CURE auto insurance is a nonprofit company that offers car insurance to drivers based primarily on their driving record, rather than on factors such as education, occupation, or credit score. CURE claims to eliminate income discrimination and provide affordable rates to responsible drivers. But where can you get CURE auto insurance?
In this article, we will explore what states have CURE auto insurance and what are the benefits and drawbacks of this company.
You may also read about: How to get a discount if you insure more than two cars
CURE Auto Insurance: A Brief History
CURE stands for Citizens United Reciprocal Exchange, and it was founded in 1990 as a solution to the car insurance crisis in New Jersey. At that time, many car insurers were reluctant to write car insurance policies due to low profitability and legislative constraints.
CURE was established as a member-owned and operated company that would offer car insurance to drivers who had few accidents and violations on their record, regardless of their income or education level.
CURE operates as a reciprocal exchange, which means that its members share the risk and the profits of the company. Members pay a subscription fee and a premium, and they receive dividends when the company has a surplus. CURE also has a board of governors that oversees the management and operations of the company.
What States Have CURE Auto Insurance?
Currently, CURE auto insurance is only available in three states: Michigan, New Jersey, and Pennsylvania. These are the states where CURE has obtained licenses to operate as a car insurer. CURE has not expanded to other states yet, although it may do so in the future.
In Michigan, CURE started offering car insurance in 2019, after the state passed a law that allowed drivers to choose their level of personal injury protection (PIP) coverage. PIP is a type of coverage that pays for medical expenses and lost wages for you and your passengers in case of an accident, regardless of who was at fault.
Before the law change, Michigan drivers had to buy unlimited PIP coverage, which made car insurance very expensive in the state. CURE offers drivers the option to lower their PIP coverage and save money on their premiums.
In New Jersey, CURE is one of the largest car insurers in the state, with more than 200,000 members. CURE offers competitive rates to drivers who have good driving records, and it does not use income rating factors such as education, occupation, or credit score to determine rates. CURE also offers discounts for good drivers, good students, and multi-car policies.
In Pennsylvania, CURE started offering car insurance in 2020, after the state approved its application. CURE offers similar rates and benefits as in New Jersey, and it also provides emergency roadside assistance to its members. CURE limits roadside assistance to two claims in a six-month period, each covering up to $125.
What Are the Pros and Cons of CURE Auto Insurance?
CURE auto insurance has some advantages and disadvantages that you should consider before buying a policy from them. Here are some of them:
Pros:
- CURE offers affordable rates to drivers who have good driving records, regardless of their income or education level.
- CURE does not use income rating factors such as education, occupation, or credit score to determine rates, which can be discriminatory and unfair.
- CURE operates as a nonprofit reciprocal exchange, which means that its members share the risk and the profits of the company.
- CURE provides dividends to its members when the company has a surplus.
- CURE offers discounts for good drivers, good students, and multi-car policies.
- CURE provides emergency roadside assistance to its members.
Cons:
- CURE is only available in three states: Michigan, New Jersey, and Pennsylvania.
- CURE does not offer other types of insurance, such as home or life insurance.
- CURE does not offer many unique coverage options beyond the standard types of car insurance.
- CURE has a mixed reputation for customer service and claims handling.
What is CURE auto insurance phone number?
Conclusion
CURE auto insurance is a nonprofit company that offers car insurance to drivers based primarily on their driving record. It is only available in three states: Michigan, New Jersey, and Pennsylvania. It has some benefits and drawbacks that you should weigh before buying a policy from them. If you are looking for an alternative to traditional car insurers that use income rating factors to determine rates, you may want to check out CURE auto insurance.
