State Farm and Chubb offer the best cheap renters insurance in New Jersey. State Farm tops our rankings with rates starting at $14 per month. Chubb excels in customer satisfaction.
Cheap Renters Insurance in New Jersey
Updated: January 30, 2026
Advertising & Editorial Disclosure
Key Takeaways
State Farm is New Jersey's best overall and cheapest renters insurance company, with rates starting at $165 per year.
Renters insurance in New Jersey costs an average of $23 per month, ranging from $14 to $40.
To find the best and most affordable renters insurance, decide on your coverage needs first. Then, research costs and compare many quotes.
New Jersey Renters Insurance Quote Estimates
MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
It's free to use, requires no personal information and we won't send you any spam.
0
High
0
Average
0
Low
Rates updated:
Feb 07, 2026
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
| State Farm | 95 | $14 | $165 |
| Chubb | 91 | $30 | $355 |
| Homesite | 85 | $21 | $258 |
| Narragansett Bay | 84 | $26 | $317 |
| Allstate | 79 | $40 | $485 |
*This list shows rates for a renter with good credit, no claims history, $50K in property damage coverage, $100K in liability coverage, a $1,000 deductible and guaranteed replacement.
Use our renters insurance calculator to account for New Jersey's higher cost of living and elevated replacement costs for belongings.
Best Cheap Renters Insurance Companies in New Jersey
Compare Personalized Best Cheap Renters Insurance in New Jersey
While our list above covers most renters, it may not show your ideal options. We've made a filterable table that matches your profile to help you find the best options in New Jersey.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Yes
Good
| State Farm | 95 | $10 | $116 |
| Chubb | 84 | $20 | $243 |
| Homesite | 80 | $17 | $199 |
| Farmers | 69 | $27 | $319 |
| Narragansett Bay | 69 | $26 | $318 |
Best New Jersey Renters Insurance Reviews
Below are details about our top picks for renters insurance in New Jersey, based on affordability, customer service and coverage options.
State Farm: Best Cheap Plans
pros
Lowest rates
High financial stability ratings
Good customer service ratings
cons
Below-average claims satisfaction
Limited add-on coverage options
COMPANY HIGHLIGHTS
State Farm has New Jersey's cheapest renters insurance at $14 monthly. The company ranks fourth nationwide in J.D. Power's customer satisfaction ratings. You can customize your personal property coverage limits to match exactly what you need.
Chubb: Best Included Coverage
pros
Competitive pricing for lower coverage limits
Broad built-in protections included with standard policies
Industry-leading customer satisfaction for claims
cons
Premiums run higher than many competitors
COMPANY HIGHLIGHTS
Chubb ranks as New Jersey's second-priciest renters insurer, though it includes perks you won't find with other companies. Identity protection comes standard with your policy. The company's property monitoring service (included at no extra cost) alerts you to home problems, warns you about natural disasters while you're traveling and contacts emergency services automatically if your rental is at risk.
Average Cost of Renters Insurance in New Jersey
New Jersey renters pay around $23 per month for coverage, a bit more than the $20 national average. That rate buys you $50,000 in personal property coverage, $100,000 liability protection and a $1,000 deductible. Your actual cost depends on your specific circumstances.
Below is a table where you can filter key factors affecting renters insurance rates to see average costs for your profile.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Good
Covered
| $50K Personal Property / $100K Liability | $23 | $277 |
Average New Jersey Renters Insurance Cost by City
Renters insurance costs vary by city. The average annual premium in Elizabeth is $236; in Jersey City, it's $259 for a policy with $50K in personal property coverage and $100K in liability coverage. Check the table below for the average cost in your city.
| Elizabeth | $236 |
| Jersey City | $259 |
| Newark | $294 |
| Paterson | $272 |
*This table shows rates for a renter with good credit and no claims history. Policies include $50K property damage coverage, $100K liability coverage, a $1,000 deductible and guaranteed replacement.
New Jersey Renters Insurance: Buyer's Guide
Choosing renters insurance in New Jersey can be difficult with many options. Our guide simplifies the process to help you find coverage that fits your needs.
How to Find the Best Cheap Renters Insurance in New Jersey
A structured approach makes it easier to find renters insurance at a fair price. Follow these steps to compare options and keep costs in check while maintaining solid coverage:
- 1Determine the right coverage level
Estimate the value of your personal belongings before you look at policies. Factor in local risks such as severe weather, theft, or building-related issues so your limits reflect real exposure.
- 2Research costs and discounts
Check average renters insurance costs for similar renters to create a realistic comparison point. Identify discounts you may qualify for, such as claims-free history or safety features, to bring premiums down.
- 3Compare providers
Evaluate insurers based on coverage options, pricing consistency, and customer feedback. Build a short list before requesting quotes so comparisons stay focused and useful.
- 4Consider bundling
If you already carry auto insurance, ask whether your insurer offers a renters bundle. Combined policies often reduce overall costs enough to justify staying with one provider.
- 5Get multiple quotes through different channels
Gather at least five quotes using different channels. Mix online comparison tools, insurer websites, independent brokers, and direct agent conversations to capture pricing differences.
- 6Compare rates annually
Premiums shift as insurers update pricing models. Reviewing quotes annually helps confirm your policy still offers good value.
How Much Renters Insurance Do I Need in New Jersey?
New Jersey doesn't require renters insurance by law, but most landlords demand at least $100,000 in liability coverage. What your landlord asks for depends on factors like your rental history, credit score and whether you have pets. When picking a policy, think about how much your stuff is worth, weather risks in your area, local crime rates and any animals you own.
Use our calculator below to determine your ideal personal property limits so you know how much renters insurance you need.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
New Jersey Renter Risk Considerations
Here are the usual risks for renters in New Jersey, along with coverage options:
- Weather risks: New Jersey gets hit hard by hurricanes and winter storms in some regions. Standard policies won't cover you in high-risk zones, so you'll need to add extra protection.
- Crime risks: New Jersey ranks 42nd nationwide for property crime and 11th for identity theft and fraud. Add extra coverage to your renters policy if you want better protection against property damage.
- Pet ownership: Own a dog or cat? Get pet liability coverage. Some insurers include it automatically while others charge extra for it.
- Property types: Standard policies don't always cover specialized items like tools, electronics or rental property features like pools. Look for add-ons that protect these specific belongings.
How Does Renters Insurance Coverage Work?
Renters insurance covers damage to your belongings, liability for injuries to others and living expenses if your rental becomes unlivable. You can strengthen your policy by adding extra coverages. Here are some common types of renters insurance coverage:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Replaces damaged or stolen belongings in your rental, up to your policy limit. Without replacement cost coverage, you only get what your items were worth after years of use. Add it to your policy and you get enough to buy new replacements. | |
Standard | When someone gets hurt in your rental, this covers their medical bills and any legal costs. Your landlord probably requires it. | |
Additional living expenses | Standard | Hotel rooms, meals and gas all get covered when you can't stay in your rental. How much depends on your insurer. Some base it on a percentage of your personal property coverage, others set a flat dollar amount. |
Natural disasters | Add-on | Separate policies cover earthquake and flood damage to your belongings. |
Parts/Equipment | Add-on | You need separate coverage for tools, appliances and utilities. |
Scheduled property | Add-on | Expensive items like jewelry or cameras get extra protection, up to amounts you choose when buying the policy. |
Identity theft | Add-on | Money stolen through identity theft gets paid back, plus you're covered for legal fees and credit monitoring. |
Pet liability | Add-on | Your dog or cat hurts someone at your rental? This pays their medical and legal costs. Some policies already include it. |
Modifications | Add-on | This add-on replaces custom shelving, light fixtures and other upgrades you installed. |
Food loss | Add-on | You get reimbursed for groceries that spoil during a power outage or other covered problem. |
Best Renters Insurance in New Jersey: Bottom Line
The best and cheapest overall renters insurance companies in New Jersey are State Farm and Chubb. While we recommend these options, you should research and compare multiple companies and quotes to get the best deal.
Renters Insurance in New Jersey: FAQ
Here are answers from our experts to common questions:
What is the cheapest renters insurance company in New Jersey?
State Farm offers the cheapest renters insurance in New Jersey, with an average annual premium of $165 or $14 per month.
What is the best renters insurance company in New Jersey?
State Farm is the best renters insurance company in New Jersey, with a MoneyGeek score of 95 out of 100 due to its exceptional balance of cost-effectiveness, customer satisfaction and coverage options.
How much does renters insurance cost in New Jersey?
The average cost of renters insurance in New Jersey is $277 per year or $23 per month, 14% higher than the national average. Annual premiums range from $165 to $485.
Is renters insurance required in New Jersey?
New Jersey doesn't legally require renters insurance, but your landlord might ask for it. Consider your needs and situation to decide if a policy is right for you. Reasons to get renters insurance include financial protection from common risks and liability for third-party injuries.
How We Found the Best Cheap Renters Insurance Companies
To find the cheapest renters insurance in New Jersey, we used this base profile:
- $50K personal property coverage
- $100K liability coverage
- $1,000 deductible
- Property replacement coverage
- Good credit score
We used this to determine our affordability score for the state (60% of the score).Â
Other parts of our score included:
- Customer satisfaction from industry research (25%)
- Add-on coverages (10%)
- Financial strength ratings (5%)
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- American Red Cross. "Which Natural Disasters Should You Prepare For?." Accessed May 1, 2025.
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed May 1, 2025.
- U.S. News. "Low Property Crime Rate." Accessed May 1, 2025.