- Best homeowners insurance companies in New York: State Farm
- Cheapest homeowners insurance companies in New York: American Family
- Average home insurance cost in New York
- New York homeowners insurance rates by ZIP code
- Homeowners insurance rates in New York by city
- Homeowners insurance discounts in New York
- Methodology
- Home insurance FAQs
- Compare homeowners insurance rates with other states
Best homeowners insurance companies in New York: State Farm
The best home insurance company in New York for 2024 is State Farm. Chubb, American Family, Nationwide, AIG, and Allstate are among the top home insurance companies in New York based on price, NAIC complaints, and AM Best financial ratings.
The total Insurance.com score is calculated out of five using these factors.
| Company | AM Best | NAIC complaint ratio | Insurance.com score | Average annual rate |
|---|---|---|---|---|
| State Farm | A++ | 0.83 | 4.44 | $1,264 |
| Chubb | A++ | 0.18 | 4.18 | $1,987 |
| American Family | A | 0.80 | 3.93 | $914 |
| Nationwide | A+ | 1.05 | 3.67 | $1,540 |
| AIG | Null | 0.09 | 3.51 | $1,564 |
| Allstate | A+ | 1.46 | 3.26 | $1,876 |
| Travelers | A++ | 1.10 | 3.18 | $1,606 |
| Farmers | A | 0.67 | 2.78 | $3,330 |
Cheapest homeowners insurance companies in New York: American Family
Below are New York home insurance rates by company for five different levels of dwelling coverage, each with $300,000 in liability and a $1,000 deductible. Based on our analysis, American Family offers the cheapest home insurance in New York for all five coverage levels.
| Company | $200,000 | $300,000 | $400,000 | $600,000 | $1,000,000 |
|---|---|---|---|---|---|
| American Family | $794 | $914 | $1,151 | $1,633 | $2,514 |
| NYCM Insurance | $849 | $1,108 | $1,348 | $1,977 | $3,433 |
| State Farm | $837 | $1,264 | $1,704 | $2,665 | $4,606 |
| Nationwide | $1,120 | $1,540 | $1,958 | $2,877 | $4,602 |
| AIG | $1,239 | $1,564 | $2,072 | $2,998 | $4,862 |
| Travelers | $1,173 | $1,606 | $2,077 | $3,092 | $5,111 |
| Heritage Insurance | $1,280 | $1,663 | $2,008 | $2,835 | $5,077 |
| Allstate | $1,554 | $1,876 | $2,322 | $3,285 | $5,273 |
| Chubb | $1,405 | $1,987 | $2,563 | $3,726 | $6,056 |
| Farmers | $2,325 | $3,330 | $4,456 | $6,844 | $10,971 |
Average home insurance cost in New York
The average cost of homeowners insurance in New York is $1,816 annually or $151 monthly. That's based on coverage of:
- $300,000 dwelling
- $300,000 liability
- $1,000 deductible
- 2% hurricane deductible
Your rates will vary based on where you live, your home and the coverage you need.
New York homeowners insurance rates by ZIP code
Many factors affect home insurance rates. Chief among them is where you live, so rates vary greatly depending on your ZIP code.
The most expensive ZIP codes in New York for home insurance
North Carolina homeowners insurance rates are the most expensive for ZIP code 11976, with an average annual cost of $3,617.
| ZIP code | Annual annual rate |
|---|---|
| 11976 | $3,617 |
| 11978 | $3,519 |
| 11968 | $3,506 |
| 11954 | $3,494 |
| 11975 | $3,493 |
| 11932 | $3,492 |
The least expensive ZIP codes in New York for home insurance
| ZIP code | Average annual rate |
|---|---|
| 14515 | $1,265 |
| 14514 | $1,268 |
| 14468 | $1,268 |
| 14586 | $1,275 |
| 14445 | $1,275 |
| 14086 | $1,275 |
New York homeowners insurance calculator
Enter your ZIP code in the search box to see that area's average home insurance rate and the highest and lowest premiums fielded from major insurers. Comparing home insurance rates will give you an idea of how much you can save.
Home insurance calculator
Average home insurance rates in TexasMost & least expensive ZIP codes for homeowners insurance in Texas
Most expensive
| ZIP Code | City | Highest Rate |
|---|---|---|
| 77550 | Galveston | $10,164 |
| 77586 | El Lago | $9,906 |
| 77551 | Galveston | $9,536 |
| 77554 | Galveston | $9,358 |
Least expensive
| ZIP Code | City | Lowest Rate |
|---|---|---|
| 78559 | Iglesia Antigua | $1,956 |
| 78593 | Santa Rosa | $1,999 |
| 79915 | El Paso | $2,008 |
| 79905 | El Paso | $2,009 |
Homeowners insurance rates in New York by city
Rates vary by city; below are some sample rates for various cities in New York.
| City | Average annual rate |
|---|---|
| New York | $2,688 |
| Mount Vernon | $2,116 |
| New Rochelle | $2,043 |
| Yonkers | $2,019 |
| Utica | $1,674 |
| Albany | $1,656 |
| Schenectady | $1,575 |
| Buffalo | $1,558 |
| Syracuse | $1,543 |
| Rochester | $1,483 |
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 Insurance.com’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 deadbolts -- 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
Methodology
Insurance.com commissioned Quadrant Data Services in 2023 to provide homeowners insurance rates across all New York ZIP codes for dwelling coverage ranging from $200,000 to $1,000,000 with liability limits of $300,000 and a $1,000 deductible (2% for hurricanes). The content is updated for 2024.
Home insurance FAQs
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 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.
Does New York home insurance cover floods?
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.
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 include a hurricane deductible on your policy.
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 by adding hurricane shutters.
Compare homeowners insurance rates with other states
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