Average homeowners insurance cost in Newark, Delaware

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Our data shows that the average cost of homeowners insurance in Newark is $1,087 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1,000 deductible). It’s $1,417 less than the national average of $2,504 .

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in Newark depend on several factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read our guide to discover the monthly homeowners insurance cost in Newark, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Newark.

Key Takeaways

Homeowners insurance costs $1,087 per year in Newark.
At $883 per year, Cumberland Insurance offers the cheapest homeowners insurance in Newark.
Your home insurance rates increase by $243 more annually if you increase your dwelling coverage from $200,000 to $300,000.

Average homeowners insurance cost in Newark per month

Residents of Newark pay an average of $91 a month for homeowners insurance. It’s $23 less than the state average of $114 and $118 less than the national average for home insurance across the nation.

The cost of your homeowners insurance policy in Newark may change based on location, property value, and selected coverage options.

Average homeowners insurance cost for a $200,000 house

Homeowners insurance with $200,000 in dwelling coverage and $100,000 in liability protection costs about $844 per year in Newark. Your rate can vary based on a number of factors, especially the risk of natural disasters in your area. Places more prone to floods, hurricanes, or tornadoes often face higher rebuilding costs, which leads to higher insurance premiums.

It is important to note that your insurance plan may not cover flood or hurricane damage. So, if you live in an area prone to flooding, consider buying flood insurance coverage.

Average homeowners insurance cost for a $300,000 house

Newark residents pay an average of $1,087 per year to insure a home for coverage limits of $300,000 dwelling, $100,000 liability with a $1,000 deductible. To increase your dwelling coverage from $200,000 to $300,000, you’ll pay an additional $243 per year.

The smartest approach is to carry enough insurance to cover the full cost of rebuilding your home.

Average homeowners insurance cost in Newark by company

After comparing several homeowners insurance companies, Cumberland Insurance offers the lowest rates in Newark. Its average annual rate for homeowners in Newark is $883 , while Travelers is the second-cheapest.

Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in Newark and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in Newark and their average annual premiums.

Home Insurance Company	Annual rate
Cumberland Insurance	$883
Travelers	$958
State Farm	$1,104
Allstate	$1,150
American Family	$1,340

Bundling your home insurance with other policies, like auto insurance, can lead to significant savings. Insurance companies often offer discounts for customers who combine multiple policies. By bundling, you can reduce your premiums and manage your insurance needs with one company.

Natural disasters in Delaware that can impact your home insurance

Living in Delaware means facing the risk of natural disasters that can seriously damage your home and belongings. These events can lead to expensive repairs and major insurance claims. That’s why it’s so important to understand which disasters are most likely in your area before choosing a home insurance policy.

Being aware of your local risks helps you choose the right level of protection, from setting appropriate coverage limits to deciding on deductibles or adding extra coverage. Taking the time to tailor your policy to those risks can help you avoid being underinsured and give you peace of mind if you’re impacted by a natural disaster.

Delaware is commonly affected by Coatal flooding, Heat wave and Winter weather.

How home insurance protects you against natural disasters

If your home is hit by a covered event, your insurance can help pay for repairs, replace your belongings, and even cover temporary housing if you can’t live in your home. Having the right coverage in place can make it a lot easier to get back on your feet after a disaster.

That said, not everything is automatically included. While most standard policies cover things like wind, hail, and lightning, you’ll usually need extra coverage for disasters like floods, earthquakes, or wildfires. It’s worth taking the time to understand exactly what your policy includes so there are no surprises when you need it most.

Check for coverage gaps before it’s too late

Many homeowners find out too late that their insurance doesn’t cover certain natural disasters. Be proactive – review your policy, ask your insurer about disaster-specific exclusions, and explore additional protection if you’re in a high-risk zone.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Newark for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.