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New York Central Mutual (NYCM) is the cheapest New York homeowners insurance company among carriers surveyed. Its average rate for New York homeowners is $1,388 a year, or $115 a month

That’s $670 less than the state average of $2,058 per year and $1,389 less than the national average ($2,777).

The cost of homeowners insurance in New York varies greatly by location and company. Below we'll provide rates by ZIP code, coverage level, and more to help you shop for New York home insurance.

  • Homeowners insurance in New York costs $2,058 a year on average.
  • New York Central Mutual (NYCM) is the cheapest New York homeowner’s insurance provider in 2022, with an average annual rate of $1,388, according to data.
  • State Farm, Allstate, American Family, Chubb, and Farmers are among the best five homeowners insurance carriers in New York.

How much is homeowners insurance in New York?

The average cost of homeowners insurance in NY is $2,058 annually. It's $719 less expensive than the national average of $2,777 a year. Several factors affect your home insurance rates, including the ZIP code you live in, building cost in your area and local crime rates.

How much is homeowners insurance a month in NY? The average monthly cost of homeowners insurance in NY is $171.

Homeowners insurance rates in New York by coverage level

Below we show the average cost of New York homeowners insurance for 10 coverage levels, all with a $1,000 deductible, based on a rate analysis by As you can see, the difference in price between low liability limits and the recommended higher amount is negligible, less than $20.

Average home insurance rates by coverage level
Dwelling and liability limits with $1,000 deductibleAverage annual rateMonthly rate
$200,000 with $100,000$1,571$131
$200,000 with $300,000$1,608$134
$300,000 with $100,000$2,022$168
$300,000 with $300,000$2,058$171
$400,000 with $100,000$2,552$213
$400,000 with $300,000$2,586$216
$500,000 with $100,000$2,950$246
$500,000 with $300,000$2,997$250
$600,000 with $100,000$3,220$268
$600,000 with $300,000$3,251$271

Cheapest homeowners insurance companies in New York

NYCM Insurance, State Farm, American Family, Nationwide and AIG are the cheapest homeowners insurance companies in New York. These rates were fielded for nearly every ZIP code in the state and averaged by company and coverage level.

Shopping around for the best home insurance rate is crucial because prices for the same coverage vary by hundreds of dollars. If you don’t compare rates, you may end up overpaying.

Below are average home insurance rates for a policy with $300,000 in dwelling and liability coverage with a $1,000 deductible.

Average home insurance rates by company
Company nameAverage premiumMonthly rate
NYCM Insurance$1,388$115
State Farm$1,582$132
American Family$1,655$138

Best homeowners insurance companies in New York

These are the following are the best homeowners insurance companies based on J.D. Power ratings, A.M Best ratings and's rating (out of 5), calculated using a combination of rate data and third-party ratings, for the companies that do business in the state:

Company NameJ.D. Power ratingAM best rating (out of 5)
State Farm829A++4.51
American Family842A4.27

New York homeowners insurance rates by ZIP code

The most expensive ZIP codes for home insurance in New York are 11978 and 11976 with rates $3,456 per year and $3,608 per year respectively. The least expensive ZIP code is 14515 with an average rate of $1,470.

Many factors affect home insurance rates. Chief among them is where you live, which is why rates vary a great deal depending on your ZIP code. In addition to location, what you pay is also influenced by the following:

  • Your home's square footage
  • Building costs in your area, and your own home's construction, materials and features
  • Local crime rates
  • The likelihood of certain types of disasters, such as hurricanes

New York homeowners insurance calculator

By entering your ZIP code in the search box, you’ll see the average home insurance rate for that area, as well as the highest and lowest premium fielded from major insurers. This will give you an idea of how much you can save by comparing home insurance rates. The difference between the highest rate and the lowest rate is how much you can save by shopping around.


Average home insurance rates in CALIFORNIA

94404 - Foster City
Dwelling $200,000, Deductible $1,000 and Liability $100,000.



Most & least expensive zip codes for homeowners insurance in California

Most Expensive

Zip CodeCityHighest Rate
92391Twin Peaks$1,426
92321Cedar Glen$1,425
92352Lake Arrowhead$1,423

Least Expensive

Zip CodeCityLowest Rate
95051Santa Clara$743

Homeowners insurance rates in New York by city

Though you can see how much coverage costs for your neighborhood by using our average rates tool above, you may want to know the cost of a policy in your city, and how it compares to others. Take a look at the rates for major cities in New York.

New York home insurance by city
CityAverage rate
New Rochelle$2,393
Mount Vernon$2,471
New York City$2,797

Homeowners insurance rates in New York by company

Below are average yearly and monthly home insurance rates by company for a policy with $300,000 in dwelling and liability coverage with a $1,000 deductible. You’ll see NYCM Insurance is the cheapest among the carriers surveyed.

Average home insurance rates by company
Company nameAverage premiumMonthly rate
NYCM Insurance$1,388$115
State Farm$1,582$132
American Family$1,655$138
Heritage Insurance Holdings$1,844$154
Farmers Insurance$3,619$302

Homeowners insurance discounts in New York

There are several ways to reduce your New York home insurance costs. Many insurers will lower your bill if you purchase more than one type of insurance policy from them. This process – known as "bundling" – can cut your costs by up to 17%, on average statewide, based on’s discount data analysis. But, depending on your insurance company and homeowner profile, it could be higher or lower.

You can also cut your costs by making your home more disaster-resistant. Installing hurricane glass or accordion shutters might net you a discount.

Other possible home insurance discounts include:

  • Installing smoke detectors, a burglar alarm or dead-bolt locks -- 2%, 5%, and 1%, respectively.
  • Installing a sprinkler system and a fire and burglar alarm -- 6% to 7% percent
  • Loyalty discounts – about 7% on average, after three to five years, and 7% for ten years or more

Home-auto bundle discounts in New York

Homeowners who buy coverage for both home and auto from the same company can save an average of $203 a year, or 19%, based on’s rate analysis. However, savings vary by company and homeowner profile. Here is how major New York companies compare on bundle discounts.

Home-auto bundle discounts in NY
CompanyAverage $ savingsAverage % savings
American International$212%
NBIC holdings$705%
Kingstone Insurance Co$14110%
State Farm$27224%

Frequently asked questions: New York home insurance

What can you do when denied home insurance in New York?

The New York Property Insurance Underwriting Association offers the FAIR Plan for property owners who can't get home insurance elsewhere.

A FAIR Plan offers coverage similar to any home insurance policy. It protects against fire, lightning, explosion, vandalism, snow damage and other perils. It also offers extended coverage for windstorms and hail coverage.

However, FAIR Plan coverage is typically more restrictive – and more expensive – than standard homeowners insurance.

How do I file a complaint against my home insurance company?

The New York Department of Financial Services is the place to go if you need to file a complaint about a home insurance company.

You can also file an online complaint using a Consumer Complaint Form. When you file a complaint, you'll need your insurance company's name, the policy number and claim number, if appropriate, and related documents, such as letters and photos, and information about the issue.

Is flood insurance covered by New York home insurance?

Flood insurance isn't part of a regular home insurance policy. Instead, homeowners need to buy a separate policy either through the National Flood Insurance Program (NFIP) or a home insurer that works with the NFIP to protect your home from water damage.

Learn more about flood insurance in New York here.

How do hurricane and windstorm deductibles work in New York?

New York is one of 19 states that allows hurricane deductibles. Home insurance companies may implement a hurricane deductible on your property if it believes it's at risk.

Hurricane or windstorm deductibles are usually between 1% and 5%. So, if your home has a hurricane or windstorm deductible, you’ll be responsible for that part of the claim.

If your home is a candidate for a hurricane deductible, you discuss it with the insurance company. An insurer may waive the deductible if you lower the home's risk, such as by adding hurricane shutters.

Methdology commissioned Quadrant Data Services in 2022 to provide homeowners insurance rates across all New York ZIP codes for dwelling coverage ranging from $200,000 to $600,000 with liability limits of either $100,000 or $300,000 and a $1,000 deductible. Content is updated for 2023.

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