Home Home insurance Average home insurance cost Homeowners insurance rates by state Average homeowners insurance cost in New Jersey Average homeowners insurance cost in New Jersey Homeowners insurance in New Jersey costs $1,506 per year or $126 monthly, according to Insure.com’s data analysis. View Carriers Please enter valid zip Compare top carriers in your area Written by Shivani Gite Shivani Gite 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. Reviewed by Nupur Gambhir Nupur Gambhir Nupur Gambhir is a content editor and licensed life, health, and disability insurance expert. She has extensive experience bringing brands to life and has built award-nominated campaigns for travel and tech. Her insurance expertise has been featured in Bloomberg News, Forbes Advisor, CNET, Fortune, Slate, Real Simple, Lifehacker, The Financial Gym, and the end-of-life planning service. Updated on: November 21, 2024 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. Whether you’re a new homeowner or looking to buy insurance for your current home, securing the right homeowners’ insurance is crucial. Rates may vary depending on your insurance company and the coverage limits you choose.According to Insure.com’s data analysis, the average cost of homeowners insurance in New Jersey is $1,506 a year. Continue reading to learn more about homeowners insurance rates in New Jersey by ZIP code and insurer. Key Takeaways Homeowners insurance costs an average of $1,506 a year, based on Insure.com analysis.Of all the ZIP codes in New Jersey, 8803 has the most affordable home insurance rates at around $1,185 annually.In New Jersey, NJM provides the most affordable home insurance at an average annual premium of $943. Average home insurance cost in New Jersey by coverage levelIn New Jersey, the annual homeowners insurance cost is $1,506, on average for the limits of $100,000 in liability, $300,000 in dwelling coverage and a $1000 deductible.Increasing your dwelling coverage from $300,000 to $400,000 will raise your annual homeowners insurance premium to $1,131 in New Jersey, with $100,000 in liability protection and a $1,000 deductible. Below are the average costs for homeowners insurance in New Jersey based on dwelling coverage limits of $300,000, $400,000, and $500,000.Coverage Average annual rate Average monthly rate200000 with 1000 Deductible and 100000 Liability and 2% Deductible$1,151$96200000 with 1000 Deductible and 300000 Liability and 2% Deductible$1,171$98300000 with 1000 Deductible and 100000 Liability and 2% Deductible$1,506$125300000 with 1000 Deductible and 300000 Liability and 2% Deductible$1,526$127400000 with 1000 Deductible and 100000 Liability and 2% Deductible$1,873$156400000 with 1000 Deductible and 300000 Liability and 2% Deductible$1,894$158600000 with 1000 Deductible and 100000 Liability and 2% Deductible$2,614$218600000 with 1000 Deductible and 300000 Liability and 2% Deductible$2,634$2201000000 with 1000 Deductible and 100000 Liability and 2% Deductible$4,087$3411000000 with 1000 Deductible and 300000 Liability and 2% Deductible$4,107$342In New Jersey, homeowners insurance companies set rates by assessing various risk factors. Your location, claims history and coverage limit all affect your premium.If multiple claims have been filed in your neighborhood over the past few years, you’ll likely face higher home insurance rates than areas with fewer claims. According to S&P Global Market Intelligence’s RateWatch application, the average homeowners insurance premium for owner-occupied homes nationwide increased by over 11% in 2023.Best homeowners insurance companies in New JerseyIt’s always wise to shop around and compare prices before you buy homeowners insurance. There are many factors that go into deciding the best homeowners insurance company.We have compared the insurers in New Jersey using their NAIC score and AM Best rating and compiled a list of the best homeowners insurance in New Jersey. Based on the analysis, Chubb received the lowest NAIC score and A++ rating from AM Best. A lower NAIC score indicates fewer complaints relative to the company’s size, suggesting higher customer satisfaction.Company Average annual premiumAM Best Rating NAIC Complaint IndexOverall scoreChubb$1,131A++0.185NJM$943A+0.144.97National General$1,133A+0.924State Farm$1,187A++0.954Franklin Mutual$1,410A0.713.86Farmers$2,059A0.543.39Plymouth Rock Assurance$2,196A-1.382.35Average homeowners insurance cost by company in New JerseyNJM has the cheapest homeowners insurance rates in New Jersey. Its average annual cost for New Jersey homeowners is $943. Chubb and National General also offer affordable insurance.By comparing homeowners insurance rates, you could save hundreds, if not thousands, of dollars annually.The table below shows the average annual and monthly insurance rates for homeowners in New Jersey with $300,000 in dwelling coverage, $100,000 in liability coverage, and a $1,000 deductible.Company Average annual rate Average monthly rateNJM$943$79Chubb$1,131$94National General$1,133$94State Farm$1,187$99Franklin Mutual$1,410$118Heritage Insurance Holdings$1,766$147Farmers$2,059$172Plymouth Rock Assurance$2,196$183USAA$1,270$106New Jersey homeowners insurance rates by ZIP codeInsurance companies in New Jersey assess the risk associated with a specific location. ZIP codes prone to higher crime rates or frequent natural disasters are often classified as high-risk areas, which can lead to increased insurance premiums. The cost of rebuilding or repairing homes in a specific ZIP code can also impact how much you pay for a homeowners insurance policy.Make sure you shop around and compare quotes from various insurance companies to get the best deal on homeowners insurance rates in New Jersey. Don’t forget to ask about any available discounts, such as bundling policies or a smart home discount.Most affordable ZIP codes for home insurance rates in New JerseyHome insurance costs vary across different areas in New Jersey. What you pay for homeowners insurance depends on several factors, including your ZIP code. According to our data, the 8803 ZIP code has the lowest home insurance rates in New Jersey, at $1,185 annually or $99 per month.Here are the homeowners insurance rates for some of the most affordable ZIP codes in New Jersey.ZIP codeAverage annual rateAverage monthly rate8803$1,185$998834$1,194$998504$1,195$1007831$1,209$1017961$1,212$1017842$1,213$1017870$1,215$1018868$1,216$1017926$1,218$1017979$1,219$102Most expensive ZIP codes for home insurance rates in New JerseyYour ZIP code plays a significant role in determining the cost of your homeowners insurance. In New Jersey, some areas face higher premiums due to factors like high crime rates, greater risk of natural disasters and higher living expenses.In New Jersey, 8203 has the highest homeowners insurance rates, at $2,434 per year.Here, we’ve highlighted some of the most expensive ZIP codes in New Jersey for homeowners insurance:ZIP codeAverage annual rateAverage monthly rate8203$2,434$2038406$2,411$2018401$2,381$1988402$2,359$1978006$2,348$1968403$2,309$1928008$2,289$1918752$2,276$1908735$2,255$1888751$2,253$188Home insurance rates vary from one city to another. But with Insure.com, finding the right home insurance policy is easy. Learn more about homeowners insurance costs for different cities below.Home insurance rates in New Jersey by cityBirminghamColumbusHighland ParkJersey CityLakewoodHome insurance rate trend in New JerseyWe analyzed home insurance rate trends in New Jersey and found that homeowners insurance rates experienced an overall increase of 18% or $229, from 2022 to 2023.The data below shows how much homeowners insurance rates have changed since 2019.2019 rates2022 rates2023 rates$1,429$1,277$1,506To choose the right homeowners insurance, it’s important to conduct thorough research and compare rates from various insurers, as each evaluates risk differently. Comparing quotes from at least three companies can help you secure the most affordable coverage in New Jersey.Resources & methodologySourceS&P Global. “US homeowners insurance rates jump by double digits in 2023.” Accessed September 2024.MethodologyInsure.com worked with Quadrant Information Service to get homeowners insurance data. We analyzed 20,739,560 insurance quotes from 82 national and regional insurance companies across 34,588 ZIP codes to determine the average premiums.The insurance rates are based on a sample profile of a homeowner with good credit and the following coverage level:$300,000 dwelling coverage$100,000 liability protection$1000 deductibleWe have taken into account 3 important factors such as average annual cost, NAIC score and AM Best rating, to determine the list of best homeowners insurance companies. The quoted insurance rates are for comparison purposes, and your individual rates may vary. Explore other insurance options in New-Jersey Average renters insurance cost in New Jersey Average car insurance cost in New Jersey Non-owner auto insurance in New Jersey How much is home insurance in other statesAlaska$1,695/YearAlabama$3,131/YearArkansas$3,948/YearArizona$2,468/YearCalifornia$1,386/YearColorado$4,086/YearConnecticut$2,205/YearWashington, D.C.$1,327/YearDelaware$1,366/YearFlorida$4,405/YearGeorgia$2,286/YearHawaii$593/YearIowa$2,642/YearIdaho$1,950/YearIllinois$3,044/YearIndiana$2,969/YearKansas$4,826/YearKentucky$3,314/YearLouisiana$3,576/YearMassachusetts$1,622/YearMaryland$1,707/YearMaine$1,375/YearMichigan$2,396/YearMinnesota$2,399/YearMissouri$3,528/YearMississippi$3,369/YearMontana$3,265/YearNorth Carolina$2,933/YearNorth Dakota$3,134/YearNebraska$4,785/YearNew Hampshire$1,209/YearNew Mexico$2,638/YearNevada$1,444/YearNew York$1,777/YearOhio$2,144/YearOklahoma$5,749/YearOregon$1,741/YearPennsylvania$1,886/YearRhode Island$1,932/YearSouth Carolina$2,668/YearSouth Dakota$3,374/YearTennessee$3,045/YearTexas$3,844/YearUtah$1,792/YearVirginia$2,135/YearVermont$1,247/YearWashington$1,596/YearWisconsin$1,648/YearWest Virginia$1,886/YearWyoming$1,885/YearShow moreShivani GiteContributing 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. In case you missed it What is HO-6 condo insurance and how much does it cost? Average homeowners insurance cost by ZIP code in 2024 What is dwelling coverage and how much do you need? Personal liability insurance: What it is and why you need it Renters insurance quotes: Compare rates Hurricanes and home insurance: How hurricane insurance works How replacement cost coverage works when you file a claim How much do claims increase home insurance rates? Mobile home insurance cost and coverage in 2024 Homeowners insurance basics Home Insurance Advisor Cheapest homeowners insurance in 2024 How much flood insurance do I need? How to bundle home and auto insurance policies to save money The largest home insurance companies by market share Home insurance discounts for cheaper rates How much does dog liability insurance cost and do you need it? 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