Updated: June 4, 2026
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Most affordable home insurance in Newark: Chubb
Newark's best home insurance: Chubb
Average Newark home insurance premium: $2,024
Newark premiums are below New Jersey's state average. Chubb is the furthest below the Newark average at $988 a year, which is 51% less than the city average of $2,024.
MoneyGeek's five most affordable Newark home insurance carriers by average annual premium: Chubb, USAA, Farmers, State Farm and Progressive.
Finding the cheapest home insurance in Newark requires quotes from multiple carriers. Rates vary widely across insurers even when coverage limits are identical.
| Chubb | $988 | -51% |
| USAA | $1,382 | -32% |
| Farmers | $1,418 | -30% |
| State Farm | $1,789 | -12% |
| Progressive | $1,934 | -4% |
*Rates are for a 2,500-square-foot home built in 2000, with $250,000 of dwelling coverage and a $1,000 deductible.
Newark homeowners pay $2,024 per year for coverage, which runs 14% above the New Jersey average cost of $1,771. Crime rates and natural disaster exposure push premiums higher across the city. That said, the most affordable Newark providers come in below both the city and state averages, so comparing quotes can put real money back in your pocket.
Newark residents have several reliable home insurance options, with Chubb earning the highest overall score for its balance of cost, coverage and service. MoneyGeek evaluates affordability, policy features and customer experience when ranking providers to help you choose the best homeowners insurance for your needs.
Newark's top five homeowners insurance companies are Chubb, USAA, State Farm, Farmers and The Hanover.
| USAA | 4.89 | $1,382 |
| Chubb | 4.83 | $988 |
| State Farm | 4.48 | $1,789 |
| Farmers | 4.45 | $1,418 |
| The Hanover | 4.13 | $2,688 |
*USAA membership is limited to military-affiliated individuals. Although it earned the highest MoneyGeek score, we ranked it No. 2 due to its eligibility requirements.
Our Top Recommendation for Newark Homeowners
Average Annual Premium
J.D. Power Customer Satisfaction Score
Number of Discounts
Higher coverage limits raise your premium and reduce your exposure if rebuilding costs exceed what a lower-limit policy pays. In Newark, Chubb posts the lowest rates across most coverage levels, which means homeowners can increase limits without a large jump in annual cost.
| $100K Dwelling / $50K Personal Property / $100K Liability | Chubb | $422 |
| $250K Dwelling / $125K Personal Property / $200K Liability | Chubb | $988 |
| $500K Dwelling / $250K Personal Property / $300K Liability | Chubb | $1,856 |
| $750K Dwelling / $375K Personal Property / $500K Liability | Chubb | $2,793 |
| $1MM Dwelling / $500K Personal Property / $1MM Liability | USAA | $3,654 |
Homes built in the middle years tend to have the lowest insurance costs in Newark, while newer properties come in slightly higher. Houses built before 1980 carry the highest premiums in the area.
| Newer | Chubb | $851 |
| Middle Age | Chubb | $988 |
| Older | Chubb | $1,009 |
Newark insurers factor in credit-based insurance scores when setting premiums, which is why your credit history affects what you pay. Homeowners with excellent credit receive the lowest rates, while those with poor credit pay more for the same coverage. Chubb posts the lowest rates across most credit levels, although Farmers comes in lower for homeowners with excellent credit.
| Chubb | $102 | $1,225 |
| Farmers | $141 | $1,689 |
| USAA | $148 | $1,778 |
| Progressive | $171 | $2,056 |
| State Farm | $180 | $2,160 |
Affordable home insurance in Newark starts with comparing quotes from multiple carriers and matching coverage limits to your property's actual risk profile.
Determine how much home insurance you need before contacting any carrier. Fixed limits make rate comparisons accurate and prevent agents from anchoring on higher coverage than your property requires.
Newark premiums vary across carriers for the same coverage. MoneyGeek's best homeowners insurance in New Jersey analysis identifies which carriers balance cost, service and coverage for Newark properties.
Price is one factor. Check J.D. Power ratings, NAIC complaint data, Trustpilot reviews and Reddit for each carrier's claims handling and service track record before shortlisting.
Contact at least three insurers for home insurance quotes to get your lowest rate.
New Jersey law doesn't require home insurance, but banks require it through your loan term. Homeowners without mortgages should maintain coverage to guard against financial losses from fires, theft and liability claims that could devastate your finances.
Newark insurance companies assess property age, building materials, roof quality and fire station distance when setting rates. Area crime statistics influence pricing, while your credit, claims record and coverage selections also impact your premium.
Standard home insurance doesn't cover flood damage. Newark residents living near the Passaic River and other waterways must get separate flood insurance via NFIP or private companies to protect against flooding.
MoneyGeek analyzed home insurance premiums from 10 companies in Newark using data from Quadrant Information Services and customer satisfaction scores from J.D. Power surveys.
We collected quotes for a 2,500-square-foot home built in 2000 with $250,000 dwelling coverage, $125,000 personal property coverage, $200,000 liability coverage and a $1,000 deductible. We also gathered quotes for homes with different construction dates, coverage limits, deductibles and credit scores across multiple scenarios.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident insurance expert. He has spent nearly a decade analyzing the market, first at LendingTree and now at MoneyGeek, where he has produced original research on hundreds of carriers and millions of rates across auto, home, renters, health and life insurance.
He covers economics and insurance at MoneyGeek, and his work has been featured in The Washington Post, The New York Times and NPR, among other outlets.
Like all MoneyGeek analysts, he draws on independent cost and consumer experience data. No insurance company partnership influences his recommendations.
Fitzpatrick earned his degrees from Johns Hopkins University (M.A. Economics and International Relations) and Boston College (B.A.). He began his career in financial risk management at State Street. He's also a five-time “Jeopardy!” champion.
