New Providence, NJ Homeowners Insurance Rate Quotes!

Are you looking for the best home insurance rates in New Providence, NJ? Although price is the #1 factor for homeowners when it comes to shopping for a new home insurance policy, the most important is having the right coverage and protection for your home and family. If you want to save more money on your New Providence home insurance premium, try applying the following homeowners insurance discounts and credits when comparing multiple rates, you may realize that there are additional discounts available other than the common deadbolt, smoke detector or security alarm. All of these possible discount items can help you save up to 40% on your home insurance policy. For fast quotes, please call us at 1-855-976-2656 or get quotes online for free and let our local New Providence home insurance professional help you find the affordable rates you are looking for!

Buying a New Providence, NJ Homeowners Policy

Many homeowners in New Providence are not sure what is covered under a basic homeowners (HO-3) policy. Here are the most important coverage details that you need when a standard policy. Also below we have included some coverage options that may be required in addition to your policy for that added protection.

Standard Coverage

Fire and Lightning - home fires or weather related claims due to thunderstorms
Water Damage and Freezing Temperatures - plumbing issues or harsh cold winters
Theft
Bodily Injury

Additional Protection

Wind and Hail - high winds and hail damage account for the majority of claims every year.
Earthquake - some mortgage providers require you to purchase earthquake insurance.
Flooding - if your home is in a flood zone, your mortgage lender will require you to purchase a flood insurance policy.

When shopping and comparing homeowners insurance quotes online, it's also very important to have all your questions answered before purchasing a policy. This is why our quoting service provides the highest quality in customer care and free insurance consulting services. We want to help you discover affordable rates, but also help you find the protection you need for your New Providence home.

How much is home insurance in New Providence, NJ?

Finding cheaper premiums in New Providence is now much easier for local residents thanks to GetHomeInsuranceQuotes.com. Many homeowners often ask how their current premium ranks compared to other homeowners throughout the state. New Providence homeowners are seeing rates as low as $699.00 per year. Average home insurance rates with good coverage and a 1800 square foot home are seeing rates around the $949.00 per year which is only $79.00 per month. Higher-end homes that are much larger than 2800 square feet require more replacement cost coverage, so those rates are in the $1,249.00 range per year. It's important to know that these average homeowners insurance rates reflect the cost of a standard HO-3 home insurance policy which includes the coverage of your home, your contents, loss of use, medical payments and homeowner liability coverage. As mentioned above, please understand that a basic homeowners insurance policy does not include flood or earthquake protection.

The best home insurance coverage includes an affordable rate with the protection you need. At GetHomeInsuranceQuotes.com, our licensed agents can provide up to 12 competitive home insurance quotes for you to review. And our free consulting service allows us to answer any questions that you may have about which policy is best for your family and home located in New Providence.

New Providence City Demographics

Location of New Providence, NJ (UNION County)

Total Population: 35,304
Occupied Residents: 12,555
Average Price of a Home Per Zip Code: $610,800

Compare Homeowners Insurance Rates in New Providence, NJ!

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Average Rates Nearby New Providence

Are you looking for homeowners insurance in a city near New Providence? 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 New Providence, NJ

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

07974,

New Providence, NJ Home Insurance Average Premiums

Local New Providence, NJ home insurance quotes comparison

$699 /yr.

Shows New Providence's lowest average rates with discounts applied.

For the city of New Providence, 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)	$699 /yr.
Average Coverage:	$949 /yr.
2600 sq. ft. or higher (all discounts applied)	$1249 /yr.

What is the average home insurance cost for a home in New Providence, NJ?

• The average homeowners insurance premium paid annually for a home in New Providence is around $949 per year.

What does it cost on average per month for home insurance in New Providence, NJ?

• Homeowners in New Providence pay an average cost per month around $79.00 for insurance coverage.

New Providence, NJ Coastal Wind, Hail & Flood Information

New Providence 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.

Flood Zone Notice: The beautiful coastal city of New Providence is know for it's beautiful beaches and waterways. Because Union County (FIPS: 34039) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in New Providence, NJ.

New Providence, NJ - 2023 Housing Information

Month	Current Home Value (2023)	Last Year Home Value (2022)
January	$739,153	$697,705
February	$742,504	$703,444
March	$747,190	$711,866
April	$748,966	$721,825

Homeowners insurance will help cover the cost to repair or replace your New Providence 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 New Providence
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.

Get up to 12 competitive New Providence, NJ homeowners insurance rates all in one place!

Saving Money Tips on New Providence Home Insurance

A great way to save money on New Providence 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 New Providence 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
220 ft.	This is the average home elevation in New Providence, 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 New Providence, 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.

Elevation

Details

Homeowners Tips

220 ft.

This is the average home elevation in New Providence, 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 New Providence, 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 New Providence, 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 Union 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 […]

New Providence, NJ Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in New Providence 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 New Providence, NJ?

- The average square footage in New Providence is around 1,554 Sq. Ft. which would cost you around $610,800 to replace the home if you base the home on the price to build per square foot of $393.

Minimum Replacement Cost Total: $610,800

Location: New Providence, New Jersey (Union County)

Average Building Cost Per Square Foot in New Providence: $393 (low end)

Average Square Footage in New Providence: 1,554 Sq. Ft.

Home Improvement Status	Price per Sq. Ft.	Dwelling Coverage
None or Very Minor Improvements	$393	$610,800
Some Additional Upgrades	$491	$763,500
Major Home Updates or Advancements	$590	$916,200

Calculate Your New Providence, NJ Dwelling Coverage

The dwelling coverage is calculated by the average cost per square foot ($393) in New Providence, 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 $1,228,125 (Media price to build of $491 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.