Best homeowners insurance in New York 2024
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Updated 2:45 a.m. UTC July 4, 2024
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State Farm has the best homeowners insurance in New York in 2024. Nationwide and Travelers also get 5-star ratings in our analysis of availability, rates and customer satisfaction.
Best homeowners insurance companies in New York
- State Farm: Best home insurance in New York.
- Nationwide: Best home insurance for high-value houses.
- Travelers: Great home insurance for customer satisfaction.
- National General: Great home insurance for customized coverage.
- Farmers: Good home insurance for home and auto bundling.
Why trust our home insurance experts
Our team of home insurance experts has decades of experience as licensed property and casualty experts, insurance editors and consumers. We approach home insurance analysis as if we were shopping for ourselves or our family members, focusing on rates, coverage upgrades and consumer complaints.
Using a data-driven methodology, we evaluate hundreds of home insurance products, analyze thousands of data points and rate each insurer to help you find the best home insurance product for your situation. Advertisers never influence our editorial content. You can read more about our methodology below.
- 112 New York home insurance rates reviewed.
- 28 New York home insurance companies evaluated
- 5 levels of fact-checking.
Top-rated home insurance companies in New York
What is the average cost of homeowners insurance in New York?
According to our analysis of New York rates, homeowner’s insurance costs an average of $1,582 per year, or $132 per month, for a policy with $350,000 in dwelling coverage.
Your home insurance premium will be determined by a number of factors, including:
- The age and condition of your house.
- Your ZIP code.
- Your dwelling coverage limit.
- Your claims history.
- Your deductible.
Cost of home insurance in New York by dwelling coverage limit
Here’s how much homeowners insurance costs in New York by dwelling coverage limit, which reflects a house’s rebuild value. This is according to the companies we analyzed in our top-scoring analysis.
| DWELLING COVERAGE LIMIT | AVERAGE NY ANNUAL COST |
|---|---|
$200,000
| $955
|
$350,000
| $1,582
|
$500,000
| $2,286
|
$750,000
| $3,393
|
Cheapest home insurance in New York
The cheapest home insurance company in New York is Ocean Harbor, followed by Merchants and New York Central Mutual (NYCM).
Here’s how much home insurance companies in New York charge for a home insurance policy with $350,000 in dwelling coverage.
| COMPANY | AVERAGE ANNUAL COST | AVERAGE MONTHLY COST | LEARN MORE | |||||
|---|---|---|---|---|---|---|---|---|
 Ocean Harbor | $395 | $33 | Compare Rates Compare rates offered by participating partners | |||||
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 Merchants | $574 | $48 | Compare Rates Compare rates offered by participating partners | |||||
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 NYCM | $595 | $50 | Compare Rates Compare rates offered by participating partners | |||||
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 Kemper | $610 | $51 | Compare Rates Compare rates offered by participating partners | |||||
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 American Family | $650 | $54 | Compare Rates Compare rates offered by participating partners | |||||
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 Kingstone | $757 | $63 | Compare Rates Compare rates offered by participating partners | |||||
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| $843 | $70 | Compare Rates Compare rates offered by participating partners | ||||||
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| $898 | $75 | Compare Rates Compare rates offered by participating partners | ||||||
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 Ontario Insurance | $904 | $75 | Compare Rates Compare rates offered by participating partners | |||||
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 Preferred Mutual | $908 | $76 | Compare Rates Compare rates offered by participating partners | |||||
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 Sterling | $944 | $79 | Compare Rates Compare rates offered by participating partners | |||||
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 Travelers | $966 | $81 | Compare Rates Compare rates offered by participating partners | |||||
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 Security Mutual | $968 | $81 | Compare Rates Compare rates offered by participating partners | |||||
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 Dryden Mutual | $1,021 | $85 | Compare Rates Compare rates offered by participating partners | |||||
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 National General | $1,090 | $91 | Compare Rates Compare rates offered by participating partners | |||||
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 Heritage | $1,190 | $99 | Compare Rates Compare rates offered by participating partners | |||||
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| $1,309 | $109 | Compare Rates Compare rates offered by participating partners | ||||||
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 United | $1,316 | $110 | Compare Rates Compare rates offered by participating partners | |||||
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 Palisades | $1,348 | $112 | Compare Rates Compare rates offered by participating partners | |||||
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 Tri-State Consumer | $1,386 | $116 | Compare Rates Compare rates offered by participating partners | |||||
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 Kensington | $1,430 | $119 | Compare Rates Compare rates offered by participating partners | |||||
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| $1,431 | $119 | Compare Rates Compare rates offered by participating partners | ||||||
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 Utica | $1,457 | $121 | Compare Rates Compare rates offered by participating partners | |||||
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| $1,672 | $139 | Compare Rates Compare rates offered by participating partners | ||||||
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 PURE | $1,920 | $160 | Compare Rates Compare rates offered by participating partners | |||||
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 Hanover | $2,465 | $205 | Compare Rates Compare rates offered by participating partners | |||||
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 Foremost | $4,445 | $370 | Compare Rates Compare rates offered by participating partners | |||||
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How to save money on your homeowners insurance in New York
To find cheap home insurance in New York, compare home insurance quotes from at least three different insurers.
You can also consider raising your deductible. Your deductible is the amount subtracted from your property damage claim before your insurer issues a payout. The higher your deductible, the cheaper your home insurance rates will be, but it also means you’ll be paid out less in the event of a claim.
It’s also important to check out what types of home insurance discounts you might be able to qualify for.
Expert tip: Home insurance doesn’t cover all types of damage. What home insurance does and doesn’t cover
How to find the best home insurance in New York
When you’re buying home insurance in New York, it’s important to take your time and do your research. There are plenty of companies that offer cheap homeowners insurance in New York, but they can differ greatly when it comes to discounts, coverage options and customer service.
Here are some of the most helpful things to consider as you look for a home insurance policy in New York.
- Estimate your coverage needs. A good home insurance policy should be comprehensive enough to cover the full cost of rebuilding your house after a covered disaster. It should also include enough liability coverage to cover the amount of assets you risk losing if you’re sued in relation to a personal injury or property damage.
- Consider add-ons. You may want to add coverage for things that are excluded from your policy, such as damage caused by water backups or extra coverage for expensive belongings that have maximum payout limits for theft, like jewelry.
- Look into discounts. There are a number of discounts you might qualify for that could score you cheap home insurance in New York. It’s worth asking about any discounts that are available to see what you may be able to claim.
- Compare quotes. It’s helpful to compare homeowners insurance quotes from at least three insurers to see how much you might pay with different companies.
Common natural disasters in New York
New York’s geography and location make it more prone to certain types of natural disasters than other states. The types of hazards homeowners may encounter across New York state include:
- Floods.
- Ice storms.
- Severe storms that produce lightning, hail and high winds.
- Tornadoes.
- Tropical storms and hurricanes.
- Wildfires.
- Winter storms, including those that produce blizzard conditions.
Expert tip: New York home insurance policies can include coverage for wind damage, but a separate deductible may be applied for wind damage claims, depending on the insurer.
Home insurance coverage considerations in New York
Depending on where you live in New York, you may need extra or separate coverage to fully financially protect your property and fill in any coverage gaps from your home insurance policy.
Flood insurance
Home insurance never covers damage caused by any form of flooding — storm surges, hurricanes and river overflow are all excluded from coverage. Flooding is becoming more common in New York — New York City saw over a combined 21 inches of rainfall from Sept. 28 to Sept. 29, 2023.
You can purchase flood insurance through your home insurance company if it partakes in the National Flood Insurance Program (NFIP), a FEMA-backed organization. Another option is to buy private flood insurance.
Extended replacement cost or guaranteed replacement cost coverage
You may want to upgrade your dwelling coverage to extended or guaranteed replacement cost. In the event that a natural disaster in New York results in an increase in demand and price for labor and construction costs, these add-ons can extend coverage so you’re not underinsured.
- Extended replacement cost: This add-on extends your original dwelling coverage limit by 10% to 50% depending on the insurance company.
- Guaranteed replacement cost: This upgrade will make sure your house is rebuilt no matter how much it costs and no matter what your original dwelling limit was set to.
Methodology
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- Rates: 75 points. Our home insurance experts analyzed home insurance rates from Quadrant Information Services. The average rates are based on policies with dwelling coverage of $200,000, $350,000, $500,000 and $750,000. The homeowner profile was a 40-year-old female with a good credit score and no claims history.
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- Personal property coverage: 50% of dwelling coverage limit.
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- Other structures coverage: 10% of dwelling coverage limit.
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- Loss of use coverage: 10% of dwelling coverage limit.
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- $500 deductible.
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- Liability insurance: $100,000.
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- Medical payments coverage: $1,000.
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- Rates: 75 points. Our home insurance experts analyzed home insurance rates from Quadrant Information Services. The average rates are based on policies with dwelling coverage of $200,000, $350,000, $500,000 and $750,000. The homeowner profile was a 40-year-old female with a good credit score and no claims history.
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- Consumer complaints: 25 points. We collected complaint data from the National Association of Insurance Commissioners (NAIC), which shows the volume of home insurance consumer complaints against each company to state insurance departments.
Best homeowners insurance in New York FAQs
In New York, home insurance companies can cancel your home insurance policy in the first 60 days it is in effect as long as they give a written explanation of why. Home insurance companies in New York can also cancel past the first 60 days if you don’t pay your premiums or if you commit fraud.
Insurers must notify you of nonrenewal in at least 45 days, but not more than 60 days before the home insurance policy expires. If your policy is canceled or nonrenewed, you may be able to appeal it. You should also consider shopping around for a new home insurance company.
New York doesn’t require homeowners to purchase insurance. Your mortgage company may require you to have homeowners insurance in place for the duration of your loan.
The average cost of homeowners insurance in New York is $1,352 per year. Rates will vary based on your ZIP code and other factors, like the age and build materials of your house and roof and your claims history.
Based on our analysis of rates and customer complaints, State Farm offers the best home insurance in New York. We also rate Nationwide and Travelers 5 stars.
No, you are not required by law to purchase any special homeowners insurance coverage in New York. However, your home insurance company in New York may require a windstorm deductible. These deductibles are typically set at 1% to 5% of your dwelling coverage limit and are triggered when your house is damaged by wind.
Your mortgage lender may require you to purchase special homeowners insurance coverage in New York. If you live in an area that’s high risk for flood damage, for example, your lender may require you to purchase flood insurance.
No, you are not required by law to purchase flood insurance in New York, but your mortgage lender may require you to do so.
Depending on your insurance company, you may be able to get flood insurance through the National Flood Insurance Program (NFIP).
No, earthquake insurance is not required in New York, but you may want to consider buying it. Home insurance excludes coverage for earthquake damage.
How much you pay for home insurance in New York depends on many factors, including the rebuild value of your house, your ZIP code, claims history and the value of your overall assets.
Comparing home insurance quotes from several insurers can help ensure you’re getting the best deal for your coverage needs.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
