Selective Homeowners Insurance
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Cost
The best way to estimate your costs is to request a quote
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Maximum coverage
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App available
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Policy highlights
Selective offers homeowners insurance in 15 states that can be a good fit for those with high value homes and those who want to enhance a standard homeowners policy with additional options. The company’s homeowners insurance offers the option to buy additional coverage like service line coverage, coverage for home systems like central air and furnaces, and coverage for flooding on top of a standard homeowners insurance policy.
- Selective’s Platinum Policy offers replacement cost coverage for non-building structures and jewelry coverage.
- Flood insurance coverage also available through Selective
- Claim service available 24/7
- Homeowners insurance only available in 15 states
- Quotes and buying not available online
- Few discounts available
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Who’s this for: If you want the customization and ease of working with an individual insurance agent, Selective offers affordable rates on New Jersey homeowners insurance.
Standout benefits: Selective offers flood insurance coverage through the National Flood Insurance Program (NFIP), which could make it easy to get and manage coverage alongside your homeowners insurance.
NJM Homeowners Insurance
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Cost
The best way to estimate your costs is to request a quote
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Maximum coverage
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App available
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Policy highlights
NJM Homeowners insurance policies are only available in a few states, including Connecticut, Maryland, New Jersey, Ohio and Pennsylvania. However, NJM homeowners insurance is a strong option for its variety of additional endorsements and coverages, which could help protect families from things like credit card fraud and identity theft to earthquakes.
- 9 discounts available, including one for those over age 65
- Variety of additional endorsements available
- Home and auto bundling available
- Low NAIC complaint index for homeowners insurance
- Only available to residents of five states
- No J.D. Power rating available
- Limited policy management features available online
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Who’s this for: NJM homeowners insurance isn’t available in many states, but it is available in the Garden State. It stands out for having a relatively low complaint index from the National Association of Insurance Commissioners (NAIC), meaning that its homeowners insurance policies receive few formal complaints filed with the association when adjusted for the company’s size.
Standout benefits: NJM offers a wide variety of endorsements that can be added to a homeowners policy to make it better fit your needs. These endorsements can include coverage for things like fungi and bacteria growth and earthquake coverage, both of which wouldn’t be covered under a standard homeowners insurance policy.
State Farm Homeowners Insurance
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Cost
The best way to estimate your costs is to request a quote
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Maximum coverage
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App available
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Policy highlights
State Farm’s homeowners insurance offers coverage that’s easy to bundle with other types of insurance and covers things like fire, theft or vandalism. It offers several discounts for home security systems and wind mitigation.
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Does not cover
Business or professional services, damage from flooding or underground water, earthquakes or mudslides, settling or deterioration, and animals, birds or insects.
- Lots of optional coverages available
- Ability to bundle policies and save with auto or term life insurance policies
- Online quotes not available in all states
- Does not offer new homeowners insurance policies in California
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Who’s this for: As one of the larger insurance companies in the U.S., State Farm‘s policies are a strong option across the country, including New Jersey. Its large variety of insurance products also makes it a top choice for bundling your coverage.
Standout benefits: State Farm offers discounts for bundling home and auto insurance policies, so it’s a great fit for those wanting to simplify their insurance management. And, it’s one of our top picks in the auto insurance space, too.
USAA Homeowners Insurance
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Cost
The best way to estimate your costs is to request a quote
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Maximum coverage
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App available
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Policy highlights
Policy covers most weather-related damages, theft, vandalism, sudden and accidental water damage and mold. Also covers personal liability, personal belongings, dwelling and other structures and loss of use
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Does not cover
Flood insurance, water damage and mold that has built up slowly over time, high-value personal items
- USAA Perks™ program for discounts on moving and storage, home security and handyman and cleaning services
- Claims-free discount available
- Discounts for installing smart home devices that detect leaks, smoke and more
- Added benefits for military members such as coverage for uniforms and equipment for active-duty members
- Coverage and discounts are not available in all states
- Must become a USAA member in order to get a quote
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Who’s this for: USAA is available to military members present and former across the U.S., including in New Jersey. While it’s limited to those with a USAA membership, the brand’s homeowners insurance stands out for its strong customer service and affordable prices.
Standout benefits: With USAA, replacement cost coverage is standard. While that’d be an additional cost with most other insurers, getting a homeowners insurance policy for USAA could help you automatically get more for your belongings if damaged. Special coverage for military equipment and uniforms is also standard for active-duty members.
Selective has been offering homeowners insurance policies since 1926, and boasts some of the more affordable policies in New Jersey of the companies we reviewed.
Average annual cost in New Jersey
$476
Homeowners insurance NAIC complaint index (average is 1)
0.71, below average
A.M. Best rating
A+
J.D. Power customer satisfaction rating
Not rated
NJM, also called New Jersey Manufacturers Insurance Company, insures homes in the Garden State and a few other states at affordable rates. It also has a low NAIC complaint score.
Average annual cost in New Jersey
$721
Homeowners insurance NAIC complaint index (average is 1)
0.04, very low
A.M. Best rating
A+
J.D. Power customer satisfaction rating
Not rated
As one of the larger property insurers in the U.S., State Farm has been rated highly for financial strength and has relatively few complaints with the NAIC.
Average annual cost in New Jersey
$1,281
Homeowners insurance NAIC complaint index (average is 1)
0.14, below average
A.M. Best rating
A++
J.D. Power customer satisfaction rating
829 out of 1,000, above average
While it’s only available to veterans, military members and their families, USAA offers homeowners insurance with strong records for customer satisfaction and few complaints.
Average annual cost in New Jersey
$963
Homeowners insurance NAIC complaint index (average is 1)
0.55, below average
A.M. Best rating
A++
J.D. Power customer satisfaction rating
881 out of 1,000, above average
FAQs
How much is homeowners insurance in New Jersey?
New Jersey homeowners pay about $1,112 a year on average for $300,000 of dwelling coverage, according to Bankrate data, or about $93 per month. That’s about half of the national average cost.
What is the best homeowners insurance in New Jersey?
The best homeowners insurance company in New Jersey varies based on your needs, but comparing quotes from NJM, State Farm and Selective can help you find the best price.
What is the cheapest homeowners insurance in New Jersey?
Selective offered the cheapest homeowners insurance in New Jersey of the providers we examined, at an average of $476 per year. It was followed by NJM at $721 per year.
What does homeowners insurance cover in New Jersey?
Homeowners insurance generally covers damage to the structure of your home and surrounding structures like your fence or garage. It can also cover stolen or damaged personal property, bodily injuries that a visitor sustains while on your property, vandalism and damage from fires and some other natural disasters. You may need a separate policy to cover your home from hurricanes and floods.
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of insurance products. To research the best homeowners insurance companies in California, we compiled over 100 data points on more than a dozen insurance companies. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best homeowners insurance companies in New Jersey.
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To determine the best homeowners insurance companies in New Jersey, CNBC Select analyzed several insurance companies offering homeowners insurance coverage in the state.
When narrowing down and ranking the best homeowners insurance companies, we focused on cost with a sample premium gathered from Bankrate.com based on $300,000 of dwelling coverage. We also considered the coverage offered, ease of use, customer satisfaction ratings from J.D. Power, financial strength ratings from A.M. Best and complaint indexes from the National Association of Insurance Commissioners.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
Note that the premiums and policy structures advertised for car insurance companies are subject to fluctuate in accordance with the company’s policies.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
