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Who Has The Cheapest Renters Insurance Quotes in New Jersey?

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New Jersey is a small but populous state on the northeast Atlantic coastline. It has numerous large cities and is close to New York City – so it has a lot of renters. We conducted a study that evaluated quotes for a model home (a rental property with roughly 1,000 square feet of living space and $100,000 in liability coverage) to see which cities were the cheapest and the most expensive using five major carriers across 57 cities. We found that the most expensive city in New Jersey costs 72% more than the cheapest in our analysis of hundreds of quotes for our study’s sample home. Read more below, or enter your zip code to begin collecting quotes from a list of renters insurance companies. 

Cheapest Renters Insurance in New Jersey

We studied five major providers of renters insurance in New Jersey using quotes for a sample renters policy for a home of 1,000 square-feet. We determined that State Farm offered the cheapest renters insurance at an annual rate of $139, according to the sample renters policy. This rate was about 37% lower than the average annual rate for the Garden State. In contrast, Liberty Mutual had the most expensive renters insurance at an annual rate of $348, according to the sample renters policy. This is about 57% higher than the average annual rate for New Jersey. The following table shows the annual rates for the companies from cheapest to most expensive:

RankCheapest Renters Insurance CompanyAverage Annual Rates
1 State Farm $139
2 Allstate 161
3 Amica 203
4 Farmers 257
5 Liberty Mutual 348
Average 221

These rates were for a sample property. To get the best rates for yourself, we recommend that you get quotes from multiple insurance companies and compare.

Best Renters Insurance Rates in New Jersey: by City

The range of costs to insure our sample property in the Garden State is considerably wider than the range in other states. Our analysis showed the most expensive city in NJ costs 72% more than the cheapest while an identical study and sample home in Ohio, for example, showed a difference of 42%. Not surprisingly, the five cheapest places in New Jersey are located inland and outside the most densely populated areas around the major urban centers such as Newark and Jersey City.

RankCityAverage Annual Rate% Difference vs State Average
1 Westfield $194 -13.0%
2 Morristown 194 -13.0%
3 Madison 195 -12.6%
4 Chatham 195 -12.6%
5 Stirling 195 -12.6%

*The Average Annual Rate is rounded to the nearest whole dollar amount.

Westfield, NJ

The city of more than 30,000 residents was founded in 1720 and is a commutable distance from New York City. It has a thriving downtown, which New Jersey Transit runs through, and the cheapest renters insurance in New Jersey: 13% less than our sample property’s benchmark rate for the state.

Morristown, NJ

The first permanent European settlement in Morristown was established in 1715 and the city played an important role in the Revolutionary War. Just under 30 miles away from Newark and Jersey City, Morristown had the second most affordable renters insurance rates that were 13% less than the rest of the state.

Madison, NJ

Madison has a population of roughly 15,800 residents, which is less than it had in the 2000 Census (16,530). “The Rose City” was named after President James Madison and has always been a popular place to live for those who work in New York City. Renters insurance rates in Madison rank as the third lowest and are 12.6% less than the cost of our study’s sample property for the state.

Chatham, NJ

The municipality is technically Chatham Borough and shares public services with Chatham Townships, which is just south of it. It was established after the Revolutionary War and today, it has renters insurance rates that are 12.6% cheaper than the rest of the state.

Stirling, NJ

Rounding out our top five cities with the best renters insurance rates is Stirling, NJ. An unincorporated community, the area had roughly 2,500 residents in the 2000 Census. Renters insurance rates are 12.6% cheaper in Stirling than our study’s sample property average for the state of New Jersey. 

Most Expensive Renters Insurance in New Jersey

The most expensive places to have renters insurance in New Jersey include the city of Newark and more suburban and rural areas. Although the cost of premiums in Newark can be as much as 50% more than the benchmark rate for the state, rates in the next most expensive city (Hammonton) were only 24% more. If you view Newark as an outlier, the percentage difference between the other most expensive cities in New Jersey is low compared to other states. For example, an identical study in the state of California revealed that the Golden State’s five most expensive premiums were between 35% to 40% higher than the state’s sample property average. 

RankCityAverage Annual Rate% Difference vs State Average
1 Newark $334 49.8%
2 Hammonton 276 23.8%
3 Pleasantville 274 22.9%
4 Cedar Grove 264 18.4%
5 Verona 260 16.6%

*The Average Annual Rate is rounded to the nearest whole dollar amount.

Newark, NJ

The largest city in the state of New Jersey has a population of about 280,000 residents. It was founded in 1666 and is one of the most diverse cities in the nation. After New York City and Hartford, Newark is the next largest insurance business hub. Renters Insurance in the city costs 49.8% higher than our study’s sample property average for the state.

Hammonton, NJ

First settled in 1812, the town next to the Wharton State Forest was named after John Hammond Coffin, the son of one of the wealthiest early settlers. It’s located directly between Atlantic City and Philadelphia, Pennsylvania and the New Jersey Transit runs through it. Though much lower than Newark, renters insurance in Hammonton still costs about 23.8% higher than the rest of the state.

Pleasantville, NJ

Located just west of Atlantic City, Pleasantville has a population of roughly 22,000 residents. Sonora Webster Carver, the first female horse diver, lived in Pleasantville. The city has the third most expensive renters insurance in the state with rates 22.9% higher than the state.

Cedar Grove, NJ

The township of roughly 12,400 was ranked the 17th best overall place to live in New Jersey by New Jersey Monthly. It is home to a number of parks and recreation areas, which perhaps contributed to this recognition. However, we found that renters insurance rates in Cedar Grove were on the higher side at about 18.4% more than the state average. 

Verona, NJ

Verona is a township with numerous parks and about 13,700 residents. It's a suburban area with many families and commuters to New York City. Verona’s renters insurance is 16.6% higher than the average cost of our study’s sample property across the state.

Average Cost of Renters Insurance in New Jersey: by City

We collected dozens of renters insurance quotes for our benchmark property across 57 places in New Jersey. The sample 1,000-square-foot property we used for all cities and towns in New Jersey was used to determine a mean quote of $223, derived from quotes of five major carriers in the state. Below, we’ve shown the cities from the cheapest to the most expensive to give readers a sense of how costs vary relative to the location of the property. 

This graph ranks the locations in the Garden State from those with the most affordable renters insurance rates to the most expensive based on the model house used in our study.

Study Methodology

Our study examined renters insurance quotes for a 1,000-square-foot residence with at least $25,000 in personal property coverage and $100,000 in liability coverage. We then collected quotes for that benchmark residence from five of the major carriers that offer a renters insurance product in the state of New Jersey. We averaged rates for the sample home in each of the 57 cities and towns as a benchmark to show which places are relatively cheaper or more expensive. Those comparative values are not indicative of what tenants can expect to pay for an annual renters insurance premium. Based on hundreds of quotes for our study's sample home, we found that the most expensive city cost 72% higher than the cheapest spot in our analysis. Here is the list of the cities in alphabetical order:

RankCityAverage Annual Rate% Difference vs State Average
52 Allentown $260 16.6%
31 Annandale 219 -1.8%
41 Bernardsville 230 3.1%
33 Brick 220 -1.3%
19 Bridgewater 210 -5.8%
23 Brunswick 213 -4.5%
43 Caldwell 234 4.9%
54 Cedar Grove 264 18.4%
4 Chatham 195 -12.6%
39 Cherry Hill 229 2.7%
7 Chester 198 -11.2%
40 Collingswood 229 2.7%
28 Cranbury 214 -4.0%
10 Denville 199 -10.8%
24 Edison 213 -4.5%
44 Farmingdale 240 7.6%
25 Flemmington 213 -4.5%
8 Florham 198 -11.2%
34 Garfield 222 -0.4%
45 Hackensack 241 8.1%
56 Hammonton 276 23.8%
12 Hightstown 201 -9.9%
16 Hillsborough 207 -7.2%
50 Holmdel 246 10.3%
49 Howell 245 9.9%
21 Jackson 211 -5.4%
51 Jersey City 248 11.2%
26 Lawrenceville 213 -4.5%
47 Long Branch 243 9.0%
3 Madison 195 -12.6%
20 Manchester 211 -5.4%
17 Manville 207 -7.2%
37 Millville 224 0.4%
22 Monmouth Junction 212 -4.9%
2 Morristown 194 -13.0%
36 Mount Olive 223 0.0%
48 Neptune City 243 9.0%
18 New Brunswick 209 -6.3%
57 Newark 334 49.8%
15 Newton 202 -9.4%
35 North Brunswick 222 -0.4%
13 Pennington 201 -9.9%
55 Pleasantville 274 22.9%
14 Princeton 201 -9.9%
6 Randolph 198 -11.2%
46 Red Bank 243 9.0%
30 Sayreville 218 -2.2%
5 Stirling 195 -12.6%
29 Toms River 218 -2.2%
11 Trenton 201 -9.9%
42 Union 233 4.5%
53 Verona 260 16.6%
1 Westfield 194 -13.0%
9 Whippany 198 -11.2%
32 Willingboro 220 -1.3%
27 Windsor 213 -4.5%
38 Woodbury 227 1.8%

*The Average Annual Rate is rounded to the nearest whole dollar amount.

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