11 Best Homeowners Insurance Companies in New Jersey 2023

Liberty Mutual offers coverage in the four main areas you can normally expect from homeowners insurance.

Standard Coverage

• Personal property: Personal possessions are covered in the cases of theft, vandalism, and damage by certain weather and non-weather-related occurrences up to a certain limit.
• Dwelling: Providers cost protection for structures on the insured property. These can be your home and freestanding structures such as garages and sheds.
• Liability and Medical: Liberty Mutual's homeowners insurance provides legal expense coverage for cases of personal liability payments for medical bills to plaintiffs.
• Loss-of-use Expenses: In cases you may not be able to inhabit your home, your insurance may provide or reimburse you for some of your lodging expenses.

Wind/hail and non-flood hurricane coverage also come standard, although you can opt out of this coverage if you are enrolled in New Jersey's FAIR insurance program.

Additional Coverage

You can also purchase additional protections such as inflation protection for coverage limits, replacement cost value for your possessions, jewelry, and water damage not caused by backup or overflow.

The first three listed discounts are Liberty Mutual's top discounts for New Jersey residents. You can ask an agent if Liberty Mutual's other discounts are available in your area.

• Multi-policy discount: Bundle policies and save.
• New home discount: Get a discount if you've newly purchased a home.
• Online purchase: Save when you purchase your policy online.
• Security device discount: Adding security devices to your home, such as security cameras, fire alarms, burglar alarms, deadbolts, and fire extinguishers.
• Claims-free discount: If you haven't filed a claim with your previous insurer, you may qualify for a discount.
• New Roof: Having a new roof can help you save on your premium.
• Newly purchased home: If you recently purchased one, you may qualify for a discount.
• New systems discount: If you just bought a new home or recently renovated your home and included all new electricals, plumbing, and HVAC systems and also added a new roof, your premium will be lower.
• Early quote discount: Homeowners who are insured by another company are eligible for a reduced rate if they get a quote from Liberty before that other insurance terminates.
• RCV discount: You qualify for a discount if you choose replacement cost to insure your home rather than ACV or actual cash value.
• Military discount: If you are an active military member or a veteran, you also get a discount.

Lemonade homeowners insurance provides coverage in four main areas: personal property, loss of use, personal liability, and medical expenses.

Standard Coverage

• Personal property coverage: This can benefit you if your items are lost, damaged, or stolen. 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.
• Dwelling: Damage to the structure of your home by covered perils.
• Liability and medical: Coverage for lawsuits and medical bills of others that may have been injured on your property.
• Loss of usage: This covers situations when you cannot live in your own home. You can file a claim for expenses for living away from your home in certain circumstances where it is not inhabitable.

Additional Coverage

Lemonade offers a robust number of endorsements for extra protection, some of them uncommon.

• Swimming pool coverage: This covers damage to the structure if it's not included in your standard policy.
• Appliance coverage: Offers extra protection for mechanical or electrical breakdown of appliances in your home. It's similar to home warranty coverage of appliances.
• Buried utility coverage: Lemonade will pay up to $10,000 if any buried utility, such as a water, gas, electrical, or sewage line, is damaged from an incident, electrical or mechanical failure, or natural wear and tear.
• Foundational water damage: Covers damage to your home's foundation if there is water back-up or a leak.
• Water backup: Choose between limits of $5,000 or $10,000 for damage caused by water backup which is caused by poor maintenance, wear and tear, or nearby flooding.
• Schedule personal property: This coverage ups the limit of your personal possessions. You'll need to select high-value personal items for this extra coverage, and Lemonade will reimburse you for the replacement cost in cases of damage or theft.
• Extended reconstruction coverage: Increases the limit of coverage to reconstruct your home in case of unforeseen increased costs.
• Liquid fuel oil and lead liability: This endorsement may be a good idea for homeowners who either have liquid fuel oil contained on their property

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

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

• Material discount: Covers those living in a house with fire-resistant materials.
• Fire protection: For homes providing fire safety equipment such as a sprinkler system or fire extinguisher.
• Protection equipment discount: Protects those who install fire and burglar alarms in their home.

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.

Standard Coverage

• Damage to the interior and exterior of the dwelling and other structures on your property are covered.
• Personal property is covered in cases of damage or being stolen. There is a standard cap on the coverage amount.
• Loss of use or additional living expenses incurred when you're not able to live in your home if it is not habitable.
• Medical payments for individuals injured on your property.
• Personal Liability includes attorney/legal fees as well as compensation or disbursement to anyone injured on your property.

Additional Coverage

• Personal Liability Umbrella insurance- increase the amount for personal liability coverage.
• Disaster coverage for floods and earthquakes.
• Extra coverage for itemized personal property. Coverage can also be purchased for business property and specialty items like sports equipment and musical instruments.
• Garden and landscaping coverage.Identity theft protection and electronic data recovery coverage. Reimbursement for legal fees or costs associated with identity theft and data recovery.

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

• Bundling discount: Save up to 25% when bundling with Allstate's auto insurance.
• Responsible payment discount: Find savings if you have a good payment history.
• Claim-free discount: Save up to 20% when you switch to Allstate without having filed a recent claim.
• Loyalty discount: Save up to 10% when you switch to Allstate, and receive the same discount annually when you stay with Allstate.
• Home buyer discount: Discounts for recent homebuyers and homeowners of new construction.
• Automatic payment discount: Save up to 5% when you sign up for automatic payments.
• Protective device discount: Save when you install security devices and smoke detectors.
• Early signing discount: Save up to 10% when you sign up at least seven days before your last policy expires.

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.

Standard Coverage

• Personal property: Covers personal property in cases of theft, vandalism, and damage from named perils.
• Dwelling coverage: Provides expense for the repair of damage or vandalism from named perils.
• Loss-of-use expenses: Provides coverage when you cannot dwell in your home for reasons related to a claim.
• Liability: Coverage in matters where you are sued for both damages and medical expenses.

Additional Coverage

• Dwelling and/or property replacement cost: You can opt to add-on to have Amica cover the replacement cost of your dwelling and/or personal property. It essentially ups the limit for either.
• Water backup: Provides extra protection for a water backup or sump overflow.
• Computer coverage: Protects your tablets, smart TVs, and phones.

Platinum Choice Home Coverage

This is a top-tier home policy. It includes everything in the standard policy plus beyond. It increases the limits for dwelling, personal property, and liability as well as high-value personal possessions such as jewelry or art

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

• Multi-line discount: If using Amica for both home and auto insurance, you could qualify for savings of up to 15%.
• Alarm system: Installation of sprinkler systems, fire alarms, and burglar alarms can decrease your premium.
• Loyalty discount: Customers who have been with Amica for over two years are eligible for a discount.
• Claims-free discount: You can be rewarded if you've been claims-free for the last three years.
• Auto-pay: Save money when you sign up for automatic payments to your premium.
• E-discount: Receive a discount when you enroll in paperless billing and receive your policy documents electronically.
• Automation detection discount: Various automated detection devices for temperature, water leaks, or gas leaks installed in your home may qualify you for a discount.
• New/renovated home: You may be eligible for this discount if you purchased a new or newly renovated home.

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

Standard Coverage

• Dwelling: Coverage for your home and other structures on your property.
• Personal property: Provides reimbursement for your personal items that were stolen or damaged with limits.
• Loss of use: Reimbursement for expenses you incurred for lodging if your home is uninhabitable for claim-related reasons.
• Personal liability: Coverage for if you are sued for monetary damages or medical expenses.

Additional Coverage

Travelers provides a few different options for protecting and increasing limits for your home policy.

• Dwelling or personal property RC: Coverage for dwelling and/or personal possessions to replacement cost instead of actual cost value.
• Special personal property coverage: Expands circumstances and named perils for personal property.
• Personal articles floater: Extra coverage for specifically named valuable items.
• Jewelry or valuables coverage: Expands limits for a certain class of high-value possessions.
• Identity fraud: Can provide up to $25,000 in expenses to restore your identity in cases of fraud.
• Water backup/sump overflow: Provides coverage for cases of water backup or sump pump overflow or discharge.
• Green home coverage: If loss occurs, this policy helps cover the cost to replace or repair with green materials.

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

• Bundling multiple policies: You can save up to 12% by bundling on policies such as auto, boat, umbrella, etc.
• Protective device discount: Receive a discount by installing automatic water shut-off systems, sprinkler systems, security systems, and more.
• Early quote discount: By shopping early for your policy, you can earn up to 10% in savings. The earlier you shop, the more you can save.
• New home buyer: You may qualify for a discount if you purchase your home less than 12 months prior to purchasing your policy.
• Loss-free discount: Homeowners with no claims or losses within a specified period of time may be eligible for this discount.
• Green home discount: If your home is LEED-certified green, you may receive up to 5% off.

NJM provides all of the basic coverage for homeowners.

Standard Coverage

• Personal property: Covers the cost for repairing or replacing personal property, to a certain limit, stolen or damaged by named perils. This includes securities and money protection.
• Dwelling coverage: Reimbursement for the cost of replacing or repairing the structures on your property which include your home as well as other buildings such as sheds or garages.
• Liability coverage: Covers legal fees if you are sued.
• Medical expenses: Provides coverage for medical bills if someone is injured on your property.
• Loss of use coverage: Reimbursement for expenses you might incur for lodging if your home is temporarily uninhabitable.

HO-5 Coverage

This policy option is similar to the standard homeowners policy except dwelling and personal property are protected under an open peril policy (unless explicitly stated) rather than named perils.

Additional Policies

NJM offers a plethora of add-on options to your standard home insurance, making it one of the most customizable home policies in the state.

• Credit, money, and fraud coverage: Get protection against fraudulent use of your credit cards, or damage against forged checks or counterfeit money--up to $50,000.
• Earthquake insurance: Protection for your home or personal possessions in the case of damage or loss from an earthquake.
• Other members of your household: Extend liability and personal property protection to other members of your family. You can even opt to extend protection for non-familial people who reside in your household.
• Special limits of liability for personal property: Extends limits of special items such as money, securities, firearms, jewelry and other valuables, silverware, and computer equipment.
• Identity fraud coverage: Get protected up to $15,000 incurred by identity theft.
• Scheduled personal property: Broadens protection for high valuables with no deductibles. Individual appraisals must be provided to NJM.
• Water backup/ sump overflow: Covers damage from a water backup or sump pump overflow or discharge. Doesn't cover repair or replacement of sump pump.
• Assisted living family member coverage: This policy provides personal property and liability protection for a family member who resides at an assisted living facility.
• Self-storage protection: Extends protections to your personal property at a self-storage facility.
• Limited fungi, dry/wet rot, or bacteria coverage: Broadens coverage for instances of damage from mold or fungi, to access and repair the affected area.
• Other structures coverage: Extends limits and coverage for structures not attached to your home on your property such as sheds, garages, or pools.
• Loss assessment coverage: This applies specifically for policyholders that are members of a condo association or a homeowners association. If the CA or HOA are find liable and must pay damages, this policy helps cover your portion of that special assessment. You can get coverage up to $1,000 for an HOA or $6,000 for a CA, but higher limits are available for purchase.

NJM offers customers a wide variety of discounts as they do with endorsements.

• Multi-policy discount: Bundle your home policy with auto and save on both.
• Security discount: If you have smoke detectors, burglar alarms, cameras, automatic sprinkler systems, and live in a gated community, you’ll get a discount.
• Nonsmoking discount: Get rewarded for not smoking or quitting.
• Senior discount: If you are 65 or older, you’ll get a discount.
• Backup or Generator discount: Save if you own an automatic backup power supply or portable generator.
• Pay-in-full discount: Get a discount for paying your premium in full.
• Electronic payment discount: Enroll in automatic payments and find more savings.
• Paperless discount: Opt for paperless billing and policies and get a discount.
• Storm shutters/Impact glass: Discount if you have impact-resistant glass on all windows

Cumberland Mutual offers the following with their standard home policy.

Standard Coverage

• Loss of use of home: Equipment breakdown to cover repairs and replacements.
• Personal liability: Service line coverage for losses associated with communication, propane, and gas.
• Home and attached structures: Covers claims to a limit for repairs or replacement of your home and standalone structures on the property.
• Personal property: Reimbursement for loss or damage of personal chattel from theft and other named perils.

You also get extra coverage not typically offered by most standard homeowners insurance.

• Service and utility lines: This covers damage or loss associated with electricity, gas, water, or communication lines on your property.
• Appliances coverage: Covers repairs and replacements of home appliances and some home electronics such as televisions.
• Identity theft: Identity theft specialists are available to help you with suspicious activity on your accounts.

Additional Coverage

Cumberland Mutual offers the following endorsements to supplement their already robust standard coverage.

• Sewer backup/sump overflow: Covers issues affected by sewer/water line backups and/or sump pump overflow or discharge.
• Replacement value: You can opt for replacement value over the actual cash value for better reimbursements.

Besides the following discounts, consider increasing your deductible for additional savings.

• Multi-policy discount: Discount for combining home insurance with another policy like auto.
• Security device discount: Get a discount for having security or fire alarms installed in your home.
• Claims-free discount: Find savings if you haven't filed a claim.
• New home discount: Get rewarded with savings for purchasing a home recently.

As mentioned before, Selective offers tiers of homeowners insurance starting with Standard coverage.

Standard Coverage:

• Dwelling: Actual cash value for loss of your dwelling
• Personal property: Up to 70% of dwelling in loss of personal property, plus additional limits divided into categories that include but may not be limited to valuables, firearms, crafts and trailers, business property or equipment, and credit cards or electronic transfer loss.
• Personal liability/Medical: Coverage for liability and legal fees related to liability. $1,000 in medical payments to others. Personal injury liability is not included in this policy.
• Loss of use expenses: Up to $1,000 in accommodation expenses in case your dwelling is uninhabitable.

Additional Coverage Options

• Scheduled Wine and Spirits: Coverage for high-value bottles that exceed $5,000 and collections with values over $50,000.
• Service Line: Covers expenses for repairing/replacing service lines, damage to outdoor property due to repairs, and additional living costs incurred.
• Identity Protection: Covers the cost of legal fees, lost wages, and other out-of-pocket expenses for identity theft cases.
• Home Cyber Protection: Provides coverage for computers, tablets, smartphones, and other connected technology in the event of a cyber-attack, cyber extortion, online fraud, and more .
• Home Systems Protection: An optional coverage that is similar to a home warranty. It covers home systems and major home appliance breakdowns, including central air, boilers, furnaces, installed sump pumps, and more.

Summit Classic

Provides the same as Standard coverage, but dwelling is covered up to 150% of ACV, personal property is increased to 75% of dwelling and includes much higher limits for more items, such as golf carts, personal injury liability, water backup or sump pump overflow. Medical payments to other and liability are also significantly increased.

Summit Elite

Builds on Summit Classic by upping limits for business property, includes personal computer coverage and identity fraud protection, and much more.

Selective Edge

This coverage can only be purchased by customers who have bundled both home with auto policies. It provides enhanced coverage for both policies. On the homeowners side, Selective Edge includes replacement cost, increased water backup coverage, increased non-dwelling replacement cost, and increased coverage for valuables.

Platinum Policy

Platinum is the highest level of Selective homeowners coverage and is designed namely for high-valued properties.

There are several types of discounts available to customers using Selective Insurance. In addition to these savings opportunities, Selective also offers a special discount for policyholders interested in purchasing a security service package from SimpliSafe, which can also qualify them for an extra discount on their homeowners policy.

• Bundling discount: Having an auto policy with Selective will qualify you for savings.
• Protective devices: Having smoke alarms, burglar and fire alarms, automatic sprinkler systems, and all smart home safety and protective devices installed in your home qualifies you for a discount.
• Quote in advance: Find savings when you get a quote 15 days in advance of the renewal date of your current insurance policy.
• Good payer discount: Consistently paying your insurance bill on time can also help you save.

Standard Coverage

One of the remarkable standouts of USAA home insurance is that replacement cost comes with standard coverage.

• Dwelling: Coverage not just for your home but other structures on the property both attached and detached such as garages, fences, and swimming pools.
• Personal Property: Coverage to repair or replace personal possessions, furniture, electronics, and valuables.
• Loss of Use: Extra expenses for boarding fees just in case your home is temporarily uninhabitable.
• Liability/Medical: Expenses and fees for any personal liability cases brought against you. Also, payment for medical expenses for anyone who might have been injured on your property.
• Water/mold damage: An added bonus from USAA is that you do get coverage for some cases of water or mold damage, which normally doesn't come standard with most home policies.
• Identity Theft Protection: Most standard policies won't offer coverage for identity theft. This is covered as a named peril with USAA.

High-Value Home Coverage

Instead of purchasing standard home insurance, high-value home insurance is a more appropriate option for those who own custom, luxury, or high-value properties worth $1.5 million and above. Policies are custom-pieced together to fit your property's needs, and concierge service is provided through USAA.

Additional Coverage Options

Some of the following add-ons may not be available for all coverages/policies.

• USAA Home Protector: Adds 25% more to what you get for rebuilding costs, debris removal, ordinances or law requirements.
• Cash-Out Option: With this coverage, you can opt to fully cash-out of your insurance policy rather than rebuild your home in the same place.
• Guaranteed Replacement Cost: Replacement cost doesn't always guarantee that you'll receive the total cost to rebuild your home in some states, so guaranteed replacement coverage guarantees just that.
• Broader Personal Property Limits: Broadens limit on personal property coverage, including for valuables that might be misplaced or stolen, but some restrictions do apply.
• Large Loss Deductible Waiver: Waives your deductible in the case of a large loss/claim that is typically $50,000 or more. Doesn't apply to losses from earthquakes or hurricanes.
• Risk Consulting: Helps homeowners mitigate the risk of perils such as wildfire.
• Home Systems Protection: Functions like a home warranty and covers home systems in cases of mechanical or electrical breakdowns. Deductibles apply.
• Kidnap, Ransom, and Extortion: Helps pay for situations of ransom or extortion, including its management and resolution.

Other Important Insurances For Homeowners Offered By USAA

• Earthquake Insurance
• Flood Insurance
• Windstorm Insurance
• Umbrella Insurance
• Valuable Personal Property

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.

• Bundling discounts: Bundling home with auto saves you 10% on your home insurance premium. Adding on rental property, renters, additional insurance for valuables, umbrella, or life insurance, or one of USAA's banking products, you can save an additional 5% on your home insurance premium.
• Claims-free discount: Being a USAA home insurance customer with no claims for 5+ years can help save up to 15% off.
• Loyalty discount: Being a USAA home insurance customer for 3 years may qualify you for up to a 5% discount.
• Protective device discount: Get up to 5% off for having a protective device such as a monitored fire alarm or monitored home security system.
• Connected home program discount: If you enroll in the program, you'll need to install at least two qualified devices that monitor water leaks in order to qualify for a 7% discount off your premium.

Standard Coverage

• Dwelling: Your actual dwelling structure is covered by this policy, which is likely actual cash value or up to policy limits.
• Personal Property: Your personal possessions are also protected under a standard policy to a certain limit.
• Medical/Liability: Liability for yourself and your loved ones who reside with you, also medical payments for someone who might have been injured on your property.
• Loss of Use: Coverage for your expenses incurred from loss of use of your home.

Additional Coverage Options

• Extended limit homeowner endorsement: Different from replacement cost, this coverage adds an extra financial cushion if the cost to repair or rebuild your home exceeds the policy limits, then Franklin Mutual will pay 150% of the stated limit.
• Sewer/Septic Backup: Coverage for property damage in the case of a sewer backup.
• Identity Theft Protection: Fraud resolution services, as well as coverage for recovery.
• Valuable Possessions: Increased limits for your most valuable possessions such as jewelry, fine art, silverware, computers, etc.
• Home Business: Protection for your home business.
• Sump Pump Failure: This is for overflow or failure of your sump pump.
• Equipment Breakdown: Get extra coverage for your home systems for a mechanical or electrical breakdown/
• Residential Companion: You can extend your coverage to include your spouse or partner.

FMI offers a few ways homeowners can save on their premiums.

• Customer loyalty: A discount for being an FMI customer for a certain span of time.
• New homes (less than 12 years old): You might qualify for a discount if your home is less than 12 years old.
• Protective device: You may qualify for savings if you have a fire alarm or other type of protective device installed in your home.
• Fire sprinklers: Having sprinklers installed in your home can help you save on your premium.
• Mature homeowner (Age 55+): Seniors and older homeowners get a discount.