NJM Car and Home Insurance Review
$1,877 a year
$1,137 a year
- 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?
Another reason to consider NJM is that its customers seem pretty happy with it. J.D. Power J.D. Power’s satisfaction scores are based on customer surveys rating companies on factors like price, coverage options and problem resolution. gave NJM a score of 711 out of 1,000 in its 2024 U.S. Auto Claim Satisfaction Study, for example. That’s the second-highest score in the Mid-Atlantic region after Erie (713). This means customers are pleased with how NJM resolves car insurance claims.
NJM also has an A+ rating Lenders often require your home insurance company to have a B or better rating from AM Best, or a comparable rating from another agency. for financial strength from AM Best, which means it is well positioned to pay out on claims.
How much is NJM car insurance?
To compare, NJM’s liability-only Liability insurance covers injuries and damage you cause to other people and their property. It’s required by law in almost every state. rate is 25% higher than the national average of $829 a year, and its full coverage Full coverage includes collision and comprehensive, which cover your own car for damage and theft. They are not required by law, but you need both for a car loan or lease. rate is 11% cheaper than the national average of $2,101 a year.
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 | |
*USAA only sells insurance to military members and their families
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?
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.