Average Renters Insurance Cost in New Jersey

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Renters insurance costs in New Jersey varies depending on various factors, including the coverage amount, insurance company, and individual circumstances. But, the average renters insurance cost in New Jersey is $199 per year or $17 per month for coverage limits of $40,000 for personal property coverage, $300,000 in liability coverage and a $1000 deductible. These are average rates and actual premium costs may differ.

Renters insurance companies in New Jersey

State Farm offers affordable renters insurance in New Jersey at an average annual rate of $143 followed by New Jersey Manufacturers and American Family, based on Insure.com’s analysis.

But it’s smart to get multiple quotes for various renters insurance companies in New Jersey because the prices vary a lot among carriers.

Below we have compared the average annual and monthly renters insurance rates of insurance companies across New Jersey.

Company	Average annual rate	Average monthly rate
State Farm	$143	$12
New Jersey Manufacturers	$144	$12
American Family	$149	$12
USAA	$169	$14
Chubb Ltd	$213	$18
Franklin Mutual	$224	$19
Allstate	$225	$19
Farmers	$263	$22
Palisades	$355	$30

Average cost of renters insurance in New Jersey by coverage level

As we discussed above, in New Jersey, the average cost of renters insurance is $199 per year, that’s $68 more than the national average. These rates are for the coverage level of $40,000 for personal property coverage, $300,000 in liability coverage and a $1000 deductible.

However, if you lower the personal property coverage from $40,000 to $20,000, you will pay $148 per year for renters insurance in New Jersey for $300,000 in liability protection and $1000 deductible.

Find below the average cost of renters insurance 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
20000	$148	$12
40000	$199	$17
60000	$256	$21

Most affordable ZIP codes for renters insurance in New Jersey

How much New Jersey renters pay for insurance majorly depends on the ZIP code they live in. 7823 is the most affordable ZIP for renters insurance in New Jersey among all the ZIP codes analyzed, at about $181 a year on average.

Rates vary based on the zip code, that’s why comparing quotes is one of the easiest ways to get the best deal on renters insurance in New Jersey.

Zipcode	Average annual rate	Average monthly rate
7823	$181	$15
8808	$182	$15
7831	$185	$15
7855	$187	$16
7428	$188	$16
7442	$192	$16
7060	$193	$16
7031	$194	$16
7765	$196	$16
7011	$197	$16

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. 8201 is the least affordable zip code for New Jersey renters at an average cost of $217 a year or $18 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.

Zipcode	Average annual rate	Average monthly rate
8201	$217	$18
8110	$216	$18
8213	$210	$18
8250	$210	$17
8246	$208	$17
7753	$203	$17
7733	$198	$16
7799	$196	$16
8890	$195	$16
7939	$194	$16

Renters insurance rates vary from one city to another. But with Insure.com, finding the right renters insurance policy is easy. Learn more about renters insurance costs for different cities below.

Renters insurance rates in New Jersey by city

Renters and auto bundle discounts in New Jersey

If you’re looking for ways to trim costs on your insurance premiums, consider purchasing renters and auto insurance from the same company.

Bundling policies can help you save an average of 11% per year in New Jersey. New Jersey Manufacturers offers the cheapest rate on renters and auto insurance bundle, you can save 18% a year on your premiums.

Company	Average annual rate	Average base annual rate (without bundling)	$ bundle average savings	% bundle average savings
New Jersey Manufacturers	$784	$958	$175	18%
State Farm	$852	$1,251	$399	32%
Chubb Ltd	$922	$1,020	$97	10%
National General Insurance	$1,093	$1,206	$113	9%
Heritage Insurance Holdings	$1,166	$1,227	$61	5%
USAA	$1,198	$1,316	$118	9%
Franklin Mutual	$1,437	$1,446	$9	1%
Farmers	$1,811	$1,906	$95	5%

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. Consider factors like coverage options, deductibles, and customer reviews in addition to price.

Methodology

Insure.com commissioned Quadrant Information Services to gather renters insurance rates for all available ZIP codes in New Jersey. These rates include a coverage limit of $300,000 for liability coverage, personal property coverage ranging from $20,000 to $40,000, and a $1,000 deductible, with credit tier alignment specified as good/none.

How much is renters insurance in other states

Alaska$192/Year

Alabama$250/Year

Arkansas$255/Year

Arizona$177/Year

California$224/Year

Colorado$143/Year

Connecticut$200/Year

Delaware$174/Year

Florida$245/Year

Georgia$234/Year

Hawaii$165/Year

Iowa$142/Year

Idaho$142/Year

Illinois$174/Year

Indiana$187/Year

Kansas$176/Year

Kentucky$149/Year

Louisiana$355/Year

Massachusetts$168/Year

Maryland$183/Year

Maine$136/Year

Michigan$253/Year

Minnesota$161/Year

Missouri$168/Year

Mississippi$288/Year

Montana$192/Year

North Carolina$183/Year

North Dakota$126/Year

Nebraska$187/Year

New Hampshire$131/Year

New Mexico$158/Year

Nevada$193/Year

New York$225/Year

Ohio$181/Year

Oklahoma$198/Year

Oregon$204/Year

Pennsylvania$186/Year

Rhode Island$389/Year

South Carolina$220/Year

South Dakota$141/Year

Tennessee$212/Year

Texas$158/Year

Utah$153/Year

Virginia$177/Year

Vermont$142/Year

Washington$182/Year

Wisconsin$119/Year

West Virginia$184/Year

Wyoming$111/Year

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.