Get Morris Plains, NJ Home Insurance Rates!

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If you are looking for a new homeowners insurance policy in Morris Plains, NJ or are just shopping for a lower New Jersey home insurance premium, we are here to help. Our website can help you compare up to 12 competitive rate quotes based on price and coverage options.

We only work with top-rated carriers in Morris Plains who offer robust coverage at an affordable price. We will help you make sure your home is fully protected.

Our site can help you shop a wide variety of insurers quickly and easily. Let us help you review and compare Morris Plains home insurance rates today, enter your zip code above to start a free online quote or give us a call now at 1-855-976-2656.

A Few Facts about Morris Plains, NJ Home Insurance Rates

Home insurance cost around $1,277 per year on average in the Morris Plains area based on a basic HO-3 homeowner coverage policy including owner-occupied dwelling and a single family unit. To help you compare your average premium, you can see that the national home insurance average is around $1,311.

While insurance rates in Morris Plains are already pretty affordable, we help you compare rates and coverage options from other insurers so you can find the best rate and policy for your home. Our site can help you save up to 40% or more on your premium while making sure you are fully covered.

While other sites may pair you with lesser known insurance companies that come with reduced coverages levels, we only shop national insurers that offer high quality policies at affordable prices. Our free shopping process allows you to view all the enhanced coverage features, deductible options plus home insurance discounts to make sure you are fully covered at a reasonable price.

Home prices in Morris Plains and coverage options

In addition to lower than average insurance rates, homes in Morris Plains are very affordable with the median price for a home coming in at around $480,600. Homeowners insurance offers a variety of coverages that can protect all aspects of your home and property.

Here is a quick overview of the various coverages included in a standard homeowners policy:

Dwelling: This portion of your homeowners policy covers the structure of your home against covered perils. This coverage pays to rebuild or repair your home if it is damaged or destroyed. It is important to remember that dwelling coverage typically excludes flood damage so if you are in a high-risk area, you will need a separate flood insurance policy to be fully protected. For flood insurance only in Morris Plains, NJ, please call us at 888-620-1954!

Personal Property: Your homeowners policy will protect your personal property under this section of the policy.  Personal property coverage is typically capped at 50% of your dwelling coverage. This means that if you are carrying $250,000 in coverage on your home, your personal property coverage will be capped at around $125,000.

It is always a good idea to keep an inventory of your personal possessions. There are numerous apps that help make this tedious task easier.

Liability: This portion of the policy protects you if a person is injured at your home. It will help cover their medical bills as well as lost wages and funeral costs if necessary. It will also help pay your legal bills if your injured guest decides to sue you.

In addition, the property liability section of your policy will pay for damage you do to another person’s property. As an example, if your child puts a baseball through the neighbor’s window, your liability coverage will pay to replace the window.

Loss of Use: This coverage will help pay bills that you incur if you are not able to live in your home after it is damaged by a covered peril. As an example, if your home burns to the ground you may have to move into a hotel or rental while it is being rebuilt. This coverage will help cover bills such as the hotel, restaurant, and even dry cleaning.

Flood and Earthquake coverage: As mentioned above, a standard homeowners policy excludes coverage for flood and earthquake damage. If your home is at risk of flooding or earthquake damage you will need to purchase a separate policy to be fully protected.

Ready to start shopping for a new policy? Simply enter your zip code above, complete the home details application and we will shop a variety of insurance companies to help you find the best coverage at an affordable premium.

Compare Homeowners Insurance Rates in Morris Plains, NJ!

Enter your Zip Code:    

Get up to 12 competitive Morris Plains, NJ homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Morris Plains, NJ rates all in one place!

Average Rates Nearby Morris Plains

Are you looking for homeowners insurance in a city near Morris Plains? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!

Home Insurance Rates by Zipcode in Morris Plains, NJ

Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Morris Plains.

07950,     

Morris Plains, NJ Home Insurance Average Premiums

Local Morris Plains, NJ home insurance quotes comparison

$684 /yr.

Shows Morris Plains's lowest average rates with discounts applied.

For the city of Morris Plains, 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)		$684 /yr.
Average Coverage:$934 /yr.
2600 sq. ft. or higher
(all discounts applied)		$1234 /yr.

What is the average home insurance cost for a home in Morris Plains, NJ?

  • • The average homeowners insurance premium paid annually for a home in Morris Plains is around $934 per year.

What does it cost on average per month for home insurance in Morris Plains, NJ?

  • • Homeowners in Morris Plains pay an average cost per month around $78.00 for insurance coverage.

Morris Plains, NJ Coastal Wind, Hail & Flood Information

Morris Plains is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.

Morris Plains, NJ - 2023 Housing Information

Month Current Home Value (2023) Last Year Home Value (2022)
January $546,570 $522,859
February $549,864 $525,573
March $555,292 $530,105
April $558,528 $535,230

Homeowners insurance will help cover the cost to repair or replace your Morris Plains home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:

  • Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Morris Plains
  • Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
  • Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
  • Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
  • Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Enter your Zip Code:    

Get up to 12 competitive Morris Plains, NJ homeowners insurance rates all in one place!

Enter your Zip Code:    
Easily compare up to 12 competitive Morris Plains, NJ rates all in one place!

Saving Money Tips on Morris Plains Home Insurance

A great way to save money on Morris Plains homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:

  • Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
  • Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
  • Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
  • Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.

Are you shopping for the best rate near or wihin the Morris Plains area? Check out what homeowners are paying on average for New Jersey homeowners insurance.

Elevation Review for Coastal Wind or Flooding Risk

Elevation Details Homeowners Tips
696 ft. This is the average home elevation in Morris Plains, NJ

» Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Morris Plains, New Jersey.

A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home.

Call Now for Flood Insurance Quotes: 888-620-1954!

Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy.

It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas.

To get online quotes on your home and compare rates on home insurance premiums in Morris Plains, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Morris County.

New Jersey Homeowners Insurance News & Information

  • Buy Flood Insurance: What we learned from Hurricane Ida Posted on Monday 20th September, 2021

    On September 2, 2021, Parked cars in New Brunswick, New Jersey submerged underwater after Tropical Storm Ida. Hurricane Ida struck Louisiana as a category 4 hurricane with 150 mile an hour winds and days later hit New Jersey, New York, and other states with a massive amount of rain that has caused numerous flash floods, […]

  • 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 […]

  • Update: New Jersey Ordered Insurance Relief Posted on Wednesday 22nd April, 2020

    New Jersey residents may see some relief from insurance premiums due to COVID-19 pandemic. Recently, the New Jersey Department of Banking and Insurance ordered insurers to provide financial relief to residents and businesses.  The guidance was signed last week by Governor Phil Murphy and extends the grace periods during which insurance companies will not be […]

  • Mortgage Payment Relief 2020: Tips & Questions Posted on Tuesday 21st April, 2020

    Homeowners across the country are suffering as unemployment climbs across all industries, making it difficult for many homeowners to cover all of their bills. The Federal government, as well as some private mortgage companies are offering a bit of help by allowing some homeowners to apply for mortgage relief. While this sounds great, there can […]

  • New Mortgage Relief for New Jersey Homeowners During Coronavirus Crisis Posted on Wednesday 15th April, 2020

    Aerial view of Atlantic City, New Jersey, overlooking Atlantic City Boardwalk and pier. In a recent announcement, New Jersey Gov. Phil Murphy revealed the details of a 90-day grace period for mortgage payments for all New Jersey homeowners that have been financially impacted by the outbreak of the coronavirus. This will allow New Jersey residents […]

Morris Plains, NJ Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Morris Plains so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.

What is the average replacement cost coverage in Morris Plains, NJ?

- The average square footage in Morris Plains is around 2,490 Sq. Ft. which would cost you around $480,600 to replace the home if you base the home on the price to build per square foot of $193.

Minimum Replacement Cost Total: $480,600

Location: Morris Plains, New Jersey (Morris County)

Average Building Cost Per Square Foot in Morris Plains: $193 (low end)

Average Square Footage in Morris Plains: 2,490 Sq. Ft.

Home Improvement StatusPrice per Sq. Ft.Dwelling Coverage
None or Very Minor Improvements$193$480,600
Some Additional Upgrades$241$600,750
Major Home Updates or Advancements$290$720,900

The dwelling coverage is calculated by the average cost per square foot ($193) in Morris Plains, New Jersey times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $603,125 (Media price to build of $241 x 2500 sq. ft.) to cover the cost to rebuild your new home.

What is the difference between actual cash value and replacement cost value?

Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:

Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.

Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.