New Jersey Manufacturers Insurance Review & Complaints: Worker’s Compensation, Auto & Home Insurance (2023)

With over 100 years of experience, this regional insurance company has grown from a worker’s compensation provider to a leading local personal and commercial insurance company. The company provides personal and commercial insurance to cover damages and injuries from an accident for members of the New Jersey Business and Industry Association (NJBIA) and employees of specific public and private businesses.

What is NJM Insurance Company?

New Jersey Manufacturer’s Insurance, known as NJM Insurance, was founded in 1913 by a group of local factory owners. The company was designed to provide affordable worker’s compensation insurance from a local company.

Commercial auto was added to the product lineup in 1917, and in 1921 the New Jersey Manufacturer’s Fire Insurance Company was established to offer personal lines insurance.

After several more shifts, the company combined all of their lines of business under one name. The company is partnered with the NJBIA to provide types of coverage like commercial and personal insurance, to members and employees of member companies, making them a niche market insurer. They also write coverage for workers at other specific employers, including public school and federal government employees.

Products include worker’s compensation, commercial auto, personal auto, and home insurance. They are sold directly and are available in New Jersey and Pennsylvania.

What insurance products are offered?

NJM writes auto/home insurance for individuals and commercial auto and worker’s compensation business insurance. They also offer flood insurance through the National Flood program.

Is auto insurance offered?

NJM offers all of the basics of auto insurance with many options to choose from as add-ons on a personal auto policy. These include liability coverage, comprehensive coverage and collision coverage, and additional coverage options like GAP insurance, MedPay or personal injury protection (PIP) and more.

They advertise as a company offering high-quality policies rather than cheap policies, aligning themselves with some major insurers who frequently point out that better coverage and service is more important than the lowest rate.

In addition to a list of common discounts like a safe driver or multi-car discount, NJM also pays dividends to policyholders, at an average rate of 5% of the yearly premium each year. Special dividends are also paid when available based on company performance.

While it is usually an add-on option with most insurance companies, NJM includes roadside assistance free of charge with all of their auto policies. Not only do you get extra coverage at no additional expense, you also have the added peace of mind that comes while driving.

Is specialty vehicle offered?

NJM doesn’t write specialty vehicle coverage directly but does offer ATV and motorcycle insurance through a partnership with American Modern.

Is home insurance offered?

NJM writes homeowners insurance and renters insurance policies for eligible individuals.

In addition to the standard home insurance policy coverage for structure, personal property, and liability, NJM offers common add-ons such as scheduled personal property riders for high-value items, water back-up coverage, and credit card fraud coverage.

Like its auto insurance policies, home insurance policies are eligible for dividends that are paid out regularly. The company also offers a bundling discount for auto and home insurance of 15%.

Is worker’s compensation coverage offered?

NJM’s first product, worker’s compensation is available to eligible companies. As with the personal lines policies, these products pay dividends.

Are commercial auto policies offered?

NJM writes commercial auto insurance for qualifying businesses. Just like the personal auto insurance coverage, commercial policies include free roadside assistance, and also earn dividends.

Who qualifies for coverage?

As a niche insurer, customers must qualify for coverage with NJM. Personal and commercial qualification requirements differ slightly.

For Commercial insurance, the company must be a member of the New Jersey Business and Industry Association.

For Personal Insurance, applicants must meet one of these requirements:

• Employed by a member company of the NJBIA
• Employed by the state of New Jersey or a city, county, or township in New Jersey
• Employed by a New Jersey public school
• Employed by the federal government
• A current or previous named insured, resident, or vehicle operator on an existing or previous NJM policy

Are New Jersey Manufacturer’s Insurance rates affordable?

As a direct-buy insurance company also offering dividends to members, NJM is likely to be fairly competitive in terms of insurance costs; membership insurance companies often are since their risk pool comes with limits.

Are there consumer complaints against the company?

Although NJM is not accredited on the BBB, they have an A+ rating with the Better Business Bureau site, with a total of 24 customer service complaints in the past three years, 12 of which were in the past 12 months. Even for a smaller regional insurer, that is a low number of complaints.

Overall, there are very few complaints anywhere online about the company. There are also more positive reviews indicating customer satisfaction out there than we normally see, for an insurance company of any size. Even a couple of positive reviews are highly encouraging since few people write reviews of insurance companies when they are pleased with their service. As a result, they carry more weight.

What is the company’s financial strength rating?

Rating Company	Grade	Financial Outlook
AM Best	A+	Stable
Fitch	N/A	N/A
S&P	N/A	N/A

New Jersey Manufacturers Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

NJM Insurance offers multiple convenient methods for filing claims. Customers can file claims online, through the 24-hour phone line, or potentially via their mobile app for added ease and flexibility.

Average Claim Processing Time

While the article doesn’t provide specific information about the average claim processing time, NJM Insurance’s commitment to providing 24-hour access for claim filing suggests that they prioritize efficiency in processing claims. Customers may want to inquire directly with the company for more precise information.

Customer Feedback on Claim Resolutions and Payouts

The article does not contain direct customer feedback on claim resolutions and payouts. However, it does mention that there are very few complaints online about the company, indicating a potential positive track record in handling claims. Customers interested in learning more about the company’s claim resolution and payout experiences can consider seeking additional reviews and testimonials.

New Jersey Manufacturers Digital and Technological Features

Mobile App Features and Functionality

While the article mentions that NJM Insurance offers a mobile app, it does not provide specific details about the features and functionality of the app. Customers interested in the digital offerings of NJM Insurance can explore their official website or contact the company directly to learn more about what the mobile app offers in terms of managing policies and claims.

Online Account Management Capabilities

The article does not delve into the specific online account management capabilities provided by NJM Insurance. Interested customers can visit the company’s website or reach out to their customer service to gain a better understanding of the online tools available for managing policies, making payments, and accessing policy information.

Digital Tools and Resources

The article does not elaborate on the digital tools and resources provided by NJM Insurance. To explore the range of digital resources, such as educational materials, calculators, or policy management tools, customers can visit the official NJM Insurance website or inquire directly with the company for more information.

What’s the bottom line?

If you qualify for NJM insurance, they are well worth a look. The company has a strong reputation, with very few complaints, and offers both discounts and dividend payouts to their customers. With a long history in business, they are also a stable company. Although rates may not compare readily with major nationwide insurers, NJM is definitely worth considering, particularly for those who prefer a smaller, local insurance company.