Average renters insurance cost in New Jersey

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. For a deeper dive into our process, see our complete methodology. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

Renters in New Jersey pay an average of $238 per year, or $20 per month for renters insurance. This is based on a standard policy covering $40,000 in personal property, $300,000 in liability, and a $1,000 deductible – a reasonable baseline for most renters.

What you actually pay will depend on your coverage amount, which insurer you choose, and personal details like your ZIP code, claims history, and in some states, your credit score.

How much does renters insurance cost in New Jersey?

The average monthly cost of renters insurance in New Jersey is $20 for a policy with $40,000 in personal property coverage and $300,000 in liability protection. Premiums can shift depending on where you live, how much coverage you need, and the total value of your belongings – which is why getting quotes from several insurers is a smart move.

Generally speaking, raising your deductible lowers your monthly premium, while adding coverage for valuables like jewelry or electronics increases it. Choose a deductible and coverage level that fits both your budget and replacement needs.

Renters insurance in New Jersey: Where to start

Renters insurance in New Jersey averages $238 per year, or $20 per month for a standard policy
If you’re looking for the lowest price, State Farm tends to offer the most competitive rates in New Jersey, averaging around $163 per year
Since pricing varies widely between providers, it pays to compare a few options before making a decision

Which companies offer the cheapest renters insurance in New Jersey?

The most affordable renters insurance in New Jersey comes from State Farm, which averages $163 per year. American Family and Farmers are also competitive options for budget-conscious renters.

Keep in mind that the cheapest policy isn’t always the right one – coverage limits, deductibles, and available discounts all matter. The table below compares average annual and monthly rates from leading 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.

Want a more accurate renters insurance estimate?

Use our calculator to get a personalized renters insurance quote based on your location and coverage needs.

Your final premium may vary depending on the insurer, coverage limits, deductible, claims history, and other rating factors.

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

How much does renters insurance cost by coverage level in New Jersey?

The average annual renters insurance premium in New Jersey is $238, based on $40,000 in personal property coverage, $300,000 in liability, and a $1,000 deductible.

Dropping your personal property coverage from $40,000 to $20,000 could bring your annual cost down to around $175. Just make sure $20,000 would actually be enough to replace what you own before making that change.

The table below shows average annual premiums in New Jersey at both the $20,000 and $40,000 personal property coverage levels.

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

People also ask: How much renters insurance coverage do I need?

The right amount of coverage depends on the value of your belongings and how much financial risk you’re willing to take on. Most renters do well with $20,000 to $40,000 in personal property coverage and at least $300,000 in liability protection. If you own high-value items like jewelry or electronics, you may want to add endorsements on top of your base policy.

Renters insurance rates in New Jersey by city

See rates in your city

Jersey City

Lakewood

How much does renters insurance cost by city in New Jersey?

Your city within New Jersey can have a real impact on your renters insurance premium. Insurers factor in local variables like crime statistics, weather history, and how urban or suburban an area is when setting rates.

Here’s how average renters insurance costs break down across major cities in New Jersey.

Does your ZIP code affect renters insurance rates in New Jersey?

Your ZIP code is one of the most significant factors in how insurers price your policy. Areas with higher rates of theft, more frequent weather events, or a greater number of past claims tend to see higher premiums – even for the same level of coverage.

In New Jersey, annual rates range from roughly $220 in 7823 to $258 in 7112. Below are the cheapest and most expensive ZIP codes for renters insurance in New Jersey.

Why your ZIP code affects renters insurance costs

Insurers use neighborhood-level risk data when calculating your premium, which means rates can differ significantly from one ZIP code to the next.

Key factors include:

Theft and vandalism rates in your area
Exposure to weather risks like hurricanes, wildfires, or flooding
Historical fire claims and local rebuilding costs

Even shifting a few ZIP codes can change what you pay each month.

What are the most affordable ZIP codes for renters insurance in New Jersey

7823 has the lowest average annual renters insurance cost at $220.

Areas with fewer theft incidents and lower weather-related claim activity tend to have more affordable premiums overall.

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

What are the least affordable ZIP codes for renters insurance in New Jersey

At the other end of the spectrum, 7112 has the highest average renters insurance cost in New Jersey, at $258 per year or $22 per month.

Below are average annual rates across all ZIP codes in New Jersey, based on quotes from major providers.

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

How to lower your renters insurance, even in a high-cost ZIP code

Get quotes from at least 3 insurers – rates for identical coverage can differ by $100 or more within the same ZIP code
Bundle your renters and auto insurance to cut 5% to 15% off your premium
Ask about discounts for safety features like smoke detectors, deadbolts, security systems, or smart home devices
Raise your deductible from $500 to $1,000 – this alone can reduce your premium by around 10%
If you haven’t filed a claim in 3 or more years, ask about a claims-free discount

Is renters insurance worth it in New Jersey?

For most renters in New Jersey, a renters insurance policy protects your belongings from risks like fire, theft, vandalism, and certain weather events, and shields you from liability if someone is injured inside your home.

According to figures from the US Department of Commerce, the US Census Bureau, and the American Community Survey, approximately 48% of US renter households allocate more than 30% of their income toward rent and utilities. When housing already takes up a large share of your budget, it’s worth being thoughtful about every ongoing cost – including insurance.

Shopping around makes a real difference. Beyond price, look at what each policy actually covers, what the deductible is, and how the insurer performs when claims are filed. Slightly higher premiums can be worthwhile if the coverage is meaningfully better.

Frequently asked questions

What does renters insurance actually cover?

A standard renters insurance policy covers personal belongings, liability, and additional living expenses if your rental becomes unlivable. It protects against losses from events like fire, theft, and vandalism, and can cover legal or medical costs if someone is hurt on your property. Always check the specific limits and exclusions in any policy you’re considering.

Do I really need renters insurance in New Jersey?

While renters insurance isn’t legally required in most cases, it provides real financial protection that’s hard to replicate otherwise. Even a basic policy can cover thousands of dollars in losses from theft, fire, or accidental damage – costs that would otherwise come straight out of pocket. Many landlords in New Jersey also make renters insurance a condition of the lease.

Sources:

Insurance Information Institute. Facts + statistics: Renters insurance. Accessed May 2026.

How much is renters insurance in other states

Show more states

Alisha Ambre

Alisha Ambre holds a Bachelor of Arts with honours in English Literature and Media Studies. She focuses on crafting clear, engaging content that makes complex information feel practical and approachable for everyday readers. When she’s not writing, she’s likely on the volleyball court or immersed in a good video game.