Newark Renters Insurance

The Zebra
July 23, 2019

Renters insurance in Newark


It's very important to maintain renters insurance if you're renting a house or apartment. Renters insurance covers your rental unit — and the personal property within it — against a variety of harms, such as fire, theft, vandalism, and wind damage. As these circumstances are fairly common, the affordability of rental coverage, and the potentially high cost of replacing your belongings, a renters insurance policy is a solid investment.

The cost of renters insurance relies on a variety of factors, including the building's age, its material constitution, its geographic location, and the pricing rules of your insurance company. In areas prone to events such as fire, lightning, wind, or hail, renters insurance policies may be more expensive to account for the extra risk.

The average yearly price of renters insurance in Newark is $186.

Finding affordable renters insurance in Newark begins with shopping around and comparing policies. Check out our breakdown of average Newark renters insurance costs to ensure you start your search with as much background info as possible. Note that rates will vary based on coverage limits and other factors.


Newark renters insurance:

  1. Rates by company
  2. Rates by coverage level
  3. Renters and auto insurance discounts

Renters insurance rates in Newark — popular companies

How much you pay for renters insurance in Newark depends on the insurer you choose. For instance, USAA offers the cheapest renters insurance in Newark, at just $102 per year. That's less expensive than the city's average cost of $186, providing an $85 price cut on typical rates in the city.

Start your search for a renters insurance policy by reviewing the cheapest companies in Newark.


AFFORDABLE RENTERS INSURANCE COMPANIES IN NEWARK
CompanyAverage Annual Rate in Newark
USAA$102
Germantown$120
State Farm$125
Fidelity$150
Cumberland Insurance Group$162

Newark renters insurance pricing by coverage level

The cost of your renters insurance policy will be influenced by the amount of coverage you opt to carry. Two of the most common levels of renters insurance coverage are $25,000 and $50,000. In Newark, the annual cost differential between these levels is roughly $85. If you can afford to insure your personal property at this additional expense, purchasing more coverage might not be a bad idea.

Coverage LevelAverage Annual Rate in Newark
$25K Property$144
$50K Property$229

How to save: bundle your renters and car insurance

If you’re trying to save, purchase your renters and auto policies from a single company. Bundling renters and car insurance in Newark can save you a substantial sum each month on your auto insurance bill. In fact, bundling renters and auto insurance leads to average savings of 4.1% on car insurance premiums. The auto insurer with the cheapest bundled rate is New Jersey Manufacturers, followed by GEICO and Progressive.


AUTO AND RENTERS INSURANCE BUNDLING DISCOUNTS IN NEWARK
Annual Bundle SavingsBundle Savings %
$944.1%

Need renters insurance? Talk to an expert today.