The Best Cheap Renters Insurance in New Jersey for 2025
State Farm has the best combination of cheap rates and good customer service among New Jersey renters insurance companies.
Compare Cheap Renters Insurance Quotes in New Jersey
Best Cheap Renters Insurance in NJ
ValuePenguin editors collected over 100 quotes from five top renters insurance companies to find the best renters insurance in NJ. Our experts rated insurance companies by coverage, cost and customer service.
Cheapest renters insurance companies in New Jersey
Lemonade has the cheapest renters insurance quotes in New Jersey, at $8 per month for $30,000 of personal property coverage.
State Farm also has affordable rates, with an average of $10 per month. That's 45% cheaper than the New Jersey state average.
Compare Cheap Renters Insurance Quotes in New Jersey
New Jersey has the ninth cheapest renters insurance rates in the U.S. On average, it costs $18 per month in New Jersey for $30,000 of personal property coverage. That's $5 per month less than the national average. Personal property coverage is what you need to replace or repair the things you own should they get stolen or damaged due to a covered loss.
Renters insurance in NJ is slightly cheaper than in nearby Pennsylvania and New York.
Top renters insurance companies in New Jersey
Company | Monthly cost | ||
|---|---|---|---|
| Lemonade | $8 | |
| State Farm | $10 | |
| Amica | $19 | |
| Assurant | $20 | |
| Progressive | $31 | |
Best renters insurance company in New Jersey: State Farm
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Cost$10/moThis analysis used renters insurance quotes for 24 cities across NJ. Read our methodology.
Best for cheap renters rates in New Jersey: Lemonade
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Cost$8/moThis analysis used renters insurance quotes for 24 cities across NJ. Read our methodology.
Best renters insurance in New Jersey for customer service: Amica
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Cost$19/moThis analysis used renters insurance quotes for 24 cities across NJ. Read our methodology.
New Jersey renters insurance cost by city
East Orange, a New York suburb, has the most expensive renters insurance in New Jersey.
Renters insurance in East Orange costs $23 per month for $30,000 of personal property coverage on average. Trenton, the capital of New Jersey, has the cheapest renters insurance in NJ, at $15 per month.
Where you live can influence how much you pay for renters insurance. That's because factors like crime rates, the frequency of certain natural disasters and the cost of labor and materials can all impact your monthly insurance costs.
City | Monthly rate | % from average |
|---|---|---|
| Bayonne | $17 | -4% |
| Brick | $19 | 10% |
| Camden | $18 | 1% |
| Cherry Hill | $18 | 1% |
| Clifton | $15 | -15% |
Tips for getting the cheapest renters insurance in New Jersey
Pay less for renters insurance in New Jersey by comparing quotes and taking advantage of discounts.
You could save $275 per year by comparing renters insurance quotes. That's the difference between the most expensive renters insurance company in New Jersey, Progressive, and the cheapest, Lemonade, for the same level of coverage.
Keep in mind that paying more for renters insurance doesn't mean you'll get better service. For example, State Farm has cheap rates and a good reputation for customer satisfaction.
Most New Jersey renters insurance companies offer one or more discounts. It's important to factor in these savings when comparing quotes.
Common New Jersey renters insurance discounts
- Pay in full
- Renters-auto bundling
- Home protection device
- Automatic payments
- Claims free discount
- Loyalty
Common natural disasters in New Jersey
New Jersey renters should protect themselves against powerful storms and floods.
Most standard renters insurance policies cover storm damage. Keep in mind that renters insurance won't pay to repair the structure of your apartment or rented house. That's your landlord's responsibility.
Instead, renters insurance covers the items you own. For example, a renters policy would pay to replace a stolen laptop or necklace up to your policy limits.
Many policies will also pay for a hotel or another short-term rental if your apartment is uninhabitable, called loss of use coverage.
Renters insurance won't pay for flood damage.
Keep in mind that insurance companies narrowly define flooding. Rainwater that leaks through the ceiling or water from a burst pipe is typically considered nonflood damage, so your standard renters policy would cover it.
Otherwise, you might need to purchase flood insurance for renters. However, it doesn't usually make sense to buy flood insurance unless you live in a basement or ground-floor unit or home.
It's also important to understand your area's flood risk before you buy a plan. Use the flood map tool on FEMA's website to find your risk level.
New Jersey renters insurance trends
Renters insurance prices have gone up 5.8% in New Jersey over the last six years.
New Jersey renters insurance rates went up between 3.6% and 42.9% over the last six years, depending on the company.
Renters insurance prices, on average, saw little to no increase between 2020 and 2022, but then saw a slight uptick of 4.5% across 2023 and 2024.
Among the major NJ insurers, the biggest increases have been at Chubb (42.9%), Liberty Mutual (24.1%) and Farmers (20.2%).
Renters insurance rate change data was compiled using RateWatch from S&P Global, which uses information from the National Association of Insurance Commissioners (NAIC).
Frequently asked questions
Who has the most affordable renters insurance in New Jersey?
Lemonade has the cheapest renters insurance in New Jersey, at $8 per month for $30,000 of personal property coverage. However, State Farm has the best renters insurance for most people because of its low rates and good reputation for customer satisfaction.
How much is renters insurance in NJ?
Renters insurance in New Jersey costs $18 per month on average. That's $5 per month cheaper than the national average.
Is Lemonade insurance available in NJ?
Yes, you can buy Lemonade renters insurance in New Jersey.
Methodology
ValuePenguin collected more than 100 quotes from top renters insurance companies for 24 of the largest cities in New Jersey for an unmarried 30-year-old woman who has no history of renters insurance claims. Coverage limits include:
- $30,000 of personal property coverage
- $9,000 for loss of use
- $500 deductible
- $100,000 of personal liability
- $1,000 of medical payments to guests
Customer service ratings were created using quotes for renters insurance, coverage options, complaint data from the National Association of Insurance Commissioners (NAIC) and the most recent J.D. Power renters insurance customer satisfaction survey (2023).
These rates are for comparative purposes only. Your quotes will differ.
Senior Writer
Talon Abernathy is a ValuePenguin Senior Writer who specializes in health insurance, Medicare and Medicaid. He's also contributed to other insurance verticals including home, renters, auto, motorcycle and flood insurance.
Talon came to ValuePenguin in 2023. Since his arrival, he's helped to expand the site's health insurance-related content offerings. He enjoys helping readers understand the ins and outs of America's all too complicated health insurance landscape.
Before coming to ValuePenguin, Talon worked as a freelance writer. His prior work has touched on a broad range of personal finance-related topics including credit-building strategies, small business incorporation tactics and creative ways to save for retirement.
Insurance tip
In many parts of the country, you can qualify for a free Silver health insurance plan if you meet certain income requirements. Government subsidies in the form of premium tax credits and cost-sharing reductions may mean you'll pay nothing for coverage.
Expertise
- Health insurance
- Medicare and Medicaid
- Flood insurance
- Homeowners insurance
- Renters insurance
- Auto and motorcycle insurance
Referenced by
- The Miami Herald
- Money.com
- MSN
- Nasdaq
- The Sacramento Bee
- Yahoo! Finance
Education
- BA, University of Washington
- Certificate in Copyediting, UC San Diego
Credentials
- Licensed Life & Disability Insurance Agent
- Licensed Property & Casualty Insurance Agent
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
