Best and cheapest renters insurance in New Jersey

Best renters insurance companies in New Jersey

When choosing the best renters insurance company in New Jersey, make sure you’re comparing on more than just price. We’ve compared quotes, coverage options and J.D. Power scores from all the major insurers in New Jersey. Below is our list of best renters insurance companies in New Jersey based on that analysis, with our score out of five. Note that USAA only offers coverage to military families.

Company	Average rating(out of 5)
State Farm	4
American Family	3.5
USAA	3.5
Allstate	3
Farmers	2.5

Compare the best renters insurance companies in New Jersey

Comparing quotes from multiple insurance carriers is one way to ensure you will get your money’s worth. There can be big differences in price between different renters insurance providers, so it pays to shop around. Ensure you buy from a company offering affordable renters insurance and consistent customer service.

To simplify your task, we have compared the carriers for New Jersey residents based on their average rates and ratings from J.D. Power. Among the carriers surveyed, State Farm is the best renters insurance company in New Jersey. It earned 844 out of 1000 from J.D. Power and has an average renters insurance rate of $125.

The table below offers a detailed comparison of renters insurance companies in New Jersey.

Company	J.D. Power Score	Average Annual Premium	AM Best Ratings
State Farm	844	$125	A++
American Family	856	$140	A
USAA	894	$143	A++
Allstate	835	$195	A+
Farmers	842	$243	A

How much is renters insurance in New Jersey

New Jersey residents pay an average of $181 a year for renters insurance, and the average monthly cost is $15. That’s for a policy with personal property coverage of $40,000, liability coverage of $100,000, and a deductible of $1,000.

What you pay for renters insurance will not be the same as a neighbor’s price because it depends on factors specific to each person: the property you want to insure, extra coverage options you add, and the deductible amount you choose.

“The number one thing that’s most important is to get good liability. A renter’s policy will default to $100,000 liability,” Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. “It costs next to nothing to go from $100,000 to $500,000. I want to say it’s probably 10 bucks a year. It’s really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that’s, at its core, what insurance is all about: the worst-case scenario.”

Average Annual Premium	Average Monthly Premium
$181	$15

Most expensive ZIP codes in New Jersey for renters insurance

Several factors affect your renters insurance coverage cost in New Jersey, including your location and the coverage you buy. The most expensive ZIP code in New Jersey for renters insurance is 8201, where the average annual rate is $198 which is $17 more than the state average insurance premium.

The following table lists the most expensive ZIP codes in New Jersey for renters insurance.

ZIP code	Average Annual Rate
8201	$198
7114	$197
8406	$196
8742	$195
8753	$194
8039	$193
8092	$192
8250	$191
7524	$190
7311	$189

Least expensive ZIP codes in New Jersey for renters insurance

Renters insurance rates in New Jersey are cheaper in some areas. Based on a rate analysis by Insurance.com, the least expensive ZIP code for renters insurance in New Jersey is 7823, and its average annual rate is $164.

Below, you’ll find the least expensive ZIP codes for renters insurance, along with their average annual rates.

ZIP code	Average Annual Rate
7823	$164
7831	$167
7405	$168
7837	$169
7855	$170
7442	$173
7424	$174
7508	$175
7403	$176
8555	$177

Compare renters insurance rates by city in New Jersey

Renters insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on renters insurance for your specific city in New Jersey.

City	Annual insurance premium
Bayonne	$190
Camden	$195
Clifton	$179
East Orange	$198
Elizabeth	$184
Jersey City	$188
Newark	$198
Passaic	$182
Paterson	$190
Trenton	$188

Cheap renters insurance in New Jersey by company

There are a lot of companies offering renters insurance in New Jersey. Among the carriers surveyed by Insurance.com, New Jersey Manufacturers is the cheapest renters insurance company in New Jersey; its average annual premium is $125.

Renters insurance prices can vary drastically between companies. That’s why it is important to compare rates and see which company offers the best deal to get coverage at an affordable price.

Below are the best cheap renters insurance companies in New Jersey and their average annual premiums.

Company Name	Average Annual Premium
New Jersey Manufacturers	$125
State Farm	$125
American Family	$140
USAA	$143
Allstate	$195
Chubb Ltd	$200
Franklin Mutual	$224
Farmers	$243
Plymouth Rock Assurance	$350

Methodology

Insurance.com compared renters insurance rates in 2022 provided by Quadrant Data Solutions for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. Content was updated in 2023.