Cheapest Renters Insurance in New Jersey

Your neighbors pay as little as $10 a month for coverage.

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The average cost of renters insurance in New Jersey is $15 a month, which is below the national average of $18 a month. However, renters insurance can range from as little as $10 a month to $22 a month, depending on how much coverage you purchase.

Our comprehensive guide to renters insurance in New Jersey, includes:

Cheapest renters insurance companies in New Jersey

Renters insurance is only $15 a month in New Jersey, on average. Although renters insurance is relatively cheap, you can save even more by getting rates from multiple insurance companies. Farmers is the cheapest renters insurance company in our study, with an average rate of $213 a year, or $18 a month.

Company Average annual premium
State Farm $117
Allstate $192
Farmers $207
Travelers $189
Nationwide $175
Amica $195
Note: Average rates are based on online quotes from provider websites. Your rates may vary.

Although price is important, you should also consider the following:

  • Discount offerings
  • Customer service
  • If you prefer to speak to someone face to face or strictly over the phone/online
  • If the insurance company has local agents

Best renters insurance companies in New Jersey

Not all renters insurance companies are the same. Some offer different types of coverages and services. To help you find the best renters insurance for you, we researched the best renters insurance companies in New Jersey.

Best rates: State Farm

If you want the cheapest rates, we recommend State Farm for New Jersey renters. State Farm has an average annual premium of $117, which is $72 lower than second-least expensive insurer, Travelers. State Farm also offers some great discounts to help you save even more. If you bundle your renters and auto policies with State Farm, you can save up to $722 on your car insurance.

Best for discounts: Amica

Although Amica has an average rate that is higher than the state average, it offers a variety of discounts to help drive your premium down. If you bundle your renters and auto policies, you can save up to 15%. If you stay with Amica for two years, you can qualify for its loyalty discount. You can also lower your premium if you sign up to receive policy information and bills electronically, as well as if you've had no claims in the past three years.

Best renters insurance companies based on customer service

We recommend looking at renters insurance companies' customer service scores. You'll want to be sure you can rely on your insurance provider to make the claim process easy.

QuoteWizard uses J.D. Power's renters insurance study and the NAIC's Complaint Index to compare companies' customer service.The Complaint Index is based on how many complaints a company receives relative to its size, so lower numbers mean fewer complaints.

Company J.D. Power overall satisfaction (out of 1,000)* NAIC Complaint Index (lower is better)**
State Farm 866 1.46
Allstate 833 1.47
Farmers 831 1.64
Travelers 815 0.27
Nationwide 834 1.31
Amica - 1.96
Note: *Ratings from J.D. Power 2021 U.S. Home Insurance Study. **Complaint Index is based on 2020 data from the National Association of Insurance Commissioners.

Based on these ratings, State Farm and Travelers offer some of the best customer service among renters insurance companies.

Get affordable coverage for your most valuable belongings.

Cost of renters insurance in New Jersey by city

Renters insurance rates vary from city to city. Newark, which is the most populated city in New Jersey, has a high average renters insurance rate of $256 a year. Here's a look at average annual premiums of some of the most populated cities in New Jersey.

City Average annual premium
Newark $256
Jersey City $202
Edison $170
Toms River $180
Trenton $178
Brick $184
Cherry Hill $188
Union $156
Jackson $177
Note: Average rates are based on online quotes from provider websites. Your rates may vary.

Renters insurance coverage

When you're choosing a renters insurance policy, you should look at your coverage limits and any coverage exclusions before purchasing a policy. A standard renters insurance policy will provide coverage for personal property, liability, loss of use and medical payments to others.

  • Personal property coverage protects your belongings. You'll usually have coverage for events like fire, smoke, wind, hail and theft.
  • Loss of use covers your additional living expenses if you are temporarily unable to remain in your home such as hotel stay.
  • Personal liability will protect you if you're sued for accidentally injuring someone or damaging their property. Personal liability coverage can help pay for legal fees and settlement costs.
  • Medical payments to others covers injured guests in your home. For example, if a guest is injured in your home during a dinner party and needs stitches, renters insurance can step in to help pay medical costs.

These coverages and coverage limits are perhaps the most important things to remember when you compare renters insurance quotes. If a quote doesn't provide sufficient coverage for your needs, it doesn't matter how cheap it is.

Renters insurance requirements in New Jersey

Renters insurance is not required by law in New Jersey, but your landlord can require it as a condition of your lease. While your landlord's insurance covers the structure of your home, it does not protect your belongings. That's why you need your own renters insurance policy, separate from your landlord's.

If your landlord requires renters insurance, they are considered an interested party and will be notified of your coverage. If you live with roommates, chances are everyone will need their own renters insurance policy, unless they are family.


We collected quotes from 62 addresses in New Jersey for a renters insurance policy. We used the following coverages:

  • $30,000 of personal property coverage
  • $500 deductible
  • $100,000 of personal liability
  • $1,000 of medical payments to guests
  • Loss of use: 30%

We used quotes from the following insurance companies:

  • Allstate
  • Farmers
  • Travelers
  • Nationwide
  • Amica

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