NJM vs. Progressive: Which Company is the Best Fit for You?

Quick Facts

• In general, NJM offers significantly more affordable rates than Progressive
• NJM offers less expensive average premiums for drivers who have received a ticket within the last few years
• Progressive offers more discounts than NJM Insurance Group

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NJM vs. Progressive: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering huge discounts. But exactly how much can you save by switching?

You might have narrowed it down to NJM or Progressive as your top options, but which carrier will offer you more affordable prices?

As you can see, NJM is about $43 per month cheaper than Progressive when looking at the national average rates for car insurance.

But that doesn't necessarily mean NJM will be the less expensive option for every driver. Insurance companies use a ton of complex algorithms to calculate rates, so depending on where you live or how good your credit score is (among a multitude of other factors), you could see wildly different premiums from the ones above.

Luckily, we've broken down average rates from both NJM and Progressive by a bunch of different rate factors, so read on to find out which carrier is the best for you.

NJM or Progressive: Average Car Insurance Rates by State

NJM and Progressive only compete against each other in New Jersey, where NJM offers the cheaper average premiums. For New Jersey residents, NJM offers auto insurance for $137 per month on average. Progressive average prices come out to be more expensive, at $206 per month.

There's a lot more that goes into your car insurance cost than just your home state. Read on to find out more.

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Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for insurance than any other group of drivers. Normally, that's because young, inexperienced drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

That being said, that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of nearly $200 less a month by choosing NJM over Progressive.

However, both carriers will reduce premiums by the time you turn 25. For example, average rates for NJM policyholders decrease almost $150 and Progressive's prices drop more than $300 over that time.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest premiums you can find.

So, which company offers the best prices to retired drivers? NJM gets the edge, with rates for drivers 65 and older $35 more affordable than the national average for Progressive.

Which is the Best Company for Married Drivers?

Did you know that insurance prices are generally more expensive for single policyholders than they are for married drivers? That's typically because married couples tend to own and insure multiple cars, which can often earn you a discount.

When it comes to relationship status, NJM is the clear winner for single drivers, with rates around $64 per month less expensive than Progressive, on average. The advantage for married policyholders with NJM is also obvious, where drivers save nearly 15% a month.

NJM vs. Progressive: Average Rates by Gender

Men are statistically more likely than women to get into accidents and file an insurance claim, which means they'll usually end up paying more for car insurance than women.

Normally, women see premiums about 1% per month less with NJM, and around 3% less with Progressive when compared to their male counterparts.

When it comes to the lowest rates for each gender, NJM offers the most affordable average premiums for both men and women. On average, women save about $42 a month and men save about $46 with NJM compared to the average Progressive policyholder.

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NJM or Progressive: 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.

It's no secret that insurance can be a complicated subject for most people. There are a range of different coverages that account for several different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

Even so, most policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers and passengers if you cause a collision) and full coverage (which typically refers to having comprehensive and collision coverages in addition to what you get with liability).

If you're looking for state minimum liability insurance, NJM normally offers cheaper prices of $92 compared to Progressive's $111. When it comes to full coverage policies with similar limits, NJM again has the edge, with policies around $70 per month less expensive than Progressive, on average.

Is NJM or Progressive Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that collisions and tickets lead to higher premiums, but which carrier -- NJM or Progressive -- has the lowest rates 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 a month if they get a ticket, while Progressive generally raises premiums about $31 per month, on average.

That being said, NJM is typically the cheaper option for both drivers who have a recent speeding ticket and those with clean records, offering rates that are $27 and $29 more affordable, respectively, compared to Progressive.

Which Company is Best for Drivers After an Accident?

NJM drivers who get in an accident can expect to see their prices rise by $0, while those who have insurance through Progressive will see around a $65 increase.

Overall, NJM offers the cheapest premiums for drivers with an at-fault accident on their records, with monthly rates averaging $122 compared to Progressive's $214.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or ticket when it comes to your insurance bill. For example, NJM increases average prices by just under $30 a month -- that's just under a 20% increase.

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How does Credit Score Affect NJM and Progressive Rates?

You may not realized it, but your credit score can come into play when companies determine your monthly bill. This isn't always the case (Hawaii, for example, has banned the use of credit score as a rating factor) but it might come into play for quite a few policyholders.

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

Looking specifically at NJM and Progressive, which company has the best rates for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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Is NJM or Progressive Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly prices. Generally, the more miles you put on your vehicle, the more you can expect to pay for coverage.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Progressive charges. However, there's a small difference in monthly premiums for NJM, with policyholders who drive 6,000 miles annually paying about $11 less every month compared to those who drive 12,000 miles each year. Still, NJM is the cheaper option for drivers in both categories.

NJM vs. Progressive: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can have a sizable impact on your monthly auto insurance bill. Usually, those who live in urban areas will pay more than policyholders in rural areas because there are a lot more cars on the road in those areas, which increases the chances of an accident.

NJM tends to offer the lowest rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

For drivers in urban ZIP codes, NJM offers premiums around $161 monthly compared to Progressive's $207. People who live in suburban ZIP codes can expect to pay about $131 per month for NJM and $179 for Progressive. Lastly, those in rural areas tend to get the most affordable prices from both companies, with average monthly rates coming in at $117 and $154 for NJM and Progressive respectively.

NJM vs. Progressive 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.

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all the ones you're eligible for.

In the table below, we've compared all of the different discounts offered by NJM and Progressive so that you can see which one can save you the most money each month.

Progressive blows NJM away when it comes to the sheer amount of discounts available, offering 34 different discounts to NJM's 14.

Both carriers offer many of the same discounts -- like discounts for being a defensive driver, EFT discounts, and paid in full discounts -- but Progressive also offers advance quote discounts, advanced safety feature discounts, agency transfer discounts, and more that NJM does not.

On the flip side, NJM has a couple unique discounts of its own -- discounts for getting driver training, employee discounts, full coverage discounts, and more.

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Final Thoughts: Is NJM or Progressive Best for You?

So, you've seen how different factors can affect your auto insurance premiums. We've broken down the different discounts each carrier offers, too. But, when it comes down to it, is NJM or Progressive the best carrier for you and your specific needs?

NJM might be best for you if....

• You have a speeding ticket on your driving record.
• You're looking for more protection with "full coverage" car insurance.
• You're buying auto insurance for a teen and looking for a wallet-friendly option.

Progressive might be best for you if...

• You already have plans to move to another state -- undefined is only available to residents.
• You care about discounts (Progressive offers the most).

We hope this guide has ben a valuable resource as you compare NJM and Progressive. We also hope we've given you the information you need to make the best decision about your 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 a handful of companies, not just NJM and Progressive. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple free quotes from some of the best car insurance carriers in your area, all in just a few minutes.

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NJM vs. Progressive FAQs

Is NJMor Progressive cheaper?

Looking just at the national average rates, NJM is the more affordable of the two companies, offering average rates of $137 a month compared to $180 for Progressive. Even so, NJM won't necessarily be the cheapest company for every policyholder, since there are multiple different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, NJMor Progressive?

Unfortunately, the answer truly is "it depends." Neither carrier is necessarily "better" for each driver -- it all boils down to your unique insurance profile.

Why do NJMand Progressive offer me different rates?

Auto insurance carriers take a look at many different factors when calculating the premiums they charge policyholders. Things such as your driving record, age, gender, where you call home, and sometimes even things like your credit score can all be taken into consideration. Both NJM and Progressive calculate prices differently, so each one will most likely offer different premiums. The only real way to see which company is the most affordable for you is by comparing personalized quotes from many different companies.

How do I know if NJM or Progressive is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from several carriers 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 ZIP code and you'll get free quotes from dozens of the best car insurance companies in your area. With those, you can guarantee you're getting the best premium. And who knows, the best company for you might not be NJM or Progressive at all!

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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.