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I have to agree with the others that NJM is the greatest.
On another note, I presume if I move out of NJ/ PA I will have to give up NJM. I haven't checked with them because I can't bring myself to do it. They are what I will miss most about NJ if we leave!
NJM underwrites in PA for home and car. You will have to start a new policy
which means you have to have a perfect record (accidents, tickets)
In NJ, your medical inurance kicks as primary when you are involved in an accident with injuries. In PA, your Auto policy medical is primary.
I believe age, sex, parking location, driving distance, type of vehicle, options and your education are considered. White collar jobs get better rates.
BTW...NJ manufact... homeowners is an excellent policy also. I've been with them for 25+ yrs. two Claims...EXTREMELy fast responce...no hassle...payment within days !!! ...I highly recommend.
NJM sells two types of policys one is an HO2 it's a named peril policy you want an ho3
Saved Geico Customers a ton of money by switching from Geico
I sell auto insurance and people coming from geico have saved a ton of money switching to us Also be carful we see alot of Gieco policys coming in that have min PIP that's the med portion you don't know because they code it with letters if you have A you have the worst!
Also Here's an artical about Geico charging Blue Collar 40 % more for the same policy
Geico is charging 40 percent more nationwide to insure those with blue collar jobs and less formal education.
The nation's fourth largest automobile insurance company, Geico, charges a janitor with a high school diploma an average of forty percent more for car insurance than it charges a college-educated attorney. New Jersey Assemblyman Neil M. Cohen (D) introduced legislation yesterday to abolish the practice after stories appeared describing its effect on Garden State motorists. The rating method, however, is not limited to New Jersey. It is used in forty-three states with the nation's other top insurance companies under competitive pressure to adopt the same practice nationwide.
TheNewspaper examined Geico policies covering a 30-year-old male with a perfect driving record in Louisiana. By changing only the level of education in the online price quote system, we found a graduate of a four-year college paid $823 for insurance compared with the $1088 rate for having only a high school diploma or associates degree -- nearly a third more.
In California, we also found that one's job description played a significant role in the price paid. Again holding all of the variables constant, this time we changed the job description for each price quote. We found that an executive would pay $1054 for insurance, a technician $1182 and a clerk $1398 -- again, nearly a third more. By manipulating both the education and job status variables in Louisiana, one could pay in extreme circumstances 124 percent more.
Eric S. Poe, vice president of New Jersey Citizens United Reciprocal Exchange suggests there is no correlation between education or occupation and the likelihood of an individual getting in an accident.
"The insurance industry is not concerned about whether you will have an accident or not," Poe said. "They are concerned as to whether you will want to be compensated for that accident."
Poe works for a not-for-profit insurance provider that does not want to adopt Geico's scoring tactics to compete in the New Jersey market. He sees it as a thinly veiled means of avoiding state and federal restrictions on insurance scoring based upon race and income. He also sees it as a means of generating an accurate list of names for marketing purposes.
"Get the names of these rich individuals and sell them homeowners [insurance]," Poe said. "The most valuable list that anyone can sell is a list that is factual on affluent people."
Such marketing is key to Geico's success. Most people know of the company through its familiar advertising campaign. With $502 million spent on ads last year, Geico became the number one advertiser in the country. "And I can't wait to spend more," Geico parent company Berkshire Hathaway's chairman Warren Buffett wrote in a letter to shareholders.
The chart shows a sample of the different rates charged to white collar and blue collar employees in forty-three states.
Quote:
Originally Posted by HobokenGuy
I have Geico and pay 2100/year for a 2001, and my driving record is pristine.
Completely sickening.
Last edited by Insurance Man; 06-22-2007 at 01:43 PM..
your taking the state min - NJ has more lawsuits than grass Min should be 100/300 on the liablity and 100 on proporty UM should be the same that protects you
guys this is the coverage i am getting for a 2006, for $ 1500. is this the basic coverage that most of u get in nj, i am new to nj so was wondering if this would be right coverage for me, please let meknow
NJM is a good company the only thing is their is no agent and you never speak to the same person twice also Home owners policy lacking
Quote:
Originally Posted by UKOK
I have to agree with the others that NJM is the greatest.
On another note, I presume if I move out of NJ/ PA I will have to give up NJM. I haven't checked with them because I can't bring myself to do it. They are what I will miss most about NJ if we leave!
NJM is a good company the only thing is their is no agent and you never speak to the same person twice also Home owners policy lacking
This isn't true at all, I have and always speak to the same people there. the service is good, they pay claims quick and nobody can touch their rates.
But if you can't qualify they won't take you
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Check you Ho policy
