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 $238 per year or $20 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 $238 per year or $20 per month.
State Farm provides the least expensive renters insurance in New Jersey at an average rate of $163 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 cost of renters insurance is $20 per month. However, the exact premiums may vary based on factors like your location, the value of your belongings, and the amount of coverage you choose. It’s always a good idea to compare quotes from multiple insurers to ensure you get the best deal.

Average renters ins cost per month	Difference compared to national average
$20	$4 less

Average renters insurance cost in New Jersey by company

Renters in New Jersey can find the most budget-friendly insurance with State Farm, which has an average annual cost of $163, according to our data. Other affordable options include American Family and Farmers.

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
State Farm	$163	$14
American Family	$164	$14
Farmers	$209	$17
Chubb	$210	$18
Franklin Mutual	$238	$20
NJM	$257	$21
Plymouth Rock Assurance	$357	$30
Allstate	$507	$42
USAA*	$188	$16

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

Renters insurance calculator in New Jersey

$221/year

Estimated renters insurance rates in New Jersey

$18

Monthly renters insurance cost in New Jersey

-18%

Compared to national average

Average cost of renters insurance in New Jersey by coverage level

The average annual cost of renters insurance in New Jersey is $238, with a personal property coverage limit of $40,000, $300,000 in liability coverage and a $1,000 deductible.

However, if you lower your personal property coverage from $40,000 to $20,000, you can expect to pay $175 a year for renters insurance in New Jersey. Make sure $20,000 is enough to cover your belongings before deciding to adjust your coverage.

The table below shows 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	$172	$14
$20,000 with $500 Deductible and $300,000 Liability	$189	$16
$20,000 with $1,000 Deductible and $100,000 Liability	$159	$13
$20,000 with $1,000 Deductible and $300,000 Liability	$175	$15
$40,000 with $500 Deductible and $100,000 Liability	$241	$20
$40,000 with $500 Deductible and $300,000 Liability	$258	$21
$40,000 with $1,000 Deductible and $100,000 Liability	$221	$18
$40,000 with $1,000 Deductible and $300,000 Liability	$238	$20
$60,000 with $500 Deductible and $100,000 Liability	$315	$26
$60,000 with $500 Deductible and $300,000 Liability	$332	$28
$60,000 with $1,000 Deductible and $100,000 Liability	$289	$24
$60,000 with $1,000 Deductible and $300,000 Liability	$305	$25

Average cost of renters insurance in New Jersey by city

Renters insurance rates can vary widely between cities. To make finding the right policy easier, we’ve broken down the costs by city. Discover how much renters insurance typically costs in different areas of New Jersey.

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

The amount New Jersey renters pay for insurance largely depends on their ZIP code. Among all the ZIP codes analyzed, 7823 is the state’s most affordable ZIP for renters insurance, with an average annual premium of $220.

Since rates differ by ZIP code, comparing quotes is one of the simplest ways to get the most affordable renters insurance policy in New Jersey.

ZIP code	City	Average annual rate	Average monthly rate
7823	Belvidere	$220	$18
7825	Blairstown	$220	$18
8808	Broadway	$220	$18
7829	Buttzville	$220	$18
7832	Columbia	$220	$18
7838	Great Meadows	$220	$18
8886	Greenwich	$220	$18
7840	Hackettstown	$220	$18
7846	Johnsonburg	$220	$18
7863	Oxford	$220	$18

Least affordable ZIP codes for renters insurance in New Jersey

Among the ZIP codes analyzed by Insure.com, the least affordable ZIP code for renters insurance in New Jersey is 7112, with an average cost of $258 a year or $22 monthly.

We analyzed quotes from multiple insurance providers across every ZIP code in New Jersey. Below, you’l find the average annual renters insurance premiums broken down by ZIP code.

ZIP code	City	Average annual rate	Average monthly rate
7112	Newark	$258	$22
7018	East Orange	$256	$21
8201	Absecon	$255	$21
8231	Oceanville	$255	$21
8214	Dennisville	$254	$21
8218	Goshen	$254	$21
8734	Lanoka Harbor	$254	$21
8220	Leeds Point	$254	$21
8740	Ocean Gate	$254	$21
8110	Pennsauken	$254	$21

Final thoughts: Average renters insurance in New Jersey

Renters insurance is essential for residents of New Jersey. It safeguards possessions against damage from fire, theft, vandalism, and natural disasters, ensuring protection in unforeseen circumstances.

To get the best renters insurance at an affordable price, shop around and compare quotes from various insurance carriers. In addition to insurance premiums, consider factors such as coverage options, deductibles, and customer reviews to make an informed decision.

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.