Establishes "Car Insurance Reduction Act"; modifies current law addressing requirements of automobile insurers for underwriting; rate calculations and reductions; and reporting requirements to State.

This bill, the "Car Insurance Reduction Act," modifies New Jersey auto insurance regulations to directly affect insurers and drivers. It prohibits insurers from using credit history, education, occupation, or certain license types in underwriting or pricing, and requires them to provide clear, online explanations of how premiums are calculated - including whether non-driving factors were used. Insurers must also allow consumers to compare coverage options and estimated premiums on their websites. Additionally, the bill mandates rate reductions for safe driving (potentially using telematics) and new data-sharing requirements for fraud detection between insurers and state agencies.