors, and base rates for private passenger automobile insurance