New Quotes for Cash Programs Help Raise Funds for Local Schools

To: STATE EDITORS

Contact: Cle Scouten, Director of Communications, +1-732-978- 6232, for Teachers Auto Insurance Company of New Jersey

RED BANK, N.J., May 8 /PRNewswire-USNewswire/ — Today Teachers Auto Insurance Company of New Jersey announced the roll out of a new program aimed at helping local school districts raise money. Called Quotes for Cash, the program rewards school districts who partner with Teachers Auto Insurance Company of New Jersey and encourage their employees to obtain a quote from the company for their personal auto insurance coverage.

Teachers Auto Insurance Company of New Jersey, headquartered in Red Bank, provides auto insurance to active and retired New Jersey teachers and other employees of licensed educational facilities. Because the company insures only educators, it can offer lower rates than other insurance companies who insure everybody. Customers who recently switched to Teachers Auto Insurance Company of New Jersey reported average savings of $790*!

“Quotes for Cash was designed as a true partnership between our company and local New Jersey school districts,” stated Jim Tignanelli, President of Teachers Auto Insurance Company of New Jersey. “We really wanted to conduct our business in a way that supported school districts and provided them with the opportunity to raise potentially thousands of dollars for their kids.”

Under the Quotes for Cash program, Teachers Auto Insurance Company of New Jersey donates between $10 and $25 for each district employee who calls the company for a quote on their personal auto insurance policy. The funds are provided to the district and may be used by the district for any purpose or program they desire.

“We are pleased to be piloting this program with three terrific partner districts,” said Tignanelli. “Edison, Woodbridge and Toms River have all launched Quotes for Cash programs in their respective districts. They are now working with us to help increase the number of quotes generated by their employees, and in so doing, increase the amount of money they each can raise under the program,” continued Tignanelli.

“Toms River made the decision to dedicate any funding it received under the Quotes for Cash Program to our scholarship fund,” stated Kathleen Eagan, President of the Toms River Education Foundation.

“We looked at this as a terrific opportunity to generate some end- of- school-year funding to help us cover certain of our expenses. It potentially is a win win for us in that our employees who have called for quotes can save hundreds of dollars on their premiums,” said Daniel Michaud, Business Administrator for Edison Schools.

“We’re at the beginning of our program and are looking forward to not only helping our employees save some money on their car insurance, but also raise additional funds to help support the Adopt- A-School program,” said Nancy Alberici of Woodbridge School District.

Teachers Auto Insurance Company of New Jersey will seek to expand the Quotes for Cash program statewide this Fall.

“We are excited by the prospect of rolling this innovative program out to districts across the state and to finding new ways to expand the program to county colleges and other universities in New Jersey,” concluded Tignanelli.

Teachers Auto Insurance Company of New Jersey was formed in 1997 to provide auto insurance exclusively to employees (active and retired) of New Jersey licensed educational facilities. Since educators as a group are lower risk and have fewer claims, Teachers Auto Insurance Company of New Jersey can offer lower rates than other companies who insure everybody. The company writes business directly through its (866) NJ-TEACH toll free sales line or through its web site, www.NJ-TEACHERS.com.

* Savings is based on a random sample of actual policies that switched to Teachers Auto Insurance Company of New Jersey.

SOURCE Teachers Auto Insurance Company of New Jersey

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