NJM Insurance vs Plymouth Rock Assurance (New Jersey)

Verdict

NJM Insurance and Plymouth Rock Assurance in New Jersey both write homeowners policies in New Jersey and Pennsylvania, and both are owned by their policyholders rather than by shareholders. NJM operates as a mutual and was the largest homeowners insurer in New Jersey in 2025 with $622.7 million and 13.49% of the market, per NAIC data; its group ranked #39 nationally ($682.7 million). Plymouth Rock's Palisades Safety and Insurance Association is a reciprocal exchange run by an attorney-in-fact, Plymouth Rock Management Company of New Jersey. It ranked 9th in New Jersey (4.13%) and #72 nationally ($279.1 million).

The biggest practical difference is how you buy. NJM sells directly by phone and online, with a small group of its own exclusive agents, and no independent agents for personal lines. Plymouth Rock sells online, by phone and through independent agents, with its address-based @Home quote, so an agent can compare it against other carriers. On financial strength, AM Best rates NJM A+ (Superior); its most recent announced affirmation was April 2023, and its fact sheet still listed A+ in October 2026. Palisades was upgraded to A- (Excellent) in August 2018, and Plymouth Rock's pages still cited A- in October 2026.

Underwriting stability and service differ too. NJM reports no homeowners pullbacks through October 2026. In New Jersey, High Point Preferred and Palisades Property and Casualty have closed to new homeowners business, with AtHome Insurance Company writing new policies, so check which company is named on your declarations page. Plymouth Rock's chairman acknowledged in February 2026 that policyholders were disappointed by some service, largely in independent-agency auto, and called fixing it a 2026 priority. NJM's J.D. Power recognition is for auto claims and does not measure homeowners satisfaction.

Choose NJM Insurance if

• You are comfortable buying and servicing by phone and online and want a policyholder-run insurer rated A+ (Superior).
• You want an HO-5 option and a long published endorsement list, including water back-up, scheduled property with no deductible, assisted-living coverage and earthquake in Maryland, New Jersey, Ohio and Pennsylvania.
• You live in New Jersey and can pair home with NJM auto, where policyholder dividends are possible. They are not guaranteed.
• You want published discounts for a security system, smoke alarms or sprinklers, a generator, age 65 and over, and storm shutters.

Choose Plymouth Rock if

• You want an independent agent to shop it against other carriers, or a quick online quote from a property address.
• You want guaranteed replacement coverage, home systems breakdown, utility service line, cyber and identity protection, or green upgrades as options.
• You are bundling home and auto and want a discount of up to 20% off the homeowners rate, plus claims-free and age-of-home credits.
• You are in Pennsylvania or another Plymouth Rock state and want the same brand across several states.

Key differences

Before you decide

Quote both with identical Coverage A, deductibles and endorsements, and check the hurricane deductible on each declarations page, since coastal New Jersey policies commonly carry a percentage deductible. Ask Plymouth Rock which coverage level and which underwriting company you are getting, because it does not publish level names online, and ask NJM for its recoverable depreciation terms. how to compare homeowners insurance quotes shows how to line them up, reciprocal exchanges: how they work and mutual, stock and reciprocal insurers: who owns your insurer explain the ownership models, and mutual insurers that pay policyholder dividends covers what dividends mean. Financial strength ratings: AM Best, S&P, Moody's and Demotech covers A+ versus A-.