UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-08621 Name of Fund: BlackRock MuniHoldings New Jersey Insured Fund, Inc. (MUJ) Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock MuniHoldings New Jersey Insured Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 Registrant's telephone number, including area code: (800) 882-0052, Option 4 Date of fiscal year end: 07/31/2008 Date of reporting period: 08/01/2007 - 10/31/2007 Item 1 - Schedule of Investments BlackRock MuniHoldings New Jersey Insured Fund, Inc. Schedule of Investments as of October 31, 2007 (Unaudited) (in Thousands) Face Amount Municipal Bonds Value New Jersey - 145.7% $ 1,875 Atlantic Highlands, New Jersey, Highland Regional Sewer Authority, Sewer Revenue Refunding Bonds, 5.50% due 1/01/2020 (b) $ 1,992 1,540 Camden County, New Jersey, Improvement Authority, Lease Revenue Bonds, 5.50% due 9/01/2010 (c)(h) 1,625 430 Carteret, New Jersey, Board of Education, COP, 6% due 1/15/2010 (d)(h) 457 2,500 Delaware River and Bay Authority Revenue Bonds, 5% due 1/01/2033 (d) 2,558 4,630 Delaware River Joint Toll Bridge Commission of New Jersey and Pennsylvania, Bridge Revenue Refunding Bonds, 5% due 7/01/2028 4,723 5,000 Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds, 5.50% due 1/01/2012 (c) 5,199 6,000 Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds, 5.625% due 1/01/2013 (c) 6,258 500 Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds, 5.75% due 1/01/2015 (c) 523 4,865 Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds, 6% due 1/01/2018 (c) 5,100 5,525 Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds, 6% due 1/01/2019 (c) 5,792 2,425 Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds (Port District Project), Series B, 5.625% due 1/01/2026 (c) 2,510 7,895 East Orange, New Jersey, Board of Education, COP, 5.50% due 8/01/2012 (c) 8,358 4,000 Essex County, New Jersey, Improvement Authority, Lease Revenue Bonds (Correctional Facility Project), 6% due 10/01/2010 (b)(h) 4,282 4,400 Essex County, New Jersey, Improvement Authority Revenue Bonds, Series A, 5% due 10/01/2013 (b)(h) 4,733 9,000 Garden State Preservation Trust of New Jersey, Capital Appreciation Revenue Bonds, Series B, 5.12% due 11/01/2023 (c)(k) 4,368 10,000 Garden State Preservation Trust of New Jersey, Capital Appreciation Revenue Bonds, Series B, 5.20% due 11/01/2025 (c)(k) 4,380 1,960 Garden State Preservation Trust of New Jersey, Open Space and Farmland Preservation Revenue Bonds, Series A, 5.80% due 11/01/2021 (c) 2,218 2,730 Garden State Preservation Trust of New Jersey, Open Space and Farmland Preservation Revenue Bonds, Series A, 5.80% due 11/01/2023 (c) 3,090 9,160 Garden State Preservation Trust of New Jersey, Open Space and Farmland Preservation Revenue Bonds, Series A, 5.75% due 11/01/2028 (c) 10,802 Portfolio Abbreviations To simplify the listings of BlackRock MuniHoldings New Jersey Insured Fund, Inc.'s portfolio holdings in the Schedule of Investments, we have abbreviated the names of many of the securities according to the list below. AMT Alternative Minimum Tax (subject to) CABS Capital Appreciation Bonds COP Certificates of Participation EDA Economic Development Authority GO General Obligation Bonds S/F Single-Family BlackRock MuniHoldings New Jersey Insured Fund, Inc. Schedule of Investments as of October 31, 2007 (Unaudited) (concluded) (in Thousands) Face Amount Municipal Bonds Value New Jersey $ 5,000 Garden State Preservation Trust of New Jersey, Open Space and Farmland (concluded) Preservation, Revenue Refunding Bonds, Series C, 5.25% due 11/01/2020 (c) $ 5,554 7,705 Garden State Preservation Trust of New Jersey, Open Space and Farmland Preservation, Revenue Refunding Bonds, Series C, 5.25% due 11/01/2021 (c) 8,563 4,340 Hopatcong, New Jersey, GO, Sewer Refunding Bonds, 4.50% due 8/01/2033 (a) 4,362 2,230 Jersey City, New Jersey, GO, Series B, 5.25% due 9/01/2011 (c)(h) 2,408 5,250 Lafayette Yard, New Jersey, Community Development Revenue Bonds (Hotel/Conference Center Project-Trenton), 6% due 4/01/2010 (d)(h) 5,609 1,550 Middlesex County, New Jersey, COP, 5.25% due 6/15/2023 (d) 1,594 1,375 Middlesex County, New Jersey, COP, Refunding, 5.50% due 8/01/2016 (d) 1,466 5,270 Middlesex County, New Jersey, Improvement Authority, Lease Revenue Bonds (Educational Services Commission Projects), 6% due 7/15/2010 (h) 5,665 500 Middlesex County, New Jersey, Improvement Authority Revenue Bonds (Senior Citizens Housing Project), AMT, 5.50% due 9/01/2030 (a) 514 695 Monmouth County, New Jersey, Improvement Authority, Governmental Loan Revenue Refunding Bonds, 5.35% due 12/01/2010 (a)(h) 733 535 Monmouth County, New Jersey, Improvement Authority, Governmental Loan Revenue Refunding Bonds, 5.375% due 12/01/2010 (a)(h) 565 845 Monmouth County, New Jersey, Improvement Authority, Governmental Loan Revenue Refunding Bonds, 5.35% due 12/01/2017 (a) 889 935 Monmouth County, New Jersey, Improvement Authority, Governmental Loan Revenue Refunding Bonds, 5.375% due 12/01/2018 (a) 985 1,830 Morristown, New Jersey, Parking Authority Revenue Bonds, 5% due 8/01/2030 (d) 1,918 3,000 Morristown, New Jersey, Parking Authority Revenue Bonds, 5% due 8/01/2033 (d) 3,134 2,700 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.625% due 6/15/2019 2,743 2,000 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2029 2,095 585 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2031 603 1,180 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2034 1,240 5,000 New Jersey EDA, Lease Revenue Bonds (University of Medicine and Dentistry-International Center for Public Health Project), 6% due 6/01/2032 (a) 5,257 7,500 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25% due 7/01/2026 (d) 8,356 11,105 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25% due 7/01/2033 (d) 11,664 2,000 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5% due 7/01/2034 (d) 2,062 9,000 New Jersey EDA, School Facilities Construction Revenue Bonds, Series L, 5% due 3/01/2030 (c) 9,318 8,420 New Jersey EDA, School Facilities Construction Revenue Bonds, Series O, 5.25% due 3/01/2023 9,005 2,500 New Jersey EDA, School Facilities Construction Revenue Bonds, Series U, 5% due 9/01/2037 (a) 2,608 1,000 New Jersey EDA, School Facilities Construction, Revenue Refunding Bonds, Series N-1, 5.50% due 9/01/2027 (b) 1,146 2,500 New Jersey EDA, Solid Waste Disposal Facilities Revenue Bonds (Waste Management Inc.), AMT, Series A, 5.30% due 6/01/2015 2,573 2,670 New Jersey EDA, State Lease Revenue Bonds (Liberty State Park Project), Series C, 5% due 3/01/2022 (c) 2,807 3,000 New Jersey EDA, State Lease Revenue Bonds (State Office Buildings Projects), 6% due 6/15/2010 (a)(h) 3,192 4,620 New Jersey EDA, State Lease Revenue Bonds (State Office Buildings Projects), 6.25% due 6/15/2010 (a)(h) 4,944 3,000 New Jersey EDA, Water Facilities Revenue Bonds (New Jersey-American Water Company, Inc. Project), AMT, Series A, 5.25% due 11/01/2032 (a) 3,068 10,775 New Jersey Health Care Facilities Financing Authority, Department of Human Services Revenue Bonds (Greystone Park Psychiatric Hospital Project), 5% due 9/15/2023 (a) 11,281 250 New Jersey Health Care Facilities Financing Authority Revenue Bonds (RWJ Healthcare Corporation), Series B, 5% due 7/01/2025 (i) 252 3,000 New Jersey Health Care Facilities Financing Authority Revenue Bonds (RWJ Healthcare Corporation), Series B, 5% due 7/01/2035 (i) 2,973 2,820 New Jersey Health Care Facilities Financing Authority Revenue Bonds (Society of the Valley Hospital), 5.375% due 7/01/2025 (a) 2,915 2,135 New Jersey Health Care Facilities Financing Authority Revenue Bonds (Somerset Medical Center), 5.50% due 7/01/2033 2,028 5,440 New Jersey Health Care Facilities Financing Authority Revenue Bonds (South Jersey Hospital), 6% due 7/01/2012 (h) 5,981 4,000 New Jersey Health Care Facilities Financing Authority, Revenue Refunding Bonds (AHS Hospital Corporation), Series A, 6% due 7/01/2013 (a)(g) 4,490 1,525 New Jersey Health Care Facilities Financing Authority, Revenue Refunding Bonds (Atlantic City Medical Center), 5.75% due 7/01/2012 (h) 1,666 530 New Jersey Health Care Facilities Financing Authority, Revenue Refunding Bonds (Atlantic City Medical Center), 6.25% due 7/01/2012 (h) 590 925 New Jersey Health Care Facilities Financing Authority, Revenue Refunding Bonds (Atlantic City Medical Center), 6.25% due 7/01/2017 1,007 1,975 New Jersey Health Care Facilities Financing Authority, Revenue Refunding Bonds (Atlantic City Medical Center), 5.75% due 7/01/2025 2,063 1,000 New Jersey Health Care Facilities Financing Authority, Revenue Refunding Bonds (Meridian Health System Obligation Group), 5.375% due 7/01/2024 (c) 1,033 5,890 New Jersey Sports and Exposition Authority, Luxury Tax Revenue Refunding Bonds (Convention Center), 5.50% due 3/01/2021 (d) 6,640 3,000 New Jersey Sports and Exposition Authority, Luxury Tax Revenue Refunding Bonds (Convention Center), 5.50% due 3/01/2022 (d) 3,392 2,400 New Jersey Sports and Exposition Authority, State Contract Revenue Bonds, Series A, 6% due 3/01/2013 (d) 2,529 7,500 New Jersey State Educational Facilities Authority, Higher Education, Capital Improvement Revenue Bonds, Series A, 5.125% due 9/01/2012 (a)(h) 8,027 9,420 New Jersey State Educational Facilities Authority Revenue Bonds (Capital Improvement Fund), Series A, 5.75% due 9/01/2010 (c)(h) 10,003 2,000 New Jersey State Educational Facilities Authority Revenue Bonds (Kean University), Series D, 5% due 7/01/2032 (b) 2,090 300 New Jersey State Educational Facilities Authority Revenue Bonds (Kean University), Series D, 5% due 7/01/2039 (b) 312 1,200 New Jersey State Educational Facilities Authority Revenue Bonds (Montclair State University), Series A, 5% due 7/01/2021 (a) 1,273 2,880 New Jersey State Educational Facilities Authority Revenue Bonds (Montclair State University), Series A, 5% due 7/01/2022 (a) 3,044 1,220 New Jersey State Educational Facilities Authority Revenue Bonds (Richard Stockton College), Series F, 5% due 7/01/2031 (d) 1,271 3,260 New Jersey State Educational Facilities Authority Revenue Bonds (Rowan University), Series C, 5% due 7/01/2014 (d)(h) 3,522 3,615 New Jersey State Educational Facilities Authority Revenue Bonds (Rowan University), Series C, 5.125% due 7/01/2014 (d)(h) 3,932 450 New Jersey State Educational Facilities Authority Revenue Bonds (Rowan University), Series G, 4.50% due 7/01/2031 (d) 449 3,900 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Montclair State University), Series J, 4.25% due 7/01/2030 (d) 3,738 7,510 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Montclair State University), Series L, 5% due 7/01/2014 (d)(h) 8,114 1,250 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Ramapo College), Series I, 4.25% due 7/01/2031 (a) 1,203 900 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Ramapo College), Series I, 4.25% due 7/01/2036 (a) 858 1,800 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Rowan University), Series B, 4.25% due 7/01/2034 (b) 1,707 465 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Rowan University), Series C, 5% due 7/01/2011 (b)(h) 493 790 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Rowan University), Series C, 5.25% due 7/01/2011 (b)(h) 844 2,135 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Rowan University), Series C, 5.25% due 7/01/2017 (b) 2,273 2,535 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Rowan University), Series C, 5.25% due 7/01/2018 (b) 2,684 2,370 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Rowan University), Series C, 5.25% due 7/01/2019 (b) 2,509 945 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Rowan University), Series C, 5% due 7/01/2031 (b) 969 2,800 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Stevens Institute of Technology), Series A, 5% due 7/01/2027 2,805 900 New Jersey State Educational Facilities Authority, Revenue Refunding Bonds (Stevens Institute of Technology), Series A, 5% due 7/01/2034 883 11,225 New Jersey State Housing and Mortgage Finance Agency, Capital Fund Program Revenue Bonds, Series A, 4.70% due 11/01/2025 (c) 11,295 4,800 New Jersey State Housing and Mortgage Finance Agency, Capital Fund Program Revenue Bonds, Series A, 5% due 5/01/2027 (c) 5,015 745 New Jersey State Housing and Mortgage Finance Agency, Home Buyer Revenue Bonds, AMT, Series U, 5.60% due 10/01/2012 (d) 757 2,140 New Jersey State Housing and Mortgage Finance Agency, Home Buyer Revenue Bonds, AMT, Series U, 5.65% due 10/01/2013 (d) 2,174 2,395 New Jersey State Housing and Mortgage Finance Agency, Home Buyer Revenue Bonds, AMT, Series U, 5.75% due 4/01/2018 (d) 2,433 640 New Jersey State Housing and Mortgage Finance Agency, Home Buyer Revenue Bonds, AMT, Series U, 5.85% due 4/01/2029 (d) 650 800 New Jersey State Housing and Mortgage Finance Agency, S/F Housing Revenue Refunding Bonds, AMT, Series T, 4.70% due 10/01/2037 752 2,500 New Jersey State Transit Corporation, COP (Federal Transit Administration Grants), Series A, 6.125% due 9/15/2009 (a)(h) 2,619 7,500 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue Bonds, Series A, 6% due 6/15/2010 (h) 7,979 4,050 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue Bonds, Series C, 4.70% due 12/15/2032 (c)(k) 1,224 1,400 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue Bonds, Series C, 5.05% due 12/15/2035 (a)(k) 363 5,500 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue Bonds, Series C, 5.05% due 12/15/2036 (a)(k) 1,358 7,800 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue Bonds, Series D, 5% due 6/15/2019 (c) 8,266 10,750 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue Refunding Bonds, Series A, 5.25% due 12/15/2020 (c) 11,925 9,165 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue Refunding Bonds, Series B, 5.50% due 12/15/2021 (d) 10,414 7,615 New Jersey State Turnpike Authority, Turnpike Revenue Bonds, Series B, 5.15% due 1/01/2035 (a)(k) 5,485 4,610 New Jersey State Turnpike Authority, Turnpike Revenue Refunding Bonds, Series C, 6.50% due 1/01/2016 (d)(g) 5,309 910 New Jersey State Turnpike Authority, Turnpike Revenue Refunding Bonds, Series C, 6.50% due 1/01/2016 (d) 1,045 870 Newark, New Jersey, Housing Authority, Port Authority-Port Newark Marine Terminal, Additional Rent-Backed Revenue Refunding Bonds (City of Newark Redevelopment Projects), 4.375% due 1/01/2037 (d) 843 1,000 North Bergen Township, New Jersey, Board of Education, COP, 6% due 12/15/2010 (c)(h) 1,084 3,260 North Bergen Township, New Jersey, Board of Education, COP, 6.25% due 12/15/2010 (c)(h) 3,559 4,335 North Hudson Sewage Authority, New Jersey, Sewer Revenue Refunding Bonds, 5.125% due 8/01/2020 (d) 4,768 1,035 Orange Township, New Jersey, Municipal Utility and Lease, GO, Refunding, Series C, 5.10% due 12/01/2017 (d) 1,062 1,980 Paterson, New Jersey, Public School District, COP, 6.125% due 11/01/2015 (d) 2,096 2,000 Paterson, New Jersey, Public School District, COP, 6.25% due 11/01/2019 (d) 2,119 4,605 Perth Amboy, New Jersey, GO (Convertible CABS), Refunding, 4.50% due 7/01/2032 (c)(k) 3,770 1,395 Perth Amboy, New Jersey, GO (Convertible CABS), Refunding, 4.50% due 7/01/2033 (c)(k) 1,141 1,470 Perth Amboy, New Jersey, GO (Convertible CABS), Refunding, 4.55% due 7/01/2037 (c)(k) 1,198 13,500 Port Authority of New York and New Jersey, Special Obligation Revenue Bonds (JFK International Air Terminal LLC), AMT, Series 6, 6.25% due 12/01/2011 (d) 14,756 1,500 Port Authority of New York and New Jersey, Special Obligation Revenue Bonds (JFK International Air Terminal LLC), AMT, Series 6, 6.25% due 12/01/2015 (d) 1,718 3,000 Port Authority of New York and New Jersey, Special Obligation Revenue Bonds (JFK International Air Terminal LLC), AMT, Series 6, 5.75% due 12/01/2025 (d) 3,004 6,600 Rahway Valley Sewerage Authority, New Jersey, Sewer Revenue Bonds (Capital Appreciation), Series A, 4.79% due 9/01/2028 (d)(k) 2,472 520 Rutgers State University, New Jersey, Revenue Bonds, Series E, 5% due 5/01/2034 (b) 537 500 Salem County, New Jersey, Improvement Authority Revenue Bonds (Finlaw State Office Building Project), 5.375% due 8/15/2028 (c) 542 3,750 South Jersey Port Corporation of New Jersey, Revenue Refunding Bonds, 4.50% due 1/01/2015 3,854 1,920 South Jersey Port Corporation of New Jersey, Revenue Refunding Bonds, 4.50% due 1/01/2016 1,962 1,500 South Jersey Port Corporation of New Jersey, Revenue Refunding Bonds, 5% due 1/01/2026 1,536 2,000 South Jersey Port Corporation of New Jersey, Revenue Refunding Bonds, 5.10% due 1/01/2033 2,044 4,755 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue Bonds, 7% due 6/01/2013 (h) 5,558 2,000 University of Medicine and Dentistry of New Jersey, COP, 5% due 6/15/2029 (d) 2,068 4,740 University of Medicine and Dentistry of New Jersey, Revenue Bonds, Series A, 5.50% due 12/01/2027 (a) 5,059 8,580 West Deptford Township, New Jersey, GO, 5.625% due 9/01/2010 (b)(h) 9,082 Puerto Rico - 14.2% 4,500 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue Refunding Bonds, Series J, 5% due 7/01/2029 (d) 4,670 3,480 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue Refunding Bonds, Series K, 5% due 7/01/2015 (h) 3,796 16,650 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue Refunding Bonds, Series N, 5.25% due 7/01/2039 (b) 18,534 4,000 Puerto Rico Commonwealth Infrastructure Financing Authority, Special Tax and Capital Appreciation Revenue Bonds, Series A, 4.34% due 7/01/2037 (a)(k) 950 6,830 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series HH, 5.25% due 7/01/2010 (c)(h) 7,219 5,100 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series RR, 5% due 7/01/2028 (f) 5,307 1,780 Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Revenue Bonds (Hospital Auxilio Mutuo Obligation Group), Series A, 6.25% due 7/01/2024 (d) 1,792 1,750 Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Revenue Bonds (Hospital de la Concepcion), Series A, 6.50% due 11/15/2020 1,887 1,000 Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Revenue Bonds (University Plaza Project), Series A, 5% due 7/01/2033 (d) 1,024 Total Municipal Bonds (Cost - $488,849) - 159.9% 507,525 Municipal Bonds Held in Trust (e) New Jersey - 2.9% 8,650 Trenton, New Jersey, Parking Authority, Parking Revenue Bonds, 6.10% due 4/01/2010 (b)(h) 9,181 Total Municipal Bonds Held in Trust (Cost - $9,780) - 2.9% 9,181 Shares Held Short-Term Securities 1,796 CMA New Jersey Municipal Money Fund, 2.88% (j)(l) 1,796 Total Short-Term Securities (Cost - $1,796) - 0.6% 1,796 Total Investments (Cost - $500,425*) - 163.4% 518,502 Other Assets Less Liabilities - 2.0% 6,314 Liability for Trust Certificates, Including Interest Expense Payable - (1.4%) (4,339) Preferred Stock, at Redemption Value - (64.0%) (203,099) ------------ Net Assets Applicable to Common Stock - 100.0% $ 317,378 ============ * The cost and unrealized appreciation (depreciation) of investments as of October 31, 2007, as computed for federal income tax purposes, were as follows: Aggregate cost $ 495,860 ================ Gross unrealized appreciation $ 19,047 Gross unrealized depreciation (730) ---------------- Net unrealized appreciation $ 18,317 ================ (a) AMBAC Insured. (b) FGIC Insured. (c) FSA Insured. (d) MBIA Insured. (e) Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund may have acquired the residual interest certificates. These securities serve as collateral in a financing transaction. (f) CIFG Insured. (g) Escrowed to maturity. (h) Prerefunded. (i) Radian Insured. (j) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows: Net Dividend Affiliate Activity Income CMA New Jersey Municipal Money Fund (6,582) $ 23 (k) Represents a zero coupon, or step bond; the interest rate shown reflects the effective yield at the time of purchase. (l) Represents the current yield as of October 31, 2007. Item 2 - Controls and Procedures 2(a) - The registrant's principal executive and principal financial officers or persons performing similar functions have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act")) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities and Exchange Act of 1934, as amended. 2(b) - There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3 - Exhibits Certifications - Attached hereto Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BlackRock MuniHoldings New Jersey Insured Fund, Inc. By: /s/ Donald C. Burke ------------------- Donald C. Burke, Chief Executive Officer of BlackRock MuniHoldings New Jersey Insured Fund, Inc. Date: December 19, 2007 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Donald C. Burke ------------------- Donald C. Burke, Chief Executive Officer (principal executive officer) of BlackRock MuniHoldings New Jersey Insured Fund, Inc. Date: December 19, 2007 By: /s/ Neal J. Andrews ------------------- Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock MuniHoldings New Jersey Insured Fund, Inc. Date: December 19, 2007