- Best home insurance companies in New Jersey: State Farm
- Cheapest home insurance companies in New Jersey: New Jersey Manufacturers
- Average home insurance cost in New Jersey
- New Jersey home insurance rates by ZIP code
- Methodology
- Frequently asked questions about New Jersey home insurance
- Compare New Jersey homeowners insurance rates with other states
Best home insurance companies in New Jersey: State Farm
The best home insurance company in New Jersey for 2024 is State Farm. Chubb, National General Insurance, and Farmers are among the top home insurance companies in New Jersey based on price, NAIC complaints, and AM Best financial ratings.
The total Insurance.com score is calculated out of five using these factors.
| Company | AM Best | NAIC complaint ratio | Insurance.com score | Average annual rate |
|---|---|---|---|---|
| State Farm | A++ | 0.83 | 4.21 | $1,214 |
| Chubb | A++ | 0.18 | 4.18 | $1,189 |
| National General Insurance | A+ | 0.92 | 2.97 | $1,190 |
| Farmers | A | 0.67 | 2.64 | $2,089 |
Cheapest home insurance companies in New Jersey: New Jersey Manufacturers
Below are New Jersey home insurance rates by company for five different levels of dwelling coverage, each with $300,000 in liability and a $1,000 deductible. Based on our analysis, you’ll see New Jersey Manufacturers has the most affordable rates for all five dwelling coverages.
| Company | $200,000 | $300,000 | $400,000 | $600,000 | $1,000,000 |
|---|---|---|---|---|---|
| New Jersey Manufacturers | $786 | $966 | $1,155 | $1,534 | $2,288 |
| Chubb | $849 | $1,189 | $1,530 | $2,235 | $3,725 |
| National General Insurance | $1,032 | $1,190 | $1,411 | $1,852 | $2,926 |
| State Farm | $966 | $1,214 | $1,476 | $2,001 | $2,953 |
| USAA* | $988 | $1,270 | $1,524 | $1,996 | $2,870 |
| Franklin Mutual | $1,155 | $1,410 | $1,645 | $2,084 | $2,898 |
| Heritage Insurance | $1,393 | $1,792 | $2,115 | $2,738 | $3,989 |
| Farmers | $1,417 | $2,089 | $2,932 | $3,687 | $5,322 |
| Plymouth Rock Assurance | $1,656 | $2,199 | $2,759 | $4,428 | $7,669 |
*USAA only provides coverage to military members, veterans, and their families.
Average home insurance cost in New Jersey
The average cost of homeowners insurance in New Jersey is $1,526 a year or $127 a month. This is based on coverage of:
- $300,000 dwelling
- $300,000 liability
- $1,000 deductible
- 2% hurricane deductible
However, the average annual premium varies by the insurance company, your ZIP code, coverage type, and your home's age, among other factors. To get the best deal, it’s a good idea to compare quotes from different New Jersey homeowners insurance companies.
New Jersey home insurance rates by ZIP code
Home insurance rates can vary widely depending on where the home is located. We compared home insurance rates by ZIP code in New Jersey to see which areas are the most and least expensive.
Enter your ZIP code and desired coverage level in the search box to see the average home insurance rate for that area. You will also see the highest and lowest premiums from major home insurers. This will give you an idea of how much you can save by comparing home insurance rates. The difference between the highest rate and the lowest rate is how much you could save by shopping around.
Home insurance calculator
Average home insurance rates in TexasMost & least expensive ZIP codes for homeowners insurance in Texas
| ZIP code | City | Highest rate |
|---|---|---|
| 77550 | Galveston | $10,164 |
| 77586 | El Lago | $9,906 |
| 77551 | Galveston | $9,536 |
| 77554 | Galveston | $9,358 |
| ZIP code | City | Lowest rate |
|---|---|---|
| 78559 | Iglesia Antigua | $1,956 |
| 78593 | Santa Rosa | $1,999 |
| 79915 | El Paso | $2,008 |
| 79905 | El Paso | $2,009 |
The New Jersey Division of Insurance says...
Many policies also have hurricane loss deductibles that apply only to losses that occur during a hurricane, which is an event that is designated as a hurricane by the National Weather Service, and only if sustained wind speeds of 74 mph have been measured anywhere in New Jersey.
- The New Jersey Division of InsuranceThe most expensive ZIP codes in New Jersey for home insurance
New Jersey homeowners insurance rates are the most expensive for ZIP code 08203, with an average annual cost of $2,335.
The most expensive ZIP codes in New Jersey are:
| ZIP code | Average annual rate |
|---|---|
| 08203 | $2,335 |
| 08406 | $2,333 |
| 08402 | $2,296 |
| 08401 | $2,287 |
| 08403 | $2,241 |
| 08008 | $2,221 |
The least expensive ZIP codes in New Jersey for home insurance
The cheapest ZIP codes for home insurance in New Jersey are:
| ZIP code | Average annual rate |
|---|---|
| 08504 | $1,181 |
| 08803 | $1,190 |
| 08834 | $1,197 |
| 07842 | $1,207 |
| 07961 | $1,211 |
| 07831 | $1,212 |
Methodology
Insurance.com commissioned 2023 home insurance rates from Quadrant Data Services fielded across all New Jersey ZIP codes. Rates were fielded at multiple coverage levels with a deductible of $1,000.
Frequently asked questions about New Jersey home insurance
Do I need flood insurance in New Jersey?
Flood insurance isn't part of a regular home insurance policy. Instead, homeowners need to buy a separate policy through the National Flood Insurance Program (NFIP) or a home insurer working with the NFIP. If you live in a high-risk area, your mortgage company may require you to buy flood insurance.
What can I do if I can't get homeowners insurance in New Jersey?
The New Jersey Underwriting Association offers the FAIR Plan for property owners who can't get home insurance elsewhere.
A FAIR Plan offers coverage similar to any home insurance policy. It protects against fire, lightning, explosion, vandalism, snow damage, and other perils. It also offers extended coverage for windstorms and hail coverage.
However, FAIR Plan coverage is typically more restrictive – and more expensive – than standard homeowners insurance.
Where do I get claims processing information or file a complaint?
The New Jersey Department of Banking and Insurance is the place to go if you need to file a complaint about a home insurance company.
You can also file an online complaint using a consumer complaint form. When you file a complaint, you'll need your insurance company's name, the policy number and claim number, if appropriate, and related documents, such as letters and photos and information about the issue.
Compare New Jersey homeowners insurance rates with other states
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