NJM Car and Home Insurance Review
- Cheap home insurance rates
- Affordable full coverage car insurance
- Covers exotic cars
- Many discounts
- Good financial strength
- Only available in five states NJM is available in Connecticut, Maryland, New Jersey, Ohio and Pennsylvania.
- Liability car insurance is higher than average
Is NJM a good company?
NJM is a good company if you want cheap home insurance or full coverage car insurance. Its liability car insurance rates are higher than the national average, though.
Another reason to consider NJM is that its customers seem pretty happy with it. J.D. Power
NJM also has an A+ rating
How much is NJM car insurance?
NJM’s annual average rate is $1,034 a year for liability car insurance and $1,877 a year for full coverage car insurance.
To compare, NJM’s liability-only
NJM car insurance comparison
| Company | Full coverage | Liability | LendingTree score | |
|---|---|---|---|---|
 | Erie | $1,375 | $516 |  |
 | State Farm | $1,604 | $661 |  |
 | Auto-Owners | $1,740 | $632 |  |
 | Travelers | $1,806 | $792 | |
| NJM | $1,877 | $1,034 | |
 | Farm Bureau | $1,911 | $637 | |
 | American Family | $2,019 | $751 | |
 | Progressive | $2,078 | $801 | |
 | Geico | $2,109 | $797 |  |
 | Nationwide | $2,402 | $1,024 |  |
 | Amica | $2,784 | $1,120 | |
 | Allstate | $2,960 | $1,344 | |
 | AAA | $2,988 | $1,086 |  |
 | The Hartford | $3,186 | $1,229 |  |
 | Farmers | $3,462 | $1,363 | |
 | USAA* | $1,322 | $437 | |
What you pay for car insurance depends on factors like your driving record, age and, in most states, your credit. It’s good to compare car insurance quotes from a few different companies to avoid overpaying.
NJM car insurance cost for a bad driving record
NJM’s average full coverage rate for a driver with a speeding ticket on their record is $2,506 a year. The company’s car insurance rate after an accident is $2,047 a year, while its average rate for drivers with a DUI conviction is $2,506 a year.
NJM average annual rate by incident
| Company | Clean record | Ticket | Accident | DUI |
|---|---|---|---|---|
| Erie | $1,375 | $1,551 | $1,806 | $2,404 |
| State Farm | $1,604 | $1,755 | $1,846 | $3,901 |
| Auto-Owners | $1,740 | $1,883 | $2,400 | $3,719 |
| Travelers | $1,806 | $2,319 | $2,524 | $2,737 |
| NJM | $1,877 | $2,506 | $2,047 | $2,506 |
| Farm Bureau | $1,911 | $2,156 | $2,586 | $3,924 |
| American Family | $2,019 | $2,414 | $3,191 | $3,368 |
| Progressive | $2,078 | $2,728 | $3,102 | $2,656 |
| Geico | $2,109 | $2,763 | $3,634 | $5,067 |
| Nationwide | $2,402 | $3,178 | $3,853 | $5,332 |
| Amica | $2,784 | $2,987 | $4,313 | $9,749 |
| Allstate | $2,960 | $3,513 | $4,709 | $4,680 |
| AAA | $2,988 | $3,954 | $5,205 | $6,962 |
| The Hartford | $3,186 | $4,254 | $4,945 | $4,882 |
| Farmers | $3,462 | $4,589 | $5,535 | $5,307 |
| USAA* | $1,322 | $1,603 | $1,809 | $2,576 |
NJM auto insurance rates for teens
NJM’s average rate for car insurance for an 18-year-old driver is $2,446 a year for liability coverage and $4,906 a year for full coverage.
NJM average car insurance rate for 18-year-old drivers
| Company | Full coverage | Liability |
|---|---|---|
| Erie | $3,108 | $1,144 |
| NJM | $4,096 | $2,446 |
| Farm Bureau | $4,371 | $1,715 |
| State Farm | $4,577 | $2,082 |
| Auto-Owners | $4,839 | $2,125 |
| Co-Op | $5,527 | $1,324 |
| Geico | $5,590 | $2,249 |
| Travelers | $5,978 | $2,737 |
| American Family | $6,385 | $2,684 |
| Nationwide | $8,214 | $3,717 |
| Progressive | $8,434 | $3,111 |
| Allstate | $8,547 | $3,939 |
| The Hartford | $9,080 | $2,991 |
| Amica | $9,943 | $4,272 |
| Farmers | $11,931 | $5,377 |
| USAA* | $3,188 | $1,146 |
NJM car insurance discounts
NJM offers several car insurance discounts to help you reduce your insurance costs. These include discounts for:
- Bundling your car and home insurance
- Covering two or more cars on your policy
- Insuring a car two models old or less
- Paying your premium in full
- Enrolling in electronic payment
- Going paperless
- Equipping your car with safety features
- Taking a driver training course*
- Completing an approved defensive driving course
- Maintaining a 3.0 GPA in school
NJM car insurance coverage
On top of offering standard liability and full coverage car insurance packages, NJM also offers an extensive range of exotic car insurance, including coverage for:
- Antiques
- Kit cars
- Race cars
- Street rods
- Vintage trucks
NJM full coverage policies also include limited pet coverage, new car replacement and transportation expenses.
How much does NJM home insurance cost?
NJM charges $1,137 a year for homeowners insurance, on average. This is 59% cheaper than the national average rate of $2,801 a year.
Home insurance rate by company
| Company | Annual rate | LendingTree score |
|---|---|---|
| NJM | $1,137 | |
| Erie | $2,055 | |
| State Farm | $2,427 | |
| Allstate | $2,560 | |
| Nationwide | $3,055 | |
| American Family | $3,072 | |
| Travelers | $3,149 | |
| Farmers | $3,801 | |
| USAA* | $2,507 | |
NJM’s home insurance discounts
NJM offers a good range of discounts to help you lower your home insurance costs. You may save money with NJM for:
- Bundling
- Being 65 or older
- Not smoking
- Installing a fire system
- Owning a backup or portable generator
- Installing impact-resistant windows
- Paying in full
- Enrolling in automatic payment
- Going paperless
What does NJM homeowners insurance cover?
An NJM home insurance policy covers:
-
Dwelling
This includes the structure of your home, as well as attached structures. -
Other structures
Standard policies also cover external structures, such as unattached garages, patios or sheds. -
Personal property
Your belongings like clothes, furniture and electronics are covered, too. -
Loss of use
This helps pay temporary living costs if you need to move out of your rental home while it’s being repaired or rebuilt. -
Personal liability
Covers injuries to other people and damage to their property. -
Medical payments
Helps with medical bills if someone is injured on your property.
Methodology
LendingTree uses insurance rate data from Quadrant Information Services using publicly sourced insurance company filings. Car insurance rates are based on an analysis of hundreds of thousands of quotes for a typical driver. Your own rates may be different.
Unless noted otherwise, car insurance quotes are for a full coverage policy for a 30-year-old man with good credit and a clean driving record who drives a 2015 Honda Civic EX. Our sample teen driver is an 18-year-old male with a clean driving record.
Full coverage car insurance policies include collision, comprehensive and liability coverage:
- Bodily injury liability: $50,000 per person, $100,000 per accident
- Property damage liability: $25,000
- Uninsured motorist: $50,000 per person, $100,000 per accident if required in that state
- Personal injury protection: Minimum limits if required in that state
- Collision: $500 deductible
- Comprehensive: $500 deductible
Homeowners policies include:
- Dwelling coverage: $400,000
- Other structures: $40,000
- Personal property: $200,000
- Personal liability: $100,000
- Medical payments: $5,000
- Deductible: $1,000
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Our team of insurance experts rated insurance companies based on several categories. These categories include average rates, discounts, coverage options, third-party customer service ratings and app/website experience. We weighted these categories based on what customers value in an insurance company.
For third-party customer service ratings, we included complaint index scores from National Association of Insurance Commissioners (NAIC) and financial strength ratings from AM Best. NAIC complaint index scores are used to determine how satisfied customers are with their claims, while financial strength ratings from AM Best reflect the ability to pay out claims.
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*USAA only offers insurance products to military members and their families