Find the Best Homeowners Insurance Rates and Companies in New Jersey
The median home value in New Jersey is around $466,000. If you own a home in New Jersey, chances are your home is your most important asset. You’ll want to protect it from threats like fire, theft, vandalism, and severe weather. What’s more, you’ll want to protect your assets from the costs of lawsuits if you are sued for something that happens on your property. You can do this with homeowners insurance in New Jersey.
An independent insurance agent can help you find the best home insurance in New Jersey. Independent agents can help you get quotes from multiple insurance companies so that you can make the best choice for your needs and budget.
Best Homeowners Insurance Companies in New Jersey
Many insurance companies in New Jersey offer home, car, and business insurance. The following are some of the best homeowners insurance companies New Jersey. They are highly rated for their mix of valuable coverage offerings and competitive pricing.
- Hanover Insurance Group: Together with local independent agents, Hanover Insurance Group offers you tailored home insurance coverage options for your needs with the services and convenience you expect.
- Progressive: Progressive is based in Ohio, but offers homeowners insurance across all 50 states, including New Jersey. New Jersey residents can look to Progressive for most of their personal insurance needs.
- Travelers: Travelers offers highly rated homeowners insurance in New Jersey. It can meet your additional personal insurance needs with a full line of products including auto, boat, identity theft, umbrella, and other coverages.
- Stillwater Insurance Group: Stillwater is a national personal and commercial lines carrier with rock-solid financial stability. The company can help you with your homeowners insurance needs in New Jersey.
An independent insurance agent in your area can help you learn more about these and other homeowners insurance companies in NJ. A local agent can help you get competitive quotes for the coverage that fits your insurance needs in New Jersey.
What Can Homeowners Insurance in New Jersey Cover?
Homeowners insurance is designed to cover certain types of property damage in New Jersey. The biggest risks to property in New Jersey include storms, flooding and water damage, heavy snow, and burglary and property crimes.
And New Jersey is no stranger to major disasters either:
- Number of declared disasters in New Jersey since 1953: 53
- Most common types of disasters in New Jersey: Severe storms and Tropical storms/hurricanes
- Average number of tornadoes per year in New Jersey: 2
- Average amount of property damage claims per year in New Jersey: $1,078,146,000
Your home insurance policy in New Jersey will help you with the following types of coverage when a minor or a major event damages your home:
- Dwelling coverage: Covers your house and attached structures. It also covers items like plumbing, heating, and permanently installed air-conditioning systems, and electrical wiring.
- Other structures coverage: Protects other structures on the property such as detached garages, tool sheds, retaining walls, and so on.
- Personal property coverage: Protects the contents of your home and other personal belongings owned by you or family members who live with you.
- Loss of use coverage: Helps you with additional living expenses if your home is damaged by a covered peril (e.g., a fire) and you cannot live in your home while repairs are being made. It typically covers expenses like housing, meals, storage, and more, as long as they are in line with your usual living expenses.
- Personal liability coverage: Provides coverage if you or a resident of your household is responsible for causing property damage or an injury to someone else.
A local independent insurance agent can help you find the best homeowners insurance in New Jersey.
What Won't Homeowners Insurance in New Jersey Cover?
Homeowners insurance in New Jersey excludes coverage for certain losses. It does not cover everything that can go wrong with your home or on your property.
First, the liability coverage in your homeowners insurance policy has certain limitations. If you hurt someone because of an intentional act, your liability coverage will not cover you. You can find all the exclusions to your liability coverage in your policy documents.
Moreover, your property coverage will not cover every type of property damage you might encounter. Almost all homeowners insurance policies in NJ exclude coverage for property damage caused by the following:
- Ordinance or law (e.g., demolition or construction required to bring your house up to code)
- Earth movement (e.g., earthquakes, sinkholes, landslides)
- Water damage due to floods, sewer back-ups, and water that seeps through the foundation
- Power failure
- Neglect
- War
- Nuclear hazard
- Intentional acts
- Governmental action (e.g., destruction, confiscation, or seizure of covered property by any governmental or public authority)
- Loss to property resulting from faulty zoning, bad repair or workmanship, faulty construction materials, and defective maintenance
To avoid any surprises down the road, be sure to understand what your home insurance in NJ does and does not cover when you decide to purchase a policy.
Flood Damage in New Jersey
Flooding can be a significant concern for many homeowners, but homeowners insurance in New Jersey does not cover flood damage.
Flooding can be a problem in some areas of New Jersey. In fact, it is one of the top five risks for homeowners in the state. Some areas of the state will have a higher likelihood of flooding than others.
It’s important to discuss your need for supplemental flood insurance with your independent insurance agent.
If necessary, your agent can help you purchase flood insurance from the National Flood Insurance Program (NFIP), a program established by the federal government to help homeowners recover after a flood event.
Average Cost of Homeowners Insurance in New Jersey
New Jersey is the 23rd most expensive state for home insurance in the US. The average cost of homeowners coverage in New Jersey is lower than the national average.
- National average yearly premium: $1,211
- New Jersey average yearly premium: $1,192
Every insurance company has a different formula for calculating insurance premiums. They want to predict how risky you are to insure, or how likely you are to file a costly claim.
If your property’s location comes with more hazards than most, expect to pay more. You will also pay more if your home will cost more to repair or rebuild than others. Insurance companies may evaluate the following risk factors to determine your home insurance cost in New Jersey:
- The size, age, and value of your house
- Whether the property is your primary residence or a second home
- The number of stories in your house and whether it has a basement
- The crime, weather, and disaster risks in your area
- Your previous home insurance claims history
The best way to make sure you are getting the best price for your unique home is to compare quotes from multiple insurance companies. A local independent insurance agent can help you get home insurance quotes in New Jersey.
How well do New Jersey's cities measure up to the national average?
National average burglary rate 3.76 per 1,000 people
National average home value $269,000
National average home insurance cost $1,428 year
| City | Annual insurance cost | Avg. home value | Burglaries / 1,000 homes |
| Basking Ridge | $2,510 | $730,430 | 0.93 |
| Bloomfield | $1,181 | $328,850 | 4.03 |
| Brick | $944 | $264,900 | 3.49 |
| Cherry Hill | $957 | $236,472 | 7.98 |
| Egg Harbor | $693 | $148,982 | 9.67 |
| Elizabeth | $994 | $263,800 | 5.66 |
| Englewood | $2,110 | $600,645 | 3.1 |
| Evesham | $1,055 | $291,200 | 4.26 |
| Ewing | $930 | $262,006 | 3.32 |
| Fair Lawn | $1,535 | $445,250 | 1.87 |
| Franklin | $636 | $197,326 | 0.62 |
| Hackensack | $1,116 | $330,937 | 1.12 |
| Hamilton Square | $996 | $284,600 | 2.82 |
| Hoboken | $2,526 | $813,627 | 1.92 |
| Hopatcong | $807 | $238,210 | 1.74 |
| Howell | $1,211 | $355,900 | 1.43 |
| Jackson Towship | $1,197 | $353,000 | 1.28 |
| Jersey City | $1,336 | $376,300 | 3.58 |
| Maplewood | $1,517 | $431,801 | 3.04 |
| Middletown | $1,352 | $398,700 | 1.09 |
| Mount Laurel | $847 | $244,500 | 2.46 |
| Newark | $854 | $235,200 | 4.04 |
| New Brunswick | $1,140 | $305,849 | 5.58 |
| Parsippany/TroyHills | $1,411 | $414,000 | 1.28 |
| Passaic | $1,180 | $337,332 | 2.79 |
| Paterson | $769 | $223,600 | 6.5 |
| Pennsauken | $769 | $170,531 | 9.72 |
| Pennsville | $603 | $152,866 | 2.36 |
| Phillipsburg | $613 | $138,888 | 4.71 |
| Summit | $2,913 | $846,364 | 0.82 |
| Toms River | $1,003 | $286,600 | 2.81 |
| Union City | $1,011 | $297,000 | 1.67 |
| Vernon | $656 | $188,300 | 2.71 |
| Vineland | $750 | $168,759 | 9.19 |
| Washington Township | $1,872 | $553,899 | 0.15 |
| West Milford | $1,097 | $314,219 | 2.69 |
| Woodbridge | $943 | $276,931 | 1.75 |
Popular Questions about New Jersey Home Insurance
The average cost of homeowners insurance in New Jersey is $99 per month. That's slightly less than the national average of $101. Home insurance costs in New Jersey will vary depending on your level of risk and several other factors.
The main purpose of homeowners insurance is to cover property damage. Home insurance policies in New Jersey will include dwelling coverage, other structures coverage, personal property coverage, and loss of use/additional living expenses coverage.
Homeowners insurance in New Jersey also includes homeowners liability coverage. It protects you when someone claims you have caused an injury or property damage. It covers the injured party's expenses (e.g., medical bills, property repairs) and your legal fees if you're sued. After a lawsuit, it can even cover financial settlements or court-ordered judgments.
There is no law that requires you to purchase home insurance in New Jersey. However, it's important to understand that your mortgage lender will require you to have homeowners insurance and will require proof that you have it. With over $1 billion in home insurance claims paid in New Jersey in one year alone, proper home insurance protection is necessary to avoid major losses.
Homeowners insurance rates in New Jersey are not one-size-fits-all. Insurance companies calculate your rates by looking at your home, the risk factors for your neighborhood, and your specific coverage needs.
If you live in a ZIP code with a high crime rate or one that is highly susceptible to natural disasters, you can expect to pay more than someone living in a safer area. If your home or neighborhood has a prior history of damaging severe storms (there are 18 per year in New Jersey) or tornadoes (2 per year in New Jersey), you’re likely to pay more than someone who lives in an area where these events happen less frequently or not at all.
Yes. New Jersey has 485 independent insurance agencies to choose from when selecting home insurance. Independent agents work for you free of charge, ensuring that you get the best options for an affordable rate.
You have a lot of options for your homeowners insurance policy in New Jersey. The best home insurance companies in New Jersey are Travelers, Progressive, Hanover Insurance Group, and Stillwater Insurance Group. These companies are highly rated for their mix of valuable coverage offerings and competitive pricing.
Searching for the best and most affordable homeowners insurance in New Jersey can be frustrating and confusing. That’s why it pays to have an experienced insurance professional in your corner.
Instead of getting an online quote, find an independent insurance agent in New Jersey now, and get one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of options so you can make the best choice.
Contact an agent today for a free, no-obligation consultation.
Do You Know What Your Home Insurance Covers in New Jersey?
Average Cost of Home Insurance Near You
Average monthly cost of Evesham, NJ home insurance: $80
Your cost could be higher or lower. It just depends on variables like your home's age and square footage, your credit score, and your previous claims.
Common homeowners claim in Evesham: Wind damage.
Evesham is a high-risk area for hurricanes and has a long history of serious storm systems that cause widespread damage. In 2013, Hurricane Andrea dumped heavy rain on Evesham, and high wind speeds led to falling trees and serious destruction. Many homeowners rely on insurance to cover wind damage, such as broken windows and missing shingles.
Average monthly cost of Lower Township, NJ home insurance: $126
Your personalized premium might be slightly higher or lower. It all depends on factors like your credit score, the size and age of your home, and your previous claims history.
Common homeowners claim in Lower Township: Property damage.
It's another frigid winter in Lower Township, and the latest snowstorm dumped over a foot of snow on your neighborhood. You had been meaning to replace your old roof but waited a bit too long, and now the weight of the snow has caused part of the roof to collapse. Snow is melting into your kitchen, and the water damage is starting to look serious. It's time to file a claim with your homeowners insurance plan to cover the cost of a new roof and the related water damage inside your home.
Average monthly cost of Middletown, NJ home insurance: $194
The likelihood of natural disasters plays a major role in determining the cost of your home insurance. In Middletown, winter weather is often severe and hurricanes are a serious threat. This could increase your premium.
Common homeowners claims in Middletown: Damage from wind or hail.
After a night of high winds, pounding rain and intermittent hail, you walk outside to assess the damage. Your yard is littered with trash and fallen limbs, and your roof is missing quite a few shingles. Even worse, a backyard tree has fallen toward your home, breaking the glass out of a bedroom window. Hurricanes wreak havoc on Middletown homes, but when you file a claim with your homeowners insurance provider, you'll receive the compensation you need to repair the damage.
Average monthly cost of Parsippany-Troy Hills, NJ home insurance: $89
Your premium could be higher or lower, depending on variables like your credit score, the crime in your neighborhood, and the size of your home.
Common homeowners claim in Parsippany-Troy Hills: Fire damage.
It's the middle of the night and your smoke detector starts blaring. You quickly gather your family members and head outside to call 911 as smoke billows from upstairs. When the flames are finally put out, you're relieved that everyone is safe, but your home has suffered serious damage from the fire. Parsippany-Troy Hills homeowners insurance will handle the cost of rebuilding and repairs after fire damage, so you're covered.
Average monthly cost of Washington Township, NJ home insurance: $108
Rates vary for every homeowner, depending on the home's size and location, its construction materials, and the local crime rate. Your actual cost for home insurance might be a little more or a little less than the average.
Common homeowners claim in Washington Township: Water damage.
One minute you're doing laundry and it's a normal day, and then suddenly water is gushing all over the floor, thanks to a broken hose on your washer. You shut the water off and mop up the mess, but a couple of days later, you notice the laminate flooring is starting to buckle. Water damage has taken hold, but there's no need to worry. Your Washington Township homeowners insurance plan will cover the cost to fix the damage.
Average monthly cost of Woodbridge, NJ home insurance: $83
Your premium might be slightly higher or lower, depending on the square footage of your home, the home's location, and the crime rate in your neighborhood.
Common homeowners claims in Woodbridge: Theft or burglary.
When you come home from work and discover that you've been robbed, it can really shake you up. Your home is in shambles, your valuables are missing, and you feel anything but safe. Home insurance steps in after a burglary to replace stolen valuables and pays to repair broken windows or other damage to your home.
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