Best Homeowners Insurance In New Jersey For 2024

With a total of 11 home insurance discounts, Allstate surpasses the industry norm of seven. As an expert in the field, I find a few of these discounts to be uniquely beneficial.

Available discounts at Allstate are:

Claims forgiveness: Additional coverage to ensure your premium doesn’t rise after filing a claim.
Claims-free: Receive 5% back on renewal if no claims are filed each year.
Deductible reward: $100 reduction on your deductible when you enroll.
Bundle: Combine home and auto insurance to save up to 25%.
Automatic payment: Save 5% by using automatic payments.
Loyalty: Get up to 10% off for staying with Allstate.
Home buyer: Discount available for new homeowners.
New home: Discount for insuring a newly built house.
Responsible payment: Extra discount for consistently paying on time.
Early payment: Save up to 10% when you buy a new policy seven days before your old one ends.
Protective device: Discount for installing theft or fire protection systems.

Offering nearly twice the industry average of five, Allstate provides nine optional homeowners insurance coverage types. Along with common options such as identity theft and scheduled personal property coverage, Allstate includes a special yard and garden insurance option that increases the coverage for landscaping and riding lawnmowers.

Farmers is top-rated not just for the perks it provides, but also for its excellent “online experience,” as it clearly explains these perks and discounts to existing and future customers. These home insurance perks include:

• Declining Deductible: Get $50 toward your deductible for every year you keep your home insurance policy active.
• Claim-Free Discount: Enjoy a discount on your home insurance if you’ve been claim-free for three consecutive years.
• Guaranteed Replacement Cost: Farmers will pay to fully rebuild your home, no matter the cost.
• Claim Forgiveness: If you’ve been claim-free for five years with Farmers, your premiums won’t increase after a claim.
• Multi-Policy Savings: Save up to 34% on home insurance when you bundle with other Farmers policies.

The 9.3/10 overall score for Farmers reflects its below-average J.D. Power customer satisfaction ratings for service to policyholders.

Despite earning an A+ (Superior) financial strength rating from AM Best, Nationwide has a low customer satisfaction rating, reflected in numerous negative online reviews. However, they maintain a strong presence in New Jersey with several local agent offices.

With a standard home insurance policy from Nationwide, you get coverage options that many competitors lack, including protection against credit card fraud and coverage for rebuilding to meet updated building codes.

Another way to tailor your policy is by choosing unique options, such as Better Roof Replacement, which covers the use of higher-quality roofing materials if a qualified event requires replacement.

With the Brand New Belongings feature, you receive replacement cost coverage for your possessions. After being compensated for their depreciated value if damaged or destroyed, you can purchase replacements and get reimbursed for the price difference by submitting receipts to Nationwide.

State Farm stood out as our top pick thanks to its solid agent presence in New Jersey, excellent customer satisfaction ratings, and competitive premiums. The high marks it received from J.D. Power for policyholder service are vital, especially given its widespread agent availability and numerous claims adjusters and offices in New Jersey to assist after major storms like tornadoes.

State Farm offers a basic homeowners policy, and you can enhance it with extra coverage to meet your specific needs. Options include protection for rebuilding to meet new ordinances, identity theft coverage, and insurance for valuables like jewelry or collectibles. State Farm has the top financial strength rating from AM Best, an A++.

You can begin the quote process with State Farm online, but you’ll need to connect with a local agent to finalize and purchase your policy. Policyholders can manage their accounts via the website or app, file claims, and opt for paperless billing. The website also provides a useful library of resources to educate users about insurance.

Offering the lowest home insurance rates in New Jersey, Chubb’s average policy costs $1,362 per year, making it $1,170 cheaper than the state’s average.

Offering the best rates for home insurance in New Jersey, Chubb doesn’t skimp on coverage. Known for insuring high-value homes, Chubb also stands out for its financial stability and outstanding customer service. Along with competitive premiums, you’ll receive extended replacement cost coverage, which repairs or replaces your belongings even if their value has depreciated.