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NJ Manufacturers 2019 Auto Insurance Review: Rates, Claims Satisfaction, and Coverage

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Summary:  

Founded in 1913 to provide workers compensation insurance, NJ Manufacturers (NJM) is a mutual insurance company that pays its policyholders dividends.  Its policies are only available in New Jersey and Pennsylvania. Furthermore, you must be employed by the State of New Jersey or one of the New Jersey Business & Industry Association member organizations of which there are over 22,000 organizations.  Because of its rates and excellent claims satisfaction ratings, NJM is an excellent company for people who qualify.

Pros:

  • The company is known for a high level of claims satisfaction.
  • NJ Manufacturers’ premiums are often cheaper than the state average.
  • The years that NJ Manufacturers has been ranked by J.D. Power for claims satisfaction it is always at the top of the pack.
  • Rated an A++ by A.M. Best for financial strength.
  • According to the National Association of Insurance Commissioners, NJM is among the best on their complaint index.
  • Also offers property insurance, business insurance, and umbrella insurance.
  • In 2018, NJM received the J.D. Power Auto Claims Certification for an Outstanding Auto Claims Experience.  It was the very first recipient.

Cons:

  • Only provides insurance to customers in New Jersey and Pennsylvania.
  • Only employees of certain organizations are eligible for insurance.

NJM offers auto insurance, property insurance, business insurance, and umbrella insurance exclusively to employees of the State of New Jersey and one of its Business and Industry Association organizations.  The also offers worker’s compensation insurance. It has one of the highest claims satisfaction ratings in the industry and a very low complaint ratio. Thus, drivers who qualify may want to look into obtaining insurance from this company.

The Valuation Equation ($$$)

The cost of car insurance is one of the most important factors to consumers when they are shopping for car insurance.  NJM bases your rates on many of the same criteria as other larger auto insurance companies including your age, your address, your marital status, gender, the make, model, and year of your vehicle, your coverage options, and your driving history.

To get a quote from NJ Manufacturing, you can go online or you can call 1-844-804-6903.

Here is a glimpse of how NJ Manufacturers Insurance compares with two other major insurance companies.

 NJM21st CenturyLiberty Mutual
Married Couple in their 40s$2,011$1,610$1,553
Senior Married Couple (60s)$1,125$1,015$1,149
35-year old Single Male$1,240$1,281$1,662
25-year old Single Male$1,378$1,465$1,845

Thus, NJ Manufacturers’ rates are competitive with other auto insurance companies such as 21st Century and Liberty Mutual although slightly higher in some categories.  However, when dividends are paid out, this may bring NJM’s price down below its competitors in categories in which they are close.

To have a comprehensive comparison of car insurance rates in different dimensions, see our special analysis of car insurance rates of the top 18 companies.

Discounts

NJM offers a few discounts for which its policyholders may qualify.  These discounts include:

  • Home and Auto Bundle
  • Multi-Car Discount
  • Anti-Theft Discount
  • Driver Training
  • Defensive Driving
  • Good Student

Like with other auto insurance companies, the discounts that you qualify for with NJ Manufacturers are mostly determined when you obtain the policy.  You can add discounts you become eligible for to save on your rate. And similar to other larger car insurance companies, you probably need to remain qualified for the discounts that you receive throughout the life of the policy in order to continue receiving the discount.

Claims Satisfaction

An auto insurance company’s claims satisfaction rating is as important as price when shopping for qualified auto insurance.  NJM is known for its excellent claims satisfaction rating.

How easy is it to file a claim with NJ Manufacturers?

How satisfied NJM’s customers are when they have to make a claim?

Each year, J.D. Power surveys an estimated 10,000 customers who have filed a car insurance claim in the past six months in order to gauge how satisfied consumers are with the way their claim was handle with their insurance company.  J.D. Power then ranks the insurance providers on a 1000-point scale based on survey results. NJM does not appear on J.D. Power’s survey every year. However, the years when the company has been surveyed, it was always near the top of the list.  Additionally, J.D. Power gave NJM 5 out of 5 stars. Furthermore, in 2018 NJM was the first recipient of the J.D. Power Auto Claims Certification for an Outstanding Auto Claims Experience.

Moreover, according to the National Association of Insurance Commissioners, NJM has a very low complaint index ratio compared to auto insurance companies of its size as well as larger companies.  In fact, there are some years that the company has no complaints filed at all.

Coverage Options

There are only two basic coverage options and an additional coverage that are listed on the website.  These are:

  • New Jersey No-Fault Coverage
  • New Jersey Personal Injury Protection
  • Roadside Assistance

(In Pennsylvania, you can get No Fault Coverage and Pennsylvania First Party Benefits.)

Other Insurance

In addition to traditional vehicles, NJM also insures classic and collector cars, motorcycles and ATVs, boats and personal watercraft.  

NJM also offers property insurance.  The types of property insurance that the company offers includes homeowners insurance, condo insurance, renters insurance, and flood insurance.

Business owners can purchase commercial business insurance from the company.  The types of commercial business insurance that NJM offers includes commercial auto and workers compensation.

The company also provides umbrella insurance.

Website Experience

NJM offers a nice fully functional website which tells you which insurance products the company offers, your coverage options and discounts, and provides educational articles about insurance.  On the website, you can get a quote and log into your account to view and manage your policy. You can also make a payment and file a claim online.

The Bottom Line

  • NJ Manufacturers is known to have an excellent claims satisfaction rating.  It also has tremendous financial strength, rated an A++ by A.M. Best.
  • In 2018, NJM received the J.D. Power Auto Claims Certification for an Outstanding Auto Claims Experience.  It was the very first recipient.
  • The largest negative factor about NJ Manufacturing is that it is only available in two states and you must be employed with the State of New Jersey or one of its Business and Industry Association organizations.
  • The company offers several other types of insurance including property insurance, business insurance, umbrella insurance, and workers compensation.
  • This auto insurance company is an excellent choice if you qualify.
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