New York homeowners insurance calculator -Insure.com

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At $1,816, the average cost of homeowners insurance in New York is $785 a year below the national average of $2,601. That’s based on $300,000 in dwelling and liability coverage with a $1,000 deductible and a 2% hurricane deductible. However, some homeowners pay much higher rates, particularly in areas prone to severe weather, such as heavy snowfall, hurricanes and flooding.

Other factors affecting New York home insurance rates include the age of the home, building materials (such as wood or brick, which can affect the home’s susceptibility to damage), labor costs (which can vary depending on the area), and even your credit score.

Use the New York homeowners insurance calculator to see average rates for the coverage you need and read on to learn more about New York home insurance rates.

New-York home insurance calculator

See how the average annual home insurance rates vary with the options chosen.

State

Average Annual Home Insurance Rates In New York

$1,648 Average rate

$6,391 Highest
rate

$624 Lowest
rate

Home insurance companies in New York

Company	Average annual rate
American Family	$901
NYCM Insurance	$1,080
State Farm	$1,236
Nationwide	$1,483
AIG	$1,564
Travelers	$1,606
Heritage Insurance Holdings	$1,626
Allstate	$1,856
Chubb Ltd	$1,884
Farmers	$3,239

Key Takeaways

New York homeowners insurance rates average $1,816 annually for $300,000 in dwelling and liability coverage with deductibles of 2% for hurricanes and $1,000 for all other perils.
Homeowners on the New York coast should review their coverage carefully to ensure hurricane damage is covered and understand their hurricane deductible.
Homeowners in New York City pay higher insurance rates on average than those in other New York cities.

How to use the New York home insurance calculator

Average homeowners insurance rates vary based on location, home, and coverage limits. Use the home insurance calculator below to see the average costs in New York for your needs. Here’s how:

Choose how much dwelling coverage you need. Make sure it’s high enough to cover rebuilding your home if necessary.
Choose your liability coverage, which covers expenses if you are responsible for injuries to someone else or damage to the property of others.
Choose your deductible. The deductible is the amount you pay when you file a home insurance claim.

How does dwelling coverage affect homeowners insurance in New York?

New York home insurance policies include multiple types of coverage, but dwelling coverage is the most important and has the biggest impact on rates. This is the coverage that pays for damage to the structure of your from a covered peril. The amount of dwelling coverage on your policy should match the replacement cost value of your home.

“Things that matter: Insuring your dwelling for its replacement cost value (what a local builder would charge to rebuild it) or paying for “Extended Replacement Cost” coverage as a cushion, having enough “Additional Living Expense” (temporary rent benefits) to last at least two years if needed, and adding Building Code Upgrade (also called “Law and Ordinance”) and sewer and drain backup coverage to a basic policy,” says Amy Bach, executive director of United Policyholders, a nonprofit consumer organization.

Liability coverage is also included with home insurance. This type of coverage pays for injuries to others or damage to their property for which you are responsible. Standard coverage is $100,000, but experts recommend more.

While insurance rates increase with the amount of coverage you choose, carrying too little coverage could mean significant out-of-pocket expenses to pay for things your insurance may not cover.

This table shows average New York homeowners insurance rates based on various coverage amounts.

Dwelling coverage	Average annual rate	Average monthly rate
$200,000	$1,340	$112
$300,000	$1,816	$151
$400,000	$2,349	$196
$600,000	$3,489	$291
$1,000,000	$5,716	$476

What is a hurricane deductible, and how does it impact home insurance rates in New York?

Hurricane coverage pays for damages to your home from wind, flooding, and other related weather from a hurricane. While many New York policies cover damage from those events, homeowners along the coast may have to add this coverage, which can significantly increase their premiums.

Hurricane coverage also comes with a deductible. Homeowners insurance policies have a standard deductible for all other perils, such as $1,000, while the hurricane deductible is typically 2%—5% of your dwelling coverage. This deductible only applies to hurricane damage.

The rates below are for a policy with $300,000 in dwelling and liability coverage and a $1,000 all perils deductible with and without a 2% hurricane deductible. Note that the absence of a hurricane deductible may indicate there is no coverage for hurricanes; read your policy carefully.

Average rates with hurricane deductible	Average rates without hurricane deductible
$1,816	$1,855

Average homeowners insurance cost in New York

The average homeowners insurance cost in New York is $1,816 a year, based on $300,000 in dwelling and liability coverage with a $1,000 deductible and a 2% hurricane deductible. This is well below the national average of $2,601.

While New York’s average rates are low, many factors impact them, such as weather, crime rates and credit history. For example, areas with wind and flood damage from hurricanes and tropical storms tend to see higher rates than inland areas.

The table below compares New York’s average home insurance rates with the national average.

Dwelling coverage	Liability	Average annual rate	Difference compared to the national average
$300,000	$300,000	$1,816	$785

Average cost of home insurance in major New York cities

Where you live in the state also affects home insurance rates. For example, Rochester has the cheapest average rates in New York, while New York City has the most expensive.

City	Average annual rate	Average monthly rate
Albany	$1,628	$136
Buffalo	$1,531	$128
Mount Vernon	$2,018	$168
New Rochelle	$1,947	$162
New York	$2,625	$219
Rochester	$1,464	$122
Schenectady	$1,549	$129
Syracuse	$1,523	$127
Utica	$1,644	$137
Yonkers	$1,926	$161

What our expert says

Amy BachExecutive Director of United Policyholders

“Things that matter: Insuring your dwelling for its replacement cost value (what a local builder would charge to rebuild it) or paying for "Extended Replacement Cost" coverage as a cushion, having enough "Additional Living Expense" (temporary rent benefits) to last at least two years if needed, and adding Building Code Upgrade (also called "Law and Ordinance") and sewer and drain backup coverage to a basic policy.”

Methodology

Insure.com commissioned home insurance rates from Quadrant Date Services in late 2023 for a homeowners insurance policy with dwelling coverage levels ranging from $200,000 – $1 million and liability coverage of $100,000 and $300,000. Sample rates were requested using a $1,000 deductible and a 2% hurricane deductible where applicable.