ZIP 08403 Insurance Data

Data Snapshot: ZIP 08403 (Longport, NJ)

ZIP 08403 (Longport, NJ) shows an average homeowners insurance premium of $5,541 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 182 reported policies. That is 212% above the national average of $1,776 per year, placing this ZIP in the 99th percentile nationally. Compared to the New Jersey state average of $1,858, this ZIP runs 198% above, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 08403 is 3.2%, meaning insurers retained a working margin after claims. Claim frequency — the share of policies with at least one claim — is 4.35%, and the average claim severity (amount paid per claim) is $4,058. Nonrenewal — insurers declining to extend coverage at policy expiration — occurs at 0.98% in this ZIP, a rise of 157.1% over the past five years; rising nonrenewal often signals insurer retreat from high-risk markets.

Across 5 years (2018–2022), premiums in ZIP 08403 have fallen by 9.5%, ranging from $5,481 to $6,123 with a five-year average of $5,712 — an annualized rate of -2.5% 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.