The Best New Brunswick, NJ, Home Insurance Companies
In New Brunswick, New Jersey, homeowners pay an average home insurance rate of $960. The quotes offered by home insurance providers differ from one company to another. New Brunswick homeowners are suggested to compare quotes from multiple home insurance companies to identify the cheapest one that best suits their needs. Below are the top 5 home insurance companies in New Jersey according to market share.
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 New Brunswick 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 New Brunswick 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 New Brunswick 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.