A 4562 New Jersey General Assembly · 2026-2027 Regular Session

Requires automobile insurance carriers offer policies with 12-month term.

This bill requires automobile insurance companies in New Jersey to offer customers the option to purchase 12-month insurance policies. The legislation applies to carriers providing standard or basic auto insurance coverage while allowing them to continue offering shorter or longer-term policies. The 12-month option would give drivers a fixed annual coverage period that could simplify renewals and potentially stabilize rates for longer durations. The law would take effect 120 days after it is signed into law.

Bill status in committee 1 of 4 stages cleared

Introduction

Mar 2026

Committee Review

Floor Vote

Governor

Introduced Mar 10, 2026 Last action Jun 4, 2026

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What changed between versions

Introduced → Reprint · 2 edits

MINOR

Bill A4562, which requires New Jersey automobile insurance carriers to offer 12-month term policies as an option, passed through the Assembly Financial Institutions and Insurance Committee with amendments on June 4, 2026. The primary substantive change is that the effective date was extended from 120 days after enactment to one year after enactment. The bill's statement section was removed in this reprint version.

TIMELINE

The effective date of the law was changed from 120 days after enactment to one year after enactment, giving insurers a longer period to comply with the new 12-month term policy requirement.

TECHNICAL

The bill's explanatory statement section (describing the purpose and scope of the 12-month term policy requirement) was removed in this reprint version, likely as part of standard committee reporting formatting.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jun 4, 2026

Committee

Reported out of Asm. Comm. with Amendments, and Referred to Assembly Consumer Affairs Committee

lower

Mar 10, 2026

Introduced

Introduced, Referred to Assembly Financial Institutions and Insurance Committee

lower

1 primary · 0 co-sponsors