Best renters insurance companies in New York

Chubb Ltd, NYCM Insurance and Travelers are our 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 third-party ratings. Among the carriers surveyed, Chubb Ltd is the best renters insurance company in New York. It earned a score of 5 and has an average renters insurance rate of $279.

In addition to rates, we also got scores and rating from sources like the National Association of Insurance Commissioners (NAIC) and AM Best for 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.

CompanyAverage annual premiumAM BestNAICInsurance.com rating
Chubb Ltd$279A++0.185.00
NYCM Insurance$174A0.214.75
Travelers$159A++0.544.44
American Family$250A0.374.43
Farmers$302A0.544.11
State Farm$125A++0.953.88
Allstate$172A+0.903.82
Nationwide$222A+0.873.80
AIG$1,195A0.093.73
Data updated in 2024
Read our full methodology

Cheapest renters insurance in New York

State Farm is the cheapest renters insurance company in New York based on our rate analysis with an average annual premium of $125.

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 cheapest renters insurance companies in New York and their average annual premiums.

Company nameAverage annual premium
State Farm$125
Travelers$159
Allstate$172
NYCM Insurance$174
Nationwide$222
American Family$250
Chubb Ltd$279
Farmers$302
AIG$1,195
USAA$219
Data updated in 2024
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How much is renters insurance in New York

The average cost of renters insurance in New York is $276 a year, 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 may differ from your neighbors 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
$276$23
Data updated in 2024
Read our full methodology

New York renters insurance: The most expensive ZIP codes

Where you live in New York affects how much you pay for renters insurance. The most expensive ZIP code in New York for renters insurance is 11230, where the average annual rate is $452 which is $176 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$452
11236$451
11220$449
11225$447
11256$446
11237$440
11231$430
11205$429
11968$413
11976$410
Data updated in 2024
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New York renters insurance: The least expensive ZIP codes

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 $229.

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

ZIP codeAverage annual rate
14466$229
14520$230
13207$257
13210$257
12453$258
10915$263
10919$263
10910$267
10541$273
10560$275
Data updated in 2024
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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
Data updated in 2024
Read our full methodology

Insurance.com compared renters insurance rates 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. To rank the best insurance companies, we gathered AM Best financial stability ratings, where an A++ is the best possible score, and National Association of Insurance Commissioners (NAIC) which provides the best practices for the U.S. insurance industry. These factors were used along with rates to find the best companies overall.

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