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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 $181 per year or $15 per month for coverage limits of $40,000 for personal property coverage, $100,000 in liability coverage and a $1000 deductible. These are average rates and actual premium costs may differ.

Renters insurance companies in New Jersey

New Jersey Manufacturers offers affordable renters insurance in New Jersey at an average annual rate of $125 followed by State Farm 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.

CompanyAverage annual rateAverage monthly rate
New Jersey Manufacturers$125$10
State Farm$125$10
American Family$140$12
USAA$143$12
Allstate$195$16
Chubb Ltd$200$17
Franklin Mutual$224$19
Farmers$243$20
Plymouth Rock Assurance$350$29

Renters insurance calculator in New Jersey

$181/year
Estimated renters insurance rates in New Jersey
$15
Monthly renters insurance cost in New Jersey
-28%
Compared to national average

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 $181 per year. These rates are for the coverage level of $40,000 for personal property coverage, $100,000 in liability coverage and a $1000 deductible.

However, if you lower the personal property coverage from $40,000 to $20,000, you will pay $132 per year for renters insurance in New Jersey for $100,000 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 levelAverage annual renters insurance rateAverage monthly renters insurance rate
$20,000$132$11
$40,000$181$15
$60,000$238$20

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 $164 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.

ZIP codeAverage annual rateAverage monthly rate
7823$164$14
7831$167$14
8858$168$14
7855$170$14
7442$173$14

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 $198 a year or $17 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 codeAverage annual rateAverage monthly rate
8201$198$17
8110$198$16
8213$192$16
7753$185$15
8812$182$15

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.

CompanyAverage annual rate$ bundle average savings% bundle average savings
New Jersey Manufacturers$784$17518%
State Farm$852$39932%
Chubb Ltd$922$9710%
National General Insurance$1,093$1139%
Heritage Insurance Holdings$1,166$615%
USAA$1,198$1189%
Franklin Mutual$1,437$91%
Farmers$1,811$955%

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 $100,000 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$223/Year
Alabama$329/Year
Arkansas$337/Year
Arizona$218/Year
California$257/Year
Colorado$173/Year
Connecticut$250/Year
Delaware$230/Year
Florida$359/Year
Georgia$330/Year
Hawaii$231/Year
Iowa$181/Year
Idaho$174/Year
Illinois$211/Year
Indiana$240/Year
Kansas$236/Year
Kentucky$193/Year
Louisiana$495/Year
Massachusetts$234/Year
Maryland$243/Year
Maine$172/Year
Michigan$337/Year
Minnesota$200/Year
Missouri$206/Year
Mississippi$394/Year
Montana$246/Year
North Dakota$153/Year
Nebraska$242/Year
New Hampshire$155/Year
New Mexico$194/Year
Nevada$235/Year
New York$272/Year
Ohio$226/Year
Oklahoma$262/Year
Oregon$254/Year
Pennsylvania$241/Year
Rhode Island$436/Year
South Dakota$184/Year
Tennessee$272/Year
Texas$225/Year
Utah$181/Year
Virginia$219/Year
Vermont$166/Year
Washington$224/Year
Wisconsin$148/Year
West Virginia$236/Year
Wyoming$126/Year
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Shivani Gite
Contributing Writer

 
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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.