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Postby Lofunzo » Tue Jul 12, 2005 10:32 pm

SHOCKandAWE wrote:
SHOCKandAWE wrote:
Lofunzo wrote:Shock.......What do you think of NJM?? They are exclusive here but they seem to be the best around.


Being from PA I am not familiar with New Jersey Manufacturers

I can only sell insurance in PA so I usually only run up against companies such as GEICO, ERIE, ALL STATE, NATIONWIDE, USAA to name a few


I just checked out their website and realized that they actually sell in Eastern PA near Philly.

I can tell you that NJ itself has some major insurance issues that they need to deal with. For the longest time most insurance companies had their hands tied when it came to rates.

if you have 5 accidents you paid the same for insurance as someone that had a clean record. This was making it difficult for the top insurance companies to correctly price their rates. Imagine tell your client that never had an accident that they are paying the same as the guy that just got into 3 accidents in 12 months. <img src=/forums/images/smiles/kiss.gif>


That's a little odd because I used to work for companies that handled all of the high-risk drivers. It was basically us or no one. Our insureds were paying a ton. It was run through the JUA and MTF.
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Postby SHOCKandAWE » Tue Jul 12, 2005 10:35 pm

Lo: here is some information about Insurance Reform in NJ.

Governor's Auto Insurance Reforms Materialize


Governor McGreevey's Auto Insurance Reform initiative is showing real progress in making auto insurance more accessible and affordable.
United Services Automobile Association (USAA) voluntarily lowered insurance rates for 139,000 New Jersey policyholders
Effective 12/1, overall rates were reduced 4.8%
he average driver saved $56 per vehicle.
New Jersey Manufacturers Insurance Company voluntarily lowered insurance rates for 595,000 New Jersey policyholders
Effective 6/1/04, overall rates will be reduced -0.8%
State Farm decided to STOP dropping 4,000 policy holders each month
Thousands of NJ drivers are not going to be forced to shop for insurance
40,000 vehicles that would have been randomly dropped by State Farm will retain coverage
Real results and tangible signs that progress in auto insurance reform is being achieved
State Farm just lowered insurance rates to more than 500,000 thousand New Jersey policy holders
Effective 10/15/2004, overall rates will be reduced by 4.1%
$38 million will be returned to policyholders in the form of rate reductions. Policyholders will save as much as $70.
This is real results from the Governor's Auto Insurance Reform initiative
State Farm lowers insurance rates again
Effective May 1, 2003, overall rates will be reduced again by 5.1%
Another $38 million will be returned to policyholders in the form of rate reductions, resulting in a $70 savings for policyholders.
New auto insurance company coming to New Jersey for the first time in 7 years
Mercury Insurance, a large insurer on the west coast, is moving into New Jersey and hiring 50 agents to write auto insurance policies - mostly in our underserved urban areas
Help ease the accessibility problem people in getting an insurance policy
More results from Governor McGreevey's auto insurance reform iniative
Allstate is expanding in operations in New Jersey
Hiring five new agents who can write coverage for more than 20,000 New Jersey drivers.
Allstate President Richard Crist credits the change in New Jersey to the Governor's reform package. "The New Jersey auto insurance market is changing, and we've gone from fighting red tape to fighting competition."
State Farm lowers insurance rates again
Effective May 1, overall rates will be reduced again by 5.1%
Another $38 million will be returned to policyholders in the form of rate reductions, resulting in a $70 savings for policyholders.
Created the Special Auto Insurance Policy to help reduce the ranks of the uninsured.
The "Dollar-a-Day" policy makes $15,000 worth of emergency room coverage available for $360 a year, or $365 if purchased in two six-month installments. This policy is available only to those drivers eligible for federal Medicaid.
Unveiled a number of consumer initiatives to help drivers understand their insurance options and rights when shopping for auto insurance.
Launched the Auto Insurance Purchasing Planner, an online program to help New Jersey consumers understand the choices they need to make about the coverage they want and how much they want to pay for that coverage.
Adopted regulations requiring insurers to provide three separate price quotes and inform consumers of their rights under the law when shopping for auto insurance.
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Postby Mercer Boy » Tue Jul 12, 2005 10:38 pm

SHOCKandAWE wrote:Being from Mercer I am sure I know who your agent is. Stauffer or Campbell?


Well, it used to be some dude named DeAngio...I don't know who it is now. It's whoever is across from the hardware store. :-b

I just found my statement thing. It looks like it's a Mr. Neil Campbell. ;-D

I still pay like over $900 a year for full coverage for this Neon of mine. :-P You need to let me in on some price-cutting secrets! ;-D

On another side note, my friend that works for LM just switched back to Erie because it was cheaper. I guess their super customer service department wasn't worth what he was paying for it (plus employee discount). :-D
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Postby SHOCKandAWE » Tue Jul 12, 2005 10:39 pm

NJ as a whole State had VERY high premiums. Now with the reform I expect the NJ insurance market to be competitive and should result in price slashing from most large carriers.
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Postby SHOCKandAWE » Tue Jul 12, 2005 10:41 pm

Mercer Boy wrote:
SHOCKandAWE wrote:Being from Mercer I am sure I know who your agent is. Stauffer or Campbell?


Well, it used to be some dude named DeAngio...I don't know who it is now. It's whoever is across from the hardware store. :-b

I just found my statement thing. It looks like it's a Mr. Neil Campbell. ;-D

I still pay like over $900 a year for full coverage for this Neon of mine. :-P You need to let me in on some price-cutting secrets! ;-D

On another side note, my friend that works for LM just switched back to Erie because it was cheaper. I guess their super customer service department wasn't worth what he was paying for it (plus employee discount). :-D


PM me your coverages and I will see if there is anywhere you can cut some costs? They first thing I would do it consolidate your Home or Renters insurance with SF to make sure you are getting the discounts. Having homeowners automatically cuts the Auto by 15%.
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Postby Lofunzo » Tue Jul 12, 2005 10:41 pm

SHOCKandAWE wrote:NJ as a whole State had VERY high premiums. Now with the reform I expect the NJ insurance market to be competitive and should result in price slashing from most large carriers.


Well, I put the cars in my name and got insurance on my own. I was trying to get Mercury Insurance as I heard that they were good but the agent was a nitbag and didn't call me back. I got GEICO on the 1st day that they started writing policies in N.J. and I actually saved around $500 from what Mercury would have been. ;-D

My GF also insured her brand new Corolla with them and she is paying like $1,000/year with full coverage.
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Postby SHOCKandAWE » Tue Jul 12, 2005 10:46 pm

Lofunzo wrote:
SHOCKandAWE wrote:NJ as a whole State had VERY high premiums. Now with the reform I expect the NJ insurance market to be competitive and should result in price slashing from most large carriers.


Well, I put the cars in my name and got insurance on my own. I was trying to get Mercury Insurance as I heard that they were good but the agent was a nitbag and didn't call me back. I got GEICO on the 1st day that they started writing policies in N.J. and I actually saved around $500 from what Mercury would have been. ;-D

My GF also insured her brand new Corolla with them and she is paying like $1,000/year with full coverage.


I would recommend that you continue to shop your insurance in NJ. Many companies have reduced the rates to stay competitive. I am not saying that Sf is your best option as far as price, however I would look at ALL companies.

I did hear that GEICO did offer some of the better rates in NJ though so you may find out that your rates happen to be the lowest around.
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Postby Lofunzo » Tue Jul 12, 2005 10:50 pm

SHOCKandAWE wrote:
Mercer Boy wrote:
SHOCKandAWE wrote:Being from Mercer I am sure I know who your agent is. Stauffer or Campbell?


Well, it used to be some dude named DeAngio...I don't know who it is now. It's whoever is across from the hardware store. :-b

I just found my statement thing. It looks like it's a Mr. Neil Campbell. ;-D

I still pay like over $900 a year for full coverage for this Neon of mine. :-P You need to let me in on some price-cutting secrets! ;-D

On another side note, my friend that works for LM just switched back to Erie because it was cheaper. I guess their super customer service department wasn't worth what he was paying for it (plus employee discount). :-D


PM me your coverages and I will see if there is anywhere you can cut some costs? They first thing I would do it consolidate your Home or Renters insurance with SF to make sure you are getting the discounts. Having homeowners automatically cuts the Auto by 15%.


LOL. MB lives at home so he probably doesn't pay for any insurance on the house.
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Postby SHOCKandAWE » Tue Jul 12, 2005 10:52 pm

Mercer Boy: Here is a great resource for you. If you decide to leave your Sf agent for another company you didnt get it from me ;-)

http://www.ins.state.pa.us/ins/lib/ins/ ... o_west.pdf
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Postby SHOCKandAWE » Tue Jul 12, 2005 10:54 pm

If you scroll to the bottom your can see the rate filing for ALL Insurance Companies in PA and what their rates are.
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