Through its Quotes for Cash program, the Teachers’ Insurance Plan of NJ donated $29,000 for the 2008-2009 school year and more than $50,000 since the program’s inception in 2007.

The donation for the 2008-2009 school year was an increase of 30% over the prior year, according to the Red Bank, N.J.-based company.

The Quotes for Cash program donates $20 to a school district each time an employee of the district calls for an insurance quote. The money goes into a dedicated fund for the district to use it as they deem fit, according to the company. Sixty-two educational communities in the state are currently enrolled in the program.

The funds are being used for programs throughout the state, including scholarships for college-bound seniors in high school and grants to support innovative teachers, the company said.

Marc V. Buro, president of Teachers Auto Insurance Company of New Jersey, said when Quotes for Cash was introduced, “we were hoping to generate a win-win situation that benefited our partner educators around the state.”

“I’m very pleased that we have been able to donate over $50,000 so far, and I hope that more schools and districts join so we can increase our impact on education in the Garden State,” Buro said in a statement. “As an insurance company that only does business with New Jersey educators, we have a special connection to the education community in New Jersey. We view our job as providing an excellent value for educators in terms of special rates and special coverages that other insurers simply can’t match.”

Teachers Auto Insurance Company of New Jersey provides auto insurance exclusively to the faculty and staff (active and retired) of New Jersey licensed educational facilities.