Best & Cheapest Homeowners Insurance in Jersey City, NJ May, 2024
Homeowners in Jersey City can find the most affordable home insurance option with Chubb, offering an average annual quote of $920.
After conducting a comprehensive assessment of home insurance providers in Jersey City, New Jersey, Chubb stands out as the most budget-friendly option, with an average yearly rate of $920. However, it’s important to note that the best insurer can vary depending on your specific circumstances and needs.
For instance, if you own a newly built home, State Farm offers the most cost-effective solution at $868 per year. Conversely, if you have an older home, State Farm provides competitive rates of $1,147 annually along with comprehensive coverage.
On the other hand, if your credit score has been negatively impacted, Chubb provides the most economical choice with an average annual premium of $1,556. For individuals with a history of claims, USAA offers an affordable and accommodating option at $1,625 annually.
Furthermore, if you have valuable personal belongings that need protection, State Farm once again proves to be a top choice, offering extensive coverage at a reasonable rate of $1,192 per year.
Our thorough analysis at Insuranceopedia aims to help you find the perfect fit for your home insurance needs. By comparing customer ratings, evaluating personal experiences, and presenting comparison charts, we strive to provide you with all the necessary information to make a well-informed decision.
How much is homeowners insurance in Jersey City, NJ?
In Jersey City, New Jersey, Chubb offers the most affordable homeowners insurance rate, priced at $920 per year.
| Area | Average Monthly Rate |
| National | $1,820 |
| New Jersey | $1,256 |
| Jersey City | $1,245 |
It’s important to recognize that insurance rates aren’t uniform; they can vary significantly based on various factors.
Cheapest Homeowners Insurance in Jersey City, NJ
Our Methodology
To identify the most affordable home insurance rates in Jersey City, we conducted an analysis using data from various home insurance review platforms. Some of these platforms evaluated rates obtained from public filings acquired by Quadrant Information Services. We calculated an average of these rates for this review. However, it's crucial to note that the rates offered by each company can fluctuate regularly and may vary depending on your specific circumstances. Additionally, our comprehensive rating takes into account my subjective opinion, based on fifteen years of experience as a licensed insurance agent and over three decades of buying home insurance.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
Cheapest Homeowners Insurance in Jersey City, NJ
Chubb is distinguished as the most budget-friendly option for homeowners insurance in Jersey City, New Jersey, with an average annual rate of $920.
| Company | Annual Premium |
| Chubb | $920 |
| Travelers | $940 |
| State Farm | $1,147 |
| Allstate | $1,233 |
| USAA | $1,258 |
The price of your insurance policy is determined by various factors such as where you live, the value of your home, and your claims history. Chubb offers a well-rounded combination of affordability and comprehensive coverage.
Cheapest Homeowners Insurance If You Have an Older Home
State Farm provides the most affordable rates for older homes, averaging $1,147 per year.
| Insurance Company | Average Annual Premium |
| State Farm | $1,147 |
| USAA | $1,137 |
| Farmers | $1,310 |
| Progressive | $1,342 |
Older homes often have distinct risks and maintenance challenges that can lead to higher insurance costs. However, State Farm offers competitive rates and comprehensive coverage specifically designed to address the unique needs of older homes.
Cheapest Homeowners Insurance for Newly Constructed Homes
State Farm offers the most cost-effective option for newly constructed homes, with an average annual rate of $868.
| Insurance Company | Average Annual Premium |
| State Farm | $868 |
| USAA | $895 |
| Allstate | $1,120 |
| MetLife | $1,137 |
| Farmers | $1,730 |
Newly constructed homes typically require different coverage compared to older ones, and State Farm is known for offering affordable policies tailored to these specific requirements.
Cheapest Homeowners Insurance If You Have Poor Credit
If you have a poor credit score, Chubb offers the most affordable solution, with an average annual rate of $1,556.
| Insurance Company | Average Annual Premium |
| Chubb | $1,556 |
| Progressive | $1,710 |
| State Farm | $1,907 |
| USAA | $1,934 |
| Farmers | $2,430 |
Your credit score can have a significant impact on your insurance rates as insurers use it to assess risk. Chubb understands the importance of providing fair coverage to all individuals, irrespective of their financial history.
Cheapest Home Insurance for a History of Claims
| Insurance Company | Average Annual Premium |
| USAA | $1,652 |
| State Farm | $1,692 |
| Progressive | $1,703 |
| National General | $1,912 |
| Farmers | $3,177 |
Cheapest Home Insurance Rates for Lots of Personal Property
If you own a significant amount of personal property, State Farm offers the most affordable rates, averaging $1,192 annually.
| Insurance Company | Average Annual Premium |
| State Farm | $1,192 |
| USAA | $1,298 |
| Allstate | $1,384 |
| MetLife | $1,551 |
| Homesite | $1,960 |
As the value of your personal property increases, your coverage needs may also rise, which can lead to higher premiums. However, State Farm offers comprehensive coverage at reasonable rates, ensuring that all your belongings are adequately protected.
Best Homeowners Insurance Companies in Jersey City, NJ
Choosing the correct homeowners insurance isn’t just important; it’s a strategic choice. With Jersey City’s rich history, its homes are as unique as its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates is crucial.
To streamline your decision-making process, we’ve created a list of the top homeowners insurance companies in Jersey City, New Jersey. These companies have been assessed based on criteria such as annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Take a look at our comparison chart below to find the perfect match for your home insurance needs.
| Company | Annual Premium | |
| 1. | Chubb | $920 |
| 2. | Travelers | $940 |
| 3. | National General | $1,070 |
| 4. | State Farm | $1,147 |
| 5. | Allstate | $1,233 |
| 6. | USAA | $1,258 |
| 7. | Progressive | $1,203 |
| 8. | Metlife | $1,406 |
Average Home Insurance Rates by Zip Codes
Home insurance prices in Jersey City, NJ can vary widely depending on the zip code. Here are tables that show the rates for different zip codes in Jersey City, including the least and most expensive ones for annual home insurance premiums.
| ZIP Code | Average Insurance Premium (Annual) |
| 07302 | $1,016 |
| 07306 | $1,033 |
| 07307 | $1,028 |
| 07310 | $1,029 |
| 07311 | $1,060 |
| 07304 | $1,042 |
Cheapest Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 07310 | $1,029 |
| 07305 | $1,019 |
| 07302 | $1,016 |
| 07303 | $1,018 |
| 07307 | $1,028 |
Most Expensive Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 07311 | $1,060 |
| 07304 | $1,042 |
| 07306 | $1,033 |
| 07308 | $1,348 |
| 07301 | $1,399 |
Average Home Insurance Rates in Jersey City, NJ by Deductible Amount
The deductible amount you select for your homeowners insurance policy can greatly affect premium rates in Jersey City, NJ. Here’s how average home insurance rates vary based on different deductible amounts:
| Deductible Amount | Average Annual Premium |
| $500 | $1,089 |
| $1,000 | $933 |
| $1,500 | $889 |
| $2,000 | $820 |
Average Home Insurance Rates in Jersey City, NJ By Coverage Amount
A critical aspect that influences your premium is the dwelling coverage amount. This figure indicates the maximum amount your insurance provider will pay to rebuild or repair your home in case of damage or destruction.
Here’s a comparison chart displaying the average annual premiums for homeowners insurance based on different dwelling coverage amounts:
| Dwelling Coverage Amount | Average Annual Premium |
| $200,000 | $770 |
| $250,000 | $904 |
| $300,000 | $1,036 |
| $350,000 | $1,199 |
| $400,000 | $1,307 |
Average Home Insurance Rates in Jersey City, NJ by Company
Here is a comparison of annual premiums from leading insurance providers in Jersey City.
| Company | Annual Premium |
| Chubb | $920 |
| Travelers | $940 |
| National General | $1,070 |
| State Farm | $1,147 |
| Allstate | $1,233 |
| USAA | $1,258 |
| Progressive | $1,203 |
| Metlife | $1,406 |
How Much is Homeowners Insurance for Other Cities in Jersey City?
Here is a comprehensive comparison chart displaying the most affordable annual premiums across different areas in Jersey City.
| City | Annual Premium |
| Newark | $1,365 |
| Hoboken | $1,263 |
| Atlantic City | $2,370 |
| Trenton | $1,398 |
Getting Online Homeowners Insurance Quotes in New Jersey
With informative platforms like Insuranceopedia, finding the ideal coverage for your specific needs is just a few clicks away. By providing quick online quotes from multiple top-rated insurers, Insuranceopedia enables you to easily compare rates.
Simply input your details, and we’ll handle the rest by presenting you with a variety of options tailored to your requirements. This allows you to confidently select a policy that provides the best value, striking a balance between cost and comprehensive coverage.
FAQs
Who has the cheapest home insurance in Jersey City, NJ?
Chubb provides the most affordable home insurance option in Jersey City, New Jersey, with an annual premium of $920.
What is the average cost of home insurance in Jersey City, NJ?
On average, homeowners insurance in Jersey City, New Jersey typically costs approximately $1,245 annually.
