Average homeowners insurance cost in Newark, DE

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In Newark, homeowners pay an average annual rate of $1,087 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $1,417 less than the national average of $2,504.

Homeowners insurance premiums can vary significantly from one property to another. In Newark, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage required
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 this 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

The average cost of homeowners insurance in Newark is $1,087 per year.
Cumberland Insurance is the cheapest homeowners insurance company in Newark with an average annual premium of $883.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $243 more a year for home insurance.

Average homeowners insurance cost in Newark per month

According to Insure.com’s rate analysis, residents of Newark pay an average of $91 per month for homeowners insurance. This is $23 less than the state average of $114 and $118 less than the national average for home insurance across the United States. The cost of your homeowners insurance policy in Newark can vary depending on your location, property value, and selected coverage options.

Average homeowners insurance cost for a $200,000 house in Newark

The average cost of homeowners insurance in Newark, DE is $844 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.

Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.

Average homeowners insurance cost for a $300,000 house in Newark

According to a rate analysis by Insure.com, homeowners in Newark pay an average of $1,087 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $243 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

Average homeowners insurance cost in Newark by company

Among the carriers analyzed, Cumberland Insurance is the most affordable homeowners insurance company in Newark. It’s average annual rate for homeowners in Newark is $883.

Travelers, ranks second and State Farm makes it to the third spot with an average annual home insurance rate of $1,104.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Newark and compiled a list of the most affordable home insurance companies.

Below are details of Newark home insurance companies 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

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.