You can save hundreds — if not thousands — of dollars each year if you shop around for homeowners insurance. Saving money on homeowners insurance in New Jersey can be challenging if you don’t know the facts.

New Jersey Manufacturers Insurance has the lowest average homeowners insurance rates in New Jersey, with an average premium of $747 a year or $62 a month.

The good news is that Insure.com has simplified matters by carefully researching carriers and prices to find cheap homeowners insurance in New Jersey. We’ve ranked the most affordable homeowners insurance providers in New Jersey to help you in this process. Read further for our recommendations and for additional strategies designed to help you pay less for premiums.

Key Takeaways

  • For homeowners insurance with $300,000 dwelling coverage, $300,000 liability protection and $1,000 deductible, New Jersey Manufacturers Insurance offers the cheapest homeowners insurance in New Jersey at $747 per year.
  • In New Jersey the homeowners insurance cost is $561 less than the national average.
  • Amongst all the zip codes in New Jersey, the cheapest homeowners insurance is available at the 8865 zip code, with average annual premium of $1,421 per year.

Cheap homeowners insurance companies in New Jersey

New Jersey Manufacturers Insurance, Allstate and Chubb have the cheapest homeowners insurance in New Jersey, on average.

There’s a large rate difference between home insurance companies. New Jersey homeowners could save more by shopping around and comparing insurance quotes.

Here are average annual and monthly New Jersey home insurance rates for a policy with $300,000 dwelling coverage and $300,000 liability protection with a $1,000 deductible.

CompanyAverage annual premiumAverage monthly premium
New Jersey Manufacturers Insurance$747$62
Allstate$1,156$96
Chubb$1,357$113
High Point Preferred Insurance$1,432$119
Fidelity & Guar Insurance$1,495$125
State Farm$1,598$133
USAA$1,701$142
Liberty Mutual$2,209$184
Foremost$2,248$187
LM Insurance$2,324$194
Homesite$2,353$196

Compare cheap homeowners insurance in New Jersey by ratings

Wondering how to choose the best insurance company among the options available? We have analyzed the cheapest homeowners insurance companies in New Jersey based on J.D. Power score and AM best rating. According to Insure.com’s survey, USAA received the highest J.D. power score of 882 and A++ rating from AM best.

CompanyJ.D. Power scoreAM Best rating
USAA882A++
State Farm835A++
Allstate829A+
Liberty Mutual806A
Chubb801A++

How much is home insurance in New Jersey

The average cost of homeowners insurance in New Jersey is $1,744 annually for $300,000 dwelling and $300,000 liability coverage with a $1,000 deductible.

One primary driver of home insurance cost is claims history. Here are the top average home insurance percentage premium increases based on claims:

  • Filing a second fire claim — 60%
  • Filing a second theft claim — 55%
  • Filing a second liability claim — 52%
  • Filing a second water damage claim — 50%
  • Filing a second medical claim — 34%

Average annual premiumAverage monthly premium
$1,744$145

Cheapest homeowners insurance in New Jersey by ZIP code

Location is a crucial part of your home insurance rate. Areas with more claims pay higher rates than ones that don’t have many. Here are the average home insurance rates by ZIP codes in New Jersey:

ZIP codeAverage annual premiumAverage monthly premium
8865$1,421$118
8829$1,438$120
7842$1,440$120
8886$1,442$120
8848$1,445$120
7869$1,446$120
7945$1,448$121
7823$1,449$121
8807$1,450$121
7970$1,454$121
7920$1,457$121
8801$1,458$122
7846$1,459$122
7828$1,460$122
8804$1,462$122

Find home insurance rates in cities of New Jersey

Jersey City$1,898 /Year
Lakewood$1,856 /Year
Birmingham$1,777 /Year
Columbus$1,757 /Year
Highland Park$1,622 /Year
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