Homeowners Insurance in NJ

Having the best homeowners insurance in New Jersey is a great way to protect your investment. But just how much does homeowners insurance cost in this state? NJ homeowners pay an average cost of $793 for $250,000 of dwelling coverage, less than the nationwide average cost of homeowners insurance.

Coverage Options for Homeowners Insurance in NJ

  • Flooding: According to the non-profit foundation known as Flood Factor, New Jersey has over 500,000 properties with a 26% chance of heavy flooding within the next 30 years. As a homeowner, it is recommended to check and make sure whether or not flood insurance is required in your area. Flooding is not a standard for Homeowner’s Policy which is why it may be best to check whether or not it’s required. 
  • Sewage Backup: excessive snowmelt or rain can overwhelm the capacity of sewer pipes which could lead to an overflow of stormwater and untreated sewage. Consider sewage backup treatment to offer financial protection in the event you are faced with sewage backup and standing water in your home. 
  • Identity Theft: In 2020, the highest portions of filed reports were for identity theft. With financial crime rising through identity theft, a homeowners insurance NJ best option would be to add Identity theft coverage to their homeowner’s insurance policy.

Common factors of loss in New Jersey

Some common causes of property losses that are generally seen with NJ home insurance claims include:

High Winds – high-wind events that occur in New Jersey can lead to power outages and other problems. It is best to protect yourself, and others in your home, financially when dangerous winds strike. 

Snowfall – New Jersey is a snowier area than about 26 other states in the country. Snow can create basement floods as well as water damage to your property. 

Wildfires – People who occupy more wooded and rural areas within the garden state are more likely to be impacted by wildfires. An average of 1,500 wildfires cause damage to homes and forests that are near them. This is also true for people who live in the more northern part of the state or in the Pine Barrens region. Fires spread very quickly in this location due to dry underbrush.  

Storms and Hurricanes – Home insurance losses due to wind and water damage are common for a coastal state in the line of Hurricanes moving up the east coast. If you are a New Jersey resident, you can check out FEMA’s Flood Map and Service Center to see if you live on a flood plain and whether or not you need flood insurance. If you need help in preparing for a hurricane, your best option is to consult a disaster preparedness guide to make sure you’re fully stocked with necessary goods and understand the importance of proper evacuation time.

You may want to be aware that homeowners insurance companies in New Jersy may take into consideration specific variables which determine the cost of your policy which include:

  • Building costs in your area
  • The size of your home
  • Geographics
  • catastrophes such as hurricanes

Available discounts for homeowners insurance

Discounts that trim down the most from your home insurance cost usually relate to the age of your home as well as building materials, roof condition, security system type, and payment methods.

These discounts include:

  • Age of home (five years or less
  • Home and auto bundle
  • New home construction
  • The multitude of Upgrades (heating, plumbing, electric)
  • Construction Type (fire-resistive, superior)
  • Roof upgrade
  • Advance Purchase
  • Loyalty


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