Get Wharton, NJ Home Insurance Rates!

For current residents and new homeowners of Wharton, NJ, you will be happy to hear that comparing home insurance quotes in your local area has never been easier with our online quoting application. With our one-stop-shop service, you can compare up to 12 competitive homeowners insurance rates based on price, coverage options and ratings. Simply enter your Wharton New Jersey zip code and start comparing the best home insurance rates.

The most common questions we get asked is "What does homeowners insurance cost in my area"? For residents living in Wharton, NJ, the average homeowners policy is around $1,277 per year, that is only $106 per month. Usually your New Jersey homeowners premium will be paid annually, and is handled by your mortgage company. Average home insurance rates are based on a standard homeowners policy, commonly known as an HO-3 home policy. Insurance companies rate risk differently so it is important to let us do the shopping for you and help answer any questions that you may have about your home, coverage options, discounts and more.

Homeowners living in Wharton:

What would it cost to replace my home? Insurers will assign a replacement cost value to your home in case it was ever in need of rebuilding. Remember the cost to replace your home is not the same as buying the home because the cost of land does not need to be factored as an expense when replacing the structure. Try our replacement cost coverage calculator to easily generate your total replacement cost coverage, you will see three options to choose from. Those three options are based on the current status of your home like upgraded kitchen and bathrooms. These estimates are considered on a cost per square foot pricing model.

How many people live in Wharton? The total city area population for Wharton, NJ is 10,078.

How many homes in the Wharton area? The total homes in the city of Wharton is 3,743 housing units.

What is the average Wharton household income? The average income in the Wharton area is around $80,685.

How much do the homes in Wharton cost on average? The average cost of a home in Wharton is estimated to be around $297,700.

Compare Homeowners Insurance Rates in Wharton, NJ!

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Average Rates Nearby Wharton

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

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

07885,     

Wharton, NJ Home Insurance Average Premiums

$676 /yr.

For the city of Wharton, 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.

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

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

Wharton, NJ Coastal Wind, Hail & Flood Information

Wharton 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.

Wharton, NJ - 2023 Housing Information

Homeowners insurance will help cover the cost to repair or replace your Wharton 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:

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

Saving Money Tips on Wharton Home Insurance

A great way to save money on Wharton 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:

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

Elevation Review for Coastal Wind or Flooding Risk

» 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 Wharton, 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 Wharton, 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

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, […]

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 […]

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 […]

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 […]

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 […]

Wharton, NJ Dwelling Coverage Estimate

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

- The average square footage in Wharton is around 1,542 Sq. Ft. which would cost you around $297,700 to replace the home if you base the home on the price to build per square foot of $193.

Minimum Replacement Cost Total: $297,700

Location: Wharton, New Jersey (Morris County)

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

Average Square Footage in Wharton: 1,542 Sq. Ft.

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

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