New Jersey home insurance

Every figure below is sourced and dated. Estimates only — not quotes, and not offers of coverage.

Home insurance premium estimator

What homeowners insurance costs in your state, and whether what you pay is out of line.

Is your dwelling coverage actually enough to rebuild — and what a shortfall costs at claim time.

What a higher deductible really saves, how long it takes to pay off, and what a storm deductible actually costs.

Did your renewal go up more than premiums did across your state — and what to do about it.

All six limits on your policy against what the standard form and regulators say to expect — including the liability limit nobody looks at.

Average premium: $1,367/ yr; At $300,000 of dwelling coverage.
Standard deductible: $1,000; Applies to everyday claims.
Storm deductible — separate, and much larger: $6,000(2% of coverage); What you would pay out of pocket on $300,000 of coverage before a storm claim pays anything — not the $1,000 above.
Insurer of last resort: New Jersey Insurance Underwriting Association (NJ FAIR Plan); Created by the New Jersey Legislature in 1968 as the state's FAIR Plan. Writes basic property coverage on homes, mobile homes, rental units and most commercial buildings for owners who cannot get coverage in the voluntary admitted market -- typically after being declined by standard carriers. Coverage is deliberately narrow: it is fire, lightning and extended coverage (wind is included as an extended-coverage peril, which is why it matters at the Shore), and it does NOT include theft or personal liability, so a FAIR Plan policy alone leaves real gaps a private HO-3 would fill. Insurable value limit is up to $5 million per property. A homeowner may apply directly or through any licensed agent.