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so i'm thinking, maybe they are subsidizing your cheaper rates with newer customers? I mean, I know you're more rural than me, but there's no way it's that big of a price difference - you're $500/car, i'm $1500/car?
i already said i have older cars. plus i've been driving longer and maybe I have a better record. no idea, but i've gotten costs passed onto me (like irene damage, etc).
I called around for rates as well (Currently with NJM with two new cars living in Hoboken, so my rate are horrible) but EVERY OTHER COMPANY was like 500-1000 MORE! The reason why? My husband has had multiple accidents/tickets over the past 3 years....
NJM does not increase your rates or drop you if you get into an accident or get tickets. I had 3 cars that needed work (one rear end, one hit a deer, last one hubby hit a car).
The dividend check isn't that great but it's something.
PS I worked for my dad who owned his own business in NJ. We joined NJM years ago for less than $200. Once I got my insurance we didn't renew NJM and I'm still insured with them.
if you work for certain companies, you can get NJM. i think it's any company based in NJ? or something like that. i work for a company that qualifies, which is why my coworker got the quote. i've heard good things about them, but if i can get cheaper from Geico, i'm not sure it's worth moving. I'm in big time cost-cutting mode, and i despise insurance companies, so I'm looking to trim every dollar from those as possible. I dropped towing coverage even though it's like $10/yr, cause I already have AAA. I'm contemplating dropping rental car coverage which is another $30ish per car, so $60 in my case. It was nice when we only had 1 car, but I'm not sure I need to rent a car now if one car is out of commission.
I know this is a little off topic, but if you want to really cut costs, look at your cable and cell phone bills.
ok - so i got a quote from NJM on auto - $2,921/yr. That's a tad over $1,000 what Geico gave me.
Are the claim amounts and deductions the same? I say go for Geico then, if that works for you. I've never had a problem with NJM insurance, so I never thought to look elsewhere. They've been a good company.
At the end of the year, NJM insurance holders get a rebate back based on the amount of claims for that year. So the percentage can change from year to year.
There used to be some special qualification to get NJM insurance, too.
Those qualifications still exist.
You have to be employed by a company that is a member of the NJ Business & Industry Association.
Once you have coverage from NJM, even if you change jobs or retire, you can retain your coverage, so your access to their low prices and great customer service don't end when your, "qualified", job ends.
I called around for rates as well (Currently with NJM with two new cars living in Hoboken, so my rate are horrible) but EVERY OTHER COMPANY was like 500-1000 MORE! The reason why? My husband has had multiple accidents/tickets over the past 3 years....
NJM does not increase your rates or drop you if you get into an accident or get tickets. I had 3 cars that needed work (one rear end, one hit a deer, last one hubby hit a car).
The dividend check isn't that great but it's something.
That's the first I've heard of that happening. Do you know, if there were a lot of claims or were the claims particularly serious/costly?
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