What Discounts Does NJM Offer for Auto Insurance?

Last Updated on December 4, 2020

NJM is a popular option for drivers looking for an affordable, reliable auto insurance policy. As you shop around for car insurance, be sure to consider the discounts that are offered by this insurer. The list below highlights some of the popular discounts that may be available to NJM customers.

Electronic Payment Discount

NJM auto insurance discountsThis is one of the easiest auto insurance discounts to take advantage of, and it is available through NJM along with most other insurers. To receive this discount, all you need to do is sign up for an automatic payment plan, which will have your monthly premium automatically charged to your account on a specific day of the month.

It’s smart to take advantage of this discount because every little bit of savings is welcomed in such an expensive world. And, in addition to the cost savings, you also won’t need to remember to pay your bill every month. With automatic payments set up, you can take this monthly chore off your to-do list.

Home and Auto Bundle

If you own a home, you’ll need to carry a homeowners insurance policy. By combining your auto and home policies with NJM, you will enjoy a discount. In fact, you don’t even have to be a homeowner to take advantage of this opportunity, as you can receive a discount when you combine your auto insurance with renters insurance, as well.

Multi-Vehicle Discount

Obviously, this discount will only apply if you have more than one vehicle that needs to be insured. For those who have two or more vehicles that require coverage, insuring them all with NJM is yet another way to bring down your rate.

This discount is similar to the Electronic Payment Discount in that it can not only save you money but time, as well. Keeping all of your auto insurance coverage together on one policy will make it easier to manage on a monthly basis. Insuring your various vehicles with different companies is a recipe for confusion – and higher rates.

New Car Discount

Buying a new car is expensive. NJM can help take a little bit of the sting out of that investment, however, as they will offer a policy discount on vehicles that are two model years old or newer. Having just spent a significant pile of money on a new car, it will be a welcome relief to find any kind of savings. Of course, your vehicle will eventually be too old for this policy break, so keep that in mind as time goes by.

Defensive Driving Discounts

Good driving habits benefit everyone. You stay safer on the road, and your insurance company saves when you avoid accidents. With that in mind, NJM offers a Defensive Driving discount for those in the state of New Jersey. For up to three years, you can receive a 5% discount on liability, PIP, and collision premiums.

To qualify for this discount, you are going to need to take a driving course that has been approved by the New Jersey Motor Vehicle Commission. These classes are available in person and online, so you can find one that suits your needs. When the course is complete, you’ll need to submit documentation to NJM before the discount can be applied to your account.

Good Student Discount

Did you know excellent grades could actually save you money? If you are currently a high school or college student, working hard in the classroom can lead to a price break from NJM. Some of the achievements that can qualify you for this discount include making the honor roll or Dean’s list, or holding a GPA above 3.0. As with the Defensive Driving Discounts, you’ll need to provide documentation of your classroom achievements before this discount will be available.

Driver Training Discount

This is another discount aimed at younger drivers. Going above and beyond the training needed to simply get your license will allow you to enjoy lower car insurance rates. There are a couple of options to qualify for this discount –

  • 30 hours and classroom instruction and 6 hours of training behind the wheel
    3 hours of training behind the wheel and 12 hours in a driving simulator

As you might expect, this is another discount where documentation is necessary. Along with the policy savings that come from going through this training, you should come away from the process as a better, more confident driver.

Paid in Full Discount

Many drivers choose to pay their policy premium on a monthly basis, and that’s certainly an option with NJM. However, if you opt to pay for your entire policy in one upfront lump sum, you will be offered a discount for doing so. As long as you have the funds available to make that payment, taking care of your policy in one payment is an easy way to trim some cost off the total.

Paperless Discount

Here we find another extremely easy discount option – sign up for paperless delivery of all policy documents to get a break on your rate. You will appreciate the slightly lower bill that comes from taking this option, and you also will enjoy the convenience of getting everything in digital form rather than having to track paperwork.

Explore Your Possibilities

The list above highlights some of the many discounts available through NJM. There are more possible price breaks to be enjoyed, so be sure to explore all of the options for yourself to see how you can save. Some of the other discounts you might qualify for include the Vehicle Safety Equipment Discount and the Mature Driver Improvement (in Pennsylvania).

There is only one way to know exactly what rate you will be offered by NJM – and that’s to submit your information for a quote today! It will only take a few moments of your time to seek out a quote that will meet your auto insurance needs.

James Shaffer
James Shaffer James Shaffer is a writer for InsurancePanda.com and a well-seasoned auto insurance industry veteran. He has a deep knowledge of insurance rules and regulations and is passionate about helping drivers save money on auto insurance. He is responsible for researching and writing about anything auto insurance-related. He holds a bachelor's degree from Bentley University and his work has been quoted by NBC News, CNN, and The Washington Post.
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