Best renters insurance companies in New York

When choosing the best renters insurance company in New York, make sure you’re comparing on more than just price. We’ve compared quotes, coverage options and J.D. Power scores from all the major insurers in New York. Below is our list of best renters insurance companies in New York based on that analysis, with our score out of five. Note that USAA only offers coverage to military families.

CompanyAverage rating(out of 5)
State Farm4
Allstate3.5
Nationwide3.5
Travelers3.5
USAA3.5
American Family3
Farmers2.5

Compare the best renters insurance companies in New York

Comparing quotes from multiple insurance carriers is one way to ensure you will get your money’s worth. There can be big differences in price between different renters insurance providers, so it pays to shop around. Ensure you buy from a company offering affordable renters insurance and consistent customer service.

To simplify your task, we have compared the carriers for New York residents based on their average rates and ratings from J.D. Power. Among the carriers surveyed, State Farm is the best renters insurance company in New York. It earned 844 out of 1000 from J.D. Power and has an average renters insurance rate of $128.

The table below offers a detailed comparison of renters insurance companies in New York.

CompanyJ.D. Power ScoreAverage Annual PremiumAM Best Ratings
State Farm844$128A++
Travelers835$161A++
USAA894$219A++
Nationwide852$217A+
Allstate835$172A+
American Family856$235A
Farmers842$302A

How much is renters insurance in New York

New York residents pay an average of $272 a year for renters insurance, and the average monthly cost is $23. That’s for a policy with personal property coverage of $40,000, liability coverage of $100,000, and a deductible of $1,000.

What you pay for renters insurance will not be the same as a neighbor’s price because it depends on factors specific to each person: the property you want to insure, extra coverage options you add, and the deductible amount you choose.

“The number one thing that’s most important is to get good liability. A renter’s policy will default to $100,000 liability,” Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. “It costs next to nothing to go from $100,000 to $500,000. I want to say it’s probably 10 bucks a year. It’s really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that’s, at its core, what insurance is all about: the worst-case scenario.”

Average Annual PremiumAverage Monthly Premium
$272$23

Most expensive ZIP codes in New York for renters insurance

Several factors affect your renters insurance coverage cost in New York, including your location and the coverage you buy. The most expensive ZIP code in New York for renters insurance is 11230, where the average annual rate is $434 which is $162 more than the state average insurance premium.

The following table lists the most expensive ZIP codes in New York for renters insurance.

ZIP codeAverage Annual Rate
11230$434
11236$433
11226$432
11220$430
11239$429
11256$428
11222$427
11243$423
11231$414
11205$413

Least expensive ZIP codes in New York for renters insurance

Renters insurance rates in New York are cheaper in some areas. Based on a rate analysis by Insurance.com, the least expensive ZIP code for renters insurance in New York is 14466, and its average annual rate is $235.

Below, you’ll find the least expensive ZIP codes for renters insurance, along with their average annual rates.

ZIP codeAverage Annual Rate
14466$235
13357$236
13431$237
13132$238
13115$239
13334$240
13155$241
12302$242
14030$243
13606$244

Compare renters insurance rates by city in New York

Renters insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on renters insurance for your specific city in New York.

CityAnnual insurance premium
Albany
$250
Buffalo
$250
Mount Vernon
$312
New Rochelle
$284
New York
$358
Rochester
$242
Schenectady
$247
Syracuse
$260
Utica
$247
Yonkers
$307

Cheap renters insurance in New York by company

There are a lot of companies offering renters insurance in New York. Among the carriers surveyed by Insurance.com, State Farm is the cheapest renters insurance company in New York; its average annual premium is $128.

Renters insurance prices can vary drastically between companies. That’s why it is important to compare rates and see which company offers the best deal to get coverage at an affordable price.

Below are the best cheap renters insurance companies in New York and their average annual premiums.

Company NameAverage Annual Premium
AIG$1,134
State Farm$128
Travelers$161
Allstate$172
NYCM Insurance$173
Nationwide$217
USAA$219
American Family$235
Chubb Ltd$277
Heritage Insurance Holdings$289
Farmers$302

Insurance.com compared renters insurance rates in 2022 provided by Quadrant Data Solutions for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. Content was updated in 2023.

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