Newark Insurance Rates:

Newark, NJ home insurance is approximately $711 to $964, about $59-$80/month. Our thorough guide indicates shoppers can save upto $334 by comparing multiple quotes

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Read Newark, New Jersey Homeowners Insurance reviews & compare quotes to find the most reliable & cheapest quotes.

Newark Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Liberty Mutual
Home Insurance Rate of $780/8 months for $250000-$300000 Coverage
Policy Holder Home Details :

Home Value : $270,000

3 Beds, 3 Baths 2320 sqft Rental Property Constructed In 1972 with Ceramic Tile Flooring, Slate Shingles Roof, Chainwall Foundation, Stucco siding, Wood Frame. Home Features Include Fire Extinguisher, Central Air Conditioning, Deadbolt Locks, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

27 Years old Married Female who has a Part Time Job with household income of less than $25,000 and has 2 Pets and is a Non-Smoker

Additional Details :
  • 50-75% Mortgage Paid off

  • 750-799 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $450/8 months for $200000-$250000 Coverage
Policy Holder Home Details :

Home Value : $190,000

2 Beds, 2 Bath 1210 sqft Rental Property Constructed In 1971 with Stone Flooring, Tile Roof, Piers Foundation, Brick siding, Brick Frame. Home Features Include Copper Water Pipes, Fire Extinguisher, Circuit Breaker Electricals and Security by Monitoring Company

About Policy Holder:

35 Years old Single Female who is a Freelancer with household income of more than $150,000 and has No Pets and is a Non-Smoker

Additional Details :
  • 50-75% Mortgage Paid off

  • Up to 499 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $160/3 months for $175000-$200000 Coverage
Policy Holder Home Details :

Home Value : $215,000

3 Beds, 3 Bath 1650 sqft Rental Property Constructed In 2014 with Linoleum, Metal Roof, Crawl Space Foundation, Vinyl siding, Metal Frame Construction. Home Features Include Swimming Pool, Fireplace, Fire Extinguisher, Deadbolt Locks, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

33 Years old Single Male who has a Full Time Job with household income of $50-$75,000 and has 2 Pets and is a Smoker

Additional Details :
  • 25-50% Mortgage Paid off

  • 650-699 Credit Score

  • Seniors staying at home

Home Insurance Rate of $950/6 months for $400000-$500000 Coverage
Policy Holder Home Details :

Home Value : $450,000

4 Beds, 4 Bath 3300 sqft Vacation Property Constructed In 1972 with Hardwood Flooring, Membrane Roof, Piers Foundation, Stucco siding, Brick Frame. Home Features Include Deadbolt Locks, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

25 Years old Single Female who has a Part Time Job with household income of $25-50,000 and has 1 Pet and is a Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 550-599 Credit Score

  • Guests at home

Home Insurance Rate of $260/7 months for $50,000-$75,000 Coverage
Policy Holder Home Details :

Home Value : $70,000

1 Bed, 1 Bath 748 sqft Primary Residence Constructed In 1959 with Stone Flooring, Wood Shake Roof, Chainwall Foundation, Stone Siding, Stucco Construction. Home Features Include Copper Water Pipes, Fireplace, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

74 Years old Single Male who is a Freelancer with household income of less than $25,000 and has No Pets and is a Non-Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 500-549 Credit Score

  • Seniors staying at home

Newark Rates & Quotes Analysis:

Newark Area Estimated House Insurance
Federal Sq, Crawford St, Garden St, Abington Ave W, Nursery St, Rowley St, Komorn St, Evergreen Ln, Clara Maass Dr, Treadwell St$853
Nichols St, Brenner St, Clipper St, W Alpine St, Eckert Ave, 19th Ave, Esther St, Vanderpool St, Frelinghuysen Ave, Hazelwood Ave$832
Waydell St, Clifton St, Distribution St, Van Wagenen St, N 14th St, Mount Prospect Pl, Downing St, Margaretta St, Wicker Ct, Tuxedo Pkwy$855
Beaman Plz, Longworth St, Catherine St, Hanover St, Seymour Ave, Boston Ct, Tichener Ln, Ashby Ln, W Grove Ter, Elliott St$865
Seabury Ct, Hamilton St, Mulberry St, Mitchell Pl, Eagles St, Kerrigan Blvd, Cutler St, Bruen St, Boyden St, Treacy Ave$875

Insurance rates are influenced by a number of factors including:

  • Year Built: 15,559 Homes (14% of total homes ) built between 1940 to 1949 in Newark are paying home insurance between $1,680-$1,693. Places close to Newark, NJ such as Harrison, East Newark, Kearny are more expensive by $44, $39, $49 respectively while Irvington and New York County(NY) are cheaper by $18 and $210 respectively for similar homes.
  • Bedrooms: 37,520 2 bedrooms homes (36% of total homes ) in Newark are paying about $352 and differs from Harrison (+$9), East Newark (+$8), Kearny (+$10), Irvington (-$4) and New York County(NY) (-$88).
  • Auto Insurance Bundling: 7,086 Households (32% of all households) in Newark have 2 vehicles available and when it is bundled with home insurance you can save $167. Discounts for similar bundling in close by locations such as Harrison, East Newark, Irvington come to $171, $171, $165 respectively.
  • Senior Discounts: 10,549 seniors (more than 55 years) occupied housing units (48% of total) in Newark get discounts between $125 to $127. The comparative concessions in proximate regions such as Harrison, Irvington and Kearny are $128, $124 and $129 respectively.
  • New Homes discounts: New homes such as the 36,190 homes built between 2000 to 2009 in Newark can save $167 compared to Harrison ($171), East Newark ($171), Irvington ($165).

Newark Homeowners insurance Facts

  • Newark, NJ has 21,652 owner occupied houses which is 23.5% of all units whereas Harrison, East Newark and Irvington have 31.62%, 29.58% and 33.32% respectively.
  • Newark, NJ homeowners yearly insurance price at $837 is 0.32% of the typical house value of $264,400 which is in contrast with 0.26% in Harrison, 0.26% at East Newark & 0.36% in Irvington.
  • Homeowners in Newark, NJ pay 1.24% of their income ($60,000 to $74,999) in insurance whereas homeowners in Harrison, East Newark and Irvington pay 1.27%, 1.27% and 1.23% respectively.
  • Newark, NJ’s insurance is 3.1% of monthly housing costs of $2,277/month, for owners with a mortgage compared to 2.58% in Harrison, 3.19% at East Newark & 3.01% in Irvington. But, for households without a mortgage, insurance is 8.2% of costs ($856 in Newark, NJ) in contrast with 7.91% in Harrison, 7.59% at East Newark & 8.1% in Irvington.

Newark, NJ Home Values & Insurance rates

For example, insurance for 202 Homes (1.0% of total homes ) valued between $80,000 to $89,999 in Newark, NJ is about $267. Rates in nearby areas in such as Kearny, City of Orange, Hudson County are cheaper by $61, $7, $68 respectively while East Orange and Winfield are costlier by $15 and $7 respectively for similar homes.

Newark, NJ Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 557 3.0% $75
$70,000 to $79,999 201 1.0% $234
$80,000 to $89,999 202 1.0% $267
$90,000 to $99,999 203 1.0% $292
$100,000 to $124,999 948 5.0% $343
$125,000 to $149,999 886 4.0% $435
$150,000 to $174,999 1,822 9.0% $510
$175,000 to $199,999 1,693 9.0% $585
$200,000 to $249,999 3,120 17.0% $711
$250,000 to $299,999 3,874 21.0% $870
$300,000 to $399,999 4,680 25.0% $1104

Renters Insurance in Newark

  • Average Renters Insurance in Newark :  $157($13/month)

  • Median Gross Rent in Newark :  $954

  • Newark Renters Insurance to Median Rent Ratio:  1.36%

  • Average household size of renter-occupied unit :  2.74

Newark Renters Insurance as a Percentage of Rent

Newark Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
Less than $200 3,088 4.0% $339
$200 to $299 4,744 6.0% $789
$300 to $499 4,714 6.0% $1239
$500 to $749 8,431 12.0% $1914
$750 to $999 16,986 24.0% $2664
$1,000 to $1,499 23,764 34.0% $3789
$1,500 or more 7,795 11.0% $5439

Rent Affordability in Newark:

Approximately 49.0% (34,953) of households are spending more than 35% of their income on gross rent in Newark

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 7,565 10.0%
15.0 to 19.9 percent 6,698 9.0%
20.0 to 24.9 percent 6,788 9.0%
25.0 to 29.9 percent 7,737 10.0%
30.0 to 34.9 percent 6,910 9.0%
35.0 percent or more 34,953 49.0%

Protective device discount in Newark Up to :  $23

Claims-free discount in Newark Up to :  $31