New Jersey Skylands is the cheapest home insurance option for most homeowners in the Garden State, with an average monthly savings of $430. Below is a summary of the most affordable providers in the region.
Cheapest Home Insurance in New Jersey
Updated: May 27, 2025
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Key Takeaways
Farmers offers the cheapest homeowners insurance in New Jersey if you own a new home or have bad credit.
Customers can find savings of up to 86% from the cheapest overall providers in New Jersey: Farmers, New Jersey Skylands and Chubb.
If you live in a high-fire-risk area, Chubb is the cheapest provider for home insurance in New Jersey.
What is the Cheapest Home Insurance in New Jersey?
| New Jersey Skylands | $69 | $824 | 37% |
| Chubb | $74 | $891 | 32% |
| State Farm | $90 | $1,079 | 17% |
| Farmers | $95 | $1,138 | 13% |
*These rates are based on a house built in 2000 with a $1,000 deductible, $250,000 in dwelling coverage, $125,000 in personal property coverage, $200,000 in liability coverage and class 3 fire protection. The insured is assumed to have good credit and no claims in the past five years.
THE CHEAPEST COMPANY MAY NOT BE THE BEST FOR YOU
Price is important to consider for home insurance, however it's also useful to know about a company's customer service reputation and coverage options. To help, we've created a separate guide to the best home insurance companies in New Jersey, giving you more information to make the best decision for your situation.
Cheapest New Jersey Home Insurance Rates by Category
While we’ve listed the cheapest options for most homeowners, those rates may not reflect your specific situation. For instance, while New Jersey Skylands is typically the cheapest overall, Farmers offers the best rates for newer homes. To help, we’ve outlined the cheapest companies on average for common categories.
| New Jersey Skylands | Older Homes | $69 |
| Farmers | Newer Homes | $42 |
| Chubb | Homes in High Risk Fire Areas | $74 |
| New Jersey Skylands | Bad Credit | $129 |
*Rates are modified based on our methodology’s base profile. Newer home estimates are based on a home built in 2023, high-risk fire estimates are for a policy with 8-class fire protection, and bad credit rates assume a poor credit score on the FICO scale.
Compare Personalized Cheap New Jersey Home Insurance
The companies listed above typically provide the best rates for their categories, but actual rates vary based on your unique profile. Use the filter below to get a personalized list of the cheapest providers for your situation.
Data filtered by:Results filtered by:
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Coverage Level:$250K Dwelling / $125K Personal Property / $200K Liability
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Deductible:1000
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Claims History:Claim free for 5+ years
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Credit Tier:Good
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Home Age:Older Homes
| New Jersey Skylands | $71 | $857 |
| Chubb | $74 | $891 |
| State Farm | $90 | $1,079 |
| Farmers | $95 | $1,138 |
| Narragansett Bay Insurance Company | $125 | $1,498 |
Cheapest New Jersey Home Insurance By City
Risk factors for insurers vary by location, making some providers more affordable than others. For example, New Jersey Skylands is the cheapest in most cities, but in other places, different providers might offer lower rates.
| Elizabeth | New Jersey Skylands | $66 |
| Jersey City | New Jersey Skylands | $77 |
| Newark | New Jersey Skylands | $80 |
| Paterson | New Jersey Skylands | $76 |
*These rates are based on a house built in 2000 with a $1,000 deductible, $250,000 in dwelling coverage, $125,000 in personal property coverage, $200,000 in liability coverage and class 3 fire protection. The insured is assumed to have good credit and no claims in the past five years.
How To Find the Cheapest New Jersey Home Insurance for You
Finding affordable home insurance in New Jersey can be challenging, but you can significantly lower your costs with some effort. Below are our core recommendations to help you maximize savings on your policy.
- 1
Determine your coverage needs
Having your coverage limits in mind before buying can keep you from being oversold on coverage. Make sure you determine your home insurance coverage needs beforehand and understand the types of home insurance coverage to get what you need.
- 2
Research home insurance cost information
Maximize your savings with bundled home and car coverage options in New Jersey.
- 3
Bundle your policies
When you bundle your home insurance policy with another type of policy, you can save a lot of money by staying with the same provider. Texan residents can save up to x% on home insurance when bundling with auto policies.
- 4
Compare multiple companies apples to apples
Once you know your coverage levels and type, compare quotes from different companies for that coverage to get the best deal. We recommend gathering as many quotes as possible using different methods to get your best rate.
- 5
Use state-provided programs
If you have a high-risk profile and face coverage denials or unaffordable rates, New Jersey offers a state program through the New Jersey Insurance Underwriting Association (NJIUA). This program provides coverage for those denied by traditional insurers, often at a lower cost than insurers willing to approve you.
Cheap Home Insurance New Jersey: Bottom Line
New Jersey Skylands, Chubb, and State Farm offer some of the most affordable home insurance in New Jersey. Should traditional coverage be unavailable, state programs can provide low-cost policies. Always compare multiple insurers, research costs, and assess your coverage needs to make the best decision.
Cheapest Home Insurance New Jersey: FAQ
Below are answers to frequently asked questions about the cheapest home insurance in New Jersey:
What is the cheapest home insurance company in New Jersey?
Farmers offer the lowest rates for newer homes in New Jersey at $42 per month or $510 per year. However, homeowners with older properties or higher fire protection needs may find better rates with New Jersey Skylands or Chubb.
How expensive is home insurance in New Jersey?
New Jersey has the 19th-highest home insurance rates in the U.S.
How much is home insurance in New Jersey?
Your home insurance should cover the full replacement cost of your home and sufficiently protect your personal belongings and liabilities.
While not legally required if your home is paid off, mortgage lenders demand sufficient coverage to replace your home in a total loss. Choose a policy that covers the replacement value of your home, reflects the worth of your personal property, and accounts for local risks and valuable possessions.
How much home insurance do I need?
Your home insurance should cover the full replacement cost of your home and sufficiently protect your personal belongings and liabilities.
While not legally required if your home is paid off, mortgage lenders demand sufficient coverage to replace your home in a total loss. Choose a policy that covers the replacement value of your home, reflects the worth of your personal property, and accounts for local risks and valuable possessions.
How We Found the Cheapest Home Insurance Companies in New Jersey
To determine the cheapest home insurance companies in New Jersey, we assumed the following base profile:
- $250K dwelling coverage
- $125K personal property coverage
- $200K liability coverage
- Home built in 2000
- Frame construction
- Composition roof
- $1,000 all perils deductible
- No claims in the past 5+ years
- 3-class fire protection
All other combinations were adjusted based on this profile to provide a more accurate comparison for your specific situation. However, these figures are estimates, and we recommend comparing quotes from multiple providers to secure the best deal.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.