11 Best Homeowners Insurance Companies in New Jersey 2023
Securing your home with homeowners insurance is vital for protecting against unforeseen emergencies. These policies typically offer coverage for damages resulting from events such as fire, theft, and smoke. However, when choosing a homeowners insurance provider in New Jersey, finding the right fit for your unique needs is essential.
Begin by creating a list of your desired coverage elements and any potential deal-breakers. Conduct thorough research on each prospective company, paying close attention to customer reviews to gauge the common advantages and drawbacks of each provider. By comparing coverage and costs among the top homeowners insurance providers in New Jersey—carefully selected by PropertyNest's expert editors—you can confidently make an informed decision and safeguard your home against life's uncertainties.
The Best Homeowners Insurance Companies in New Jersey
- Liberty Mutual: Best Home Insurance for Savings
- 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 Most Endorsements
- Cumberland Mutual: Best Insurance for Fast Claims Processing
- Selective Insurance: Best Low-Cost Home Insurance
- USAA Home Insurance: Best Homeowners Insurance for Veterans
- Franklin Mutual: Best Home Insurance for New Homeowners
Compare Home Insurance Rates in NJ
Liberty Mutual: Best Home Insurance for Savings
- Available in 50 states & Washington, D.C.
- Quote access: Online or by phone
Liberty Mutual Homeowners Insurance ensures that your house is protected against certain incidentals. Liberty Mutual has covered everything from break-ins or natural disasters to even when you need emergency home repairs. They offer a 24/7 service that dispatches a specialist to the scene so you can get back to living in peace and safety in your own home. Liberty Mutual offers competitive rates and discounts for homeowners insurance.
As one of the nation’s largest homeowners insurance providers, Liberty provides options like Preferred risk, designed to help lower your premium by ensuring you won't need to make a claim before coverage starts.
And with UPromise Rewards®, you can save up to $800 off agent or retailer fees on home purchases or expansions that total over $5,000. Liberty Mutual will offer you an exclusive discount if you’ve been a member of a participating association or group for at least six months.
Read a full Liberty Mutual home insurance review.
Liberty Mutual Homeowners Insurance Coverage
Liberty Mutual offers coverage in the four main areas you can normally expect from homeowners insurance.
- 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.
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.
Liberty Mutual Homeowners Insurance Discounts
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.
Liberty Mutual Home Insurance Pros & Cons
- Features many discounts and several credit opportunities.
- Emergency Home Repairs service is available 24/7.
- Affiliated with many organizations and groups across New Jersey making it easy to lock in competitive premiums.
- Customer satisfaction ratings are average or below.
- An excess number of complaints to state regulators than expected for its size.
|J.D. Power (out of 1,000)||805|
|A.M. Best - Financial Strength Rating||A|
|NAIC Complaint Index||2.37|
Lemonade: Best Modern Insurance Company
Lemonade has very affordable policies starting at $25 a month for basic coverage. One of the reasons their rates are generally low is that they use artificial intelligence (AI).
AI does the work of pulling data from public property records and calculating the risk of a particular property and its area to come up with a quote. And instead of using insurance agents, customers on Lemonade can set up their accounts, file claims, and change their policies on the Lemonade mobile app.
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 left over, Lemonade donates it to charity.
Lemonade Homeowners Insurance Coverage
Lemonade homeowners insurance provides coverage in four main areas: personal property, loss of use, personal liability, and medical expenses.
- 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.
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 Homeowners Insurance Discounts
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.
Lemonade Homeowners Insurance Pros & Cons
- Lemonade’s Giveback Program allows their customers to choose a charity to donate their premiums to. Lemonade donates any money remaining to that charity.
- Transparency with customers and no fancy jargon. Lemonade uses AI to cover most of their customer service. Using technology provides quick and instant access to coverage.
- Quote and purchase process are very fast---website is easy to use and intuitive.
- Low-cost policies starting at $25.
- A live agent is difficult to reach.
- Few discounts offered compared to competitors.
|J.D. Power (out of 1,000)||870|
|NAIC Complaint Index||1.94|
Allstate: Best Home Insurance For Local Agents and Discounts
- Available in 50 states & Washington, D.C.
- Quote access: Online & by phone
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. Still, the true prize is that Allstate has an incredible network of agents that understand the nuances of their areas and the 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.
Like most large national insurance companies, Allstate has some advantages that they can pass on to their customers, such as offering them many different discounts they may qualify for and helping them save extra money on their premiums.
Read a full Allstate homeowners insurance review.
Allstate Homeowners Insurance Coverage
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.
- 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.
- 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 Homeowners Insurance Discounts
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.
Allstate Homeowners Insurance Pros & Cons
- Well-recognized national company with financial stability.
- Large network of agents.
- Many discount opportunities.
- Great customer reviews for their independent agents.
- Standard coverage may not be as extensive as other insurance carriers.
- It may be hard to distinguish between Allstate-attached agents and independent agents who work with Allstate, which are preferable to Allstate's own agents.
- Decent but not rave reviews overall for policies and payouts.
|J.D. Power (out of 1,000)||815|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||2.05|
Amica: Best Overall Homeowners Insurance
- Available in 48 states & Washington, D.C.
- Quote access: Online & by phone
Amica insurance 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.
Top agencies and organizations, including the Better Business Bureau, J.D. Power, and the U.S. credit rating agency, A.M. Best highly rate Amica.
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.
Amica Homeowners Insurance Coverage
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.
- 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.
- 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
Amica Homeowners Insurance Discounts
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.
Amica Home Insurance Pros & Cons
- Excellent customer support.
- Provides competitive rates.
- No reward program for loyal customers.
|J.D. Power (out of 1,000)||849|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||0.32|
Travelers: Best Home Insurance Company with the Most Experience
- Multi-Policy Discount.
- Loss-Free Discount.
- Protective Device Discount.
Travelers is one of the oldest and most established insurance companies in the United States, with a history that dates back to 1864. Over the years, the company has gained extensive experience in providing customers with home insurance coverage.
Travelers' home insurance policies are designed to protect homeowners from a wide range of risks, including damage to the home and personal property caused by covered perils such as fire, theft, and certain types of natural disasters. The policy also provides liability coverage, which can help protect homeowners from legal claims related to property damage or injury that occurs on their property.
Travelers is known for its comprehensive coverage options and flexible policy customization, allowing customers to tailor their coverage to their specific needs. With a strong financial foundation and a commitment to exceptional customer service, Travelers has earned a reputation as a reliable and trustworthy provider of home insurance coverage.
Travelers Homeowners Insurance Coverage
If purchasing a home insurance policy with Travelers, you will receive a decent amount of 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.
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.
Travelers Homeowners Insurance Discounts
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.
Travelers Home Insurance Pros & Cons
- 24/7 claims center.
- Coverage of up to $10,000 for medical payments.
- Savings for not having any claims or being a new homebuyer.
- Reportedly takes a while to pay claims.
- There is no additional wind damage coverage option.
|J.D. Power (out of 1,000)||794|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||3.88|
New Jersey Manufacturers Insurance: Best for Most Endorsements
Previously, New Jersey Manufacturers Insurance (NJM) was only available to members of certain groups. However, in 2018, NJM expanded its services to provide auto, renters, homeowners, and umbrella insurance to individuals living in New Jersey, Connecticut, and Pennsylvania without any membership restrictions.
Unlike traditional insurance companies that use agents to sell their policies, NJM sells policies directly to customers through phone and online channels. As a stock company, NJM pays dividends and premium credits to policyholders in New Jersey. It's important to note that while these payments are not guaranteed, NJM has a strong financial foundation and has a history of paying out dividends and premium credits to its policyholders.
Additionally, NJM offers more endorsements than most competitors, that provide extra coverage for homeowners in New Jersey, such as water backup and sump pump failure, equipment breakdown, and identity theft. These endorsements give customers the flexibility to customize their coverage and ensure they have the protection they need.
NJM Homeowners Insurance Coverage
NJM provides all of the basic coverage for homeowners.
- 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.
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.
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 Homeowners Insurance Discounts
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
NJM Homeowners Insurance Pros & Cons
- Possible dividend payments for those living in NJ.
- Easy-to-use website.
- High level of customer satisfaction.
- Many add-ons available for policy customization.
- Many discounts available.
- There is no mobile app to manage policies.
|A.M. Best Financial Strength||A+|
|NAIC Complaint Index||0.05|
Cumberland Mutual: Best for Fast Claims Support
Cumberland Mutual, the oldest casualty and mutual property business in New Jersey, has been providing insurance to customers since 1844. They offer a range of insurance options, including renters, auto, homeowners, and umbrella insurance. Cumberland Mutual is known for its fast claims support, which customers can access through their online claim-filing system or their emergency after-hours claims hotline.
If you prefer to deal with people face-to-face, Cumberland Mutual prioritizes building relationships with its customers. However, they also provide convenient online services for those who prefer to manage their insurance digitally.
Cumberland Mutual Homeowners Insurance Coverage
Cumberland Mutual offers the following with their standard home policy.
- 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.
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.
Cumberland Mutual Homeowners Insurance Discounts
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.
Cumberland Mutual Home Insurance Pros & Cons
- 24/7 claims hotline.
- Great value for standard homeowners insurance which provides extra coverage not offered by most competitors.
- Does not offer an online quote tool.
- Not a lot of endorsements or policy add-on options.
|A.M. Best - Financial Strength Rating||A-|
Selective Insurance: Best for Low-Cost Homeowners Insurance
Founded in 1926 by Daniel L.B. Smith following a horse and buggy accident, Selective Insurance provides personal, business, and flood insurance. With headquarters located in Branchville, New Jersey, the company has a nationwide presence. In fact, Selective Insurance is one of the largest providers of flood insurance in the United States. In addition to flood coverage, customers can also receive personal and business protection from Selective Insurance.
Selective Insurance is a leading provider of insurance services and expertise for homeowners across the United States. The company offers a range of options and discounts, including different tiers of homeowners insurance, to ensure that customers can find coverage that meets their needs and budget.
Selective Homeowners Insurance Coverage
As mentioned before, Selective offers tiers of homeowners insurance starting with 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.
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.
Builds on Summit Classic by upping limits for business property, includes personal computer coverage and identity fraud protection, and much more.
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 is the highest level of Selective homeowners coverage and is designed namely for high-valued properties.
Selective Homeowners Insurance Discounts
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.
Selective Insurance Home Insurance Pros & Cons
- Low insurance premiums.
- Provides flood insurance.
- Does not offer an online quote tool.
- Not accredited with the Better Business Bureau.
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||1.24|
USAA Home Insurance: Best for Veterans
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. USAA will work with you to customize your coverage at a reasonable rate.
Coverage includes most weather-related circumstances, liability, theft, and more. 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.
USAA Homeowners Insurance 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 Homeowners Insurance Discounts
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.
USAA Homeowners Insurance Pros & Cons
- Standard policy includes more coverage than most companies.
- Available nationwide.
- You can use the mobile app to file claims, check on your coverage, and more.
- Limited amount of discounts.
- Available exclusively to military, veterans, and their families.
- Does not use local agents.
|J.D. Power (out of 1,000)||882|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||0.88|
Franklin Mutual: Best for New Homeowners
Franklin Mutual creates custom policies with their customers to cater to their needs for fast and easy protection.
Franklin Mutual is great for new homeowners who prefer a clear and convenient breakdown from their agent rather than fancy jargon. 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 to repair or rebuild your home, you may be eligible for Franklin Mutual to pay up to 150% of your limit.
Franklin Mutual Homeowners Insurance 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.
Franklin Mutual Homeowners Insurance Discounts
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.
Franklin Mutual Home Insurance Pros & Cons
- Customizable coverage options.
- Friendly and attentive customer service.
- Offers FMI Home Assist app that helps homeowners improve home safety and avoid costly claims.
- New Jersey-focused Mutual company can mean better service and loyalty to its policyholders.
- Not accredited with the BBB.
- Does not offer an online tool for quotes.
- Website is not very informative--speaking with an agent is recommended to figure out how much coverage you need.
|A.M. Best - Financial Strength Rating||A+|
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 fire, lightning, wind, or hail. If you cannot 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.
Learn more about homeowners insurance fire coverage.
|Type of Policy||Policy Description|
|Medical payments (to others)||If someone hurts themself on your property, your home insurance policy will pay a limited amount of their medical bills.|
|Personal liability||Pays for medical bills, repair, or replacement costs if you are held responsible for physically hurting someone or damaging their personal belongings. Personal liability also handles legal fees if someone sues you.|
|Other structures||Covers structures not adjoined to your home. This includes sheds, fences, and detached garages.|
|Dwelling||Covers expenses to rebuild your home including: cabinets, flooring, and exterio/interior walls.|
|Loss of use||If your property suffers any damages causing you to move while repairs are being done, then you can receive reimbursements while you are temporarily living elsewhere.|
|Personal property||Covers the cost to replace any material items if you experience a break-in or fire.|
Which Additional Policies Should You Consider Purchasing?
While New Jersey is not extremely susceptible to hurricanes, Hurricane Sandy changed the minds of 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.
Many standard home insurance policies cover wind damage, but almost none include flooding coverage from a weather event. If you live near the coast or have a basement prone to flooding, then you should look into flood insurance to protect your assets. Moreover, many areas of New Jersey, even far from the coast, are still prone to flooding, even from heavy rain storms.
If your home insurance company 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.
How We Ranked & Picked the Best Homeowners Insurance Companies in New Jersey
Choosing home insurance companies that provide different types of perks is important.
We were particular in including a homeowners insurance policy specific for veterans to raise awareness of the different types of benefits available.
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 on 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.
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.
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.
We've done our research and discovered that the best place to buy home insurance in New Jersey is Newark, NJ.
We researched rates for counties all over the state as well as cities such as Bergen County, Middlesex County, Essex Country, Hudson City (NJ), Monmouth County Ocean City.
As you can see from these graphs on average prices of homeowner's policies across major population centers it was found that Newark had lower than typical prices when compared with other large cities like Paterson or Lakewood; this trend also held true even if we narrowed down the search by county!
This really shows how competitive a residential property market should be where there are many affordable options available among top-rated insurers.