Founded in 1990 NJCURE is a reciprocal exchange, which is defined on their website as, “A group of individuals, corporations or entities who, as members, agree to exchange contracts of insurance (policies) and share their insurance risks among themselves within their select group. Each member (policyholder) of a reciprocal exchange individually appoints and authorizes a common attorney-in-fact to manage the affairs of the exchange.”
A great benefit of NJCURE is their “forgiveness” policy that “permits the immediate forgiveness of two motor vehicle points and also provide additional point forgiveness to members who have been with the Exchange for at least three full years.” NJCURE has an obligation to use any unused premiums only for the benefit of its members.
Eligibility requirements for NJCURE are the folowing, “all members of the insured's household must have at least 24 months of responsible driving experience and, for at least one full year, each policy must carry "comprehensive" coverage on at least one vehicle. You do not need to have an absolutely clean driving record -- just a responsible one.”
If you or anyone you know are members of NJCURE please let us know your experience.
