Updated: November 27, 2024
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In Paterson, NJ, Chubb is both the best overall and cheapest choice for home insurance. It also excels in customer service.
Choosing the best inexpensive home insurance depends on what you value, such as costs or how a company helps when you have questions or problems.
Best HomeInsurancePaterson, NJTable of Contents
Why Trust MoneyGeek? We used data from New Jersey's Department of Insurance and Quadrant Information Services to find the best homeowners insurance in Paterson. Our choices are based on solid data and industry standards.
Home insurance quotes in Paterson indicate the most competitive rates as of September 2024.
MoneyGeek found that Chubb is the best home insurance option in Paterson, NJ, with a MoneyGeek score of 98 out of 100 for 100K dwelling coverage.
The scores for home insurance companies in Paterson range from 42 to 98. These figures are based on MoneyGeek's scoring system, and insurers may have different scores depending on your credit history and the age of your home.
| Chubb | 98 | $412 |
| State Farm | 88 | $603 |
| Narragansett Bay Insurance Company | 85 | $596 |
| Farmers | 80 | $657 |
| New Jersey Skylands | 65 | $590 |
| ASI | 61 | $1,087 |
| The Hanover | 52 | $1,791 |
MoneyGeek found that Chubb is the best option for $100K dwelling coverage in Paterson, NJ. The two best overall home insurance companies in Paterson for $100K dwelling coverage are:
Chubb stands out as the best home insurance provider due to its affordability, customer satisfaction and coverage offerings.
There are many companies with various costs and service levels in Paterson, NJ. While affordability is key, other factors — such as customer support and coverage options — are important, especially when filing a claim.
Chubb is the best overall company with high scores in affordability and satisfaction. It offers comprehensive home insurance coverage, including guaranteed replacement cost and building ordinance or law. Chubb also provides discounts like protective device and new home, helping homeowners save money. Installing protective devices or having a new home can qualify you for these discounts.
Chubb offers useful coverages such as cash settlement, personal property replacement cost and risk consulting. These coverages help homeowners by providing financial protection and support in case of loss or damage.
MoneyGeek found that Chubb offers the best customer service in home insurance in Paterson, NJ, for $100K dwelling coverage. Here are the top two providers for this coverage:
Chubb stands out as the best due to its exceptional customer satisfaction score and comprehensive coverage benefits. Excellent service in home insurance includes quick responses, helpful support and trustworthiness.
Chubb is the best for service quality with high scores in customer satisfaction and coverage. It offers comprehensive home insurance with guaranteed replacement cost and building ordinance or law. You can save with discounts like new home and home renovation. A new home discount applies if your home is 10 years old or less.
Chubb's guaranteed replacement cost helps rebuild your home even if costs exceed limits. Building ordinance or law covers bringing your home up to code after damage. Cash settlement offers a payout if you choose not to rebuild. These coverages are valuable for homeowners.
MoneyGeek found that Chubb is the best cheap home insurance option in Paterson, NJ, for $100K dwelling coverage. The top two best cheap insurance providers for $100K dwelling coverage are:
Chubb stands out because it offers a good balance between affordability and customer satisfaction. However, remember that lower-cost insurance often means less coverage. While great for your wallet, it might not be enough if there's an accident. In cases where cutting costs is key, considering the cheapest homeowner insurance companies might help. Best cheap insurance is not always the same as the cheapest one.
Chubb is the best cheap home insurance company with a high MoneyGeek Score, thanks to its affordability and customer satisfaction. It offers comprehensive coverage, including guaranteed replacement cost and building ordinance or law. Chubb also provides discounts like new home and home renovation, helping homeowners save money. You can get a new home discount if your home is 7 or 10 years old or less.
Chubb offers useful coverages like cash settlement, which lets you choose not to rebuild after a loss. building ordinance or law helps cover costs to meet current building codes. Guaranteed replacement cost ensures your home is rebuilt to its original condition, even if costs exceed your policy limit.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
Rates updated:
Dec 13, 2024
Homeowners insurance in Paterson can be affected by several factors, with location being important. Comparing rates is the best way to save but may take over an hour since each company can take 15 minutes. MoneyGeek's home insurance calculator can help you save quickly by focusing on key factors. Just enter your age, coverage, credit score, deductible, liability and some other details to get an estimate.
Chubb is the top choice for affordable home insurance in Paterson, NJ. The following companies offer the lowest annual premiums in their respective dwelling coverage categories:
Chubb stands out in Paterson for being both the most affordable and achieving the highest score. New Jersey Skylands is the cheapest for the higher coverages, although Chubb has a better overall score. Choosing the right amount of dwelling coverage is essential as it significantly affects the insurance premium.
Opting for the cheapest homeowners insurance in New Jersey can be a smart way to manage your budget effectively.
| Chubb | $412 |
| New Jersey Skylands | $590 |
| Narragansett Bay Insurance Company | $596 |
| State Farm | $603 |
| Farmers | $657 |
| ASI | $1,087 |
| The Hanover | $1,791 |
New Jersey Skylands emerges as the best option in Paterson, NJ, offering home insurance for high-value homes. High dwelling coverage, like $750K, is important for homes with costly replacement values, as
New Jersey Skylands stands out for its low cost in the area. According to MoneyGeek, it offers competitive pricing but might not be the top choice based on MoneyGeek scores.
| New Jersey Skylands | $1,982 |
| State Farm | $2,557 |
| Chubb | $2,704 |
| Narragansett Bay Insurance Company | $2,861 |
| Farmers | $3,586 |
| The Hanover | $3,735 |
| ASI | $5,007 |
Chubb stands out as the cheapest option for new homes in Paterson, NJ, offering home insurance for an annual premium that fits your budget.
Chubb offers substantial savings in Paterson, making it the clear choice for cost-conscious homeowners. However, the lowest price doesn't always mean the best coverage, according to MoneyGeek's review. While seeking cheap home insurance, you should also make sure you are adequately covered.
| Chubb | $309 |
| Farmers | $346 |
| State Farm | $357 |
| New Jersey Skylands | $423 |
| ASI | $447 |
| Narragansett Bay Insurance Company | $516 |
| The Hanover | $1,214 |
The best cheap homeowners insurance providers balance quality and cost, offering great customer service and coverage with affordable premiums. The best cheap homeowners insurance in Paterson depends on your needs. Consider factors like coverage options, deductibles and provider reputation.
To guide you through the process, we outlined key factors to consider when seeking the best and most affordable homeowners insurance for your home.
To determine how much home insurance coverage you need, consider the specifics of your home in Paterson, NJ, including rebuilding costs and liability requirements.
Research insurance companies serving Paterson, NJ. Look for those with strong financial stability, good customer reviews and a history of quality service.
Once you know your coverage needs, compare home insurance quotes. For $100K dwelling coverage in Paterson, NJ, premiums range from $412 with Chubb to $1,087 with ASI.
Inquire with each provider about discounts you may qualify for, such as bundling policies, installing safety features or maintaining a claims-free history.
Opting for a higher home insurance deductible can reduce your premium, but ensure it's an amount you can afford to pay if needed.
Enhancing home security with systems and sturdy locks can lower your home's risk profile and potentially reduce insurance costs.
Keep a good credit score as it can affect your insurance rates in Paterson, NJ. Pay bills on time and reduce outstanding debt.
Consider bundling your homeowners insurance with other policies like auto insurance. This can lead to discounts and savings.
The best cheap home insurance provider for you in Paterson depends on the coverage you need and your budget. Get answers to some of the most commonly asked questions about best cheap insurance rates in Paterson, New Jersey.
On average, home insurance in Paterson, New Jersey, costs $610 annually.
The cheapest home insurance company in Paterson, New Jersey, is Chubb with an annual premium of $412.
The [best home insurance in New Jersey](https://www.moneygeek.com/insurance/homeowners/best-homeowners-insurance-New Jersey/) for Paterson residents is provided by Chubb, with a MoneyGeek score of 98 out of 100.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
