10 Best Homeowners Insurance Companies in New Jersey 2021

We all know now, more than ever, that life is unpredictable.

Prepare for the unknown by covering your home with homeowners insurance.

Homeowners insurance is necessary to keep you and your home protected in the case of an unforeseen emergency.

Most homeowners insurance policies provide coverage after damage from fire, theft, smoke, etc.

However, each company may differ slightly from each other, especially if moving from a different state such as New York.

Top 10 Home Insurers in New Jersey

• Lemonade: Best Modern Insurance Company
• Allstate: Best Home Insurance for Local Agents and Discounts
• Amica: Best Overall Homeowners Insurance
• Travelers: Most Experienced Homeowners Insurance Company
• NJM: Best Insurance for Bundling
• Cumberland Mutual: Best Insurance for Fast Claims Processing
• Kingstone Insurance: Best Insurance for High-Value Properties
• Selective Insurance: Best Low-Cost Home Insurance
• USAA Home Insurance: Best Homeowners Insurance for Veterans
• Franklin Mutual: Best Home Insurance for New Homeowners

Best Modern Insurance Company: Lemonade

In 2015, Lemonade was founded by Daniel Schreiber who once worked at SanDisk and Powermat.

Lemonade originally started by providing renters and homeowners insurance before expanding to pet and life insurance.

Lemonade has affordable policies starting at $5 a month for basic coverage.

The reason why the coverage is so cheap is that they use artificial intelligence (AI).

Instead of using insurance agents, clients on Lemonade can set up their accounts, file claims, and make changes to policies on the Lemonade mobile app.

Which Type of Coverage Does Lemonade Provide?

Lemonade mainly provides coverage in three main areas: personal property, loss of use, and personal liability.

If your items are lost, damaged, or stolen, then personal property coverage can benefit you.

Situations such as lightning, fire, hail, smoke, theft, vandalism, and more are covered under personal property.

In New Jersey, hurricane coverage is an optional add-on.

Loss of use covers situations for when you are not able to live in your own home.

If a fire, tornado, etc. wreaks havoc on your home, Lemonade renters insurance will cover additional temporary housing and living expenses.

Should someone fall on your property and get injured, personal liability protects you if they decide to file a suite against you.

Lemonade will cover your legal fees and medical bills of the hurt person.

Scenarios do vary, but reaching out to Lemonade’s customer service team can help clarify things.

What Discounts Are Available Through Lemonade?

Lemonade provides several money-saving options when purchasing insurance through them.

There are also more ways to save by bundling your policies.

What Are the Pros and Cons of Lemonade Homeowners Insurance?

When choosing an insurance company, it can be as simple as just finding the right fit.

Make a list of things you are looking for, and any possible deal breakers.

Researching the company and looking at the reviews will give you a good idea of common pros and cons to expect.

One significant pro of Lemonade is their giveback program.

The company takes 20% to cover expenses and another percentage to buy reinsurance coverage.

If there is any money leftover, Lemonade donates it to charity.

Best Home Insurance For Local Agents and Discounts: Allstate

Allstate is easily one of the most recognizable names in the insurance game, with major TV ads playing nationally for years.

However, you shouldn't dismiss Allstate as just another insurance giant that will treat you like a number.

Across the board, Allstate scores high for coverage, convenience, and discounts, but the true prize is that Allstate has an incredible network of agents that understand the nuances of their areas and coverage and service that their customers require.

As a matter of fact, Allstate receives rave reviews from customers particularly on their local agents and also is highly rated by J.D. Power and Associates.

What Type of Coverage Does Allstate Provide?

Besides the standard coverage, Allstate offers all kinds of extras like flood, earthquake, sports equipment, musical instruments, and garden/landscaping coverage just o name a few.

In addition, Allstate gives the average customer plenty of opportunities to earn discounts.

What Discounts Are Available Through Allstate?

Allstate is known for the numerous discount opportunities for their customers.

What Are the Pros and Cons of Allstate Homeowners Insurance?

Like most large national insurance companies, Allstate has some advantages that they can pass on to their customers but may be more limited in other ways.

Best Overall Homeowners Insurance: Amica

This company has been providing reliable homeowners insurance services since 1907.

Favorites features include optional dwelling replacement, autopay discount, claims-free discount, electronic billing discount, and more.

Customers favor Amica for its high-quality support.

A dedicated Amica representative will answer your concerns via email, call, or online. Amica does not use agents to sell insurance, so you will be receiving factual information, not fluff.

Amica is highly rated with top agencies and organizations including the Better Business Bureau, J.D. Power, and the 100-year-old U.S. credit rating agency, A.M. Best.

Which Type of Coverage Does Amica Provide?

Amica provides a wide range of basic and optional coverages and the ability to customize your limits.

If the basic standards are not enough for you, you can opt for the platinum choice policy for a broader choice.

What Discounts Are Available Through Amica?

There are certain ways to decrease the amount of your insurance. With a little bit of effort, you can find some great deals.

What Are the Pros and Cons of Amica Homeowners Insurance?

Getting homeowners insurance may be an added cost, however, it provides a safety net in case the unforeseen happens.

Amica does not have a reward program for loyal customers, yet their friendly customer service keeps clients coming back.

Best Insurance Company with the Most Experience: Travelers

With over 160 years of experience in the insurance industry, Travelers has the most experience in comparison to competing companies.

Travelers home insurance policy provides plenty of insurance options and has experience in dealing with a wide range of situations.

Which Type of Coverage Does Travelers Provide?

If purchasing a home insurance policy with Travelers, you will receive a decent amount of coverage.

Insurance policies include dwelling, other structures, and personal liability.

What Discounts are Available Through Travelers Insurance?

There are ways to save on your home insurance by bundling your policies and researching the discounts.

You can receive more discounts by installing security equipment, fire protection devices, and certain smart home services.

When bundling three policies with Travelers, you will save up to 12% on home insurance.

These policies can include auto, boat, umbrella, etc.

You can receive a protective device discount by installing systems such as: automatic water shut-off systems, interior sprinkler systems, and home security systems.

With an early quote discount, you can save up to 10% by shopping early for your policy.

The percentage you save depends on how far in advance you shop for insurance.

What Are the Pros and Cons of Using Travelers Homeowners Insurance?

Support and coverage are key components of homeowners insurance.

Having an insurance company with a 24/7 available claims center is a benefit.

However, it might be pointless if the person you contact at 3am is in a bad mood during your time of need.

Best for Bundling Policies - New Jersey Manufacturers Insurance

New Jersey Manufacturers Insurance or NJM, was not always widely available except to members of certain groups.

In 2018, NJM got rid of those limits and now provides auto, renters, homeowners, and umbrella insurance to those living in New Jersey, Connecticut, and Pennsylvania.

NJM does not use agents to sell their policies, and instead sells policies directly to customers via phone and online.

NJM is incorporated as a stock company, meaning that they pay dividends and premium credits to New Jersey policyholders.

It is important to note that payments are not guaranteed.

Which Type of Coverage Does NJM Provide?

NJM provides all of the basic coverage for homeowners.

These include protection for your property, coverage for separate structures such as sheds, and liability coverage.

You have several add-on options to choose from such as additional coverage for valuable items and collectibles like jewelry, coverage for damage due to fungi, and water back protection.

What Discounts Are Available Through NJM’s Insurance?

NJM offers a variety of discounts to help their customers save.

You can qualify for a discount just by installing smoke detectors, automatic sprinkler systems, and burglar alarms. Y

ou will be surprised to see how much you can save with little effort.

What Are the Pros and Cons of Using NJM?

NJM is for those living in New Jersey, Pennsylvania, and Connecticut.

Those living outside those states are not yet eligible for NJM.

Best for Fast Claims Support - Cumberland Mutual

Providing customers with insurance since 1844, Cumberland Mutual is the oldest casualty and mutual property business in New Jersey.

Cumberland provides renters, auto, homeowners, and umbrella insurance.

Customers can expect personal service with the ability to file a claim online or reach out to the emergency after-hours claims hotline.

Which Type of Coverage Does Cumberland Mutual Provide?

Cumberland Mutual is a property and casualty company that provides homeowners and rental insurance in New Jersey.

Coverage with Cumberland is available in NJ, PA, DE, and MD.

What Discounts Are Available Through Cumberland Mutual?

Everyone loves a good discount, especially when it comes to insurance.

Some discounts include: new home, alarm, and multi-policy discounts.

What Are the Pros and Cons of Using Cumberland Mutual?

If you like to deal with people personally rather than online, then you will be happy to know that Cumberland Mutual deals with their customers by building relationships. However, Cumberland Mutual does provide some online services.

Best for High-Value Properties - Kingstone Insurance

Those looking for a higher cap on insurance will appreciate Kingstone, as their cap is higher than most insurance companies in NJ.

If purchasing homeowners insurance, Kingstone allows limits of up to $5 million in building coverage and $1 million in liability coverage.

Created in 1886, Kingstone Insurance has over 130 years of experience in the field.

There are several types of coverage to choose from, including homeowners insurance.

Which Type of Coverage Does Kingstone Provide?

With Kingstone you are not under obligation to pay a deductible for claims due to damage from winds or hurricanes.

For those living outside of New Jersey, you can still use Kingstone if you live in New York, Rhode Island, Connecticut, and Massachusetts.

There is no requirement to pay deductibles for claims against hurricane or wind damage.

What Discounts Are Available Through Kingstone?

You can save money with Kingstone by purchasing more than one policy and installing safety protection devices.

You can save money just by protecting yourself and your family.

What Are the Pros and Cons of Using Kingstone?

Kingstone caters to their customers, and they notice and appreciate it.

Though Kingstone offers few discounts, they offer unique options , such as dog liability and vacation home coverage.

Best for Low-Cost Homeowners Insurance - Selective Insurance

Selective Insurance is for homeowners looking for a low-cost insurance plan.

Low cost does not mean low quality, as Selective provides their customers with plenty of options and discounts.

Daniel L.B. Smith came up with the idea of creating an insurance company after a horse and buggy accident.

In 1926, the Selective Insurance Company was born, providing personal, business and flood insurance.

While their headquarters are in Branchville, New Jersey, Selective is available nationwide.

Which Type of Coverage Does Selective Provide?

Selective Insurance is one of the largest flood insurance providers in the United States.

However, you can also receive business and personal protection as well.

What Discounts Are Available Through Selective?

There are several types of discounts available to customers using Selective Insurance.

Besides for the common types of discounts, Selective offers other ways to help you save.

What Are the Pros and Cons of Using Selective Homeowners Insurance?

There are plenty of benefits of choosing homeowners insurance with Selective Insurance but there are also a few things to look out for.

Best for Veterans - USAA Home Insurance

USAA respects America’s veterans and makes it their number one goal to protect them and their family.

USAA also recognizes that the needs of a veteran may differ slightly from the needs of others, and USAA prioritizes those differences.

Which Type of Coverage Does USAA Provide?

Selective Insurance is one of the largest flood insurance providers in the United States.

However, you can also receive business and personal protection as well.

USAA will work with you to customize your coverage at a reasonable rate.

Coverage includes most weather-related circumstances, liability, theft, and more.

What Discounts Are Available Through USAA?

USAA offers several different types of discounts to protect their customers.

They also provide more than just savings in insurance, as USAA also promotes savings to veterans on shopping, travel, entertainment, and more.

It is important to know that USAA no longer provides a discount for those who install smoke detectors.

Their reason being is that smoke detectors can be found in most households and are fairly common.

What Are the Pros and Cons of using USAA Homeowners Insurance?

USAA does not provide as many discounts as its competitors but their base coverage plan includes policies that usually cost additional at other companies.

While USAA is available nationwide, USAA is only accessible to veterans, those in the military, and their families.

Best for New Homeowners - Franklin Mutual

It can be intimidating enough to own your first home but add in homeowners insurance, and you have a whole different animal.

Luckily, Franklin Mutual helps make the process seamless and easy.

Franklin Mutual creates custom policies with their customers to cater to their needs for fast and easy protection.

Which Type of Coverage Does Franklin Mutual Provide?

Franklin Mutual provides homeowners insurance with a choice to purchase an extended limit endorsement at an additional cost.

If it costs more than your coverage amount to repair or rebuild your home, then you may be eligible for Franklin Mutual to pay up to 150% of your limit.

What Discounts Are Available Through Franklin Mutual?

Once you have chosen an insurance company to handle your homeowners insurance, you may think most of the work is done.

However, it is important to do your research on the company you choose as you may miss out on special discounts and savings.

What Are the Pros and Cons of Using Franklin Mutual Insurance?

Franklin Mutual is great for new homeowners who prefer a clear and convenient breakdown from their agent rather than fancy jargon.

Franklin Mutual works with their clients to make sure they thoroughly understand the policy they are purchasing.

How We Decided

It was important to choose home insurance companies that provide different types of perks.

We were particular in including a homeowners insurance policy specific for veterans to raise awareness of the different types of benefits available.

Available Discounts

Discounts are important for both the customer and the company as they have the potential to attract more clients. Businesses providing several different discounts made an impression with us.

Extra points were given if a company’s standard policy included benefits that usually cost an additional amount with other businesses. Bundling discounts were also a big plus for us as it is a smart incentive to get the customer to purchase other policies.

Customer Service

If you are dealing with a burglary or fire, chances are you are going to be upset. You need a company that offers round-the-clock service for emergencies. Companies having 24/7 service rank high in this category.

Besides being available to customers, it is also important that the customer service is friendly. The caller is going to be upset and irrational and needs a calm, level-headed person on the other end. Friendliness was a high priority here.

Unique Features

Homeowners insurance should include all of the basic protection such as personal liability, personal property, medical payments, etc. However, the additional perks and features can make a company stand out.

Those who offered uncommon policies stood out, regardless of the features were add-ons or part of their standard policy.

What is Typically Covered with Homeowners Insurance in NJ?

Besides protecting against fallen trees, vandalism, etc., homeowners insurance can also cover you against certain types of weather including lighting, wind, or hail.

If you are unable to live in your home due to covered damages, your homeowners insurance may also pay for food and alternative lodging.

There are usually six different types of home insurance policies to cover you in New Jersey.

Which Additional Policies Should You Consider Purchasing?

While New Jersey is not extremely susceptible to hurricanes, Hurricane Sandy changed a lot of minds for most homeowners.

There is a reportedly 11% chance that a hurricane with winds over 74 mph will come within 50 miles of NJ.

The long-term average of this chance drops to 7% but still makes it possible that you may encounter a hurricane.

Most standard homeowners policies do not include flooding coverage.

If you live near the coast or have a basement prone to flooding, then you should look into food insurance to protect your assets.

If the home insurance company you choose does not offer flood protection, you can still cover yourself.

The National Flood insurance Program makes it possible to get the coverage you need without having to look for a new insurance company.