Best Condo insurance in New York

The beauty of a condo is that it offers you the chance to own your very own place while sharing expenses like insurance and maintenance with other owners. You also get all sorts of amenities, making this an excellent investment.

Condo insurance is necessary for those who live in a condominium and it's better than just having insurance from the homeowners association. You want to make sure that you are fully covered in case of an emergency, and that your policy will protect you from any potential damage.

Read this guide to know about the best condo insurance companies in New York, average condo insurance cost, most and least expensive zip codes for condo insurance, and condo insurance rates by carrier.

Best condo insurance companies in New York

In New York, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction rating of all the major insurers across New York. Below are the best condo insurance companies in New York based on Insurance.com's analysis.

• USAA
• State Farm
• Allstate
• Farmers
• Nationwide

Compare best condo insurance companies in New York

When it comes to finding the best condo insurance company in New York, it can be difficult to know where to start. There are a lot of different options out there, and it can be hard to figure out which company is the right fit for you.

That's why we've put together a list of the best condo insurance companies. We've compared the insurance providers based on their J.D. Power score and AM Best rating to help you make the best decision.

Among the carriers surveyed, USAA scored the highest J.D. Power score, it has earned 882 scores out of 1000 and A++ ratings from AM Best. However, USAA only offers services to military veterans and their families. If you don't qualify for condo insurance from USAA, you can purchase an insurance policy from State Farm. It has received 835 scores out of 1000 from J.D. Power and AM Best rated it A++.

Compare insurance carriers and their ratings to choose the one that best suits your needs.

Average cost of condo insurance in New York

Condo owners in New York pay an average of $449 a year or $37 monthly for insurance coverage of $40,000 in personal property coverage, $100,000 in liability coverage, and $1000 as deductible. There are several factors that affect the price of condo insurance. The size and value of the condo are two key factors, as larger and more expensive condos will tend to have higher premiums.

As with most types of insurance, the best way to get a low rate on condo insurance is to shop around, compare quotes and coverage options from different providers. By comparing rates, you can find the policy that best fits your needs and budget.

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CONDO INSURANCE CALCULATOR

Average condo insurance rates in NEW YORK

Zip

Personal Property Coverage Covers your personal belongings, such as your furniture, electronics, clothing, artwork, etc. Choose the amount you believe would cover all of your belongings.

$40,000$60,000$80,000$100,000 $60,000

Deductible Choose the amount you want to pay out-of-pocket before insurance kicks in. This applies to your dwelling and personal belongings claims.

$1,000 $1,000

Liability Covers the medical expenses of people who are hurt while in your home or on your property, as well as damage you caused to others’ property. Also covers legal fees if you are sued by someone hurt in your home or on your property. Limits of $300,000 or $500,000 are recommended.

$100,000$300,000 $100,000

SEARCH

11225 - New York

Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $685

HIGHEST RATE: $2,040 LOWEST RATE: $222

Most & least expensive zip codes for condo insurance in New York

Most Expensive

Zip Code	City	Highest Rate
10022	New York	$702
10065	New York	$702
10021	New York	$702
10028	New York	$702

Least Expensive

Zip Code	City	Lowest Rate
14508	Morton	$448
14526	Penfield	$448
14468	Hilton	$449
14580	Webster	$449

• Methodology ×

  Insurance.com commissioned Quadrant Information Systems to provide condo insurance rates for nearly every ZIP code in the country from up to six major insurers. The applicant profile is of a married, 35-year-old who has filed no claims in five years. Coverage includes dwelling coverage of $50,000, medical payments coverage of $5,000, contents replacement at replacement value and loss of use at 10 percent of personal property limit.

  METHODOLOGY +

Condo insurance rates by companies in New York

Based on Insurance.com's rate analysis, Automobile Ins Co Of Hartford CT is the cheapest condo insurance company in New York. Its average annual premium for New York residents is $256---$193 less than the state average ($449).

While the cost of condominium insurance will vary depending on your insurance provider, location, the coverage limits, and the deductible amount you choose. It's important to compare rates from multiple insurance companies to ensure you're getting the best deal.

Below are the companies that provide the most affordable condo insurance policies to New York homeowners along with their average annual premium.