Updated: November 27, 2024
Advertising & Editorial Disclosure
In Newark, NJ, Chubb is both the overall best and cheapest choice for home insurance. It is also the best in customer service.
Choosing the best inexpensive home insurance depends on what you value, such as costs or how a company helps when you have questions or problems.
Best HomeInsuranceNewark, NJTable of Contents
Why Trust MoneyGeek? We used information from New Jersey's Department of Insurance and Quadrant Information Services to find the best homeowners insurance in Newark. Our recommendations are backed by strong data and industry standards.
Home insurance premiums in Newark represent the most competitive rates as of September 2024.
MoneyGeek found that Chubb is the best option in Newark, NJ, with a MoneyGeek score of 98 out of 100 for 100K dwelling coverage.
The scores for home insurance companies in Newark range from 42 to 98. These figures are based on MoneyGeek's scoring system, and insurers may have different scores depending on your credit history and the age of your home.
| Chubb | 98 | $415 |
| Farmers | 81 | $665 |
| State Farm | 80 | $942 |
| Narragansett Bay Insurance Company | 79 | $844 |
| New Jersey Skylands | 65 | $617 |
| ASI | 62 | $1,111 |
| The Hanover | 52 | $1,939 |
MoneyGeek found that Chubb is the best option for $100K dwelling coverage in Newark, NJ. When it comes to protecting your home in Newark, the two best overall home insurance providers for $100K dwelling coverage are:
Chubb stands out as the best home insurance provider due to its excellent customer satisfaction and affordability.
Newark, NJ, homeowners have a choice among various companies, each offering different costs and service experiences. While affordability is key, other factors — such as customer support and coverage options — are important, especially when filing a claim.
Chubb scores high on affordability and satisfaction. Discounts on protective devices and new homes help policyholders save. For example, installing security devices can get you a discount.
Chubb provides comprehensive coverage for homeowners. Guaranteed replacement cost covers rebuilding your home even if costs exceed policy limits. Building ordinance or law coverage helps bring your home up to current codes after a loss. Cash settlement offers a payout if you choose not to rebuild.
MoneyGeek found that Chubb offers the best customer service in home insurance in Newark, NJ, for 100K dwelling coverage. Here are the top providers for this coverage level:
Chubb stands out as the top choice because of its impressive customer satisfaction and affordable annual premium. Excellent service in home insurance involves providing responsive support and comprehensive coverage at competitive pricing.
Chubb is the best for service quality, thanks to its high customer satisfaction and coverage scores. You can save with discounts on new homes and home renovations. For example, you get a discount if your home is 7 years old or less.
Chubb provides comprehensive coverage like guaranteed replacement cost, which helps rebuild your home even if costs exceed your policy limit. Building ordinance or law coverage pays to update your home to current codes. Cash settlement, on the other hand, lets you choose a cash payout if you decide not to rebuild after a total loss.
MoneyGeek found that Chubb is the best cheap home insurance option in Newark, NJ, for $100K dwelling coverage. The top two best cheap insurance providers for $100K dwelling coverage are:
Chubb ranks highest because of its affordability and customer satisfaction scores. While cheap home insurance saves you money, it may not cover everything you need if an accident happens. In instances where saving on premiums is a priority, considering the most affordable homeowner insurance companies may be beneficial.
What sets the best cheap home insurance apart from the cheapest is its value for money, balancing cost with the coverage that meets a homeowner's needs without being expensive.
Chubb is the best cheap company with a high MoneyGeek score due to its affordability and coverage. It provides discounts on new homes and home renovations. You can save if your home is 7 or 10 years old or less.
Chubb's coverage includes guaranteed replacement cost, which helps rebuild your home after a loss. Building ordinance or law coverage pays for updates to meet current codes. Cash settlement lets you choose not to rebuild and get a cash payout instead.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
Rates updated:
Dec 23, 2024
Homeowners insurance in Newark is affected by many factors, with location being one. Comparing insurance rates is the best way to save, but it can take 15 minutes per company, totaling over an hour when comparing three or more. MoneyGeek's home insurance calculator saves you time. Enter your age, coverage, credit score and deductible to get a rate estimate instantly.
Chubb stands out in Newark, NJ, as the most cost-effective option for homeowners insurance. The following companies offer the lowest annual premiums in their respective dwelling coverage categories:
Chubb stands out in Newark with the highest MoneyGeek score and lowest premium for $100K coverage. While New Jersey Skylands offers the lowest rates for $250K and $500K coverage, it does not have the highest MoneyGeek score. Choosing the right amount of dwelling coverage is essential as it significantly affects the insurance premium.
Securing the cheapest homeowners insurance in New Jersey can be a smart strategy to handle personal finances better.
| Chubb | $415 |
| New Jersey Skylands | $617 |
| Farmers | $665 |
| Narragansett Bay Insurance Company | $844 |
| State Farm | $942 |
| ASI | $1,111 |
| The Hanover | $1,939 |
For high-value homes in Newark, NJ, New Jersey Skylands offers the lowest yearly cost for a $750K dwelling coverage policy. Higher home values require more insurance because it costs more to fix or rebuild them, which is why home insurance costs can be higher.
New Jersey Skylands stands out in Newark, offering the lowest cost for protecting expensive homes. While cost is essential, the insurer also receives a high rating from MoneyGeek, suggesting that being the least expensive doesn't mean compromising quality.
| New Jersey Skylands | $2,093 |
| Chubb | $2,727 |
| Farmers | $3,639 |
| The Hanover | $3,825 |
| State Farm | $3,963 |
| Narragansett Bay Insurance Company | $4,100 |
| ASI | $5,142 |
Chubb offers the cheapest home insurance for new homes requiring $100K in dwelling coverage in Newark, NJ.
Chubb stands out as the least expensive mainly due to its low annual premium. However, having the lowest rates may not equal the best service quality. When securing home insurance, ensuring adequate coverage for your property is essential.
| Chubb | $312 |
| Farmers | $353 |
| New Jersey Skylands | $439 |
| ASI | $455 |
| State Farm | $556 |
| Narragansett Bay Insurance Company | $734 |
| The Hanover | $1,273 |
Securing the best cheap homeowners insurance is about finding a provider that delivers excellent customer service and comprehensive coverage at an affordable rate. Providers that achieve this balance offer peace of mind without breaking the bank, ensuring you are well protected from various risks to your home.
To guide you through the process, we outlined key factors to consider when seeking the best and most affordable homeowners insurance for your home.
To determine how much home insurance coverage you need, consider the specifics of your home in Newark, NJ. Think about rebuilding costs, personal property value and liability requirements.
Research insurance companies serving Newark, NJ. Focus on those with solid financial stability, positive customer feedback and a proven service record.
Once you understand your coverage needs, compare home insurance quotes. In Newark, New Jersey, premiums for $100K dwelling coverage range from $415 with Chubb to $1,111 with ASI annually.
Inquire with each provider about possible discounts, such as those for policy bundling, installing safety systems or maintaining a claims-free record.
Opting for a higher home insurance deductible can reduce your premium, but ensure it's an amount you can pay if needed.
Installing security systems and sturdy locks can lower your home's risk profile and potentially reduce insurance costs.
Keep a good credit score as it can impact your insurance rates in Newark, NJ. Pay bills on time and reduce outstanding debts.
Consider bundling your homeowners insurance with other policies, like auto insurance, to achieve substantial discounts and savings.
The best cheap home insurance provider in Newark depends on your coverage needs and budget. Get answers to common questions about the best cheap insurance rates in Newark, New Jersey.
The average cost of home insurance in Newark, New Jersey, is $699 per year.
The cheapest home insurance company in Newark, New Jersey, is Chubb, offering an annual premium of $415.
The best home insurance in New Jersey for Newark residents is provided by Chubb, with a MoneyGeek score of 98 out of 100.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
