Best homeowners insurance

Could you afford to rebuild your home from scratch? What about the legal costs and financial burden of a lawsuit? With the right homeowners insurance policy, you can rest assured the your assets are covered against a wide range of potential losses. Continue reading for our comprehensive guide to homeowners insurance in New Jersey.

Coverage is Essential

Your home is likely one of your largest assets. Protecting it is essential and may even be required by your mortgage lender to protect the collateral on your loan. Even if you own your home in full, however, homeowners insurance is still an important way to protect your financial security. After all, all homeowners are at risk of losses, whether due to fire, inclement weather, or even a lawsuit.

Average house insurance cost

According to, wind-related damages are responsible for 1 in 4 home insurance claims. While most policies cover these types of damages, nearly 1 in 5 claims are caused by water backup or overflow, which is excluded by many coverage plans. Furthermore, flooding caused by groundwater, such as snowmelt and rain accumulation, is not covered at all by homeowners insurance in the U.S. An independent agent can help you purchase endorsements and stand-alone coverage that better protect your home against these types of damages and more. Considering just 1 inch of standing water can cost upwards of $27,000 in repairs, it could pay to talk to an agent about your options.

Types of Home Insurance Policies

There are several types of homeowners insurance policies sold in New Jersey. There is the HO-1 Basic Form, which typically provides limited coverage to the structure of your home against damages caused by specific named perils. The HO-2 Broad Form expands coverage to additional named events and also covers your personal belongings inside your home. The HO-3 Special Form is often considered ‘standard coverage’, as it is the most commonly purchased type of policy. HO-3 typically covers a home against all types of perils except those specifically excluded by name. It also covers personal belongings and personal liability, although coverage details can vary from insurer to insurer. Finally, an HO-5 is the broadest home insurance coverage, expanding upon the HO-3 to provide greater coverage options for personal belongings and liability damages.

Types of Home Insurance Coverage

The Insurance Information Institute clearly outlines the basics of home insurance. A typical policy often includes four types of coverage:


Covers the structural components, finishes, and fixtures of your home, as well as other structures on your property like fences and detached garages

Personal Belongings

Covers damages to the things you own due to a covered event


Helps pay for legal defense costs if you are sued for third-party injuries or property damages; also pays medical bills, judgments, and out-of-court settlements up to the limits of your coverage if you are found liable for third-party damages

Temporary Living Expenses

Covers the additional necessary living expenses you incur as a result of being displaced from your home due to a covered event.

Home insurance premium

Annual Home Insurance Cost

The cost of home insurance can vary depending on a number of individual risk factors. Insurers determine premiums based on unique algorithms that vary from company to company. Examples of common variables that can affect your costs include:

  • The amount of coverage you need
  • Your history of insurance claims
  • Your credit history
  • Whether you own a pool, dog, or trampoline
  • The age of your roof
  • The type of fireplace you have
  • Whether you have a monitored home security system
  • Where you live
  • And more

While some variables are fixed, other factors are adjustable. For example, raising your policy deductible may result in a lower annual home insurance cost. You may also be able to save money by purchasing your homeowners insurance and car or motorcycle insurance from the same carrier.


  • Your lender may require homeowners insurance per the terms of your mortgage
  • All home insurance policies are not the same
  • Flooding is not covered by homeowners insurance
  • You may be able to expand or personalize your coverage with endorsements
  • An independent agent can help you save on your average house insurance cost

Finding the Best Homeowners Insurance for You

At the Marine Agency, we understand New Jersey homeowners insurance and can help you shop and compare coverage from several of the state’s leading insurers. As a full-service independent insurance agency, we can help you find comprehensive protection and a competitive home insurance premium.

For more information about home insurance or to request your free quotes, contact Marine Agency today.

Our Insurance Products

Contact Us

opens in a new window

Main Office

422 US Hwy 22 W, Unit 7
Whitehouse Station NJ 08889

Local: 908-838-9762

Toll-Free: 84-INSURE-NJ (844-678-7365)


9 AM - 5 PM , Monday - Thursday;

9 AM - 4 PM, Friday

Mailing Address

PO Box 125
Whitehouse Station NJ 08889

Local: 973-763-4711

Toll-Free: 800-35-MARINE (800-356-2746)