Average Renters Insurance Cost in New Jersey

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Renters insurance costs in New Jersey vary depending on various factors, including the coverage amount, insurance company and individual circumstances. The average cost of renters insurance in New Jersey is $207 per year or $17 per month for a coverage limit of $40,000 for personal property coverage, $300,000 in liability coverage and a $1000 deductible. These are average rates, and actual premiums may differ.

Key Takeaways

The average cost of renters insurance in New Jersey is $207 per year or $17 per month.
New Jersey Manufacturers provides the least expensive renters insurance in New Jersey at an average rate of $128 annually.
Renters insurance rates can vary significantly among insurance companies. Compare quotes to find the best deal on renters insurance in New Jersey.

Average renters insurance cost in New Jersey per month

In New Jersey, the average monthly cost of renters insurance is $17. However, premiums can differ depending on factors such as your rental’s location, the value of your personal belongings and the level of coverage you select. Experts recommend comparing quotes from different insurance companies to find the best deal.

Average renters ins cost per month	Difference compared to national average
$17	$5 less

Average renters insurance cost in New Jersey by company

Renters in New Jersey can find the most budget-friendly insurance with New Jersey Manufacturers, which has an average annual cost of $128, according to our data. Other affordable options include State Farm and American Family.

It’s a good idea to gather quotes from at least three insurance providers, as each company calculates premiums differently.

Below are the average annual and monthly renters insurance rates from various insurers in New Jersey.

Company	Average annual rate	Average monthly rate
New Jersey Manufacturers	$128	$11
State Farm	$148	$12
American Family	$155	$13
Chubb Ltd	$206	$17
Franklin Mutual	$224	$19
Allstate	$225	$19
Farmers	$263	$22
Plymouth Rock Assurance	$314	$26
USAA*	$178	$15

*USAA is only available to military community members and their families.

Renters insurance calculator in New Jersey

$190/year

Estimated renters insurance rates in New Jersey

$16

Monthly renters insurance cost in New Jersey

-23%

Compared to national average

Average cost of renters insurance in New Jersey by coverage level

On average, New Jersey renters pay $207 each year for insurance for a coverage limit of $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

Reducing your personal property coverage from $40,000 to $20,000 can lower your renters insurance cost in New Jersey to $151 per year. This policy still includes $300,000 in liability protection and a $1,000 deductible. However, you should ensure that $20,000 is adequate coverage for your personal belongings before making this change.

Below are the average annual renters insurance costs in New Jersey for personal property coverage of $20,000 and $40,000.

Coverage level	Average annual renters insurance rate	Average monthly renters insurance rate
$20,000 with $500 Deductible and $100,000 Liability	$146	$12
$20,000 with $500 Deductible and $300,000 Liability	$163	$14
$20,000 with $1,000 Deductible and $100,000 Liability	$134	$11
$20,000 with $1,000 Deductible and $300,000 Liability	$151	$13
$40,000 with $500 Deductible and $100,000 Liability	$207	$17
$40,000 with $500 Deductible and $300,000 Liability	$224	$19
$40,000 with $1,000 Deductible and $100,000 Liability	$190	$16
$40,000 with $1,000 Deductible and $300,000 Liability	$207	$17
$60,000 with $500 Deductible and $100,000 Liability	$273	$23
$60,000 with $500 Deductible and $300,000 Liability	$290	$24
$60,000 with $1,000 Deductible and $100,000 Liability	$250	$21
$60,000 with $1,000 Deductible and $300,000 Liability	$267	$22

Average cost of renters insurance in New Jersey by city

Renters insurance premiums can vary widely between cities. To help you choose the right policy, we’ve compiled average costs by location. Explore renters insurance rates across various cities in New Jersey and find the best fit for your budget.

Renters insurance rates in New Jersey by city

See rates in your city

Jersey City

Lakewood

Average cost of renters insurance in New Jersey by ZIP code

In New Jersey, the cost of renters insurance can vary significantly across ZIP codes. Here, we’ll show you the ZIP codes where renters insurance is most affordable and where it costs the most.

Most affordable ZIP codes for renters insurance in New Jersey

How much New Jersey renters pay for insurance depends on the ZIP code they live in. 7829 is the most affordable ZIP code for renters insurance in New Jersey among all the ZIP codes analyzed, at $184 a year on average.

Rates vary by ZIP code, so comparing quotes is one of the easiest ways to get the best deal on renters insurance in New Jersey.

ZIP code	City	Average annual rate	Average monthly rate
7829	Buttzville	$184	$15
7846	Johnsonburg	$184	$15
7823	Belvidere	$185	$15
7825	Blairstown	$185	$15
7832	Columbia	$185	$15
7838	Great Meadows	$185	$15
7863	Oxford	$185	$15
7840	Beattystown	$185	$15
7865	Port Murray	$185	$15
7880	Vienna	$185	$15

Least affordable ZIP codes for renters insurance in New Jersey

Your ZIP code, among other factors, affects how much you pay for renters insurance in New Jersey. 7112 is the least affordable ZIP code for New Jersey renters at an average cost of $239 a year or $20 monthly.

We have analyzed quotes from the major insurance carriers across all the ZIP codes in New Jersey. Below are the average annual renters insurance costs by ZIP code.

ZIP code	City	Average annual rate	Average monthly rate
7112	Newark	$239	$20
8201	Absecon	$236	$20

Final thoughts: Average renters insurance in New Jersey

Renters insurance is a must-have for renters in New Jersey. It protects your belongings in the event of damage from fire, theft, vandalism or any other natural disasters.

To find the best renters insurance at an affordable rate, shop around and compare quotes from multiple insurance companies. In addition to price, consider factors like coverage options, deductibles and customer reviews.

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.