Affordable Homeowners Insurance

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Cheap Homeowners Insurance in New Jersey

Whether you own an oceanfront house along the Jersey Shore or a multi-family home in Newark, you need the right homeowners insurance to protect what matters most. Mercury Insurance makes it simple to get reliable coverage at an affordable rate. Learn more about our New Jersey homeowners insurance and get a fast, free quote today.

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What New Jersey Homeowners Insurance Covers

When selecting homeowners insurance for your New Jersey home, you must understand the available coverage options. Mercury Insurance offers comprehensive protection that can align with your needs, including:

  • Dwelling protection: This coverage protects your home’s structures against perils such as windstorms, hurricanes, and fires. In New Jersey, dwelling protection is crucial due to the diverse weather conditions, including potential coastal risks.
  • Personal property: This coverage safeguards your belongings against risks like theft, fire, or vandalism. This is particularly important in urban areas where property crimes may be a concern.
  • Extended replacement cost: This coverage helps provide adequate financial protection to rebuild your home following a covered loss, even if construction costs have increased.
  • Additional living expenses: If your home becomes uninhabitable due to a covered loss, this coverage helps provide temporary accommodation, meals, and other necessary living expenses.
  • Personal liability protection: This coverage protects you in case you cause bodily injury or property damage to another party, helping with legal expenses and potential settlement.
  • Guest medical protection: If a guest gets injured on your property, this coverage helps pay for their medical expenses.

Contact us today for a fast, free quote!

What Factors Determine Your Homeowners Insurance Rate?

Insurance providers in New Jersey consider various factors to determine your risk profile, which influences your homeowners insurance rate. The higher your risk profile, the more you can expect to pay. Understanding the specific considerations that insurers consider can help you navigate the factors influencing your insurance premiums in the Garden State.

  • Age and condition — Older homes with outdated plumbing, electrical, or HVAC systems often pose higher risks, potentially leading to increased insurance costs. Insurers account for the additional challenges and costs of maintaining and repairing older properties.
  • Replacement cost — The replacement cost of a home is a key determinant in establishing insurance rates. The more it costs to replace your home, the higher the insurance rate.
  • Location — Living in an area with a high crime rate or susceptibility to natural disasters, such as blizzards or hurricanes, may increase homeowners insurance premiums.
  • High-risk home features — Certain home features, such as swimming pools, trampolines, or wood-burning stoves, can increase insurance rates because they pose potential hazards, and insurers adjust premiums to account for the increased likelihood of claims related to accidents or damage caused by these features.
  • Credit history — Insurers often interpret a poor credit score as an indicator of potential late payments and a higher likelihood of filing claims. You may face higher insurance rates if you have a less-than-ideal credit history.
  • Dog breed — The type of dog you own can impact insurance rates, especially if it falls under the category of "aggressive breeds," such as Rottweilers, German shepherds, or pit bulls. New Jersey insurers consider the potential risks associated with certain dog breeds, adjusting rates accordingly to mitigate liability concerns.

How to Reduce Your Homeowners Insurance Rate

The average cost of homeowners insurance in New Jersey is approximately $886 per year1. While this rate is nearly half as cheap as the national average, there are still plenty of ways you can maximize your savings in the Garden State. Consider some of these strategies to help reduce your homeowners insurance rate2.

  • Raise your deductible — Consider raising your deductible to help lower your premium since opting for a higher deductible could result in a more affordable insurance rate. However, be mindful that a higher deductible means increased out-of-pocket costs if you need to file a claim. Assess your financial situation and strike a balance that aligns with your budget.
  • Improve your credit — New Jersey insurers often use credit scores to determine homeowners insurance rates. Focus on improving your credit to potentially secure lower premiums. Timely bill payments, disputing errors on your credit report, and reducing revolving account balances are effective strategies.
  • Talk with your local insurance agentYour local agent will tailor coverage to meet the state’s specific challenges, from considerations related to coastal risks to the varying crime rates in urban and suburban settings. Talk with them today to ensure you get the coverage you need at an affordable price.
  • Bundle home and autoBundling your homeowners and auto insurance policies can often result in discounted rates. Discuss bundling options with your local agent to maximize savings without compromising coverage.
  • Review and update your policy regularly — Review your policy annually or whenever significant changes occur in your life or home. This can ensure you're not overpaying for coverage you no longer need or underinsured for new additions or improvements.

Mercury offers affordable homeowners insurance without sacrificing quality support and service. Talk with an agent today to help you find cheap homeowners insurance.

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*Individual savings may vary.

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Save More with Discounts

Mercury provides robust coverage for your New Jersey home and various discounts that can lower your homeowners insurance rates. By leveraging these discounts, you could potentially save hundreds of dollars annually. Explore the following opportunities to maximize your savings:

  • Home safety discounts — Enhance your home's safety by installing protective devices such as smoke detectors, burglar alarms, or leak detectors. Taking this proactive approach ensures the well-being of your loved ones and can reduce your insurance premiums.
  • Homeowners association discount — If your property is part of a homeowners association, you might be eligible for a discount.
  • Newer home discount — Enjoy a discount if your home was constructed within the last 10 years preceding your policy's effective date. Newer homes often have modern building materials and safety features, making them less prone to certain risks.
  • Wildfire mitigation discount — If your residence is located in a wildfire-prone area, you might be eligible for a discount if you take precautions and implement measures that reduce the risk of wildfire damage.
  • Multi-policy discount — Bundle your home and auto insurance policies and enjoy a multi-policy discount. Combining coverage can also help streamline your insurance management.

Mercury Insurance offers excellent coverage at an affordable price for your New Jersey home. Talk with an agent today for a fast, free quote!

Your Questions About NJ Home Insurance Answered

Who has the cheapest homeowners insurance in NJ?

Insurance rates can vary based on location, home value, and other risk factors. Additionally, rates are subject to change, and it's essential to obtain personalized quotes. However, it’s hard to beat the affordability and quality coverage you get when choosing Mercury. Contact your local agent today for a fast, free quote.

What is the average cost of NJ home insurance?

According to Policy Genius, the average cost of homeowners insurance in New Jersey is approximately $886 per year.

What Mercury Insurance products are available to NJ residents?

Is it illegal to not have homeowners insurance in NJ?

No, it’s not illegal to not have homeowners insurance in New Jersey. However, many mortgage lenders require you to have homeowners insurance as a condition of the mortgage agreement.

What is the cheapest home and auto bundling in NJ?

The cost of bundling home and auto insurance will depend on various factors, including your location, coverage needs, driving history, and the specifics of your home. Mercury offers a great home and auto bundle that can provide significant savings on your insurance. Contact your local agent today for a fast, free quote.