Best Insurance Companies in New Jersey 2022

November 4, 2021by Grace1
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It’s no longer news that regardless of your location in New Jersey, you need insurance for your properties. So, if you’re on the lookout for the best car, business, health or homeowners insurance companies in New Jersey, this guide will help you make the best pick.

In this guide you will get to know the insurance costs of different insurance policies for New Jersey residents.

Furthermore, we give you access to a detailed explanation of the pros and cons of each insurance company in New Jersey.

However, if you do not reside in New Jersey but you want to compare other insurance costs of other States in the USA, then view the related articles below.

5 Best Insurance Companies in New Jersey for your Business.

If you own a business or you’re an employee in New Jersey it’s a great feat. 

Generally speaking, New Jersey is a great state in the US to own a small business. 

Besides that, there are various financing and incentive programs as well as tax breaks to help small business owners. 

So, if a small business enterprise wants to get insurance quotes, which insurance provider in New Jersey is best?

Find out below!!!

#1. CoverWallet

CoverWallet is an insurance company in New Jersey best known for comparing online quotes. 

Majorly, they are digital business insurance brokers. 

Over the years, CoverWallet has worked with other top insurance companies such as Hiscox, Liberty Mutual, Chubb, etc to deliver quality service.

Basically, their digital orientated insurance services make them stand out.

Also, their customers can buy and manage all of their business insurance policies on the digital dashboard.

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#2. Hiscox

Next on our list of best business insurance companies in New Jersey is Hiscox.

Hiscox is best known for its flexible payment options. 

Also, we consider it as one of the best because it has a personalized user interface where customers can tailor their insurance policy based on their needs.

That means you do not have to pay for insurance you don’t need. 

Furthermore, we recommend Hiscox because getting an insurance quote is easy.

Also, monthly payments do not come with added fees.

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#3. Vouch

Here’s another top-rated New Jersey insurance company best known for general liability insurance for startups.

That means if you’re running a start-up company, Vouch is your best bet for business insurance coverage.

Also, they are easily accessible via zoom, email, call or you can simply talk to a licensed insurance advisor via chatbot. 

It’s one of the best business insurance companies in New Jersey.

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#4. Next Insurance

Next insurance is one of the top-rated insurance providers in New Jersey.

Basically, they are best known for bundle discounts. 

Therefore, if you need multiple insurance policies, getting a quote from Next saves you 10%.

Next is top rated because it has a strong online platform which affords customers the opportunity to get a quote and carry out other services online.

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#5. The Hartford

When you refer to a top business insurance company in the USA as a whole, you might be talking about Hartford. 

Seeing the stellar reviews from clients is enough to make you get insurance coverage for your business.

Hartford boasts a 4.8 out of five stars, based on over 17,000 reviews for business insurance. 

Also, regardless of what you do, Hartford has an insurance plan to accommodate your business whether big or small.

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From our analysis based on J.D power rating, A.M Best analysis and financial strength, we came up with the above list of business insurance companies in New Jersey.

However, some other credible business insurance companies in New Jersey include;

  • Biberk
  • Nationwide

5 Best Health Insurance Companies in New Jersey

Looking for the best health insurance NJ? 

If you are in New Jersey and you’re wondering if there are health insurance companies that offer the best services then  this piece is for you.

Check out our options for the best medical insurance companies with affordable insurance policies in New Jersey. 

#1. AmeriHealth

In New Jersey, AmeriHealth takes the lead in the list of best health insurance companies.

AmeriHealth offers varieties of health care plans for all budgets both individual and family insurance plans.

Basically, they offer both health maintenance organization (HMO) and preferred provider organization (PPO) plans.

Also, AmeriHealth affords the customers the opportunity to manage their claims and benefits through their mobile app or official website.

However, the Better Business Bureau (BBB) says they are not trusted in billing/collections.

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#2. Blue Cross Blue Shield

Next on our list of best health insurance companies in New Jersey is BCBS. 

Peculiar to this health insurance provider is the wide network of doctors, hospitals and specialists.

Also, BCBS is known for a wide network of coverage across all 50 US States and outside the country.

However, the not-so-good feature of this insurance company is that you must look to your regional company for specific policies.

And also, the main customer service helpline may be difficult to reach.

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#3. Oscar Health Insurance

If you’re looking for health plans with lower monthly premiums, then consider Oscar Health.

Besides that, plan members have low copays and access to telehealth services with in-network healthcare providers.

Their EPO plans allow users to use in-network plans to cover the cost of services. 

In addition, they offer members virtual visits 24/7.

Sadly, their customers are not satisfied and they have a limited provider network.

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#4. Humana

Humana is one of the best health insurance companies in New Jersey.

It’s best known for dental and vision coverage.

So, if you’re looking for a way to add dental and vision coverage to your health insurance plan without breaking the bank, Humana is a good option.

Furthermore, the company has HMO, PPO and indemnity plans. 

One of the features that makes this health insurance company ideal is their financial stability. 

If things go wrong, the company is capable of paying any claims presented.

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#5. Ameritas

Here’s another medical insurance company in New Jersey that is highly recognized.

However, it’s best for adult and child orthodontia benefits.

Just like Humana, ameritas offers comprehensive dental and vision plans for New Jersey residents. 

Their coverage is 100% for preventive and pediatric orthodontic care.

But sadly if you’re looking for more health plans besides dental and vision coverage, Ameritas is not your best bet.

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Best Insurance Companies in New Jersey 2022
Best Insurance Companies in New Jersey 2022

5 Best Car Insurance Companies in New Jersey

Without mincing words, a car insurance is the second most important insurance policy any New Jersey resident should have.

New Jersey roads are relatively congested 

And due to the high number of cars on the road, there is a high possibility for accidents which calls for an insurance plan.

When shopping for auto insurance, New Jersey drivers  should look beyond the cost.

Considering other factors such as the needs and credibility of the auto insurance company shouldn’t be overlooked.

We have made that process easy for you by analysing and bringing you the best car insurance companies in New Jersey.

The list includes;

#1. Geico

Geico is an insurance provider offers one of the longest lists of discounts in the auto insurance industry 

This affords the users the opportunity to save. 

Unlike USAA, Geico offers car coverage for federal employees, military members, safe drivers and good students. 

In the 2021 J.D. Power U.S. Insurance Digital Experience Study, Geico comes tops in the ranks.

The availability of Geico digital apps makes the insurance services more robust.

This allows users to request roadside service, view ID cards, make payments, file claims and request policy changes. 

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#2. New Jersey Manufacturers Insurance

NJM as it’s popularly called sells auto insurance coverage in New Jersey, Pennsylvania, Connecticut and Ohio. 

Besides the low full coverage premium, the company also earns top spot in the 2020 J.D. Power U.S. Auto Claims Satisfaction Study.

Sadly, NJM’s digital tools are not quite powerful.

That means if you prefer to handle your insurance online or via a mobile app then this insurance provider is not for you.

Basically, it is one of the best car insurance companies in New Jersey.

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#3. State Farm

If you have a low budget for car insurance then State Farm might be a good choice. 

State Farm is one of the car insurance companies in New Jersey with a track record of excellence.

Also, if you want to work with local agents, State Farm has plenty of agents and agencies in New Jersey. 

The good news is that State Farm’s J.D. Power ranking for claims satisfaction is above average.

Also, the company has a higher-than-average overall complaint index score from the National Association of Insurance Commissioners (NAIC). 

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#4. Progressive

If you’re on the lookout for highly personalizable insurance coverage, Progressive is a good first consideration. 

Progressive is one of the best insurance companies in New Jersey that has a variety of optional coverages which includes loan or lease payoff, custom parts and equipment, rideshare coverage and roadside assistance. 

In addition to that, progressive is one of teh car insurance companies in New Jersey that offers a lot of discounts which helps users save.

If you’re looking for an insurance company with highly-rated service, Progressive might not be a good consideration.

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#5. Allstate

Allstate has the highest premium for car insurance coverage in New Jersey.

This makes it not a viable option for drivers looking for cheap insurance.

Away from that, Allstate offers several endorsements such as sound system equipment coverage and roadside assistance.

However, there is a chance for customers to lower their premium with the company’s discounts.

This includes the Drivewise telematics program.

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5 Best Insurance Companies in New Jersey for Homeowners

From a majority perspective, your home is the biggest financial investment you will ever make.

Whether you’re living on rent, purchasing a starter home in Trenton or a retirement cottage in Jersey Shore, you’ll need home insurance.

To that regard, we bring you the list of the best homeowners insurance companies in New Jersey.

The list includes;

#1. Allstate

Here’s one of the top-rated homeowners insurance companies in New Jersey. 

Allstate operates using local agencies throughout New Jersey.

Also, Allstate stands out because it has an easy claims process which gives users the option to call their nationwide claims center, local agent or file a report using the Allstate mobile app. 

Furthermore, this insurance provider offers a wide range of discounts, which could decrease your premiums. 

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#2. New Jersey Manufacturers

Next in the list of homeowners insurance companies in New Jersey is NJM. 

NJM has a variety of discount options which includes one for seniors and others for installing storm shutters and hurricane-resistant glass. 

With NJM insurance plans, customers can customise their homeowners insurance policy.

They can choose to add endorsements, riders, identity fraud, mold and rot.

Sadly, NJM is not rated by J.D. Power.

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#3. State Farm

Historically, State Farm is one of the homeowners insurance companies in New Jersey that is financially stable.

They are best known for offering good home insurance coverage at affordable rates.

Also, their online resources make it easy to learn more about what your homeowners insurance plan covers. 

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#4. Travelers

Travelers offer low premium insurance costs not just in New Jersey but in California as well

In addition to that, they offer a wide range of discounts which includes deals for green homes and being loss-free. 

Also, they offer a coverage inclusion for jewelry and valuable items, identity fraud and a personal articles floater. 

But before you jump into this insurance offer, kindly note that Travelers received the lowest J.D. Power customer satisfaction rating on our list.

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#5. USAA

USAA is one of the best homeowners insurance companies in New Jersey.

However, they only offer coverage to active military members, veterans and their eligible family members.

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Frequently Asked Questions About Best Insurance Companies in New Jersey.

What is the Cost Of Insurance Plans in New Jersey?

Insurance plans and policies will differ based on many factors such as;

  • What or who has been insured.
  • Insurance plan
  • Duration of insurance plan.
  • Available discounts.
  • Bundling services
  • Insurance provider 
  • Value of what is insured etc.

However, we bring you an average cost of insurance plans in New Jersey. 

Homeowners insurance plans in New Jersey costs about $751 for $250,000 in dwelling coverage per year. 

However, the average car insurance cost is about $1,757 per year for full coverage car insurance.

For health insurance, we discovered that the cost is at about $500 per month for an individual health insurance plan. 

What are the Best Insurance Companies I Can Work For In New Jersey?

If you want to work as a staff or an agent in any of insurance companies in New Jersey, here is a list of the top 27 companies you can apply to;

  • Munich Reinsurance America
  • Selective Insurance
  • Prudential Financial
  • NJM Insurance Group
  • Munich Re America Brokers
  • AEGIS Insurance Services
  • Crum & Forster
  • GAB Robins North America
  • Cumberland Mutual
  • Crown Roll Leaf
  • Command Group
  • Sandy Alexander Inc.
  • Capital Printing
  • Parachute Health
  • Spiral
  • Phoenix Insurance
  • Investment Title
  • McMahon Insurance Agency
  • First Jersey Insurance
  • Depasquale The Spa
  • Savoy
  • Laser Master International
  • Kessler Industries
  • chibell & Mennie,
  • Franklin Mutual Insurance Company
  • Princeton Air Conditioning
  • Officemate International

Editors Recommendation

References

  • https://bravopolicy.com/small-business-insurance/general-liability-insurance-in-new-jersey-nj/ 
  • https://www.benzinga.com/money/best-health-insurance-nj/ 
  • https://www.bankrate.com/insurance/car/new-jersey/ 
  • https://www.zippia.com/company/best-insurance-companies-new-jersey/ 
  • https://www.bankrate.com/insurance/homeowners-insurance/in-new-jersey/ 

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