Newark Homeowners Insurance

The Zebra
Aug. 26, 2019

How to find affordable homeowners insurance in Newark


A critical consideration for every homeowner should be their home insurance coverage. Along with personal property, homeowners insurance covers your dwelling against many different perils, including fire, wind damage, vandalism, and theft. Incidents like this occur often. When paired with the high cost of repairing or rebuilding a home, purchasing an expansive homeowners policy can seem like a smart idea.

The cost of homeowners insurance coverage factors in variables such as the cost of building materials, the value of your personal belongings, and the overall value of the primary dwelling. Location also plays a role in determining the price of your homeowners insurance policy. In areas prone to perils like hail, frozen pipes, volcanoes, or fire, home insurance policies may be more expensive to account for the extra risk. Discover more info about what a home insurance policy covers.

If you want to find cheap home insurance coverage in Newark, start with looking around and comparing different policies. Take a look at the summary below showing average Newark homeowners insurance rates to ensure you start your search with as much background info as possible. Remember: your homeowners insurance costs may vary based on your coverage limits and other factors.


Newark, New Jersey, homeowners insurance:
  1. Rates by company
  2. Rates by coverage level
  3. Rates by ZIP code
  4. Insurance bundle discounts

Homeowners insurance in Newark by insurance company

Homeowners insurance rates in Newark vary from one insurance company to another. The most inexpensive home insurance in Newark comes from New Jersey Skylands, which offers average annual rates of just $527 per year. This is more favorable than the city’s average home insurance premium of $1,113.

Have a look at the cheapest insurance companies in Newark, New Jersey to find the right homeowners policy for your needs.


AFFORDABLE HOMEOWNERS INSURANCE COMPANIES IN NEWARK
CompanyAverage Annual Rate
New Jersey Skylands$527
Cumberland Insurance Group$736
Fidelity$773
State Farm$820
New Jersey Manufacturers$912

Average homeowners insurance costs in Newark by coverage level

The amount of homeowners coverage you select has an impact on the insurance premiums you pay. In Newark, carrying $200K dwelling coverage costs an average of $796, while carrying additional coverage up to $400K costs $1,404 per year.


HOMEOWNERS INSURANCE RATES IN NEWARK — POPULAR COVERAGE LIMITS
Coverage LevelAverage Annual Rate
$200K Dwelling$796
$400K Dwelling$1,404

Speak with a homeowners insurance expert

Newark home insurance rates by ZIP code

Home insurance costs can vary depending on what area of Newark in which you live. Policies are often priced on local variables such as the number of claims filed in the immediate area, meaning the neighborhood in which you live could have a major impact on how much you pay to insure your home.

The cheapest home insurance rates in Newark are available in 7105. In 7105, the typical home insurance policy costs $1,092 per year — $20 less than the citywide average in Newark. Find the best places to live in Newark for cheap home insurance by looking at the table below.


AFFORDABLE ZIP CODES FOR HOMEOWNERS INSURANCE IN NEWARK
ZIP CodeAverage Annual Home Insurance Rate
7105$1,092
7114$1,093
7102$1,100

Other parts of Newark, however, are prone to homeowners insurance costs that are higher on average. These areas of the city could be more susceptible to perils such as theft, severe weather, or fires that present more risk for insurance companies. One of the costliest ZIP codes for homeowners coverage in Newark is 7106, with an annual average rate of $1,127.


EXPENSIVE AREAS FOR HOMEOWNERS INSURANCE IN NEWARK
ZIP CodeAverage Annual Home Insurance Rate
7106$1,127
7104$1,126
7108$1,123

Money-saving tip: bundle home and auto insurance in Newark

If saving money is your main concern, it might be worth insuring your home and auto through the same insurance company. Bundling your homeowners and auto insurance is one way to save substantially on your monthly car insurance premiums. By bundling your policies, Newark homeowners could see annual savings of 10% on average.


CHEAPEST AUTO INSURANCE RATES WITH HOME BUNDLE IN NEWARK
CompanyAvg. Annual Auto Insurance Rate (Bundle)
New Jersey Manufacturers$1,371
GEICO$1,538
Progressive$1,726
State Farm$1,925
Allstate$2,093

Bundling your homeowners and auto policies can be a great way to save some money on insurance. Call 855-493-9728 to speak with an insurance expert today.


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