How much is homeowners insurance in Lakewood,NJ

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As per Insure.com’s rate data analysis, 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 $1000 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 you need
Location
Your credit score

New Jersey Manufacturers is the cheapest homeowners insurance company in Lakewood with an average annual premium of $1,495 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Lakewood. Keep reading to learn about the monthly cost of homeowners insurance in Lakewood, the cost for different dwelling coverage levels, and discover which companies provide the most affordable 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

According to Insure.com’s rate analysis, residents of Lakewood pay an average of $125 per month for homeowners insurance. This is same as the state average of $125 and $84 less than the national average for home insurance across the United States. The cost of your homeowners insurance policy in Lakewood can vary depending on your location, property value, and selected coverage options.

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

In Lakewood, NJ, homeowners pay an average of $1,139 annually for a $200,000 home. The annual cost of home insurance is influenced by factors such as the risk of natural disasters in your area.

Regions more susceptible to natural disasters, such as floods, hurricanes, or tornadoes, typically face higher rebuilding costs, leading to increased insurance premiums. It is important to understand that standard insurance policies might not cover damages caused by floods or hurricanes. If you live in a flood-prone area, it is advisable to purchase flood insurance.

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

According to a rate analysis by Insure.com, homeowners in Lakewood pay an average of $1,495 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $356 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

How much is homeowners insurance in Lakewood by company

Among the carriers analyzed, New Jersey Manufacturers is the cheapest homeowners insurance company in Lakewood. It’s average annual rate for Lakewood homeowners is $1,004. National General Insurance ranks second and State Farm makes it to the third spot with an average annual home insurance rate of $1,284.

Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Lakewood and prepared a list of the cheapest home insurance providers. You can find below the Lakewood home insurance companies and their average annual premium.

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

Methodology

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