More than 1 million New Jersey drivers will likely pay more to insure their vehicles after Gov. Phil Murphy on Friday signed a controversial bill into law. The measure will hike the minimum amount of liability insurance in the Garden State from its current $15,000 coverage to $25,000 beginning in 2023, and a minimum of $35,000 starting in 2026. Industry officials said about 1.1 million drivers will pay roughly $125 more each year. The measure passed in the state Senate last month by a 25-13 vote without any discussion and by 44-29 in the Assembly after it hit a minor speedbump when two Republi…
