Affordable Home Insurance in New Jersey
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What drives home insurance rates in New Jersey
Average homeowners premium, 2023
$1,551
The average homeowners policy in New Jersey cost $1,551 for a year of coverage in 2023, against $1,737 nationally.
Claims paid per premium dollar, 2023
59.8¢
Home insurers in New Jersey paid 59.8 cents in claims for every premium dollar in 2023; the median state was 64 cents.
Severe weather events, 2024
67
NOAA logged 1 tornado, 4 large-hail and 62 flash-flood event reports in New Jersey in 2024, counted per county or zone. Wind and hail claims fall on the homeowners policy; flood needs its own.
Natural-hazard loss rank
#13
FEMA ranks New Jersey #13 of 51 for expected annual loss from natural hazards; flood accounts for 66% of that loss, and flood damage needs a separate flood policy.
- Average homeowners premium, 2023: NAIC Homeowners Insurance Report, 2023 data
- Claims paid per premium dollar, 2023: NAIC Profitability by Line by State, 2023
- Severe weather events, 2024: NOAA Storm Events Database, 2024
- Natural-hazard loss rank: FEMA National Risk Index
Largest home insurers in New Jersey
The ten insurer groups that wrote the most home premium in New Jersey in 2025, with their share of the state total of $4.6 billion.
| # | Insurer group | Market share | Premiums written |
|---|---|---|---|
| 1 | New Jersey Manufacturers Group | 13.49% | $623 million |
| 2 | State Farm Group | 10.75% | $496 million |
| 3 | Allstate Insurance Group | 10.5% | $485 million |
| 4 | American Family Insurance Group | 6.67% | $308 million |
| 5 | Travelers Group | 6.31% | $291 million |
| 6 | Liberty Mutual Group | 5.27% | $243 million |
| 7 | Chubb Ltd Group | 4.92% | $227 million |
| 8 | United Services Automobile Association Group | 4.24% | $196 million |
| 9 | Palisades Group | 4.13% | $191 million |
| 10 | Farmers Insurance Group | 2.54% | $117 million |
Source: NAIC Market Share Reports, 2025 data, direct premiums written by insurer group. GEICO writes inside Berkshire Hathaway Group. Ranking is market commentary; it says nothing about which carriers a quote comparison includes.
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