ZIP 08023 Insurance Data

Data Snapshot: ZIP 08023 (Deepwater, NJ)

ZIP 08023 (Deepwater, NJ) shows an average homeowners insurance premium of $1,347 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 173 reported policies. That is 24% below the national average of $1,776 per year, placing this ZIP in the 35th percentile nationally. Compared to the New Jersey state average of $1,858, this ZIP runs 28% below, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 08023 is 2.5%, meaning insurers retained a working margin after claims. Claim frequency — the share of policies with at least one claim — is 1.61%, and the average claim severity (amount paid per claim) is $2,072.

Across 5 years (2018–2022), premiums in ZIP 08023 have risen by 30.0%, ranging from $1,036 to $1,347 with a five-year average of $1,167 — an annualized rate of +6.8% 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.