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The Best Homeowners Insurance Companies in New Jersey

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Among the home insurance companies serving New Jersey, we found Amica Mutual to be great overall. And we picked four others that do a terrific job as well for their different reasons. Using SimpleScore and our proprietary methodology, our team evaluated the top five insurance providers in New Jersey to help simplify your shopping experience.

America’s top-rated home insurance

  • Policies starting at just $25/month
  • Sign up in seconds, claims paid in minutes
  • Zero hassle, zero paperwork

Our methodology

Using our proprietary scoring system, called SimpleScore, we assessed the top home insurance companies. We looked at available discounts, coverage options, customer satisfaction, accessibility and quality of support.

We also looked at other reputable reviewers, such as J.D. Power, which tracks customer satisfaction each year, and Consumer Reports, which looks at such factors as satisfaction in policy reviews, claims, and other elements of choosing great home insurance.

The best homeowners insurance in New Jersey

Great overall – Amica

With a broad range of coverage options, unique discounts and high customer satisfaction, the only question you’ll have about Amica Mutual is, “Where do I sign up?”

From affordability and coverage options to available discounts and customer satisfaction, Amica Mutual offers great overall homeowners insurance coverage in New Jersey.

Great for coverage add-ons – Allstate

Leave nothing left to chance with the robust coverage add-ons available at Allstate.

Allstate provides New Jersey residents with some of the most unique and comprehensive coverage add-ons, allowing them to protect all of their belongings — yup, even the tennis racket.

Great in affordability – NJM Insurance

Who said homeowners’ insurance in New Jersey had to cost an arm and a leg? NJM Insurance makes protecting your home easy and affordable.

SimpleScore

4.2 / 5.0

SimpleScore NJM Insurance 4.2

Offering great affordable homeowners’ insurance products, NJM Insurance is a strong option for New Jersey residents. But it doesn’t stop there, NJM also offers plenty of coverage options and vast discounts to make your home insurance even more affordable.

Great in claims processing – State Farm

If you’re looking for a team of actual humans to help process your claim, State Farm is definitely the insurance carrier you need for your New Jersey home.

What State Farm lacks in coverage add-ons and discounts, they more than make up for with excellent customer service and superior claims-management services. State Farm not only provides you with great insurance, but its website offers personal finance tools to help you make smart money moves.

Great in policy management – Plymouth Rock Assurance

Don’t let their hyper-local outward appearance fool you: Plymouth Rock has some of the most streamlined tools available for policyholders to manage their policies like a pro.

SimpleScore

3.6 / 5.0

SimpleScore Plymouth Rock Assurance 3.6

Plymouth Rock Assurance makes policy management a breeze with simple online tools designed to simplify claims filing, bill pay, and more. You can also download its app to manage your policy and file claims. If you are looking for a local carrier that understands exactly what you need in New Jersey, Plymouth is an excellent option.

America’s top-rated home insurance

  • Policies starting at just $25/month
  • Sign up in seconds, claims paid in minutes
  • Zero hassle, zero paperwork

Choosing your provider

Before selecting your home insurance provider in New Jersey, you’ll need to conduct thorough research on both national and local carriers. While nationwide carriers might offer a wider range of coverage options, local and regional providers may have policies that are better tailored to your specific location. In some cases, the policy you find from a local or regional provider may even be less expensive than carriers that offer products nationwide.

Local carrier

Pros

  • Can be less expensive than national providers.
  • Offers coverage options that are specific to your area.
  • Build a personal relationship with your insurance agent.

Cons

  • May not always have the coverage options you need for your home.
  • May not have as many available discounts for you to take advantage of.

National carrier

Pros

  • Offers a broader range of coverage options.
  • Provides many discounts for homeowners.
  • Offers online, mobile and 24/7 tools for customers.

Cons

  • Less personal customer service.
  • May pay more for coverage options specific to your region.

New Jersey’s minimum insurance requirements

Any person that owns a home in New Jersey and finances the home through a lender is required to possess a homeowners’ insurance policy. Some lenders may only require the homeowner to seek coverage for the mortgage amount. If you’re seeking replacement cost coverage, your lender might require you to insure your home for a set limit.

The amount of insurance required in New Jersey is based on your property’s value, and homeowners also need to ensure they have enough personal liability coverage to protect them from claims that others may file against them.

Flood coverage

The average annual rainfall in New Jersey is 46 inches — a whopping 1’2” more than the U.S. national average. All that water has to go somewhere, and it might just be your basement. That’s why it’s a great idea for New Jersey residents to consider adding flood insurance to their policies. Most standard policies do not include flood coverage, so it’s important to find a carrier that offers this as an add-on when researching the best home insurance provider for your New Jersey home.

Hurricane coverage

When people think of hurricane season, they typically think of Florida, Louisiana, or Texas as the nation’s hotspots. But New Jersey experiences a pretty active hurricane season as well. In fact, 2020 was a record-setting year for hurricanes in the state, and these numbers are only expected to increase, according to Colorado State University’s Department of Atmospheric Science.

That said, hurricane coverage is a worthwhile investment — especially if your Jersey home happens to be along the coastline. Be sure to find a provider that offers hurricane coverage as an add-on to their available policies.

How much does home insurance cost in New Jersey?

The cost of home insurance in New Jersey is as average as they come. According to the Insurance Information Institute, the average annual premium for homeowners’ insurance in New Jersey is $1,192 — just $19 below the national average. However, homeowners can expect to pay more or less depending on the following:

  • Property Value
  • Replacement Cost
  • Age of Home
  • Roof Condition
  • Claims History
  • Credit History
  • Proximity to Body of Water

Even the type of dog you have, whether or not your home has a swimming pool and your marital status can factor into your final rate. One of the easiest ways to decrease your premium is by increasing your deductible. Even a small increase from $500 to $1,000 can help you save as much as 25% on your insurance premium.

America’s top-rated home insurance

  • Policies starting at just $25/month
  • Sign up in seconds, claims paid in minutes
  • Zero hassle, zero paperwork

New Jersey home insurance FAQs

While there aren’t any set requirements for how much insurance you need in New Jersey, it’s a good idea to have coverage that matches or exceeds the value of your property. Assess your property’s value thoroughly before seeking coverage so you know how much you need for your policy.

If you are a New Jersey resident and you own a home that is financed through a lender, you are required to have homeowners’ insurance. The type and breadth of coverage will likely be specified by your lender in order for you to receive a mortgage. If you paid cash for your home, you are not required to have a home insurance policy. However, it’s a smart way to protect your property in the event they incur unforeseen damage.

Even though New Jersey is the tenth-most expensive state to live in America, homeowners insurance is one expense that’s shockingly average for state residents. With an average annual premium costing just $1,192, New Jersey’s home insurance rates fall $19 below the national average.

For more information regarding coverage and policy options for your home, check out our Guide to Home Insurance.

We welcome your feedback on this article and would love to hear about your experience with the insurers we recommend. Contact us at inquiries@thesimpledollar.com with comments or questions.