How much is renters insurance in Birmingham, NJ

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The average cost of renters insurance in Birmingham, NJ is $212 per year (for insurance coverage of $40,000 in personal property coverage, $300,000 in liability coverage and $1000 as deductible) — that’s $5 more than the state average of $207 a year.

It can be higher or lower depending on the coverage limit you choose and the amount of liability the policy provides. If you live in a rented apartment or home, you should consider buying renters insurance because it protects your personal belongings from damage caused by covered perils such as fire or smoke damage, theft, vandalism and other mishaps.

We did a thorough analysis of renters insurance companies to find the most affordable options for Birmingham renters. Keep reading to find out the cheapest renters insurance companies in Birmingham.

Key Takeaways

According to Insure.com’s data study, renters insurance costs an average of $212 per year or $18 per month in Birmingham.
New Jersey Manufacturers has the cheapest renters insurance for Birmingham renters at $11 per month.
Taking advantage of discounts, such as having a security system or bundling renters insurance with other insurance policies, can help reduce your insurance premiums.

What is the average cost of renters insurance per month in Birmingham?

On average, the cost of renters insurance in Birmingham is $18 a month. It’s $1 more than the state average of $17. Renters in Birmingham pay these rates for the coverage limit of $40,000 in personal property coverage, $1,000 deductible and $300,000 in liability protection coverage.

The renters insurance rates vary by city depending on your insurance provider and the coverage limits you choose. For example, renters in Birmingham pay $13 per month for personal property coverage of $20,000 and a $1,000 deductible. However, if you decide to increase the personal property coverage limit to $40,000, you will pay $5 more for renters insurance.

Now, you’ll have to decide how much coverage you need and how much you can afford. However, it is recommended that you choose higher coverage limits if your personal belongings consist of expensive jewelry, furniture and electronics.

How much is renters insurance in Birmingham by deductible?

The renters insurance cost in Birmingham is $167 per year for a $500 deductible and $20,000 as personal property coverage.

A deductible is an amount you agree to pay before your insurance coverage kicks in. If you increase your deductible limit, your insurance cost will go down. For instance, if the personal property coverage is the same, i.e., $20,000, but you increase your deductible limit from $500 to $1,000, you will pay $13 less every year for insurance.

Below are the renters insurance rates for different personal property coverage and deductible amount.

Deductible	$20000 personal property	$40000 personal property	$60000 personal property
$500	$167	$232	$299
$1,000	$154	$212	$274

Read our guide to know what does renters insurance cover.

Who offers cheap renters insurance in Birmingham?

Your quest for the cheapest renters insurance ends here.

New Jersey Manufacturers provides the cheapest rates in Birmingham, with an annual premium of $132 or $11 per month. State Farm is the second cheapest company, followed by American Family.

Insure.com’s experts have compared renters insurance quotes from all the national and regional carriers in Birmingham to create a list of the most affordable insurers. Below is a list of the cheapest renters insurance companies and their average annual and monthly rates.

Renter insurance provider	Average annual rate	Average per month rate
New Jersey Manufacturers	$132	$11
State Farm	$158	$13
American Family	$172	$14
Chubb Ltd	$209	$17
Franklin Mutual	$224	$19
Allstate	$228	$19
Farmers	$258	$22
Plymouth Rock Assurance	$314	$26
USAA	$187	$16

Tips for reducing renters insurance cost

Here are some tips to help reduce renters insurance costs in Birmingham:

Bundle insurance policies: If you have other insurance policies, such as car insurance, consider bundling them with the same insurer. Many insurers offer discounts for bundling in Birmingham.

Increase deductible: Opting for a higher deductible can lower your premium in Birmingham, but make sure you’re comfortable with the amount you’d pay out-of-pocket in case of a claim.

Choose the right coverage: Review your policy regularly to ensure you don’t have extra coverage. For example, you might not need as much coverage for personal property if you don’t own many valuables.

Avoid small claims: Filing too many small claims can increase your rates over time. Consider paying for minor damages out-of-pocket instead of claiming them through insurance.

Shop around: Don’t settle for the first quote you receive. Compare renters insurance quotes in Birmingham from multiple providers to find the best price for the coverage you need.

Final thoughts

Renters in Birmingham, NJ should purchase renters insurance to protect their personal belongings, provide liability coverage, and cover additional living expenses if their rental becomes uninhabitable due to a covered event. Premiums may differ based on location, coverage amount and individual circumstances, but the peace of mind it offers is worth the investment. You can get an affordable policy that fits your budget by assessing your coverage needs, comparing quotes and taking advantage of available discounts.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Birmingham for $40,000 personal property coverage, $300,000 liability coverage, and a $1000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.