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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.

KEY TAKEAWAYS
  • Condo owners in New York pay an average of $469 per year or $39 per month in condo(HO6) insurance.
  • Automobile Ins Co Of Hartford CT is the cheapest condo insurance company in New York at only $256 per year.

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.

CompanyJ.D. Power scoreAM Best rating
USAA882A++
State Farm835A++
Allstate829A+
Farmers813A
Nationwide812A+
Safeco810A
Liberty Mutual806A
Travelers800A++

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.

Average annual premiumAverage monthly premium
$449$37

CONDO INSURANCE CALCULATOR

Average condo insurance rates in NEW YORK

$60,000
$1,000
$100,000
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 CodeCityHighest Rate
10021New York$702
10028New York$702
10022New York$702
10065New York$702

Least Expensive

Zip CodeCityLowest Rate
14526Penfield$448
14508Morton$448
14420Brockport$449
14468Hilton$449

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.

CompanyAverage annual premium
Automobile Ins Co Of Hartford CT$256
Allstate$277
State Farm$321
Nationwide$325
Travelers$357
Liberty Mutual$366
New York Central$372
LM Insurance$389
Farmers$423
Safeco$461
Great Northern Insurance$479
First Liberty$490
USAA$566
Foremost$817

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