Homeowners insurance can protect your home from weather-related damages or other risks. With MoneyGeek’s unique ranking system, you can compare home insurance policies in New Jersey and select the most affordable option for protecting your home from natural disasters and other catastrophes. MoneyGeek helps you compare the average premium rates in your states, so you can select the best and most affordable option for protecting your home.
The Best Homeowners Insurance Companies and Cheapest Quotes in New Jersey for 2022
The 5 Best Homeowners Insurance Companies in New Jersey
To obtain the best homeowners insurance in New Jersey, you can analyze each provider’s features such as cost, number of complaints, customer support quality, coverage options and ability to pay claims, among others. Select a provider that has a proven track record of processing and paying claims quickly.
MoneyGeek ranked the leading five companies based on their average rates, J.D. Power customer satisfaction scores and financial stability rating from AM Best to help you find a good home insurance policy in New Jersey.
USAA's home insurance services display excellent financial and claims ratings, multiple discounts and top-notch customer service. The company offers discounts such as auto and home combination, claims-free, membership loyalty, multiple products, good payment history, impact-resistant roof, automatic detection devices, home age and ADT home security systems rebates.
Travelers' home insurance policies offer coverage for dwelling, other structures, personal property, loss of use and personal liability. Its additional coverage options include special personal property, contents replacement cost, additional replacement cost protection, jewelry and valuable items, identity fraud, sump pump and water backup overflow or discharge, green home and personal articles floater. Available discounts include multi-policy, home buyer, loss-free, protective device and green home rebates.Read MoneyGeek's Travelers home Insurance Review
Besides standard coverage, State Farm presents additional coverage options, such as flood insurance, earthquake coverage, full replacement cost, energy efficiency upgrade, umbrella coverage, water backup and sump pump overflow, personal injury liability coverage, cyber event, fraud loss and identity restoration, home systems protection, off-premises structures, adult daycare, depreciated loss and service line. You can check if you qualify for rebates such as multi-policy, claim-free, roofing materials and home alert protection discounts.Read MoneyGeek's State Farm home Insurance Review
Allstate offers three home insurance packages, and each includes the standard coverages of dwelling, other structures, personal property, additional living expenses, personal liability and guest medical protection. Additionally, Allstate provides useful digital tools such as mobile and online claims filing, mobile and online policy and bill pay management.Read MoneyGeek's Allstate home Insurance Review
MetLife's basic home insurance policy covers threats such as damage caused by vehicles or aircraft, fire or lightning, explosion, smoke, windstorm or hail, riot or civil commotion, vandalism, theft, and volcanic eruption. MetLife stands out because it provides guaranteed replacement cost coverage for both your home and personal property. This coverage can pay the full sum needed to replace or repair your property without taking depreciation into account.Read MoneyGeek's MetLife home Insurance Review
What Is the Average Cost of Homeowners Insurance in New Jersey?
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The average annual rate of home insurance in New Jersey is $1,228, which is 41.6% less than the national average of $2,103. The baseline coverage for this state is $250,000. Providers estimate homeowners insurance in New Jersey based on elements such as crime rate, home value and exposure to bad weather conditions, among others.
Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in New Jersey
To determine the price of homeowners insurance in New Jersey, insurance carriers will evaluate your home’s age, dwelling value and location, among other assessments. Your home insurance premium could be more if your property is in a risk-prone area.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
The Cheapest Homeowners Insurance Quotes in New Jersey
Chubb is your best bet for cheap homeowners insurance in New Jersey for an average dwelling cost of $250,000. Its average annual premium is $745, which is $483, or 39.3%, less than the state average. It’s smart to compare homeowners insurance quotes from multiple providers to assess their coverage options and prices, and then select the most suitable policy for your house.
Cheapest Homeowners Insurance by Dwelling Coverage
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Best Cheap Homeowners Insurance Companies for Expensive Homes
If you own an expensive home, USAA offers cheap home insurance in New Jersey at a low average annual premium for a home valued at $2 million. But this company only serves military members and their families. The next most affordable option is Chubb, with an average annual cost of $5,500 for a $2 million property. Chubb also offers useful digital tools to make claims easier, as well as excellent customer service.
Cheapest Homeowners Insurance Companies for High-Value Homes
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Best Homeowners Insurance Companies if You Have a Pool
For pool homes with an average dwelling cost of $250,000, Chubb is the ideal option for best homeowners insurance in New Jersey. Its average yearly price is $764. Chubb includes pool protection as part of its standard home insurance policy.
Cheapest Homeowners Insurance for Pool Home
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Cheapest Home Insurance in New Jersey if You Have Poor Credit
Your insurance carrier may also consider your credit score while deciding your home insurance cost in New Jersey. You can reduce your home insurance rates by raising your credit score. You can do this by maintaining low credit card debt and making payments on time. Allstate presents the best homeowners insurance in New Jersey for those with poor credit. Its average annual premium is $1,223, with $250,000 in dwelling coverage.
Cheapest Homeowners Insurance for Poor Credit
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How to Get Homeowners Insurance Quotes in New Jersey
You need to provide necessary details like your name, phone number, address and Social Security number to your carrier to obtain home insurance in New Jersey. Plus, it would also help to inform them about the estimated value of your property, belongings and any add-ons like a trampoline or pool. It’s wise to get medical payments protection, in case a guest sustains injuries in your home — either using that pool or trampoline you may own — and you find yourself held responsible for it. Based on your answers, the provider will come up with your personalized home insurance quote.
Other Considerations for Homeowners Insurance in New Jersey
Factors like the average home value, weather risks and crime statistics in your area can also impact your homeowners insurance price in New Jersey. For example, New Jersey ranks 47th for the number of crimes in the U.S. FBI statistics show that there were 18,537 violent crimes and 125,156 property crimes in the state in 2018.
New Jersey ranks 9th for home value, with an average cost of $335,607. Hazardous weather conditions can pose a threat of damaging your home in some areas. You can prepare for emergencies by obtaining adequate home insurance coverage.
MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in New Jersey that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across New Jersey. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.
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