Njm vs. Travelers: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, Njm offers less expensive rates than Travelers
• Njm offers cheaper average premiums for people who are single and purchasing auto insurance by yourself
• Travelers offers more discounts than NJM Insurance Group

Njm vs. Travelers: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering big discounts, but exactly how much money can you save by switching?

You might have narrowed it down to Njm or Travelers, but between the two, which company will offer you more affordable prices?

Looking at nationwide averages, Njm is about $30 per month cheaper than Travelers.

Even so, that doesn't mean Njm will necessarily be less expensive than Travelers for each driver. After all, insurance companies can offer drastically different rates to each driver depending on rating factors like your age, your driving record, your credit score, or even where you call home (among other things), so rates will change quite a bit from person to person.

Luckily, we've broken down average premiums from both Njm and Travelers by many different rate factors, so read on to find out which carrier is the best for you.

Njm or Travelers: Average Car Insurance Rates by State

Njm and Travelers only compete against each other in New Jersey, where Njm offers the cheaper average prices. For New Jersey residents, undefined offers car insurance for undefined monthly on average. undefined's average rates come out to be more expensive, at undefined per month.

There's a lot more that goes into your auto insurance bill than just your home state. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance premiums of any other group of drivers out there on the road. That's generally because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Njm for their car insurance pay more than $85 less than those who use Travelers.

But both carriers will offer you dramatically lower rates by the time you turn 25. For example, average premiums for Njm policyholders reduce over 50% and Travelers's prices lower more than 60% over that time.

Which is the Best Company for Retired Drivers?

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest rates you'll ever find.

But who has the best prices for retired drivers between Njm and Travelers? Njm gets the edge, with rates for drivers 65 and older $36 more affordable than the national average for Travelers.

Which is the Best Company for Married Drivers?

Did you know that insurance premiums are typically more expensive for those who are single than they are for married couples? That's because policies for married policyholders normally cover multiple cars, which quite a few companies will offer you a discount for.

When it comes to relationship status, Njm is the clear winner for single policyholders, with prices around $33 a month cheaper than Travelers, on average. For married drivers, the advantage is clear again - Njm has the edge when it comes to average rates.

Njm vs. Travelers: Average Rates by Gender

Men tend to pay more for car insurance than women. This is because women are less likely to get speeding tickets and get into accidents, which lowers the chances of an insurance claim.

Men usually pay about $1 per month more than women with Njm, and over $10 with Travelers.

When it comes to the most affordable premiums for each gender, Njm comes out on top for both men and women, with average rates $35 less for men and $25 cheaper for women.

Njm or Travelers: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

For most people, auto insurance isn't the easiest topic to understand. Everyone needs insurance, but there are so many different terms and limits that it can be hard to find the right policy.

The two most common policies that many drivers look at fall into two categories -- liability only (that covers property damage and bodily injury for other drivers and passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with liability).

If you're looking for state minimum liability insurance, Njm generally offers more affordable prices of $92 compared to Travelers's $108. When it comes to full coverage policies with similar limits, Njm again has the edge, with policies around $45 a month less expensive than Travelers, on average.

Is Njm or Travelers Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

It's no secret secret that accidents and tickets lead to higher rates, but which company -- Njm or Travelers -- has the cheapest premiums for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Njm policyholders can expect their prices to go up an average of $29 per month if they get a ticket, while Travelers usually raises rates about $32 a month, on average.

However, Njm tends to offer the best prices for drivers both with a speeding ticket and with a clean record. Drivers with a clean record can save around $6 per month and drivers with a ticket can save about $9 a month with NJM Insurance Group.

Which Company is Best for Drivers After an Accident?

Both companies will increase premiums pretty significantly if you get into an at-fault accident with Travelers increasing by $45. Njm has a less extreme rise, but you can still expect to pay $0 more than you were prior to your first collision.

Overall, the cheaper prices come from Njm, with monthly premiums averaging $122 compared to Travelers's $173.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly auto insurance bill -- normally a lot more than a collision or speeding ticket. On average, Travelers will raise your prices around 38% after a DUI, while Njm's average rates climb by just under 20%.

How does Credit Score Impact Njm and Travelers Rates?

In many cases, your credit score can come into play when carriers calculate your monthly bill. This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it does affect many drivers out there.

Insurance companies argue that those with poor credit scores are less likely to pay their bills on time every month, which increases the risk involved on their end, while the opposite is true for those with good credit.

So, which carrier offers the lowest premiums for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Njm or Travelers Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a substantial impact on how much car insurance carriers will charge for coverage? Typically, the more miles you drive, the more you can expect to pay for insurance.

For both drivers who put 6,000 miles on their vehicles annually, as well as those who average twice that figure, Njm tends to be the more affordable option. Travelers average prices for drivers with 6,000 annual miles come in about $33 more expensive than Njm. Those who drive 12,000 miles each year can expect to pay around $27 more with Travelers over Njm.

Njm vs. Travelers: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can play a big role in how much you pay for car insurance. Normally, if you live in a rural area with fewer cars on the road, you'll pay a little less for auto insurance, while the opposite is true for people in urban areas.

Njm tends to offer the cheapest premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the lowest prices from both companies, but Njm comes out on top with average rates about $117 a month. Njm also has less expensive average premiums for policyholders in urban and suburban ZIP codes -- a 21% and 18% per month respective difference when compared to Travelers drivers in similar areas.

Njm vs. Travelers Discounts

Regardless of why you might be in the market for a new insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by taking advantage of as many car insurance discounts as you can.

The difficult part is finding all of the discounts you can take advantage of, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Below, we've broken down all of the different discounts offered by both Njm and Travelers so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Travelers knocks Njm out of the park when it comes to the sheer number of discounts available, offering 25 different discounts to Njm's 25.

Both carriers offer many of the same discounts -- like anti-theft discounts, discounts for getting driver training, EFT discounts, and new business discounts -- but Travelers also offers advance quote discounts, alternative fuel discounts, continuous insurance discounts, and more that Njm does not.

On the flip side, Njm has a couple unique discounts of its own -- employee discounts, full coverage discounts, and telematics discounts.

Final Thoughts: Is Njm or Travelers Best for You?

You've seen the role certain variables have on your auto insurance and the different discounts companies offer. That's all well and good, but at the end of the day, which company is the best carrier for you and your specific profile and needs?

Njm might be best for you if....

• You want to save money on your car insurance after an accident.
• You're looking for more protection with "full coverage" insurance.
• You and your spouse are buying auto insurance together.

Travelers might be best for you if...

• You're thinking about moving to another state -- undefined is only available in.
• You're looking for discounts -- Travelers has the most.

We hope this guide helps you get a good idea of the differences between Njm and Travelers and that you can now make a more informed decision when it comes to your car insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several carriers, not just Njm and Travelers. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get multiple free quotes from some of the best insurance companies in your area, all in just a few minutes.

Njm vs. Travelers FAQs

Is Njm or Travelers cheaper?

Looking just at the national average prices, Njm is the more affordable of the two carriers, offering average rates of $137 a month compared to $167 for Travelers. That being said, Njm won't necessarily be the most affordable carrier for every driver, since there are several different factors (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Njm or Travelers?

Sadly, the real answer is "it depends.". Neither company is "better" for each driver -- it all comes down to what your unique car insurance profile looks like.

Why do Njm and Travelers offer me different rates?

Auto insurance companies take a look at lots of different variables when calculating the rates they charge policyholders. Things like your driving record, gender, age, where your home is, and sometimes even things like your credit score can all be used. Both Njm and Travelers calculate premiums differently, so each one will most likely offer different prices. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from a bunch of different carriers.

How do I know if Njm or Travelers is right for me?

The only way to find the insurance company that's right for you is by getting quotes from a handful of companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best auto insurance carriers in your area. That way, you can guarantee you're getting the most affordable rate. And who knows, the best carrier for you might not be Njm or Travelers at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.