ZIP 07438 Insurance Data

Data Snapshot: ZIP 07438 (Oak Ridge, NJ)

ZIP 07438 (Oak Ridge, NJ) shows an average homeowners insurance premium of $1,323 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 162 reported policies. That is 25% below the national average of $1,776 per year, placing this ZIP in the 33th percentile nationally. Compared to the New Jersey state average of $1,858, this ZIP runs 29% below, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 07438 is 27.1%, meaning insurers retained a working margin after claims. Claim frequency — the share of policies with at least one claim — is 4.30%, and the average claim severity (amount paid per claim) is $8,326. Nonrenewal — insurers declining to extend coverage at policy expiration — occurs at 0.44% in this ZIP, a rise of 12.4% over the past five years; rising nonrenewal often signals insurer retreat from high-risk markets.

Across 5 years (2018–2022), premiums in ZIP 07438 have fallen by 0.1%, ranging from $1,310 to $1,350 with a five-year average of $1,327 — an annualized rate of -0.0% per year. FIO data aggregates voluntary reporting from the 40 largest homeowners insurers, covering roughly 80% of the U.S. market, so figures represent market averages rather than individual policy quotes; your own premium will vary with dwelling value, deductible, coverage limits, construction type, and insurer-specific underwriting. This page is educational research only and is not insurance advice — homeowners should request quotes from multiple licensed carriers or an independent agent before purchasing or renewing coverage.