Find Top New Jersey Homeowners Insurance
Trying to find the cheapest homeowners insurance in New Jersey and the best insurance companies in New Jersey? Please stick with us to learn all about it!
Your search for the best homeowners insurance company and the cheapest insurance products will soon be over, as we aim to help our clients get the homeowners insurance that fits their needs.
Insurance Geek agents work hard to help our customers find the New Jersey insurance quotes that are just right for their situation.
Whether you’re raising a family or setting down some temporary roots, we’re here for you. Let’s settle into getting the best possible premiums in New Jersey, what goes into building a policy, and ways to save.
Insurance Geek will help you understand the ropes of your home insurance policy as succinctly as possible.
New Jersey Home Insurance: The Basics
Situated close to bigger states like Pennsylvania and Maryland, New Jersey’s proximity to the Atlantic Ocean gives it the charm that its larger neighbors may lack.
No matter whether you visit Jersey’s beaches or historical landmarks, anyone can agree you’ll never run out of things to do in Jersey. Whether we’re talking north or south shore, any Jersey shore will do. Sure, there are plenty of other eastern shores that are amazing to visit (take Maryland beaches, for example), but who wouldn’t have a soft spot for Jersey?
New Jersey residents deal with nasty weather as well as a higher crime rate than many other US states. Living in a coastal state can come with a higher premium, especially when hurricanes and bad weather are a risk.
Bad weather always brings obstacles to homeowners – especially in a state like New Jersey, where major hurricanes and bad weather are a threat.
Peril
In your home insurance policy, a PERIL is a risk that can cause damage to your house.
Perils faced by New Jersey residents can include anything, from:
- Tornadoes,
- hail,
- snowstorms,
- wind,
- ice,
- and the catastrophic damage that comes with hurricanes.
Wind damage, water damage, and all the above-mentioned perils can all affect the Garden State residents.
Know that you are able to and can file a claim and thus start a claims process for the covered perils in your home insurance policy. To understand what you are covered against, make sure to read your policy’s declarations page.
Deductible
Homeowners insurance companies require their clients to cover the deductible. That is, you as an insurance user must pay an agreed-upon amount of money out of your pocket before they can pay you.
To understand how this works, insurance companies have this simple formula: if your deductible is higher, the premium you get will be significantly lower and vice versa. It is entirely upon you to choose and select what suits you best – paying later when needed or paying more right away!
How are Premiums Determined in New Jersey?
Your premium can be affected by so many things, including the potential for bad weather damage, crime rate, the age of the home and geography, and the materials your home is made from. Perhaps one of the most important factors you’ll deal with is the proximity of your home to a fire station and fireplugs. Fire risk is a major part of assessing your premium.
New Jersey homeowners insurance coverage is normally lower than the US average rate, though what you’ll pay depends heavily on the factors described below.
The replacement cost value;
What the replacement cost basically boils down to is the amount of money necessary to repair or rebuild your home to its present state, that is, to restore it to its pre-damage condition.
Its building costs and age will affect this factor. The important thing to know is that the actual value of your home is different from what is known as the replacement cost.
Read more about the actual value vs. replacement cost in our article.
The credit rating;
The insurance company you are interested in will definitely inspect your financial history and look at your credit score. If you are unsure about the reasons why an insurance company might be interested in your credit rating, we are here to answer the questions.
They want to assess and determine your responsibility and punctuality as a potential client and see whether you will meet the price of the insurance premium on time, month after month.
Insurance company;
Because you are shopping for insurance in New Jersey, you know the multitude of insurance coverage options. You also know that not all of the Jersey companies offer the same home insurance rates.
Insurance Geek will be able to find you the most affordable home insurance in New Jersey, as well as the cheapest rates by comparing quotes from multiple companies.
Our homeowners insurance policies are formed through Nationwide, Progressive, and Safeco.
Previous claims;
Your Jersey insurance company will take a look to see whether any previous claims have been filed for your property.
Previous claims are registered as potential risk factors, and they might result in you paying more for your insurance premium. Claims-free properties will get a lower rate.
Discounts;
Obtaining multiple insurance policies within the same home insurance company (for example, home and auto insurance) can help you score some great discounts.
Other cost-effective ways to save up money on your home insurance is by having anti-theft and fire alarms, as well as other security precautions. In addition to that, you can also pay upfront for your insurance!
What is the Best Option for Home Insurance in New Jersey?
Homeowners insurance companies will offer you different types of homeowners insurance policies.
To begin with, Insurance Geek will introduce you to the basic kinds of policies: a named and an all peril homeowners insurance policy.
NAMED Policy
The named policy will include a named risk in it; it means that it will be stated in it. If there is a peril missing from your home insurance policy, it means that you are not protected against it.
Our experience dictates that our clients usually buy NAMED policies in order to close up the missing gaps in their existing policy.
If your case is similar to this, make sure to talk to our agents and let them know so that they can help you in the best way possible.
ALL PERIL Policy
ALL PERIL protection is the part of a policy that will ensure bad weather or internal issues in your home (such as sewer, storm drain leakage, etc.) are covered.
All Peril coverage assists in protecting against problems like these and can help repair your home in case of major damage. The recommended home insurance in New Jersey should include the all peril policy precisely because the state itself is so prone to devastating weather.
Get Home Insurance Quotes Today
Homeowners insurance prices vary from insurance company to insurance company. The average cost of homeowners insurance can vary, as well, depending on the factors that certain companies take into accounts.
This is why we made the decision to ease the entire process and make it trouble-free and accessible to our New Jersey customers. The best homeowners insurance in New Jersey has never been more accessible than now.
Our quote generator tool is your shortcut to the cheapest home insurance in New Jersey.
What you 0need to do in order to compare quotes is simple: fill in some basic information about yourself (like your ZIP code and full address), and we will swiftly contact our insurance carriers to assess the price.
We vouch not to bother you with useless information, just the info related to your insurance that private insurers will need. We offer our policies through Nationwide, Safeco, and Progressive, which have the best competitive insurance rates across the country.
Our quote tool on this page will connect you with agents that can help you get the best homeowners insurance NJ for your needs.
Let’s talk about how we can help you!
Discount Types
Bundling is the name of the game. Getting home, auto, life, and even other types of insurance at the same time can cut down on cost while getting you a great deal on other types of insurances. Carriers love to bundle, and because we know the ins and outs of the process, we can match you with various types of insurance that make sense for your needs.
Top Cities & Metro Suburbs in New Jersey for Homeowners
Our clients buy homeowners insurance all over the state of New Jersey, no matter if they are located in suburban areas where homeowners insurance is significantly cheaper or if they reside in bigger cities.
The largest cities in New Jersey are:
- Newark
- Jersey (the City)
- Paterson
- Elizabeth
- Lakewood
- Edison
- Woodbridge
- Toms River
- Hamilton Township
- Trenton
The top suburbs in New Jersey:
- North Caldwell
- Woodcliff Lake
- Haddonfield
- Oradell
- Ridgewood
- Mountain Lakes
- Upper Montclair
- New Providence
- Summit
- Springdale
- Demarest
Regardless of the fact where you live, all Jersey homes require protection.
Our insurance policies for homeowners are provided through Safeco and Nationwide. Our goal at Insurance Geek is to provide you with competitive rates while furnishing you with the homeowners insurance you truly need to make your personal situation work. These companies are approved by the New Jersey Department of Insurance.
Who Should Get New Jersey Homeowners Insurance?
This is one of the most frequently asked questions that an insurance company can receive. The answer to it should be universal: Getting homeowners insurance should be the utmost priority of all New Jersey citizens!
Whether you are a new homeowner or an existing one, you should get a policy.
Both old and new homes require all the insurance protection that they can get. Simply put, buying homeowners insurance equals buying peace of mind for both you and your family.
If you wish to obtain a mortgage, you should be aware of the fact that your mortgage lender will require proof that you have valid home insurance.
What Does Home Insurance Coverage Include?
Numerous coverage options for insurance premiums are included in your policy. Your insurance policy will likely include the following coverage:
- Coverage A – Dwelling Amount
Dwelling amount, also known as dwelling coverage, covers the physical structure of the home.
Dwelling coverage is founded on the replacement value of your home and accounts for any expenses that you might face when a peril occurs.
If you believe that the dwelling coverage amount of your policy is not enough and the cost of possible reparations exceeds it, additional coverage is available in case that the amount surpasses the dwelling coverage limit.
- Coverage B – Separate Structures
This part of your coverage can include mailboxes, attached garages, fences, sheds, etc. It covers all the other structures that are not physically connected to the structure of your house.
- Coverage C – Personal Property
Coverage C is responsible for protecting your personal belongings.
What is categorized as your individual property are the following items: clothes, furniture, appliances – basically, your belongings.
Should your personal property coverage limits exceed the dedicated amount, and you believe it will not be enough, you can always get additional coverage.
Nationwide recommends Valuables Plus extra coverage in that case while Safeco offers the Valuable Articles Coverage.
- Coverage D – Loss of Use
Loss of use coverage accounts for all the costs incurred if you’re unable to use your home for a period of time (rental, groceries, transportation, etc.).
What you need in order to corroborate to the insurance company that you are truly facing additional expenses due to loss of use is to make sure to save all of the bills and receipts so that you can utilize them as proof.
- Coverage E – Personal Liability
Personal liability coverage kicks in if you’re found liable for damages or a suit is brought against you due to a covered occurrence.
It also covers any legal expenses that you might face if you are found legally responsible for an incident.
Coverage F – Medical Payments
MedPay can cover medical expenses. This coverage translates as payment of medical bills for anyone injured on your property.
Unlike with personal liability coverage, you needn’t be found legally bound to use this portion of your insurance.
What Isn’t Included in Your Home Policy?
Auto Insurance (Car Insurance)
Auto insurance (commonly referred to as car insurance as well) is an absolute necessity. When it comes to your own safety and the safety of your vehicle, it simply cannot be disputed whether you need it or not.
Auto insurance can also be helpful for the people that you are transporting as well. All vehicle owners should consider the assortment that Nationwide, Safeco, and Progressive offer, seeing as they have great auto policies.
Flood Insurance
Flood insurance can be acquired through National Flood Insurance Program backed by the federal government, i.e., Federal Emergency Management Agency, and cannot be bought as part of regular home insurance.
This does not necessarily mean that you are left without protection when it comes to water-related damages that can occur.
While we do recommend that you obtain separate flood insurance and flood coverage because flood is an extreme risk, we are happy to share our additional coverage options against water-caused damages.
According to the Insurance Information Institute, water backup accounts for about 22% of all insurance claims, so it is really important to get this type of coverage.
Nationwide, Progressive and Safeco offer endorsements that cover sewer and drain water backup as well as sump pump failure at affordable prices.
Life Insurance
With home and auto insurance being some of the topmost priorities, life insurance cannot be excluded from the narrative.
Insurance Geek partner companies can offer you a wide assortment of life insurance products. If you are interested in the nitty-gritty of life insurance, you can learn more about the policies that are available for purchasing and which policy to obtain in our article on term vs. whole life insurance.
We can also generate life insurance quotes for you!
Other
Home, auto, life, and flood insurance are not the only products available on the market. There are other products that can score you more affordable insurance rates, such as windstorm insurance that can protect you against wind damage that can occur.
Identity theft protection is also a viable option seeing as cybercrime is on an exponential rise, while identity fraud is a common problem many clients experience.
Home Insurance in New Jersey: FAQ
Q: How much is homeowners insurance in New Jersey?
A: NJ homeowners are fortunate to pay below the national average for their homeowners insurance. The national average cost is around $1,215. The average cost of homeowners insurance in New Jersey is around $710. Of course, what each individual will pay for their homeowners insurance is highly dependent on their own situation, like the state and condition of their home, the credit score that they have, and discounts that they obtain.
Q: What are the best home insurance companies in New Jersey?
A: Homeowners insurance companies in New Jersey are numerous, but the popular home insurance companies that Insurance Geek cooperates with are Nationwide, Safeco and Progressive. Unlike other insurers, these carriers provide steady and stable products in addition to having the best insurance rates on the market. Their J. D. Power score testifies that their reputation is impeccable.
Final Words
Insurance Geek is there to connect you to the top insurance companies in New Jersey.
We do not stop at the best rates; we have developed various tools that you are free and welcome to use while searching for insurance in New Jersey!
Affordable average rates and outstanding insurance products are available for all New Jersey homeowners regarding homeowners insurance.
All you basically need to do is make sure that you talk to your Insurance Geek agent and enter your information – like your ZIP code and your address – and we’ll do the rest for you!