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Old 03-04-2016, 07:43 PM
 
239 posts, read 467,726 times
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Does anyone have any recommendations for insurance companies that have reasonable premiums. Insurance in New Jersey has always been high but ever since Sandy premiums continue to go up even for those of us that wheren't affected and never had a claim. I know that if you bundle auto and homeowner's you can also save. I am open to any suggestions you may have.
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Old 03-05-2016, 06:28 AM
 
19,113 posts, read 25,305,043 times
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If you are eligible for coverage by NJM Insurance, getting both your car coverage and your home coverage from them would be your best bet.

I have had NJM insurance on my car for over a decade, and my premium has decreased twice over the past couple of years. I tried to get home coverage from them, but because they are so incredibly risk-averse, they rejected me for homeowner's insurance because there is a farm directly in back of my property. I have no idea why the presence of a farm makes me a higher-than-average risk, but NJM thinks so, and their decision is final.

For my home coverage, I have used Mercer Insurance for over a decade, and despite getting a payout from them of over $8k for Hurricane Sandy damage, my rates have stayed relatively stable. The year after the payout, there was no rate increase at all, and my total increase over the past two years is ~15%. While I would prefer NJM, I am very satisfied with the service provided by Mercer Insurance and with their rates.


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Old 03-05-2016, 12:51 PM
 
862 posts, read 974,420 times
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new jersey manufacturers, njm is the way to go if you qualify.
auto and homeowners together, even better.
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Old 03-06-2016, 06:47 PM
 
Location: NJ
12,283 posts, read 35,675,525 times
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Expensive? I think it's pretty cheap. I want to say mine is about $450/yr for a house worth about $450k. I've heard of premiums in other states in the thousands. I have NJM. My premium has gone up bc of Sandy even though I had no damage nor claims.
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Old 03-07-2016, 12:37 PM
 
789 posts, read 702,371 times
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Quote:
Originally Posted by tahiti View Post
Expensive? I think it's pretty cheap. I want to say mine is about $450/yr for a house worth about $450k. I've heard of premiums in other states in the thousands. I have NJM. My premium has gone up bc of Sandy even though I had no damage nor claims.
I'm in "escape from NY" mode in the boroughs. Looking at NJ/CT/LI for the escape. I pay just under $3k for a 2fam house worth about $700k-$800k.
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