Best Homeowners Insurance in New Jersey (2024)


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Updated: October 3, 2024

Advertising & Editorial Disclosure

Chubb is the premier home insurance company in New Jersey, though what's best for you can vary based on individual needs. Chubb also emerges as the most cost-effective choice, perfect for both new homeowners and those with expensive homes seeking higher dwelling coverage limits.

Unless otherwise stated, we used a $100,000 dwelling coverage limit to collect quotes. The amount of dwelling coverage you need will influence your premium. We also assessed the cheapest home insurance in New Jersey if you’re prioritizing budget over service.

MoneyGeek Logo IconBest HomeInsuranceNew Jersey
2024

Why Trust MoneyGeek? Our analysis includes insights from the New Jersey Department of Insurance and Quadrant Information Services to pinpoint the premier homeowners insurance for New Jersey.

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Home insurance rates in New Jersey represent the latest quotes as of July 2024.

1,209,600Quotes Analyzed
 
8Companies Compared
 
11ZIP Codes

Overall Best Homeowners Insurance in New Jersey

The best home insurance in New Jersey is offered by Chubb. For homeowners seeking reliable coverage, understanding the top-rated options is important.

  • Chubb: MoneyGeek score of 98 out of 100 ($380 per year)
  • State Farm: MoneyGeek score of 86 out of 100 ($568 per year)

In New Jersey, homeowners can experience varying costs and services across different insurance companies. Strike a delicate balance between affordable rates and quality service that caters to your unique needs as a homeowner, thereby ensuring financial prudence and peace of mind.

Company logo for Chubb
Best OverallChubb
MoneyGeek Score:
98/ of 100

Overview

Chubb leads in New Jersey's home insurance market, earning the top spot for both affordability and customer satisfaction. The average annual premium for Chubb is $380.

Chubb offers several unique coverages, including cash settlement and risk consulting. Cash settlement gives homeowners the choice to take a cash payout if your home is totally destroyed, offering flexibility during a distressing time. Risk consulting provides customized expert advice to minimize risks and enhance home safety, equipping homeowners with knowledge to prevent future losses.

Best Homeowners Insurance in New Jersey for Customer Service

Chubb offers the best home insurance in New Jersey for service quality. Homeowners looking for exceptional service should note these insurers:

  • Chubb: MoneyGeek score of 94 out of 100 ($380 per year)
  • Narragansett Bay Insurance Company: MoneyGeek score of 81 out of 100 ($521 per year)

Valuing service quality in a home insurance provider is important; it ensures a swift response when mishaps occur. For example, following significant home damage, an insurer with high service quality would handle claims efficiently, reducing stress for homeowners during recovery.

Company logo for Chubb
Best for ServiceChubb
MoneyGeek Score:
94/ of 100

Overview

Chubb, the top home insurance provider in New Jersey, achieves a perfect customer satisfaction score, indicating superior service quality. Its average annual premium is $380.

Among Chubb's coverages, cash settlement offers homeowners the choice to receive cash in the event of a total covered loss, providing financial flexibility during challenging times. Risk consulting grants access to preventative advice, potentially saving homeowners from future hazards and associated costs.

Best Cheap Homeowners Insurance in New Jersey

Chubb offers the most affordable home insurance in New Jersey if you’re on a tight budget. Chubb not only offers competitively priced premiums but also ranks high in customer satisfaction.

  • Chubb: MoneyGeek score of 99 out of 100 ($380 per year)
  • State Farm: MoneyGeek score of 87 out of 100 ($568 per year)

The cheapest premiums do not always equate to the best service. To truly safeguard your home, seeking a provider that offers a balance between affordable premiums and excellent service is key. Consider the average cost of home insurance in New Jersey for a broader perspective.

Company logo for Chubb
Best CheapChubb
MoneyGeek Score:
99/ of 100

Overview

Chubb has a perfect affordability score, and homeowners on a strict budget will find its average annual premium reasonable at $380.

Chubb caters to cost-conscious homeowners by offering a variety of common and reasonably common discounts that help reduce premiums further. Its protective device discount rewards those with safety installations, making homes more secure and potentially lowering insurance costs. The claims free discount benefits homeowners with a history of no claims, recognizing their low-risk profile with additional savings.

These complement Chubb's slate of beneficial coverages including guaranteed replacement cost, which ensures full home rebuilding regardless of policy limits, and personal property replacement cost, offering full value replacement for personal belongings without depreciation.

Best Homeowners Insurance in New Jersey for Expensive Homes

Chubb offers the best home insurance in New Jersey if you have high-value properties. These providers ensure optimal coverage with policies offering $1 million in dwelling coverage.

  • Chubb: MoneyGeek score of 85 out of 100 ($3,335 per year)
  • State Farm: MoneyGeek score of 84 out of 100 ($3,065 per year)

Chubb demonstrates a prime balance for expensive home insurance, where costs are influenced by higher coverage needs. Homeowners should aim for a provider that harmonizes cost with quality to safeguard your valuable investment.

Company logo for Chubb
Best for Expensive HomesChubb
MoneyGeek Score:
85/ of 100

Overview

Chubb is the premier home insurance provider for expensive homes in New Jersey, with competitive affordability. Homeowners can expect an average annual premium of $3,335. Its protective device discount, rewards the installation of security devices like alarms and detectors, making sure that those insuring costly properties can boost their savings while ensuring ample protection for their investments.

Chubb offers guaranteed replacement cost, which helps to rebuild your home even if costs exceed your policy limits. It also offers sewer or drain back-Up coverage, providing a safeguard against water damage from sewage or drainage issues. These additional protections are vital for high-value homes, where risks and potential costs are higher.

Best Homeowners Insurance in New Jersey for New Homes

Chubb is the besthome insurance provider in New Jersey for those with new homes. These providers set the benchmark for policies offering $500,000 in dwelling coverage.

  • Chubb: MoneyGeek score of 93 out of 100 ($1,236 per year)
  • Narragansett Bay Insurance Company: MoneyGeek score of 41 out of 100 ($1,810 per year)

Chubb achieves a high affordability and service scores, offering homeowners in New Jersey an excellent balance between cost and quality service.

Company logo for Chubb
Best for New HomesChubb
MoneyGeek Score:
93/ of 100

Overview

Chubb snags the title for best home insurance provider for new homeowners in New Jersey, boasting a perfect affordability score and an average annual premium of $1,236. Its guaranteed replacement cost coverage ensures your new home is rebuilt to its original state after a covered loss, regardless of inflation or price changes.

Chubb's offers discounts for protective devices and the advantage of a new home. Equip your residence with security systems or fire alarms to receive a protective device discount, or relish a price cut simply for inhabiting a newer abode.

Best Homeowners Insurance in New Jersey for Veterans

For veterans and their families in New Jersey, Chubb stands out as the top home insurance provider. Offering an annual premium of $380, Chubb provides value and coverage.

  • Chubb: MoneyGeek score of 93 out of 100 ($380 per year)
  • USAA: MoneyGeek score of 83 out of 100 ($670 per year)

The best homeowners insurance for veterans. is attuned to your specific needs, including the readiness for frequent moves and deployments. Your home\ and possessions are safeguarded, no matter where your service takes you.

Company logo for Chubb
Best for VeteransChubb
MoneyGeek Score:
93/ of 100

Overview

Chubb, with high scores in claims handling and affordability, provides superior value with an average annual premium of $380. One standout feature is its guaranteed replacement cost coverage, ensuring homeowners can rebuild their home to the original quality, even if costs exceed policy limits.

With discounts like the new home discount, Chubb rewards those who insure recently constructed homes by reducing their premium. Additionally, the home renovation discount provides savings for homeowners renovating their home's electrical, heating, or plumbing systems.

How to Find the Best Homeowners Insurance in New Jersey for You

The best homeowners insurance providers strike the right balance between cost and quality, ensuring exceptional customer service and comprehensive coverage at a price that fits your budget.

Selecting the ideal policy hinges on your individual needs, ranging from the value of your property to the specific risks associated with your location. We provide practical steps that will guide you to the most suitable homeowners insurance for your home and lifestyle.

1
Assess Your Insurance Needs

Evaluating your property and belongings to determine how much home insurance coverage you need. Factors include rebuilding costs, personal property value, and liability needs.

2
Research Various Providers

Scrutinize homeowners insurance providers by investigating their reputation, financial stability and customer service records. Look for companies well-established in your region, and consider their response to claims. It's important to have a reliable partner in times of need.

3
Compare Coverage and Costs

Obtain quotes from several insurers, ensuring a fair comparison of the coverage options versus the premiums. Pay special attention to deductibles, limits, and exclusions. Tools that compare home insurance quotes can streamline this process and help you discern the best value proposition.

4
Understand the Policy Details

Analyze the fine print regarding coverage triggers, claim settlement options (replacement cost vs. actual cash value), and riders for high-value items to ensure there are no surprises during a claim.

5
Consult with an Independent Agent

For personalized guidance, engage with an independent insurance agent. They can offer industry insights, clarify doubts, and assist in matching your unique needs with the right policy. An experienced agent becomes instrumental in fine-tuning your coverage preferences and navigating the complexities of homeowners insurance.

FAQ: Homeowners Insurance in New Jersey

Selecting the best homeowners insurance provider in New Jersey hinges on your individual requirements. As you navigate this decision, consider the following FAQ to guide you to a provider that aligns with your needs.

Which insurance company is best for home insurance in New Jersey?
Who has the most affordable homeowners insurance in New Jersey?

About Mark Fitzpatrick


Mark Fitzpatrick headshot

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.