Paterson Insurance Rates:

Paterson, NJ home insurance is about $720 to $978, about $60-$81/month. Our in depth guide shows customers can save as much as $339 by getting multiple quotes

Compare Quotes from Top Providers and Save now!

Research about Paterson Home Insurance Rates, Quotes, Reviews, Agents, Coverage & other ways to save money in New Jersey. Compare quotes & save.

Paterson Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Allstate
Home Insurance Rate of $110/1 month for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $240,000

2 Beds, 2 Bath 1430 sqft Primary Residence Constructed In 1958 with Carpet Flooring, Composition Roof, Chainwall Foundation, Vinyl siding, Wood Frame. Home Features Include Indoor Sprinklers, Central Air Conditioning, Copper Water Pipes, Fire Extinguisher, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

51 Years old Married Male who is Unemployed and has 1 Pet and is a Non-Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 700-749 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $1160/9 months for $300000-$350000 Coverage
Policy Holder Home Details :

Home Value : $335,000

3 Beds, 3 Bath 2400 sqft Primary Residence Constructed In 1973 with Carpet Flooring, Shingles Roof, Slab Foundation, Brick siding, Brick Frame. Home Features Include Swimming Pool, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

64 Years old Married Female who is a Freelancer with household income of $75-$100,000 and has More than 3 Pets at home and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 650-699 Credit Score

  • Seniors staying at home

Home Insurance Rate of $390/3 months for $400000-$500000 Coverage
Policy Holder Home Details :

Home Value : $415,000

4 Beds, 4 Baths 3040 sqft Vacation Property Constructed In 1959 with Ceramic Tile Flooring, Asphalt Shingles Roof, Piers Foundation, Vinyl siding, Wood Frame. Home Features Include Swimming Pool, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

51 Years old Married Female who is Unemployed and has 1 Pet and is a Non-Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 800-850 Credit Score

  • Guests at home

Home Insurance Rate of $500/7 months for $175000-$200000 Coverage
Policy Holder Home Details :

Home Value : $195,000

2 Beds, 2 Bath 1240 sqft Primary Residence Constructed In 1954 with Hardwood Flooring, Tile Roof, Crawl Space Foundation, Stucco siding, Metal Frame Construction. Home Features Include Fireplace, Copper Water Pipes, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

47 Years old Single Female who has a Part Time Job with household income of less than $25,000 and has More than 3 Pets at home and is a Non-Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 550-599 Credit Score

Home Insurance Rate of $150/2 months for $250000-$300000 Coverage
Policy Holder Home Details :

Home Value : $310,000

2 Beds, 2 Bath 1660 sqft Primary Residence Constructed In 1959 with Hardwood Flooring, Slate Shingles Roof, Slab Foundation, Wood siding, Metal Frame Construction. Home Features Include Smoke Alarm, Copper Water Pipes, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

67 Years old Married Male who is Retired and has More than 3 Pets at home and is a Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 600-649 Credit Score

  • Seniors staying at home

Home Insurance Rate of $450/10 months for $75,000-$100,000 Coverage
Policy Holder Home Details :

Home Value : $100,000

3 Beds, 3 Baths 1534 sqft Primary Residence Constructed In 1962 with Linoleum, Wood Shake Roof, Crawl Space Foundation, Stucco siding, Metal Frame Construction. Home Features Include Indoor Sprinklers, Copper Water Pipes, Smoke Alarm, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

40 Years old Divorced Female who has a Full Time Job with household income of more than $150,000 and has 3 Pets and is a Smoker

Additional Details :
  • 50-75% Mortgage Paid off

  • 800-850 Credit Score

  • Seniors staying at home

Paterson Rates & Quotes Analysis:

Paterson Area Estimated House Insurance
Tyler St, Caldwell Ave, Ellison Pl, Ramsey St, Passaic County 651, Parkway, River Ter, E 36th St, Tony Columbia Pl, N 11th St$859
Oliver St, 22nd Ave, Hillman St, Eagle Ave, Temple St, Paterson St, Fulton St, E 13th St, Erie St, Colonial Ave$874
Southard St, Harris Pl, Elizabeth St, E 11th St, Atlantic St, Morton St, Curtis Pl, N 1st St, Smith St, E 15th St$964
Salem Rd, E 34th St, May St, Ward St, Howard St, Pope Rd, Manor Rd, E 42nd St, Olive St, Hoxey St$864
Hopper St, Coral St, Kent Rd, Katz Ave, Katz Ave, Wayne Ave, Wait St, Hill St, McBride Ave Exd, Albion Ave$848

Insurance rates are influenced by a number of factors including:

  • Year Built: 12,967 Homes (26% of total) built between 1939 or earlier in Paterson are paying home insurance between $1,815-$1,828 and varies from Elmwood Park (+$57), Fair Lawn (+$70), Hawthorne (+$52), Prospect Park (-$13) and Silver Lake (-$19).
  • Bedrooms: 13,893 3 bedrooms homes (33% of total homes ) in Paterson are paying about $450 and varies from Prospect Park (+$5), Haledon (+$11), Elmwood Park (+$24), Pearl River(NY) (-$146) and Airmont(NY) (-$145).
  • Auto Insurance Bundling: 4,442 Households (35% of all households) in Paterson have 2 vehicles available and when it is bundled with home insurance you can save $169. Discounts for similar bundling in close by locations such as Prospect Park, Haledon, Elmwood Park come to $168, $170, $175 respectively.
  • Senior Discounts: 5,712 seniors (more than 55 years) occupied housing units (45% of total) in Paterson get discounts between $127 to $129. The comparative concessions in proximate regions such as Prospect Park, Haledon and Elmwood Park are $126, $127 and $131 respectively.
  • New Homes discounts: New homes such as the 13,457 homes built between 2000 to 2009 in Paterson can save $169 and similar new home insurance discounts in nearby towns and cities like Prospect Park, Haledon and Elmwood Park are $168, $170 and $175 respectively.

Paterson Homeowners insurance Facts

  • Paterson, NJ has 12,499 owner occupied houses which is 28.7% of all units whereas Prospect Park, Haledon and Elmwood Park have 51.6%, 49.73% and 61.35% respectively.
  • Paterson, NJ homeowners yearly insurance price at $848 is 0.28% of the typical house value of $302,400 which is in contrast with 0.3% in Prospect Park, 0.27% at Haledon & 0.22% in Elmwood Park.
  • Homeowners in Paterson, NJ pay 1.26% of their income ($60,000 to $74,999) in insurance whereas homeowners in Prospect Park, Haledon and Elmwood Park pay 1.25%, 1.26% and 1.3% respectively.
  • Paterson, NJ’s insurance is 2.7% of monthly housing costs of $2,604/month, for owners with a mortgage compared to 2.93% in Prospect Park, 2.83% at Haledon & 2.76% in Elmwood Park. But, for households without a mortgage, insurance is 7.1% of costs ($1,001 in Paterson, NJ) in contrast with 7.01% in Prospect Park, 7.1% at Haledon & 7.59% in Elmwood Park.

Paterson, NJ Home Values & Insurance rates

For example, insurance for 2,150 Homes (19.0% of total homes ) valued between $250,000 to $299,999 in Paterson, NJ is about $771. Rates in nearby areas in such as Haledon, Elmwood Park, Woodland Park are cheaper by $38, $158, $158 respectively while Prospect Park and Silver Lake are costlier by $54 and $76 respectively for similar homes.

Paterson, NJ Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 352 3.0% $67
$100,000 to $124,999 447 4.0% $305
$125,000 to $149,999 245 2.0% $381
$150,000 to $174,999 469 4.0% $449
$175,000 to $199,999 571 5.0% $525
$200,000 to $249,999 1,656 15.0% $627
$250,000 to $299,999 2,150 19.0% $771
$300,000 to $399,999 4,631 43.0% $975

Renters Insurance in Paterson

  • Average Renters Insurance in Paterson :  $137($11/month)

  • Median Gross Rent in Paterson :  $1,085

  • Paterson Renters Insurance to Median Rent Ratio:  1.01%

  • Average household size of renter-occupied unit :  3.06

Paterson Renters Insurance as a Percentage of Rent

Paterson Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
Less than $200 668 2.0% $334
$200 to $299 1,432 4.0% $784
$300 to $499 1,264 4.0% $1234
$500 to $749 3,077 10.0% $1909
$750 to $999 5,794 18.0% $2659
$1,000 to $1,499 14,742 48.0% $3784
$1,500 or more 3,520 11.0% $5434

Rent Affordability in Paterson:

Approximately 58.0% (18,238) of households are spending more than 35% of their income on gross rent in Paterson

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 2,380 7.0%
15.0 to 19.9 percent 2,111 6.0%
20.0 to 24.9 percent 2,600 8.0%
25.0 to 29.9 percent 2,798 8.0%
30.0 to 34.9 percent 2,993 9.0%
35.0 percent or more 18,238 58.0%

Protective device discount in Paterson Up to :  $20

Claims-free discount in Paterson Up to :  $27