TRENTON, N.J. -- New Jersey drivers are about to get more choices when it comes to selecting an auto insurance company.
Progressive Insurance, the nation's third largest, will enter the state market sometime this year, along with Esurance Insurance Co., an online insurer that will begin offering private passenger auto policies Tuesday, according to the second annual auto insurance report released Tuesday by the Department of Banking and Insurance.
"Auto insurance has always been the number one issue or had been for some time the number one consumer issue," said Jaimee Gilmartin, spokeswoman for the department.
In 2003, the state instituted an auto insurance reform after more than 40 insurance carriers left the state during the past decade and other major carriers were threatened to leave an over-regulated market.
Some $3.5 million has been returned to 2 million drivers through dividends or rate reductions since the reform began, according to the report.
Other milestones include Geico returning to New Jersey last year after a 30-year absence and the return of Safeco.
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