Experience with Cambridge Mutual Insurance? (Toms River, Northfield: home owners insurance, brokers, home)
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I'm switching my homeowner's insurance away from State Farm, as my rates have gone up $200 a year in each of the last 3 years, and I think it's excessive, since I have not made any claims, or needed to make any claims.
An independent insurance dealer recommended Cambridge Mutual, but I haven't really heard of them, and was wondering if anyone had any experience with them.
I'm switching my homeowner's insurance away from State Farm, as my rates have gone up $200 a year in each of the last 3 years, and I think it's excessive, since I have not made any claims, or needed to make any claims.
An independent insurance dealer recommended Cambridge Mutual, but I haven't really heard of them, and was wondering if anyone had any experience with them.
I'm not a huge fan of any of the insurance companies that contain "mutual" as their middle name as when it comes to paying claims.. they are typically anything but "mutual".
Try Liberty Mutual. Call direct don't use brokers. I found them to be very flexible and they structured the policy as no other company was willing to do. And oh, they were ~15% cheaper than other 6 comparisons for the "similar" level of protection that I got over the span of 4 days that it took me to make the decision.
Last edited by O-er in WO; 08-06-2009 at 08:25 AM..
Liberty Mutual won't insure me because they said that I'm coastal. I live in Toms River, closer to the GS Pkwy than I am to the water, yet I'm considered coastal.
First time I heard that from an insurance company in the 22 years that I'm living here.
Cambridge is rated "A+" by AM Best, the company that rates insurance companies, but just because I haven't heard of them, I don't want to make a mistake using the wrong company.
As far as the "Mutual" goes, what difference does that make? All insurance companies don't want to pay claims, they don't want to part with their money - even the big boys like Geico, Allstate, etc.. don't want to part with money. I just want legit coverage by not necessarily the cheapest, but a financially secure, reliable for customer service company that will cover someone with no claims in what seems to be a coastal area (even though I don't buy that).
I appreciate the response, however, you can only eligible to get NJ Manufacturers Insurance if you:
Are currently employed by a member organization of the New Jersey Business & Industry Association; or
Are currently employed by the State of New Jersey; or
Already have auto insurance with them.
I don't work for the state of NJ, I am not employed by a member organization of the NJ Business and Industry Association, and I don't have my auto insurance with them.
That make me, as well as most people, ineligible for their homeowner's insurance.
I really didn't expect this to be that difficult, and yet nobody responded to know anything about Cambridge Mutual Insurance.
In doing some more online checking, they are listed by the State of NJ Banking and Insurance Dept as eligible to sell insurance in NJ, and have a high rating from AM Best, and Standard and Poors.
Maybe I'll just go with them, since their quote was about half of what I was to pay State Farm, for better coverage.
You will get ~6-7 quotes from insurance co. and/or brokers. If brokers, ask what companies they are offering, you could always research those you never heard of as you have already done so far.
I already had filled out one of those online forms from another site and received responses, which is how I got the Cambridge Insurance quote, however your response has motivated me to try your recommended site, and I just received another quote very similar to Cambridge's quote from a local NJ insurer. I'd say your recommendation was quite good, and I appreciate it very much.
i HAVE HAD CAMBRIDGE MUTUAL FOR THIRTY FIVE YEARS. THEY ARE THE BEST. WE ONLY HAD A FEW CLAIMS BUT THEY SENT OUT ADJUSTERS IMMEDIATELY AND WE ALWAYS GOT PAID. OUR PROBLEM NOW IS THAT THE CO. *capital ins., who handled it for us has lost the account. We are looking for a new agent. Remember to pay your bill. They do not send out bills for partial payments. debbie v.
Quote:
Originally Posted by maestrosteve
I'm switching my homeowner's insurance away from State Farm, as my rates have gone up $200 a year in each of the last 3 years, and I think it's excessive, since I have not made any claims, or needed to make any claims.
An independent insurance dealer recommended Cambridge Mutual, but I haven't really heard of them, and was wondering if anyone had any experience with them.
Hey Maestrosteve, I realize this thread is a couple years old now. But I'm looking at swiching to Cambridge Mutual myself. I had a similar experience to yours in that Cambridge Mutual appears to be about half the price on the initial quote then SF. Did you end up going with Cambridge Mutual or did you go with the other local NJ company that you made a reference to? I'd appreciate knowing how it all turned out, as I have to make some pretty quick decisions on what company I'll be signing with. Oh BTW, I'm also classified as a coastal community (Northfield, NJ), 7 miles inland but apparently considered coastal by home owners insurance companies.
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Cambridge Mutual or ? Please, do tell.
Did you end up going with Cambridge Mutual or did you go with the other local NJ company that you made a reference to? I'd appreciate knowing how it all turned out, as I have to make some pretty quick decisions on what company I'll be signing with. Oh BTW, I'm also classified as a coastal community (Northfield, NJ), 7 miles inland but apparently considered coastal by home owners insurance companies.
