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

S 4149, the "Car Insurance Reduction Act," modifies New Jersey's auto insurance regulations to make rates more transparent and fair. It prohibits insurers from using credit history, education, occupation, or driving record factors (like accumulating 4 or fewer points) in underwriting decisions, and requires them to explain how rates are calculated - including whether non-driving factors were used - to policyholders online. The bill also mandates that insurers offer safe-driving discounts (potentially via telematics) and provide online tools for customers to compare coverage options and premiums. These changes directly affect New Jersey auto insurers and their customers, aiming to reduce unfair rate variations and improve consumer choice.