How to find affordable homeowners insurance in Newark
One of the most important aspects of homeownership is home insurance. Along with your home furnishings and other belongings, homeowners insurance covers your dwelling against many different perils, including fire, wind damage, vandalism and theft. The typical homeowners insurance policy in Newark, New Jersey costs $92 per month. This is less than what the average American pays for home insurance.
What you pay for homeowners insurance depends on myriad factors, including the value of the dwelling, the value of your personal items and the materials used to construct the structure. Your home's location can also impact how much you pay, as some locations are more prone to destructive hazards. If your area is at risk of being affected by hail, strong winds, fire, frozen pipes, or volcanic activity, then your premiums could be substantially higher than average. Discover more about what homeowners insurance covers.
If you want to find cheaper homeowners insurance in Newark, start with shopping around and comparing a variety of different policies. Have a look at the summary below comparing average home insurance rates in Newark to help you get as much information as possible when you start your search for insurance. Remember: your homeowners insurance costs may vary based on your coverage limits and other factors.
Table of contents:
- Rates by insurer
- Rates by coverage amount
- Rates by ZIP code
- Rates by deductible amount
- Policy bundling savings
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Newark home insurance by company
Newark homeowners insurance rates vary depending on which insurance company you choose. The most affordable home insurance in Newark is New Jersey Skylands, offering average annual rates of just $527 per year. This is considerably cheaper than the city’s average homeowners premium of $1,113.
To get your search started, take a look at the below list of the lowest-cost home insurance companies in Newark, New Jersey. You can also check out our guide to the best home insurers which is based in part on the results of The Zebra's Customer Satisfaction Survey.
AFFORDABLE HOME INSURERS IN NEWARK
| Company | Average Annual Rate |
| New Jersey Skylands | $527 |
| Cumberland Insurance Group | $736 |
| Fidelity | $773 |
| State Farm | $820 |
| New Jersey Manufacturers | $912 |
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Newark homeowners insurance prices by coverage level
Your chosen amount of homeowners coverage has an impact on the insurance premiums you pay. Homeowners in Newark who carry $200K in dwelling coverage pay an average of $796 per year, while those with coverage up to $400K pay around $1,432 per year.
POPULAR COVERAGE LIMITS IN NEWARK
| Coverage Level | Average Annual Rate |
| $100,000 Dwelling | $505 |
| $200,000 Dwelling | $796 |
| $250,000 Dwelling | $954 |
| $400,000 Dwelling | $1,432 |
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Newark home insurance rates by ZIP code
Homeowners insurance premiums can vary depending on what part 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 07105. In this ZIP, the typical home insurance policy costs $1,092 per year — $20 less than the citywide average in Newark. The below table shows the best places to live in Newark if you’re looking for affordable homeowners insurance.
AFFORDABLE HOME INSURANCE AREAS IN NEWARK
| ZIP Code | Average Annual Home Insurance Rate |
| 07105 | $1,092 |
| 07114 | $1,093 |
| 07102 | $1,100 |
On the other hand, some areas of Newark face higher homeowners insurance costs, on average. Fire risks, crime rates, and even your how close you are to emergency services could lead insurance companies to see certain neighborhoods as higher risk, which could drive up area rates.
One of the costliest ZIP codes for homeowners insurance in Newark is 07106, with an annual average rate of $1,127.
EXPENSIVE HOME INSURANCE AREAS IN NEWARK
| ZIP Code | Average Annual Home Insurance Rate |
| 07106 | $1,127 |
| 07104 | $1,126 |
| 07108 | $1,123 |
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Newark homeowners insurance deductibles
Homeowners face a number of choices when shopping for a policy, including how high or low to set their deductible. A deductible is the amount you must pay out of pocket toward a covered loss. Where you choose to set your homeowners deductible is directly related to how much you pay in insurance premiums.
Put simply, having a higher deductible leads to lower insurance rates. As such, if you want lower insurance rates, aim for a higher deductible. It's worth noting that a home insurance deductible should only be as high as you can reasonably pay in the case of an actual loss.
Take a look at may of the typical deductibles offered by home insurance companies and an estimate of average premiums.
HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN NEWARK
| Deductible Level | Average Annual Homeowners Insurance Rate |
| $500 | $1,081 |
| $1,000 | $954 |
| $1,500 | $918 |
| $2,000 | $851 |
| $5,000 | $760 |
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Home and auto insurance bundling in Newark
If you’re seeking ways to save on your overall insurance costs, consider purchasing your home and auto policies from 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 CAR INSURANCE RATES WITH HOME BUNDLE IN NEWARK
| Company | Avg. Annual Auto Insurance Rate (With Bundle) |
| New Jersey Manufacturers | $1,371 |
| GEICO | $1,538 |
| Progressive | $1,726 |
| State Farm | $1,925 |
| Allstate | $2,093 |
Compare quotes on Newark, NJ home insurance today!
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.