Homeowners Insurance in New York

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

How to get inexpensive homeowners 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. Home insurance protects your house and property in the event of an array of circumstances, including wind damage, fire, theft, vandalism, and more.

Unlike auto insurance, home insurance isn't priced based on state laws. Even so, large gulfs exist in home insurance costs from state to state. Home insurance costs in US states vary based on the frequency of — and value of — homeowners claims submitted in that state, and depend on the value of the belongings and home insured on the policy.

The best way to get a cheap homeowners insurance policy in New York is to compare rates and consider policies from as many insurance companies as you can. Find out typical homeowners insurance rates in New York by referencing the below tables. Your rates may vary, depending on your coverage limits.


Home insurance in New York:
  1. Rates by company
  2. Rates by city
  3. Home-and-auto bundling discounts
  4. FAQs

Home insurance prices in New York by insurer

Home insurance prices in New York vary depending on which insurance company you select. MetLife sells the cheapest home insurance policies in New York — only $742 yearly. This compares favorably to the state average price of $1,262, providing a $520 discount on average policy costs statewide.

Start looking for cheap homeowners insurance by checking out the cheapest New York carriers, listed below.


HOME INSURANCE RATES IN NEW YORK: BY COMPANY
CompanyAverage Yearly 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 prices: by city

Not all New York cities have equal homeowners insurance rates. Policy pricing may depend on city-specific variables, such as the likelihood of weather-related claims in the area, meaning your ZIP code could have a major impact on how much you pay.

The cheapest homeowners insurance in New York is available in Irondequoit. A typical home insurance term in Irondequoit totals just $859 annually — $402 less than the state average. Reference the below table to see the cheapest cities in New York for home insurance.


AFFORDABLE HOME 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

New York insurance bundling discounts: home + auto

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


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

One of the best ways to save on auto insurance is to bundle policies. Find a policy today!


Looking for insights on home insurance in a particular city? Check out our breakdown of large New York cities:

  1. Buffalo
  2. New York

New York homeowners insurance FAQs


Does GEICO have homeowners insurance in New York?

Yes - if you live in and own a home in New York, GEICO is an option for homeowners insurance.

Do you have to have homeowners insurance in New York state?

There is no state mandate to have homeowners insurance in New York, but your lender will likely require you to have coverage.

What companies in New York state offer home mortgage insurance?

Home mortgage insurance is usually arranged by your lender and who the insurance provider typically depends on the lender's requirements.


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.


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