Home Insurance in New Providence, New Jersey
The median home value in New Providence is $769,900, 45% higher than the Union County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in New Providence was built around 1962. About 46% of homes were built before 1960, about 12 points below Union County's 58%.
In New Providence, the housing stock is 68% single-family homes and 22% apartments in buildings with 5+ units.
In New Providence, about 60% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 76% of occupied homes in New Providence are owner-occupied.
Most homes in New Providence - 88% - are primarily heated with natural gas.
FEMA rates Union County's overall risk as Relatively High, led by strong wind (Very High). Union County had 4,341 active NFIP flood policies as of September 2026. See the full Union County home insurance overview for all FEMA hazard ratings and flood coverage details.
In New Jersey, the statewide average premium for a standard HO-3 homeowners policy is $1,551 per year (NAIC, 2023 data).
Key figures
| Median home value | $769,900 |
|---|---|
| Median year built | 1962 |
| Owner-occupied share | 76% |
| Share of owner-occupied homes with a mortgage | 60% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Union County | 4,341 |
| Home insurance premium | $1,551 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)