Homeowners insurance in NJ (Edison, Middlesex: mortgage, house, closing)

[techieguy]

Can you please provide approx homeowners insurance rates in your area in NJ ?

Rates for Middlesex county preferred.

I just want to get a feel of what the homeowners insurance rates are like in NJ and specifically Middlesex county ?


Thanks in advance for your help.

[ylc99999]

I used to pay $400+ a year, but ever since I paid off the mortgage, the homeowner insurance is cancelled ... my neighbors paying over $1,000 a year now. It has something to do with the house price. When housing price surge, so were homeowner insurance ...

[precator]

I pay 799 on a 450k house in mon county

[CuCullin]

$325/yr, $225k home value

[brookdaleresident]

Originally Posted by ylc99999

I used to pay $400+ a year, but ever since I paid off the mortgage, the homeowner insurance is cancelled ... my neighbors paying over $1,000 a year now. It has something to do with the house price. When housing price surge, so were homeowner insurance ...

You have no homeowner's insurance?

I'm in Essex and pay about $700. Cost will vary by value of house and location, obviously.

[joev11]

Originally Posted by ylc99999

I used to pay $400+ a year, but ever since I paid off the mortgage, the homeowner insurance is cancelled ... my neighbors paying over $1,000 a year now. It has something to do with the house price. When housing price surge, so were homeowner insurance ...

None of my business but what will you do if there is a fire?

[RobRiguez]

Im in Edison. 650yr on a 475k house.

[Diane Giam]

Originally Posted by ylc99999

I used to pay $400+ a year, but ever since I paid off the mortgage, the homeowner insurance is cancelled ... my neighbors paying over $1,000 a year now. It has something to do with the house price. When housing price surge, so were homeowner insurance ...

You mean you have None? That is Dangerous. What if someone falls on your property? What if your house goes on fire? There are a Million more reasons to have insurance.
I've had the same agrument with a friend who was considering canceling hers. Not a very bright thing to do. She didn't at the end when I told her someone could fall, sue her, and she would be libal and lose everything.
I also carry an umbrella policy.
Who do you think paid the $235,000 when I had the oil leak in NJ from the underground tank? My insurance company of course.

[tahiti]

Originally Posted by Diane Giam

You mean you have None? That is Dangerous. What if someone falls on your property? What if your house goes on fire? There are a Million more reasons to have insurance.
I've had the same agrument with a friend who was considering canceling hers. Not a very bright thing to do. She didn't at the end when I told her someone could fall, sue her, and she would be libal and lose everything.
I also carry an umbrella policy.
Who do you think paid the $235,000 when I had the oil leak in NJ from the underground tank? My insurance company of course.

exactly. this is a house, not a 1985 chevette. i also advocate an umbrella policy as well.

[vmcpc]

Originally Posted by ylc99999

I used to pay $400+ a year, but ever since I paid off the mortgage, the homeowner insurance is cancelled ... my neighbors paying over $1,000 a year now. It has something to do with the house price. When housing price surge, so were homeowner insurance ...

not exactly a smart move there - not having home insurance is a horrible way to go about trying to save some $$. i do work in the insurance industry and would highly reccommend that you reinsure your home - there's just so much that can happen and that's a huge risk you're taking. an umbrella policy as tahiti mentioned is a great idea as well - for everyone.

as far as prices for insurance - it depends on the mortgage amount (when closing) and after - the replacement cost (not market value!). then the location of the home is taken into consideration as well - works like car insurance to a point really....hope that helps!