Difference Between New Jersey Manufacturers Insurance and GEICO
In today’s rapidly moving world, a larger proportion of the population has automobiles. Hence, it becomes a necessity to protect one’s cars and one such way is by getting them insured against multiple kinds of threats and damages. New Jersey Manufacturers Insurance and GEICO are two such companies that provide car insurance.
New Jersey Manufacturers Insurance vs GEICO
The main difference between New Jersey Manufacturers Insurance and GEICO is that the former is available only in five states of the USA whereas the latter provides its services across the nation. The two insurance companies also vary in their modes of accessibility, discounts provided, and the number of agents available.
The New Jersey Manufacturers Insurance Company was found in 1913. Initially, it provided insurance to only some specific but recently it has brought under its ambit all kinds of insurances like renters insurance, home insurance, etc. The company sells its policies through local agents that are available throughout the five states of Connecticut, New Jersey, Pennsylvania, and more recently, Ohio and Maryland.
In contrast, GEICO insurance company was found in 1936. It is the second-largest car insurance company in the USA and caters to the requirements of people from all fifty states. The company is known for its discounts and comparatively lower rates.
Comparison Table Between New Jersey Manufacturers Insurance and GEICO
| Parameters of Comparison | New Jersey Manufacturers Insurance | GEICO |
| About | It is an insurance company headquartered in New Jersey, United States. | It is an insurance company that has its headquarters in Maryland, United States. |
| States served | It serves five states, namely, Connecticut, New Jersey, Pennsylvania, Ohio, and Maryland. | It serves all the fifty states of the United States of America. |
| Method of sale | It usually sells its policies online or through the phone. | Apart from online and telephone services, it also has a network of agents that helps in selling policies. |
| Discounts | It offers fewer discounts. | It offers a wide variety of discounts like a military discount, safety device discount, etc. |
| Foundation year | It was founded in 1913. | Its foundation year was 1936. |
What is New Jersey Manufacturers Insurance?
The New Jersey Manufacturers Insurance company is a car insurance company that came into being in 1913. It has its headquarters in New Jersey. It was initially founded to fulfill President Woodrow Wilson’s campaign pledge that aimed at providing health care and partial wage replacement to injured workers.
With the years rolling by, it turned into a personal auto and home insurance company. Recently, it shed its previous limitations and included various other kinds of insurance policies as well. It also broadened its arena of supplying its services as it allowed residents of two new states, Ohio and Maryland, to avail its services in addition to the previous three.
The company offers a bunch of discounts including anti-theft device, homeowner discount, multi-car discount, multi-policy discount among others. It does not have a very strong network of agents. Instead, it sells its insurance policies online or via phone.
The company’s customer satisfaction rate is quite high. It receives a very limited amount of complaints. But one crucial arena where the company lacks is that it does not have a functional mobile application. This makes it a tad difficult for its users to access the company management.
What is GEICO?
Established in 1936, GEICO is an auto insurance company that has its headquarters in Maryland, USA. It proudly holds its position as the second-largest car insurance company in the entire United States of America. GEICO stands for Government Employees Insurance Company as its initial targeted customer base was Government employees.
But today the company has grown to accommodate customers from all walks of life, be it from the public sector or private. Even though it offers all sorts of insurances, it is best known for its auto insurance policies. It is a nationwide company that serves all fifty states of the USA.
The company is quite generous in offering discounts to its customers. Apart from the usual discounts, it provides special discounts to men and women in uniform. It offers a special employment discount, student discount, etc. It has an efficient network of agents that aids in selling the policies to the masses.
If one looks at the enormous magnitude at which the company operates, the complaints it receives seem to be extremely low. The company is essentially customer-friendly as it has a robust website and a special mobile application to help out its customers.
Main Differences Between New Jersey Manufacturers and GEICO
Conclusion
The New Jersey Manufacturers Insurance Company though established earlier than its contemporary, has its operations in a limited number of states. Nevertheless, it is expanding with time and it has an exceptionally good customer satisfaction rate which makes it worth it.
Looking at the other side, GEICO has been deemed as the second-best car insurance company that provides its services to the entire nation. It has a cluster of discounts for its customers along with a strong team of agents and a well-made application that caters to their requirements.
References
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