Best & Cheapest Homeowners Insurance in Jersey City, NJ April, 2024

Homeowners in Jersey City can find the most affordable home insurance option with Chubb, offering an average annual quote of $920.

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Bob Phillips
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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.

As indicated below, homeowners insurance rates in Jersey City are lower than both the national average and the average rate for the state of New Jersey.

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.

For instance, your individual driving history is crucial; having a record of traffic violations or accidents usually leads to higher premiums compared to having a clean record. The type and model of your vehicle also play a role, as high-performance or luxury cars often come with higher insurance costs.

Moreover, where you live can affect rates, with densely populated urban areas generally having higher premiums due to increased risks like theft or accidents. Additionally, factors such as age and marital status can impact your car insurance premiums.

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.

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Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

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

For homeowners with a history of claims, USAA provides an affordable solution, with an average annual rate of $1,652.

Insurance Company Average Annual Premium
USAA $1,652
State Farm $1,692
Progressive $1,703
National General $1,912
Farmers $3,177

A history of claims can suggest higher risk for insurers, which usually leads to higher premiums. However, USAA believes in giving individuals with past claims a second chance and offers reasonable rates to accommodate them.

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.

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