National Press Release

RED BANK, N.J., June 9 /PRNewswire/ -- Teachers' Insurance Plan of NJ (Teachers' Insurance) will award cash contributions of more than $14,000 to NJ school districts whose employees have been shopping for car insurance, the Company announced today.

Through Quotes for Cash, a program available to all NJ school districts -- public and private -- each time a participating district employee contacts Teachers' Insurance for a price quote on car insurance the district receives $20. If the inquiry results in a sale, the new policyholder would get $25 to keep for him/herself or pass on to the school.

Piloted last May and offered statewide since the school year began in September, Quotes for Cash is now live in 37 NJ school districts, giving 20,000 teachers and other school employees access to affordable insurance and funding for their schools. "I switched to Teachers' Insurance last year and am happy I did," notes Karen DiGirolamo, secretary at the Pemberton Township High School. "I'm saving money on my insurance and getting a few dollars for my school district, too. How often can I make a personal financial decision that can have a positive impact on my school, as well?"

Teachers' Insurance also offers scholarships and grants as part of the Quotes for Cash program. High school seniors in each participating district are eligible to apply for five $1,000 scholarships. And, grants up to $1,000 are available to teachers who want to conduct enrichment programs in their schools.

"We love the idea of helping NJ schools at the same time that we're offering affordable car insurance to the members of our children's educational community-one of our state's most precious resources," says Jim Tignanelli, President, Teachers' Insurance. "With more than 600 public school districts, 40 colleges and universities and countless private schools in the state, Quotes for Cash represents a huge untapped resource for funding that could be used to enhance the quality of education in NJ."

Teachers Auto Insurance Company of New Jersey provides auto insurance exclusively to employees (active and retired) of New Jersey licensed educational facilities. Studies show that educators as a group are lower risk and have fewer claims, so Teachers' Insurance can offer lower rates to the education community than insurance companies who insure everybody. Teachers' Insurance policyholders pay an average of 20 to 25% less for auto insurance. For more information on Quotes for Cash go to www.NJ-TEACHERS.com.

Contact: Laura Jewell, Communications Director, 732-978-6232

SOURCE Teachers Auto Insurance Company of New Jersey