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About CURE
CURE History and Mission
The Past...
During the 1980s, despite the fact that New Jersey's drivers paid one of the highest premium rates in the nation, auto insurers were reluctant to write new auto insurance policies due to low profitability and massive legislative and regulatory constraints.
It was during this crisis that former New Jersey Insurance Commissioner James J. Sheeran and an award-winning insurance expert, Dr. Lena Chang, founded New Jersey Citizens United Reciprocal Exchange ("NJ CURE"). When it began operations in 1990, NJ CURE was heralded by the media as the "CURE" to the auto insurance crisis in New Jersey. NJ CURE has since evolved into a market leader in policyholder satisfaction to the thousands of responsible drivers who have become its members.
The Future...
Now that we have expanded outside of New Jersey, our original name was changed from NJ CURE to CURE Auto Insurance. There has been no change in management and we will be providing the same exceptional service on which we have built our reputation in the industry since 1990.
Although certain aspects of the auto insurance crisis of the 1980's have passed, the overbearing high cost for auto insurance has not. As CURE continues its efforts to keep the Exchange free from high-risk drivers and vigorously defend against fraudulent claims, it will lead the way as the NOT-FOR-PROFIT solution for responsible drivers and the "CURE" for the continuously evolving auto insurance problems.
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How CURE Keeps Costs Down
No Agents
CURE does not use any agents or brokers, so it completely eliminates the "middleman." By eliminating the large expense of commissions, CURE is able to pass the savings directly to its members (policyholders).
All claims and service requests are handled within CURE's centrally-located Princeton office, so the service you can count on is direct, efficient and friendly.
Not-for-profit
Unlike the premium charges of most insurance companies, CURE premium charges do not contemplate making "profits" from the members of the Exchange.
No Outside Investors
CURE's structure requires no outside investors. Hence, the need to generate profits for outside investors is eliminated, and only CURE members can benefit from the savings derived from its operation.
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How is CURE different?
How is CURE different?
CURE is different from most insurance companies in many ways. First, CURE functions in a not-for-profit manner, so there is an obligation to keep any unused premiums - or "profits" - in the Exchange and to use them solely for the benefit of its members – not as profits to stockholders.
CURE's premium covers a full 12 months of protection. Most other insurers quote prices for policies lasting just six months, so rates can be increased and penalty charges quickly added.
CURE cares more about how you drive, so we refuse to adopt discriminatory rating factors that most other insurers use. These factors can increase your rates as much as 50% and have nothing to do with your driving record - these rating factors include:
- Credit Score – the lower your credit score, the more other insurance providers will charge. CURE does not use your credit score as a factor in determining rates.
- Education – many of the leading insurance companies determine your rate based on your education level. If you do not have a 4-year college degree, your rates will increase. CURE does not use education as a factor in determining rates.
- Occupation – many national companies determine your rates based on your job. And some companies – such as GEICO – provide their least favorable rates to those they categorize as "blue and grey collar workers." CURE does not use occupation as a factor in determining rates.
- Home Ownership – many insurance providers determine your rates on whether or not you own a home and will charge higher rates to those who do not. CURE does not use home ownership as a factor in determining rates.
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CURE in the News
Employment Opportunities
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