Best condo insurance companies in New Jersey

In New Jersey, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction ratings of major insurers in New Jersey. Below are the best condo insurance companies in New Jersey based on Insurance.com’s analysis.

CompanyJ.D. Power ScoreAM Best RatingAverage rating (out of 5)
USAA884A++
4.0
State Farm829A++
3.8
Chubb Ltd809A++
3.5
Allstate815A+
3.0
Farmers792A
2.9
American Family842A
2.6

Average cost of condo insurance in New Jersey

The average cost of condo insurance in New Jersey is $487 a year or $41 a month with $1,000 as deductible, $60,000 in personal property coverage, and liability coverage of $300,000. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors.

To find the most affordable policy for your situation, compare quotes from multiple providers based on the coverage you need.

Average Annual PremiumAverage Monthly Premium
$487$41

Condo insurance calculator

Average condo insurance rates in New Jersey
$60,000
$40,000 $60,000 $80,000 $100,000
$1000
$1,000
$100,000
$100,000 $300,000
View most and least expensive ZIP codes

Most & least expensive ZIP codes for condo insurance in New Jersey

Most expensive

ZIP CodeCityHighest Rate
08203Brigantine$797
08402Margate City$791
08406Ventnor City$779
08401Atlantic City$770

Least expensive

ZIP CodeCityLowest Rate
07823Belvidere$492
07946Millington$498
07866Rockaway$498
07945Mendham$498

Condo insurance rates by company in New Jersey

Rates for condo insurance by company in New Jersey vary. It’s important to shop around and compare quotes to find the best price. 

In the table given below, you’ll see condo insurance rates for major companies in New Jersey. The cheapest company for condo insurance in New Jersey is Franklin Mutual. Palisades, and Farmers, are the second and third cheapest options.

CompanyAverage Annual Rate
Franklin Mutual$244
Palisades$341
Farmers$360
New Jersey Manufacturers$382
Allstate$450
State Farm$468
Chubb Ltd$468
USAA$681
American Family$790

Compare condo insurance rates by city in New Jersey

Condo insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on condo insurance for your specific city in New Jersey.

CityAnnual insurance premium
Bayonne
$517
Camden
$517
Clifton
$474
East Orange
$535
Elizabeth
$477
Jersey City
$532
Newark
$529
Passaic
$478
Paterson
$521
Trenton
$495

Insurance.com compared condo insurance rates provided by Quadrant Data Solutions in 2022 for $60,000 of personal property coverage with a $1,000 deductible and $300,000 of liability coverage for all available ZIP codes and with a good credit score. The content was updated in 2023.

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