We used information about salaries, the health of the company’s finances, and the number of different types of employees to find the best insurance companies in New Jersey. You can also search for the best insurance companies to work for in any other state or city.
Jersey City, located just across the Hudson River from Manhattan, is New Jersey’s second largest city with a population of over 260,000. As a major urban center in the New York City metropolitan area, Jersey City has a thriving insurance market serviced by national, regional and local insurance carriers.
In this article, I will discuss the top 10 insurance companies operating in Jersey City and provide an overview of each company’s services, financial strength, customer satisfaction ratings and average insurance rates. My goal is to educate Jersey City residents about their local insurance options so they can make an informed decision when purchasing coverage.
How I Selected the Top 10 Insurance Companies in Jersey City
To compile this list. I analyzed insurance companies based on the following criteria
- Availability of coverage – I only included companies that offer home auto life, business and other common insurance products to Jersey City residents.
- Financial strength ratings – I looked at ratings from A.M. Best and only chose companies rated A- or higher for excellent financial strength.
- NJ market share data – I referenced NJ market share statistics to identify leading home and auto insurers in the state.
- Customer satisfaction – I consulted J.D. Power claims satisfaction scores and customer satisfaction ratings where available.
- Competitive pricing – I compared estimated quotes for benchmark policyholder profiles in Jersey City to identify companies with lower pricing.
After careful evaluation, these are the top 10 homeowners insurance companies available in Jersey City:
1. State Farm
- Offers home, auto, life, condo, renters, business insurance and more
- A.M. Best Rating: A++ (Superior)
- 23% NJ home insurance market share (1st in state)
- 10% NJ auto insurance market share (3rd in state)
- Avg. Jersey City home insurance rate: $1,131 per year
State Farm is the largest insurance company in New Jersey with excellent financial strength, a large local agent network and competitive pricing. While customer satisfaction scores lag some competitors, State Farm is a great choice for bundled home and auto insurance.
2. Allstate
- Offers home, auto, life, condo, renters, business insurance and more
- A.M. Best Rating: A+ (Superior)
- 10% NJ home insurance market share (2nd in state)
- 9% NJ auto insurance market share (4th in state)
- Avg. Jersey City home insurance rate: $1,246 per year
Allstate features strong financial ratings and a wide selection of insurance products. Policyholders can bundle home and auto for discounts. Allstate lags on claims satisfaction but rates highly for customer service. Overall, a solid choice for Jersey City home and auto insurance.
3. Liberty Mutual
- Offers home, auto, life, condo, renters, business insurance and more
- A.M. Best Rating: A (Excellent)
- 5% NJ home insurance market share (4th in state)
- 7% NJ auto insurance market share (5th in state)
- Avg. Jersey City home insurance rate: $1,327 per year
Liberty Mutual is a top 10 insurer in New Jersey for home and auto insurance with extensive policy options. However, customer and claims satisfaction lag competitors. Liberty Mutual offers discounts for bundling and home safety features.
4. Travelers
- Offers home, auto, life, condo, renters, business insurance and more
- A.M. Best Rating: A++ (Superior)
- 8% NJ home insurance market share (3rd in state)
- 3% NJ auto insurance market share (10th in state)
- Avg. Jersey City home insurance rate: $1,246 per year
Travelers insurance has great financial strength, high customer retention, and superior claims processing. Policyholders can bundle home and auto insurance for discounts. Travelers offers additional coverages like identity theft and cybersecurity protection.
5. Chubb
- Specializes in high-net-worth insurance products
- A.M. Best Rating: A++ (Superior)
- Caters to wealthy Jersey City residents in the downtown and waterfront neighborhoods
- Avg. Jersey City home insurance rate: $1,081 per year
Chubb is tailored for luxury homes and assets requiring specialized insurance. Policyholders benefit from Chubb’s financial strength, renowned claims service and extra coverages. Chubb offers earthquake insurance and umbrella liability policies with higher limits.
6. Plymouth Rock Assurance
- Regional insurer offering home, auto and business insurance
- A.M. Best Rating: A- (Excellent)
- 4% NJ home insurance market share (6th in state)
- Avg. Jersey City home insurance rate: $1,338 per year
Plymouth Rock features online quoting and policy management. However, fewer discounts are available compared to national insurers. Plymouth Rock offers flood insurance through an affiliate provider. Rates are higher than average but Plymouth Rock is still a viable local option.
7. NJM Insurance
- Offers home, auto, business, life insurance focused on New Jersey
- A.M. Best Rating: A+ (Superior)
- 2% NJ home insurance market share (10th in state)
- Avg. Jersey City home insurance rate: $1,220 per year
As a local mutual insurer, NJM Insurance primarily operates in New Jersey. Policyholders benefit from local claims handling and community involvement. However, fewer discounts are offered compared to national carriers. Overall, a good option for Jersey City residents loyal to New Jersey-based companies.
8. The Hartford
- National insurer with home, auto, business, life insurance options
- A.M. Best Rating: A+ (Superior)
- Avg. Jersey City home insurance rate: $1,372 per year
The Hartford offers broad insurance coverage and has a long track record of financial stability. Policyholders can bundle home and auto insurance. The Hartford’s customer satisfaction scores are mixed but claims handling is rated highly.
9. Farmers Insurance
- National insurer with home, auto, business, life insurance options
- A.M. Best Rating: A (Excellent)
- Avg. Jersey City home insurance rate: $1,274 per year
Farmers Insurance provides standard coverage across home, auto and life insurance. Policyholders can bundle for discounts up to 21%. Farmers offers additional coverages like identity theft and equipment breakdown protection. However, claims satisfaction scores lag competitors.
10. Selective Insurance
- Regional insurer focused in the Northeastern U.S.
- A.M. Best Rating: A+ (Superior)
- Avg. Jersey City home insurance rate: $679 per year
Selective Insurance has affordable homeowners insurance rates in Jersey City compared to other leading insurers. Policyholders can bundle home and auto for discounts. Selective has limited brand recognition but positive customer satisfaction ratings in online reviews.
Key Takeaways
This covers my top 10 recommended insurance companies in Jersey City based on financial strength, market share, pricing, and customer satisfaction factors. State Farm and Allstate stand out as top insurers with national scale, broad coverage options, and strong brand recognition. Regional options like Plymouth Rock, NJM and Selective Insurance can provide competitive rates from local carriers. High-net-worth households may prefer Chubb’s specialized offerings.
I suggest Jersey City homeowners compare quotes from a mix of these insurers to find the best rate. Bundling home and auto insurance can also lower costs. Use this list as a starting point to evaluate the top insurance providers in your area.
Best insurance companies in Jersey City, NJ
| Rank | Company | Zippia Score |
|---|---|---|
| 1 | Berkley Environmental | |
| 2 | EIMC |
Best Car Insurance in New Jersey: Get a Quote in minutes | Commercial car insurance quote
FAQ
What is the largest insurance company in NJ?
Who is the top 10 insurance company?
How much is car insurance in Jersey City?
Which insurance company has the cheapest rates in Jersey City?
Geico has the cheapest rates for full coverage in Jersey City, followed by NJM and Plymouth Rock. Rates from these three companies are, respectively, 50%, 27% and 23% cheaper than the state average, which is $2,536 annually. Currently insured? It’s free, simple and secure. Geico has the cheapest rates for minimum coverage in Jersey City.
Who is the best home insurance company in Jersey City?
Chubb is the best home insurance company for people with high-value and luxury homes, as well as other assets that need to be insured, like boats and luxury cars. Chubb is the best home insurance company in Jersey City for high-value homes.
Is NJM the cheapest homeowners insurance company in Jersey City?
NJM is one of the best overall homeowners insurance companies in Jersey City. While NJM is a small company, its rates and coverage options stack up well against those of a much larger company. We found that NJM has the cheapest homeowners insurance among major companies in Jersey City, on average.
How much does insurance cost in Jersey City?
Neighborhood factors such as crime and population density can increase your risk of filing a claim — and thereby raise your rates. ZIP codes 07304, 07306 and 07307 pay the highest rates for full coverage in Jersey City, at $2,559 per year on average, while ZIP codes 07302, 07310 and 07311 pay the least, $2,515.