NJM insurance review 2025

NJM car insurance cost

The average annual cost of NJM car insurance is $1,014 for minimum coverage and $2,147 for full coverage. This is quite a bit lower than the national average cost of car insurance, which is $808 for minimum coverage and $2,692 for full coverage. NJM also comes in lower than the national average across a range of different rating factors, including having a speeding ticket conviction and insuring a 16-year-old driver. However, your premium will likely differ from the average based on your own unique combination of rating factors.

How much is NJM car insurance?

Auto insurance companies may consider more than a dozen factors to determine your premium, and your driving record is typically among the most significant. Incidents such as a recent at-fault accident or speeding ticket conviction usually increase your car insurance rates. If you have a DUI conviction on your record, you’ll need to shop more cautiously. Not all insurers write policies to drivers with DUIs.

NJM car insurance quotes by age

Because of their lack of experience behind the wheel and higher likelihood of being involved in an accident, younger drivers generally pay more for their car insurance coverage. Teens, especially, tend to see elevated rates, but remaining on a parent’s policy can help bring rates to a more affordable level. Below, we’ve rounded up average NJM rates by age for drivers with clean driving records.

Compare NJM car insurance rates

Car insurance rates can significantly differ from one company to another based on differing underwriting algorithms and various factors including driving history, vehicle type and coverage choices. When comparing NJM's rates to those of other big-name providers, it's notable that NJM's rates for full coverage are generally lower. This positions NJM as a competitively priced option for those seeking comprehensive protection on the road.

NJM customer satisfaction

When selecting auto insurance, it's important to consider more than just the pricing. Third-party customer satisfaction ratings, such as those from J.D. Power, can offer insights into an insurer's performance, particularly in areas like claim processing, customer service and overall transparency. NJM’s commendable financial strength rating from AM Best indicates a robust capacity to meet claim obligations, highlighting its reliability as an auto insurance provider. These ratings can be helpful references when evaluating potential insurers.

NJM auto claims satisfaction

Since NJM is a regional insurer that only operates in five states, J.D. Power did not include the company in every region of its 2024 U.S. Auto Insurance Study. However, in the region NJM was included, Mid-Atlantic, it earned a score of 711 out of 1,000. This earned the company a second place rank, behind only Erie Insurance. In the J.D. Power 2023 U.S. Auto Claims Study, the company came in third place overall with a score of 900 out of 1,000.

NJM auto insurance customer complaints

NJM car insurance discounts

NJM auto insurance offers a wide variety of car insurance discounts that might help you lower your premium. A local agent may help you determine what discounts apply to you by discussing your circumstances and plans. In addition to offering some of the most popular car insurance discounts such as multi-car, bundling and paid in full, featured discounts from NJM include:

• Full coverage: NJM may reward customers for purchasing a more robust policy. If you buy both comprehensive and collision coverage, you could receive a discount.
• New car: If your vehicle is within two model years, you might save on your premium.
• Mature driver: Drivers who reach a qualifying age and take an approved driving course might get a discount on their car insurance. Mature driver discount availability and requirements may vary by state.
• Electronic payment: Enrolling in automatic electronic payments could help you save on your NJM car insurance.

Even though NJM is only available in a few states, the discount qualifications and availability do vary by location. Checking with an agent or NJM representative may help you determine which savings opportunities you qualify for.

NJM home insurance cost

NJM home insurance costs, on average, $752 per year for a policy with $300,000 in dwelling coverage. This is significantly lower than the national cost of home insurance, which is $2,329 on average for the same coverage. NJM’s average premiums are consistently lower than the national average across a range of different coverage levels, but keep in mind that your own premium may vary based on your individual circumstances.

Compare NJM homeowners insurance rates

Homeowners insurance rates vary widely among providers, influenced by factors like location, property value and the level of coverage desired. NJM stands out for its homeowners insurance rates, which are notably lower compared to many big-name competitors. This affordability, combined with its range of coverage options, makes NJM an attractive choice for homeowners looking for quality insurance without the high costs typically associated with comprehensive coverage.

NJM customer satisfaction

Bankrate’s team knows that price isn’t everything when it comes to having good coverage. Although no one looks forward to filing an insurance claim, it’s important that your insurer is communicative and transparent throughout the claims process if you ever need to utilize your policy. That’s why we included third-party customer satisfaction ratings in our NJM insurance review to provide a broader view of their service quality. For home insurance specifically, interpreting these third-party ratings can give potential policyholders insight into an insurer's reliability, customer service and claim resolution efficacy, offering a more comprehensive understanding of what to expect.

NJM homeowners claims satisfaction

Although NJM was not included in the 2024 J.D. Power Digital Experience Study or the 2024 Property Claims Satisfaction Study, it did receive a strong rating from AM Best for financial strength. This indicates that NJM has strong financial backing and a history of being able to pay out customer claims.

NJM home insurance customer complaints

NJM home insurance discounts

In addition to offering cheap average premiums, NJM offers a range of home insurance discounts. Some of the more unique discounts offered by NJM include:

• Storm shutter and hurricane glass: Some of the states that NJM sells insurance in experience strong storms and hurricanes. If your home is equipped with safety features, such as shutters and hurricane glass, you may qualify for this discount.
• Backup or portable generator: If you own a portable generator, NJM may reward you with a discount on your premium.
• Nonsmoker: With NJM, it doesn’t matter if you’ve never been a smoker or if you only recently quit. As long as you don’t currently smoke, you could save on your home insurance.
• Age 65 and over: If you are over 65 years old, you could get a discount on your NJM home insurance policy.

As with auto insurance, not all of NJM’s discounts apply to residents in all five of the states it services. Additionally, eligibility may vary, so working directly with an NJM agent is likely the best way to identify savings opportunities.

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. These are sample rates and should only be used for comparative purposes. Your quotes will differ.

If otherwise specified, the base profile has been modified with the following driver characteristics:

Bankrate Score

Our 2025 Bankrate Score for auto insurance considers key variables that our insurance editorial team determined impact policyholders’ experiences with an insurance company. These factors include a robust assessment of each company’s cost of coverage, product availability, financial strength ratings, online capabilities and customer and claims support accessibility. We grouped these factors into three essential categories — cost and ratings, coverage and savings, and support — which we then weighted in a tiered approach. 

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto insurance companies satisfy these priorities, our team analyzed quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the National Association of Insurance Commissioners (NAIC). 
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated the discount options listed on each company’s website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored in a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Bankrate Score

• Tier 1 (Cost & ratings): To determine how well home insurance companies satisfy these priorities, our team analyzed average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the National Association of Insurance Commissioners (NAIC).
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored in a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.