How much is homeowners insurance in Lakewood, New Jersey?

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Our data shows that the average cost of homeowners insurance in Lakewood is $1,495 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1,000 deductible). It’s $1,009 less than the national average of $2,504 .

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in Lakewood depend on several factors, including:

Size of your home
Age of your home
Amount of coverage required
Location
Your credit score

To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide for more info on how much homeowners insurance costs per month in Lakewood, home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Lakewood.

Key Takeaways

In Lakewood, homeowners insurance costs $1,495 annually.
New Jersey Manufacturers offers the most affordable homeowners insurance in Lakewood with an average annual premium of $1,004 .
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $356 higher.

How much is homeowners insurance in Lakewood per month?

Residents of Lakewood pay an average of $125 a month for homeowners insurance. It’s same as the state average of $125 and $84 less than the national average for home insurance across the nation.

The cost of your homeowners insurance policy in Lakewood may change based on location, property value, and selected coverage options.

How much is homeowners insurance for a $200,000 house in Lakewood?

The average cost of homeowners insurance in Lakewood, NJ is $1,139 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The cost of your home insurance each year depends on several factors – including the risk of natural disasters in your area. If your city is prone to events like hurricanes, wildfires, or floods, you’ll likely pay more for coverage.

Some places are more prone to natural disasters, like floods, hurricanes, or tornadoes. That makes rebuilding after a major event more expensive, which is why home insurance tends to cost more in those areas. And keep in mind, your standard policy probably doesn’t cover flood or hurricane damage. If you live in a high-risk zone, it’s definitely worth looking into separate flood insurance for extra protection.

How much is homeowners insurance for a $300,000 house in Lakewood?

Lakewood residents pay an average of $1,495 per year to insure a home for coverage limits of $300,000 dwelling, $100,000 liability with a $1,000 deductible. To increase your dwelling coverage from $200,000 to $300,000, you’ll pay an additional $356 per year.

The smartest approach is to carry enough insurance to cover the full cost of rebuilding your home.

How much is homeowners insurance in Lakewood by company?

Among the carriers we analyzed, New Jersey Manufacturers is the most affordable homeowners insurance company in Lakewood. Its average annual rate for homeowners in Lakewood is $1,004 , while National General Insurance ranks second.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Lakewood and compiled a list of the most affordable home insurance companies.

Below are details of Lakewood home insurance companies and their average annual premiums.

Home insurance company	Annual rate
New Jersey Manufacturers	$1,004
National General Insurance	$1,090
State Farm	$1,284
Chubb Ltd	$1,338
Franklin Mutual	$1,456
Heritage Insurance Holdings	$1,459
Farmers	$2,037
Plymouth Rock Assurance	$2,152
USAA*	$1,238

*USAA is only available to military community members and their families.

Combining your home insurance with other policies, like auto insurance, can result in significant savings. Insurers often provide discounts to policyholders who bundle their policies, helping you reduce premiums. Bundling lowers your premiums and simplifies managing your insurance with one company.

Natural disasters in New Jersey that can impact your home insurance

Living in New Jersey means facing the risk of natural disasters that can seriously damage your home and belongings. These events can lead to expensive repairs and major insurance claims. That’s why it’s so important to understand which disasters are most likely in your area before choosing a home insurance policy.

Being aware of your local risks helps you choose the right level of protection, from setting appropriate coverage limits to deciding on deductibles or adding extra coverage. Taking the time to tailor your policy to those risks can help you avoid being underinsured and give you peace of mind if you’re impacted by a natural disaster.

New Jersey is commonly affected by Coastal flooding and Strong wind.

How home insurance protects you against natural disasters

Home insurance protects your property and belongings from the financial impact of natural disasters. Home insurance can help pay for structural damage repairs, replace lost or damaged items, and provide funds for temporary housing if you can’t live in your home. This coverage provides financial relief, making it easier for homeowners to recover quickly from the effects of natural disasters.

While standard policies generally cover damage from windstorms, hail and lightning, additional coverage is required for disasters like floods, earthquakes and wildfires.

These types of damage are usually not covered by homeowners insurance, so homeowners need to buy separate flood or earthquake insurance to ensure complete protection.

TIP

Many homeowners find out too late that their insurance doesn’t cover certain natural disasters. Be proactive – review your policy, ask your insurer about disaster-specific exclusions, and explore additional protection if you’re in a high-risk zone.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Lakewood for $300,000 dwelling coverage, $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.