New Jersey Homeowners Insurance Coverage
From coastal Cape May to urban Newark, your New Jersey home is your haven. A Farmers Smart Plan Home® policy can help you protect it, with discounts offering many ways to save.
Is homeowners insurance mandatory in New Jersey?
No, homeowners insurance is not required by law in New Jersey. However, in order to get a home loan, your mortgage lender will likely require you to obtain a certain amount of insurance coverage.
How much does homeowners insurance generally cost in New Jersey?
The average premium for home insurance coverage in New Jersey is $1,277 per year1, according to a 2020 report (the most recent data available) by the National Association of Insurance Commissioners (NAIC). That’s about the same as the national average of $1,311 a year, according to same report. However, insurance costs in most states have changed since then. Also, the amount you pay may be different depending on things like the value and age of your home, how much personal property you want to cover, what deductible you choose and risks specific to your area.
What does homeowners insurance cover in New Jersey?
Every policy is different, but home insurance policies in New Jersey typically come with several standard coverages.
- Dwelling (Coverage A). This coverage helps you pay for damage to your home from a covered event, such as a fire, windstorm, lightning or hail.
- Other structures (Coverage B). This coverage is intended to help cover structures that aren’t connected to your home, like a fence or shed.
- Personal property (Coverage C). This coverage helps you repair or replace your personal belongings if they are stolen or damaged.
- Loss of use, or additional living expense coverage (Coverage D). This coverage can help you pay to stay somewhere else if your home is uninhabitable due to covered damage.
- Personal liability (Coverage E). This coverage helps pay for accidental property damage or injuries you cause through negligence.
Typical home insurance policies in New Jersey cover damage caused by events such as:
- Fire
- Vandalism and theft
- Lightning strikes
- Wind
- Hail
- Explosions
- Falling objects
- The weight of snow or ice
Flooding, a risk in parts of New Jersey, is not covered. However, special flood insurance through the National Flood Insurance Program (NFIP) may be available.
Home insurance coverage options in New Jersey
Farmers® gives you multiple options for covering your home and things you keep in it. You can customize your policy to suit your lifestyle and dwelling type:
- Single-family home
- Condo
- Mobile or manufactured
- Seasonal or vacation
- Rental property
- Older home
New Jersey home insurance discounts
Farmers® offers a variety of savings opportunities for eligible home insurance customers in New Jersey, including:
- Multi-policy
- Protective devices
- Non-smoker
See more information and additional discounts that may be available in New Jersey.
Eastern Goldfinch
More coverage options in New Jersey
Learn From Experience
Learn more about homes — and how to protect them — with these real-life stories from homeowners and pros.
Most typical homeowner policies won’t provide full coverage for the property once it’s been vacated. Vacant home insurance can be purchased to help.
A blizzard left one couple and their newborn with no heat, lights or food — for days. They talk about how they survived and what they’re doing to be ready when the next blackout hits.
You’re not the first person I’ve talked to who has lost a wedding ring — depending on your homeowners insurance policy, the loss could be covered.
1 Based on average premium for HO-3 type open perils homeowners policies.