Insurance rates higher with recreational marijuana lawsPosted On: Nov. 29, 2017 10:42 AM CST
With legalized recreational marijuana on the rise, people aren’t the only ones getting high.
Car insurance rates are also going up, the radio station New Jersey 101.5 reported this month.
The Highway Loss Data Institute — a research organization that’s funded by auto insurers — earlier this year released a study showing that legalization of recreational marijuana in Colorado, Oregon and Washington resulted in a rate of collision claims that were about 3% higher.
“We are seeing rates go up, and one cause of rates climbing in these states is the presence of recreational marijuana,” James Lynch, chief actuary for the Insurance Information Institute, told the radio station.
Meanwhile, a survey commissioned by the Property Casualty Insurers Association of America released Tuesday shows that while 91% of people believe driving under the influence of marijuana is dangerous, only 40% believe it is contributing to more crashes.