May 7, 2021

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The best homeowners insurance in New Jersey in 2021

7 min read

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From coastal storms to a few high-crime areas, New Jersey homeowners have plenty to worry about when it comes to protecting their homes from the unexpected. Homeowners insurance can bring peace of mind, covering the costs to rebuild or replace the structure of your home and your belongings, among other benefits, in the case of disaster. 

Since choosing the best homeowners insurance providers is so crucial, it’s important to make an informed decision when choosing a company. We researched and reviewed dozens of companies (see methodology below) and rounded up the top choices in the Garden State.

To provide a general idea of insurance costs from each provider, we include sample premiums on a 1,700-square-foot single-family home in Marlton, N.J., worth $250,000–$300,000. To get customized prices from providers in your area, request a quote online or call 855-948-5219

Top homeowners insurance providers in New Jersey

1. Best overall: Allstate

2. Most user friendly: Lemonade

3. Best deductibles: Travelers

4. Best discounts and savings: Liberty Mutual

5. Best for bundling: Progressive

1. Best overall: Allstate

To be the best company, a homeowners insurance provider must display quality in all of our key metrics during our in-depth review process. Allstate did just that with its outstanding performance in customer service, reputation, standard coverage, discount opportunities and additional coverage options. The company also offers a worthwhile claim RateGuard that can protect your policy premium from increasing after filing a claim.

Pros

Cons

Unique discount for backup generators

Prices can be high for basic policies

Basic quote includes water backup

Claim RateGuard can keep premiums from increasing after claims

Annual premium: $1,477 with a $3,000 deductible

Discounts: Auto-pay, welcome discount for new customers, loyalty, bundling with other policies, on-time payment, claim-free history, protective devices like alarms, backup generator

Additional coverage options: Identity theft, water backup, roof surfaces extended coverage endorsement, building codes, jewelry, watches, furs

2. Most user friendly: Lemonade

Accessibility and technological features are becoming increasingly important for homeowners. Lemonade allows policyholders to easily manage policies, submit claims and receive payments. Its advanced artificial intelligence software on the mobile app and website helps guide policyholders through signing up and filing a claim. The company also donates unused premiums to charities every year.

Get an instant quote through Lemonade’s sign-up tool to see what your policy might look like.

Pros

Cons

User-friendly mobile app for sign-up, policy management and claim filing

Only been in business for 5 years

Fast quote tool that takes less than two minutes

No home and auto insurance bundle options

Company regularly donates to charities

Doesn’t cover damage from high-risk dog breeds

Annual premium: $1,215 with a $1,000 deductible

Discounts: Proximity to fire station and hydrants, building frame type, gated community, home safety features, fire alarms

Additional coverage options: Specific coverage for high-value items including fine art, bikes, cameras and musical instruments; water backup, unmarried significant other coverage, swimming pool liability

3. Best deductibles: Travelers

We highlight the deductible options from Travelers because it gives homeowners the opportunity to customize how much they want to spend on premiums. If you select a $10,000 deductible from the company’s list of nine options, your policy premium will be considerably lower than it would be with a smaller deductible. Additionally, it offers a benefit that decreases the deductible by $100 without raising the annual premium each year that you keep the policy.

Pros

Cons

Decreasing deductible add-on benefit

Some customers have complained about the mobile app

24/7 claims support service

Fewer discounts may be available than with other companies

Company has been in business 168 years

Annual premium: $1,158 with a $1,000 deductible

Discounts: Claims history, renewing policy early, protective devices like alarms, bundling with auto insurance

Additional coverage options: Roofing and siding matching, equipment breakdown, replacement cost, identity theft

4. Best discounts and savings: Liberty Mutual

Look to Liberty Mutual for the most extensive list of discount opportunities. Homeowners can qualify for worthwhile savings on premiums for things such as claims history, being a new home-buyer, full-time employment and education level. Aside from the discounts, this policy was the cheapest option compared with the rates we received from other New Jersey insurers.

Pros

Cons

Features unique home-buyer discount

Fewer add-ons than some competitors

Mold coverage included up to $10,000

Quote form can be complicated

24/7 customer support

Annual premium: $1,068 with a $1,000 deductible

Discounts: Fire and theft protection, water safety systems, fire sprinklers, employment status, early shopping for a new policy, bundling, basic home safety features, new home-buyer, claim history, education level, discount for insuring the dwelling coverage limit to the home’s value

Additional coverage options: Water backup and sump pump, earthquake coverage, identity theft protection, computer and smartphone coverage, blanket jewelry protection

5. Best for bundling: Progressive

Although Progressive doesn’t write its own homeowners insurance policies, it features an online tool to find the best partner company for potential customers. The sample quote we received was taken from Homesite, one of Progressive’s underwriting providers. The underwriting partnership can confuse the customer service and claims processes. Still, it may be worth it for those who already have a Progressive car insurance policy to access some of the best home-and-auto-bundle discounts and benefits.

Pros

Cons

Basic quote includes replacement cost for dwelling and personal property

Sells underwritten policies

Well-known and experienced brand

Quote tool requires Social Security number

HomeQuote Tool compares rates from multiple underwritten policies

Annual premium: $1,316 with a $1,000 deductible

Discounts: Auto-pay, pay-in-full discount, paperless billing, home and auto bundling, construction age

Additional coverage options: Water backup and personal injury liability

The bottom line

Allstate and Lemonade are our top two picks for home insurance policies in New Jersey. Allstate is the best overall for its comprehensive policies, customer service and add-on options, but premiums can come at higher rates. Lemonade stands out for its technological features and accessibility, from general policy management to claim-filing.

We recommend you get quotes from a few providers, making sure their prices and amount of coverage are the best for you. To get quotes from verified providers near you, use this tool or call 855-948-5219.

 

Things to consider about New Jersey homeowners insurance

Here are a few important factors to consider about each homeowners insurance company when deciding which policy to buy for your New Jersey property:

1. Pricing and costs

Though we include sample insurance premium details, finding accurate pricing based on your situation requires getting your own quote. It’s also helpful to understand what goes into the exact cost of homeowners insurance. Factors like claims and credit history, property size, home value, construction age, neighborhood, frame-type, roof materials and even the property’s mortgage can all affect your homeowners insurance quote.

If you’re looking for ways to save on your premium, try to purchase a bundled policy from your auto insurance provider. You could also choose a provider with extensive discount opportunities like Liberty Mutual.

2. Additional coverage

Depending on your property, additional coverage may be an important selective factor in your decision. For example, if you have a swimming pool, you may want to take advantage of Lemonade’s swimming pool liability coverage endorsement. If your building has a larger roof that may need extra repairs after a storm, you might consider Allstate’s roof surfaces extended coverage. Always consider any extra elements of your property to determine what homeowners insurance coverage you’ll need.

3. Filing a claim

The claim-filing process can be another priority for many homeowners. Some companies may be slow to answer and process claims, delaying payouts and reimbursements after a damaging loss. This unreliability can be frustrating, so finding a company that has a smooth and easy system is important.

For example, Lemonade’s AI software on its mobile app and website makes the claim-filing process easier. It walks policyholders through the claims form and even makes instant decisions on owed money. Visit the website to learn more. Travelers also takes pride in its 24/7 claims center availability that includes holidays.

Frequently asked questions

What does homeowners insurance cover?

Homeowners insurance covers damages and losses due to unexpected events or perils such as a theft or a natural disaster. Standard policies are typically broken up into coverage categories including dwelling, other structures, additional living expenses, personal property, personal liability and medical payments to others. Each coverage type comes with an associated limit that will be paid out by the provider through the policy.

What are some other insurers in New Jersey?

These are only five of many homeowners insurance companies that sell policies to New Jersey residents. Other providers available in the state include USAA, Geico, State Farm, Chubb and Nationwide.

How do you find the cheapest home insurance company in New Jersey?

Since pricing is different for every homeowner, getting a quote is an important part of determining the cheapest home insurance policy for you. 

Our methodology

The Home Media team surveyed dozens of home insurance providers and created a scoring system to judge each company’s quality and service. We reached out for sample quotes, both over the phone and on the internet, to simulate a real customer experience. Here are the factors accounted for in our provider reviews:

  • Coverage (20%)

  • Customer service (15%)

  • Technology (15%)

  • Reputation (15%)

  • Additional benefits (15%)

  • Cost (20%)

Companies with the best customer service exhibit 24/7 availability, educational resources on their website, useful digital tools and a seamless claims-filing process. To score reputation, we compared data from each company’s Better Business Bureau page, customer reviews, registered complaints and years of experience.

Additionally, we dug into specific quotes and policy details to determine the value that each company offers in coverage, cost and additional benefits. Providers that offer extensive discount options, endorsements, customizable coverage options and unique features score significantly higher than those that don’t, putting them toward the top of our recommendations to readers.

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