How much is homeowners insurance in New York,NY

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The average cost of homeowners insurance in New York is $2,579 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $75 more than the national average of $2,504.

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in New York depend on a number of factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide to know how much homeowners insurance cost per month in New York, home insurance cost for different dwelling coverage, also know which companies offer cheap home insurance in New York.

In this guide, we will explain everything from what coverage options are available to which companies have the cheapest rates for homeowners insurance in New York.

Key takeaways

In New York, homeowners insurance costs $2,579 annually.
State Farm offers the most affordable homeowners insurance in New York with an average annual premium of $1,167.
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $712 higher.

How much is homeowners insurance in New York per month

According to Insure.com’s rate analysis, residents of New York pay an average of $215 per month for homeowners insurance. This is $67 more than the state average of $148 and $6 more than the national average for home insurance across the United States. The cost of your homeowners insurance policy in New York can vary depending on your location, property value, and selected coverage options.

How much is homeowners insurance for a $200,000 house in New York

The average cost of homeowners insurance in New York, NY is $1,867 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.

Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.

How much is homeowners insurance for a $300,000 house in New York

According to Insure.com’s rate analysis, homeowners in New York typically pay an average of $2,579 annually for a home insurance policy with $300,000 in dwelling coverage, $100,000 in liability protection, and a $1,000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, your home insurance rates will rise by $712. It is advisable to purchase enough insurance to cover the entire cost of rebuilding your home. The required amount of dwelling coverage can vary based on factors such as the size of your home, its features, and the cost of living in your area.

How much is homeowners insurance in New York by company

After evaluating several carriers, State Farm is the least expensive homeowners insurance provider in New York. It’s average annual rate for homeowners in New York is $1,167.

NYCM Insurance holds the second position, while American Family secures the third spot with an average annual home insurance rate of $1,740.

Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in New York and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in New York and their average annual premiums.

Home insurance company	Annual rate
State Farm	$1,167
NYCM Insurance	$1,729
American Family	$1,740
Heritage Insurance Holdings	$1,978
AIG	$2,151
Nationwide	$2,173
Allstate	$2,340
Travelers	$2,455
Chubb Ltd	$2,676
Farmers	$5,040

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in New York for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.