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Home Insurance in 07503

Our rates are very competitive for homeowners living in the 07503 zip code. Many homeowners based out of Paterson, NJ have found it very easy to shop with GetHomeInsuranceQuotes.com. For example, we clearly showcase the carriers that we will shop for you. Plus, our home insurance quotes are free and our NJ licensed agents can provide a free consultation service to you that allows you to ask questions about the rates and coverage options. To start a free home insurance quote, simply click the "Get Multiple Quotes Now" button. Your 07503 should appear in the zip code field ready to go.

07503 Average Home Insurance Rates

Are you looking for a standard HO-3 homeowners policy for your single family home in the Paterson area? The average homeowners premium in 07503 is high in comparison to other states. For example, the national average is $1,249 per year for home insurance coverage for a basic home insurance policy. For homeowners living in the 07503, you can expect to pay around $950 per year for homeowners coverage. If you want to see which company has the best rates and coverage options, than easily compare rates with us. You can review each premium and we can help explain any question that you may have about different types of coverages and what is best for you and your family.

Get Home Insurance Coverage in 07503 Today!

Get Home Insurance Quotes in 07503

We can shop up to 12 home insurance quotes for you easily online. You can find out more by exploring one of the three links below to review average homeowners insurance rates in the great state of New Jersey. Start your 07503 home insurance shopping today!

  1. Paterson, NJ Home Insurance Quotes

07503 Home Insurance Average Premiums

Local 07503 homeowners insurance quotes comparison

$700 /yr.

Shows Zip Code: 07503 lowest rates with discounts applied on average.

For the 07503, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.

Coverage Amount:Annual Premium
1800 sq. ft. or below
(discounts applied)		$700 /yr.
Average Coverage:$950 /yr.
2600 sq. ft. or higher
(all discounts applied)		$1250 /yr.

What is the average home insurance cost for a home in 07503?

  • • The average homeowners insurance premium paid annually for a home in 07503 is around $950 per year.

What does it cost on average per month for home insurance in 07503?

  • • Homeowners in 07503 pay a monthly average cost per month around $79.00.

What kind of discount could I get if I combine my home and auto insurance together in 07503?

  • • Autoowners in 07503 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.

For shopping home insurance rates within the Paterson area, check out other zip codes nearby 07503.
Review average rates in another zip code:
07505 homeowners insurance rates
07513 homeowners insurance rates
07522 homeowners insurance rates
07524 homeowners insurance rates
07504 homeowners insurance rates
07514 homeowners insurance rates
07501 homeowners insurance rates
07503 homeowners insurance rates
07502 homeowners insurance rates

Home Replacement Cost Coverage in 07503

Average Building Cost Per Square Foot in 07503: $193

Location: Paterson, New Jersey (Passaic County)

Average Square Footage in 07503: 1,407 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 07503 before you start any project. Paterson homeowners pay on average around $193 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 07503 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Here is how you determine your replacement cost. If we take an average home in 07503 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 1,407 sq. ft. and the average cost to rebuild the home in this area is around $193 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Paterson area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.

Home Improvement StatusPrice per Sq. Ft.Square FeetDwelling Coverage
Basic Home Features$1931,407$271,600
Additional Upgrades & Added Features$2411,407$339,500
Major Home Updates or Advancements$2901,407$407,400

It's important to understand that when you estimate your replacement cost of your home in the 07503 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.

Best Homeowners Insurance Agencies in 07503

Best Home & Auto Insurance Agencies in 07503

Prosolutions Agency Corp

Address: 964 Main St Paterson, NJ 07503
Phone:
Website:
Info:

Housing Demographics for 07503

Population Review for 07503 Zip Code

For the city of Paterson, the population within 07503 has increased to over 18,342 residents in population size. The current population total is 19,893. We have broken down the population based on race below. In 07503, there are over 10073 in male population and 9820 females.

PopulationValues
Total Population19,893
White Population7040
Black Population1784
Hispanic Population11668
Asian Population513
Hawaiian Population9
Indian Population264
Other Population7221
Male Population10073
Female Population9820
Population Estimate18342

Household Data for 07503

The average number of homes in 07503 is around 6,213, there are an average of 3.19 per household. The average house value according to local real estate values is around $271,600. Please review the following demographics below for average income and media age.

Housing / Income DataValues
Households Per Zipcode6,213
Persons Per Household3.19
Average House Value$271,600
Income Per Household$56645
Median Age34.5
Median Age Male33.4
Median Age Female35.6
07503 DetailsValues
StateNJ
State Full NameNew Jersey
City TypeP
City Alias Abbreviation
Area Code973
CityPaterson
City Alias NamePATERSON
CountyPassaic
County FIPS031
State FIPS34
Time Zone5
Day Light SavingY
MSA5602
PMSA0875
CSA408
CBSA35620
CBSA_DIV35614
CBSA_TypeMetro
CBSA_NameNew York-Newark-Jersey City, NY-NJ
MSA_NameNew York-Northern New Jersey-Long Island, NY-NJ-CT-PA
PMSA_NameBergen-Passaic, NJ PMSA
RegionNortheast
DivisionMiddle Atlantic
MailingNameY
Economic & Growth ReviewValues
Number Of Businesses501
Number Of Employees8941
Business First Quarter Payroll145718
Business Annual Payroll634204
Business Employment Flag
Growth Rank0
Growth Housing Units 2003
Growth Housing Units 2004
Growth Increase Number0
Growth Increase Percentage0.0
Metropolitan DetailsValues
CBSA Population18897109
CBSA Division Population11576251
Congressional District09
Congressional LandArea95.34
Delivery Residential5750
Delivery Business688
Delivery Total6480
Preferred Last Line KeyV11161
Classification Code
Multi-County
CSA NameNew York-Newark, NY-NJ-CT-PA
CBSA_DIV_NameNew York-Jersey City-White Plains, NY-NJ
City State KeyV11161
Land Area1.546000
Water Area0.037000
City Alias Code
City Mixed CasePaterson
City Alias Mixed CasePaterson
Box Count0
SFDU4198
MFDU850
State ANSI34
County ANSI031
ZIP Intro
Alias Intro
Facility CodeP
City Delivery IndicatorY
Carrier Route Rate SortationD
Finance Number336420
Unique ZIP Name
SSA State County Code31320
Medicare CBSA Code35614
Medicare CBSA NameNew York-Jersey City-White Plains, NY-NJ
Medicare CBSA TypeMetro
Market Rating Area ID1
County Mixed CasePassaic

New Jersey Homeowners Insurance News & Information

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  • FEMA’s new rating system is called “Risk Rating 2.0,” effective October 1st, 2021 Posted on Wednesday 28th April, 2021

    A recent report by ValuePenguin looked at the new risk ratings that the Federal Emergency Management Agency’s (FEMA) will be using when determining premiums for flood insurance in the National Flood Insurance Program (NFIP). The report found that millions of homeowners could see noticeable increases in flood insurance costs. FEMA’s new rating system is called […]