UPDATED: Mar 13, 2020
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NJM Auto Insurance: Offering Coverage for Qualified Workers in PA and NJ
AutoinsuranceEZ.com Rating:Back when the company originally started, New Jersey Manufacturer (NJM) insurance was meant to help workers find affordable workers compensation insurance. But the company has been through several changes since it was formed in 1913. Today, they have expanded to the point where they now offer auto insurance, commercial automotive insurance, homeowner’s and renter’s insurance to property owners who need them – if they fit the employment requirements, that is. In order to qualify for a policy, your current employer must be a member of the New Jersey Business & Industry Association.
NJM Insurance Review
It appears as though NJM is strong both in its financial standing and with its customer service. AM Best has evaluated their financial strength and deemed them to be A+, or “superior”. And as far as customer service goes, they have very high ratings from JD Power as well as the BBB, with very few complaints filed against them.
|AM Best Financial Strength Rating (2016)||A+|
|JD Power & Associates Rating||5 out of 5|
|Complaint Ratio per Vehicle (NJ, 2012)||0 / 817,632|
|NAIC Complaint Index (2012)||0.13|
|Better Business Bureau (2016)||A+|
NJM Insurance Discounts
In addition to offering discounts on its auto policies, NJM insurance also pays out dividends to their customers. Their dividend system works similarly to a rebate in that at the end of every 12-month period, they apply your dividend to the premiums of your next policy. This helps make future premiums even more affordable, in addition to the discounts they offer.
|Discount Type||Discount Amount|
|Bundled Homeowner’s Insurance Policy||5%|
|Anti-Theft Discount||5 – 25% on Comprehensive premium|
|Defensive Driving Course (NJ)||5% for up to three years|
|Mature Driver Improvement (PA)||5% for up to three years|
NJM Auto Insurance Options
NJM policies are specially crafted to conform to the driving laws in the state of New Jersey, and to give drivers the options they need for optimal protection. If you are eligible to purchase an auto policy from NJM, your basic plan will include the following:
- Roadside Assistance
- $15,000/$30,000 Bodily Injury Liability coverage
- $5,000 Property Damage Liability coverage
- $15,000/$30,000 Uninsured/Underinsured Motorist Bodily Injury coverage
- $5,000 Uninsured/Underinsured Motorist Property Damage coverage
- $15,000 PIP coverage
For details on other popular forms of coverage, such as Collision and/or Comprehensive coverage, you’ll have to get in touch with an NJM insurance agent. Policy holders also have the option of raising or lowering their deductible depending on what their needs are.
Comparing NJM Insurance Quotes
NJM claims that their customers can save 20% over their competition when you purchase their automotive insurance policy. If you’re thinking about getting a policy from JNM, take a look at the estimated quotes below for comparison:
Also, keep in mind that various personal circumstances, such as your credit score or your driving record, can make your premiums go up. In extreme cases, they could eliminate your eligibility for coverage. If you’re concerned about your eligibility, then you should talk to an NJM agent about which circumstances might disqualify you.
Pros and Cons of NJM Insurance
|Competitive car insurance rates and offerings||Insurance only available to employees of select organizations|
|High satisfaction with claims processing and coverage||Coverage only available in New Jersey and Pennsylvania|
NJM seems like a pretty solid company. They have a reputation for good customer service, as well as a strong financial foundation. However, it may be difficult to find an agent willing to sell you a policy. The company only underwrites automotive insurance in NJ and PA, and you must be an employee of a business which belongs to the NJBIA. But if you live in the right state and your employment status qualifies you for an NJM insurance policy, just make sure you compare their prices to other providers in your area. It’s the only way to make sure you’re getting a fair rate.Corporate Headquarters
301 Sullivan Way
West Trenton, NJ 08628