Homeowners Insurance in New York

Finding homeowners insurance shouldn't be complicated. Compare New York state rates by city and carrier below.

Find cheap home insurance in New York


Home insurance is an optional but important insurance coverage. It keeps your investment insured in the event your house suffers damage from a common incident. A homeowners policy protects your dwelling, personal property, and other buildings in the event of a variety of circumstances, such as fire, theft, vandalism, or wind damage.

Major gaps exist in homeowners insurance costs on a state-by-state basis. Insurance policy prices by state vary based on the value and number of home policy claims lodged in that particular state, and also on the price of the belongings and home you're insuring.

The best way to find a cheap home insurance policy in New York is to compare rates and consider policies from as many homeowners insurance companies as you can. Learn more about home insurance rates in New York via the below breakdown. Your rates may vary, depending on your coverage details.


New York home insurance:
  1. By company
  2. Rates by city
  3. Bundling discounts


Home insurance prices in New York by company

Homeowners insurance rates in New York vary based on the insurance company you use. MetLife offers the most affordable home insurance in New York, at just $742 annually. This compares favorably to the state's average cost of $1,262, offering a $520 discount on rates typical to the state.

Begin the hunt for cheap home insurance by checking out the cheapest New York home insurance carriers, listed below.


THE CHEAPEST HOMEOWNERS INSURANCE COMPANIES IN NEW YORK
CompanyAverage Annual Rate in New York
MetLife$741.64
State Farm$748.36
NYCM Insurance$812.35
Travelers$847.09
Preferred Insurance$900.40


New York home insurance costs by city

Home insurance rates in New York vary depending on the city. Policy rates rely on on city-specific variables like the number of homeowners claims filed nearby, meaning your specific ZIP code impact how much you pay.

The most affordable home insurance in New York is found in Irondequoit. An average home insurance policy in Irondequoit costs just $859 per year — $402 less than the statewide average. The below cities have the most affordable home insurance in New York.


AFFORDABLE HOMEOWNERS INSURANCE BY CITY IN NEW YORK
CityAverage Yearly Home Insurance Rate
Irondequoit$859.23
Cheektowaga$896.68
Tonawanda$910.66
Binghamton$941.41
Rochester$986.86


How to save: bundle home and auto insurance in New York

If you want to save on insurance, consider purchasing both your home and auto insurance policies from one company. Bundling auto and home insurance in New York can save you a substantial sum each month on your auto insurance bill. Bundling home and auto policies in New York results in yearly savings of $95.


HOME AND AUTO INSURANCE BUNDLING SAVINGS IN NEW YORK
Avg. Annual Auto Insurance Rate (No Bundle)Avg. 12-Month Auto Insurance Rate (Bundle)Annual Bundle SavingsBundle Savings %
$1,602.00$1,507.00$95.006%


A great way to save is to bundle your auto and homeowners insurance policies. Start shopping today!


Compare rates from top car insurance companies.

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Homeowners insurance and hurricanes in New York

Because hurricanes can cause calamitous destruction and demolish buildings entirely, insurance companies are unwilling to assume the risks posed by hurricanes. If you own a home in New York, there could be increased risk of experiencing damage from hurricanes. In fact, 75,238 single-family residences are at extreme risk of hurricane damage in New York.*

If you live near the coast, it's of utmost importance to confirm the details of your homeowners policy since a basic policy won't be enough to cover damage caused by hurricanes — you would need separate flood and windstorm insurance policies, which would work together to cover the damages. Depending on your state, your insurance company may require a separate hurricane deductible if you live in a region that's especially vulnerable.

*Source: Insurance Information Institute (https://www.iii.org/fact-statistic/facts-statistics-hurricanes)

 

Flood insurance in New York state

Damage via flooding — whether the byproduct of a rainstorm or a hurricane — is not covered by homeowners insurance policies.

To insure your home against flood damage, you should buy flood coverage from a private flood insurance company or through FEMA's National Flood Insurance Program (NFIP). Flood insurance coverage from private companies may vary, but NFIP flood insurance covers:

  • $250,000 structural coverage
  • $100,000 personal property coverage

If the value of your home and personal property exceed these limits, consider finding a policy from a private company.

Flood insurance is especially important in New York, which paid out $992,108 in flood insurance claims in 2016, according to data from FEMA.