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The average cost of home insurance in Jersey City, New Jersey, ranges between $730 to $990. It is important for Jersey City homeowners to choose the policy coverage and home insurance company that best suits their needs. vHome Insurance has curated a list of the top 5 home insurance companies in New Jersey according to the market share of each company.

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State Farm

State Farm occupies the largest market share in New Jersey with 10.67%. It has written direct premiums worth $295,259 and has earned direct premiums worth $292,581. State Farm holds a financial strength rating of A++ from A.M. Best for its superior financial capacity to grant potential claims of current Jersey City policyholders. It also received a customer satisfaction score of 4/5 from J.D. Power based on the feedback collected from policyholders.

Allstate

Allstate comes second to State Farm in terms of market share, occupying 9.18% of the home insurance market in the state. Allstate has written direct premiums of $254,081 and earned direct premiums of $250,661. Allstate has the superior financial ability in granting potential claims of current Jersey City policyholders and has been awarded a rating of A+ from A.M. Best. It received a customer satisfaction score of 3/5 from J.D. Power’s customer feedback survey.

Liberty Mutual

According to NAIC, Liberty Mutual holds a market share of 8.79% in New Jersey. The home insurance company has direct premiums written worth $243,324, and direct premiums earned worth $241,132. A.M. Best rated Liberty Mutual with an A for its excellent ability to grant potential claims of current policyholders. In terms of overall customer satisfaction, Liberty Mutual received a score of 3/5 from J.D Power.

Chubb

Chubb is another major player in the home insurance segment with a market share of 6.61%. It has direct premiums written worth $183,071, and direct premiums earned worth $185,333. Chubb has received a financial strength rating of A++ from A.M. Best and a customer satisfaction score of 2/5 from J.D. Power.

Travelers

Travelers occupies a market share of 5.07% with direct premiums written and earned worth $140,220 and $136,334, respectively. Travelers has the superior financial ability in granting potential claims of current Jersey City policyholders and has been awarded a rating of A++ from A.M. Best. It received a customer satisfaction score of 2/5 from J.D. Power.