Ocean View, NJ Homeowners Insurance Rate Quotes!

In the great city of Ocean View there are 22,396 people living in a variety of different property types. Some of you in Ocean View are building your first single-family home. While others are looking for affordable home insurance quotes on your existing home or condo. While there are about 2,035 homes in the Ocean View area, many of the ones that are currently occupied are in need of lower rates and better home insurance coverage. In the majority of these Ocean View neighborhoods, the average family size is around 3 residents per house.

In Ocean View, the average income per household is around $95,083. While this is a fairly high number, it is slightly below the national median. Luckily, the cost of owning a home in Ocean View is fairly cheap, the average home price on the real estate market today is $313,700. Many residents living in Ocean View like to use our online home insurance shopping service to get upfront rates before buying there first home. If you are shopping for a house, simply use our online quoting application to compare multiple rates for each "dream" house on your list. Our free consultation process helps you quickly review the best carrier and premium so you know the exact cost of home insurance. Some carriers are competitive in different areas, so if you are thinking about certain zip codes in Ocean View, we help you decide which home will have the most affordable rates.

Home Insurance In Ocean View Is Lower Than Expected - Review Averages!

With the local real estate market booming, what better way to shop rates and coverages than with us at GetHomeInsuranceQuotes.com of Ocean View. Average rates are around $975 per year. You can get rates as low as $725 per year. Larger homes in this area pay around $1,275 per year due to higher replacement cost coverage also known as dwelling coverage. This helps cover your expenses if you ever need to rely on your insurance company to replace or rebuild your home. This compares very favorably with the national average, which is $1,311 according to the latest data.

New Jersey is now ranked number 22 in the United States for annual home insurance rates.

When it comes to New Jersey home insurance, there are a variety of different policy types and each one is written for a certain type of home, condo or apartment. Having the right policy type is key to protecting your most valuable investment, your home.

Here is some information about the most common home insurance types in Ocean View:

Type	Description
HO-3	The HO-3 is the most common type of home insurance coverage. The majority of homeowners carry this type of policy and it covers damage that is caused by all perils unless they are excluded within the policy. Damages that are caused by floods or earthquakes is always excluded on an HO-3 policy but there can be other exclusions as well. Make sure you ask the right questions and take the time to review your policy so you know what is covered.
HO-6	Condos are a very popular housing option in Ocean View. In addition to condos, it also protects co-ops. This insurance offers coverage for your personal belongings as well as the components of the building that you actually own.
HO-8	Ocean View is lucky to have a fair number of historical homes and if you own one, you may need a HO-8 policy. These policy types are specific to older homes where the replacement cost of the house may actually exceed the cash value of the home. These policies are affordable because the payout levels are less than the actual replacement cost of the house. In most cases, the need for an HO-8 policy arises when the house is more than 40 years old and doesn’t qualify for a HO-3 policy. These policies only cover 11 perils.
HO-4	This policy type was designed for people that rent an apartment. It is often referred to as renters insurance. An HO-4 policy will pay out for damage to your personal property in your apartment and it also offers liability protection in the event that someone is injured in your apartment.

Compare Homeowners Insurance Rates in Ocean View, NJ!

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Average Rates Nearby Ocean View

Are you looking for homeowners insurance in a city near Ocean View? 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 Ocean View, NJ

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

08230,

Ocean View, NJ Home Insurance Average Premiums

Local Ocean View, NJ home insurance quotes comparison

$725 /yr.

Shows Ocean View's lowest average rates with discounts applied.

For the city of Ocean View, 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)	$725 /yr.
Average Coverage:	$975 /yr.
2600 sq. ft. or higher (all discounts applied)	$1275 /yr.

What is the average home insurance cost for a home in Ocean View, NJ?

• The average homeowners insurance premium paid annually for a home in Ocean View is around $975 per year.

What does it cost on average per month for home insurance in Ocean View, NJ?

• Homeowners in Ocean View pay an average cost per month around $81.00 for insurance coverage.

Ocean View, NJ Coastal Wind, Hail & Flood Information

Ocean View 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 Ocean View is know for it's beautiful beaches and waterways. Because Cape May County (FIPS: 34009) 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 Ocean View, NJ.

Ocean View, NJ - 2023 Housing Information

Month	Current Home Value (2023)	Last Year Home Value (2022)
January	$369,441	$354,716
February	$374,131	$357,439
March	$381,095	$361,048
April	$386,158	$366,157

Homeowners insurance will help cover the cost to repair or replace your Ocean View 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 Ocean View
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 Ocean View, NJ homeowners insurance rates all in one place!

Saving Money Tips on Ocean View Home Insurance

A great way to save money on Ocean View 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 Ocean View 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
30 ft.	This is the average home elevation in Ocean View, 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 Ocean View, 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

30 ft.

This is the average home elevation in Ocean View, 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 Ocean View, 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 Ocean View, 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 Cape May 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 […]

Ocean View, NJ Dwelling Coverage Estimate

It is important to calculate your dwelling coverage for your home in Ocean View 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 Ocean View, NJ?

- The average square footage in Ocean View is around 1,625 Sq. Ft. which would cost you around $313,700 to replace the home if you base the home on the price to build per square foot of $193.

Minimum Replacement Cost Total: $313,700

Location: Ocean View, New Jersey (Cape May County)

Average Building Cost Per Square Foot in Ocean View: $193 (low end)

Average Square Footage in Ocean View: 1,625 Sq. Ft.

Home Improvement Status	Price per Sq. Ft.	Dwelling Coverage
None or Very Minor Improvements	$193	$313,700
Some Additional Upgrades	$241	$392,125
Major Home Updates or Advancements	$290	$470,550

Calculate Your Ocean View, NJ Dwelling Coverage

The dwelling coverage is calculated by the average cost per square foot ($193) in Ocean View, 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.