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
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Availability of coverage – I only included companies that offer home auto life, business and other common insurance products to Jersey City residents.
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Financial strength ratings – I looked at ratings from A.M. Best and only chose companies rated A- or higher for excellent financial strength.
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NJ market share data – I referenced NJ market share statistics to identify leading home and auto insurers in the state.
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Customer satisfaction – I consulted J.D. Power claims satisfaction scores and customer satisfaction ratings where available.
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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.
Other national companies with offices in Jersey City, NJ
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AXA is a French multinational insurance company with its main office in the 8th arrondissement of Paris. It offers insurance, investment management, and other financial services around the world.
Great colleagues and challenging work environement.
AmTrust Financial Services, Inc. offers workers’ compensation, general liability, business owners policies, cyber liability, EPLI, and more. It is a multinational property and casualty insurance company based in New York City.
We create, market, and write commercial property and casualty and professional liability insurance for certain types of businesses.
EPIC is a unique and innovative retail property & casualty and employee benefits insurance brokerage and consulting firm. EPIC has built a culture around values and putting the customer first. This culture attracts and keeps top talent, encourages employee happiness and loyalty, and keeps up a high level of customer service excellence. EPIC employees have named their company a “Best Place to Work” in several California regions and a “Best Place to Work in the Insurance Industry” across the country. The 7th largest broker based in the U. S. About 300 people work for EPIC West. They are spread out in ten offices in California (Los Angeles, Irvine, Ontario, Fresno, Folsom, San Francisco, San Mateo, Petaluma, San Ramon, and Inland Empire), Colorado (Denver), and New York. EPIC is one of the top 40 direct insurance agents in the US, with more than $80 million in sales. In its strategic plan, the company wants to more than double its revenue over the next five years, reaching $250 million by 2018, and grow even more across the country. EPIC Insurance Brokers and Consultants is a nationwide company with its headquarters in San Francisco. It specializes in commercial property and casualty insurance, employee benefits, unique specialty program insurance, and private client services, among other types of insurance. Since it began in 2007, EPIC has grown its revenue from $12 million to an estimated $200 million a year. It has done this by both organic growth and strategic acquisitions. EPIC has built a culture around values and putting the customer first. This culture attracts and keeps top talent, encourages employee happiness and loyalty, and keeps up a high level of customer service excellence. EPIC currently ranks among the top 20 retail insurance brokers in the United States and is one of the top 50 brokers in the world (#46), as well as being a fixture on the insurance industrys ‘Best Places to Work lists. Our strategic partners include private equity firm The Carlyle Group.
Tokio Marine Holdings, Inc, is a multinational insurance holding company headquartered in Tokyo, Japan. It makes more money than any other property and casualty insurance company in Japan. It is also the parent company of the Tokio Marine Group, which has 39,000 employees in 38 countries around the world.
New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world, ranking #88 on the 2014 Fortune 500 list with over $540 billion in total assets under management, and more than $19 billion in surplus and AVR. Each of the four independent rating companies gave NYLIC the highest possible rating in 2007. The same four rating agencies said again in June 2009 that New York Life had “superior” financial strength. This was used as a selling point in national TV ads that same year. As of now, the company is one of only three life insurers that has the highest ratings from all four rating agencies (Moodys: Aaa, A, B). M. Best: A++. Standards & Poors: AA+, Fitch: AAA. All of these are for financial strength. Other New York Life companies offer a wide range of securities products and services, as well as mutual funds for both individuals and businesses.
New York Life is the strongest mutual insurer in the country. They give their agents great training and help so that they can do well in the field of financial sales. Anyone who likes sales, works well on their own, and is willing to follow a tried-and-true system can have a great career at New York Life, which offers financial solutions for protection, investments, and retirement.
The Chubb Group of Insurance Companies has been giving businesses and people around the world great property and casualty insurance products and services for more than 130 years. They now have 120 offices in 26 countries with 10,200 employees, making them the 12th largest property and casualty insurer in the United States. The Chubb Corporation reported $52. 2 billion in assets and $13. 6 billion in revenues in 2012. According to Fortune magazine, Chubb is the 202nd largest U. S. -based corporation. They have become a leader in the insurance business, and it’s not just because they are big or have been around for a long time. They always work to build lasting relationships with their customers and 8,500 independent agents and brokers. They also want to be the best at what they do by providing unmatched service and new, scalable, and specialized products that are backed by strong finances and recommendations from third parties.
WR Berkley Corporation is an insurance holding company that has been around since 1967. It works in two areas of the property and casualty insurance business around the world: insurance and reinsurance. The company has 54 operating units; 47 were created and built by the company itself, and seven were added through acquisitions. The company is based in Greenwich, CT, and has a team of over 7,500 employees.
Hallmark Financial engages itself in the sale of property and casualty insurance products to businesses and individuals. Its business involves marketing, distributing, underwriting, and servicing insurance products, as well as providing other insurance related services. It operates in segments such as Standard Commercial Segment, Specialty Commercial Segment, and Personal Segment. Its main area of business is in the United States, and most of its money comes from the Specialty Commercial Segment, which sells, underwrites, finances, and services business insurance products. Its products consist of commercial automobile, general liability, commercial property, and commercial excess liability.
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.