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The Best Homeowners Insurance in New Jersey [2023]

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Find a top-ranked Homeowners Insurance Agency in your area

From the Jersey Shore to views of lower Manhattan, there’s much to be desired about New Jersey. Not to mention, the state is home to more than 5,000 information and technology companies and boasts headquarters for pharmaceutical and biotechnology giants like Merk and Johnson & Johnson. Whether it’s for business or pleasure, the Garden State is undoubtedly an attractive place to buy a home. 

Once you’ve found your dream home, you’ll want to protect it. As the state borders the Atlantic Ocean, houses are particularly vulnerable to natural disasters such as  flooding, windstorms, hurricanes, and tropical storms. 

We at Expertise.com have compiled the best agencies, home insurance rates, and coverage options for New Jersey homeowners so that you can protect your home and everything in it.

Average Cost of Homeowners Insurance in New Jersey

The average cost of basic home insurance coverage in New Jersey is $1,744 according to Insurance.com, making NJ one of the most affordable places to purchase home insurance in the country.

The cost of an insurance policy for your New Jersey home can differ vastly based on a few key factors:

  • The age of your home: Is your home an older home that is at risk of more structural wear and tear?

  • The square footage of your home: How big is your home? In general, larger homes will cost more to insure.

  • The materials used to build your home: Was your home built using materials prone to things like rotting or structural damage?

  • Building costs in your area: Because insurance deals with repairs and replacement, coverage increases with increased building costs.

  • The location in which you live: What are crime rates like? How close are you to a fire department? How close are you to water or the shoreline?

  • Any additional features: Does your house have a swimming pool or hot tub that could pose a potential risk to guests? Do you have pets, and if so, what are their breeds? Surprisingly, insurers will look at these things when assessing prices.

  • Your deductible: A higher deductible will decrease your premium, but could cost you more if you file a claim. Talk to your insurance provider about diminishing deductibles to get the best plan that suits your payment needs.

New Jersey Homeowners Insurance Rates by City

Below is a breakdown of the average annual rate by city:

City

Average Annual Rate

Clifton

Hoboken

Passaic

Elizabeth

Trenton

Paterson

Camden

Jersey City

Newark

Asbury Park

The Best Homeowners Insurance in New Jersey

With so many insurance companies to choose from, it can be challenging to narrow down the best coverage options for your specific needs. Below are the best providers based on coverage, cost, and customer ratings.

USAA logo

USAA


Average Annual Rate: ~$770

Notes: Only available for military members, veterans, and eligible family members.

State Farm logo

State Farm


Average Annual Rate: ~$780

Notes: Offers some roof-related discounts, however, is limited in overall discounts.

Allstate logo

Allstate


Average Annual Rate: ~$950

Notes: Various coverage options, but scores high on NAIC’s complaint index. 

New Jersey Manufacturers

New Jersey Manufacturers


Average Annual Rate: ~$370

Notes: Offers several discount options, including one for seniors and others for installing storm protection features to your dwelling. 

Travelers logo

Travelers


Average Annual Rate: ~$635

Notes: Has low average premiums and offers a wide range of discounts such as deals for green homes and being loss-free.

Average rates are for annual policies with $250,000 in dwelling coverage.

Cheapest Homeowners Insurance in New Jersey

If you’re looking for an insurance company with more affordable options, NJM (New Jersey Manufacturers) has annual rates as low as $522 per year. Find a few of the cheapest private insurer options for home insurance below: 

  • NJM

  • New Jersey Skylands  

  • Cumberland Mutual 

  • Narragansett Bay 

Don’t forget that insurance prices vary depending on each homeowner’s location and coverage needs, but shopping around to get the best annual rate and premium quotes is a good idea if cost is an important factor in your decision. 

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Find Cheap Homeowners Insurance in Your Area

FAQs

Below, we tackle some common questions to help you make a more informed decision about which homeowners insurance to choose in New Jersey specifically. 

How to Reduce Homeowners Insurance Costs in New Jersey

It’s best not to cut corners when it comes to coverage or insuring your home, however there are a few ways that you can reduce your costs, without sacrificing your coverage.

  • Increase your deductible. This will help reduce monthly costs to your insurer, but it may mean paying more out of pocket should you need to make a claim. Similarly, paying your 6-month or 1-year premium in full will drive down monthly costs.

  • Bundle policies. Bundling your home and auto insurance can help you save 5–15% on your premiums. Talk to your insurance provider about home and car insurance bundling options and how that helps you save.

  • Take the necessary steps to make your home disaster-resistant. Some examples include:

    • Install a smoke detector and/or fire alarm.

    • Get a burglar alarm and/or deadbolt locks.

    • Install a sprinkler system.

  • Nix the high-risk accessories. Similar to the above point, rid your home of things that are considered “high risk.” For example, did the kids go off to college? Time to throw out that trampoline that’s sitting in the backyard.

  • Seek out other discounts. Some things to look into:

    • Do you work from home? Insurance providers may feel you’re less prone to theft or may spot a fire or flood sooner.

    • Are you retired? You may qualify for a discount. 

    • Does your employer offer a group deal?

    • Even something as simple as choosing paperless billing can help you save!

  • Keep good credit. Some agencies will look at your credit history and charge less for those with good financial strength and standings.

As always, consult your insurance agent to see which of the above discounts you qualify for.

New Jersey Insurance Options in Your City

At Expertise.com, our goal is to connect New Jersey residents with the best local experts and agencies, so you can find the homeowners policy that safely insures your home and most prized possessions. 

View our list of the 13 best homeowners insurance agencies here

Learn more about the best homeowners insurance policy options in your respective New Jersey cities below:

Our methodology evaluates each provider based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.