Average Renters Insurance Cost in New York

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Renters insurance costs in New York vary depending on various factors, including the coverage amount, insurance company and individual circumstances. The average cost of renters insurance in New York is $328 per year or $27 per month for a coverage limit of $40,000 for personal property coverage, $300,000 in liability coverage and a $1000 deductible. These are average rates, and actual premiums may differ.

Key Takeaways

The average cost of renters insurance in New York is $328 per year or $27 per month.
State Farm provides the least expensive renters insurance in New York at an average rate of $125 annually.
Renters insurance rates can vary significantly among insurance companies. Compare quotes to find the best deal on renters insurance in New York.

Average renters insurance cost in New York per month

In New York, the average monthly cost of renters insurance is $27. However, premiums can differ depending on factors such as your rental’s location, the value of your personal belongings and the level of coverage you select. Experts recommend comparing quotes from different insurance companies to find the best deal.

Average renters ins cost per month	Difference compared to national average
$27	$3 more

Average renters insurance cost in New York by company

State Farm offers the most affordable renters insurance in New York at an average annual rate of $125, followed by Allstate and NYCM Insurance, based on our data.

However, you should get multiple quotes from various renters insurance companies in New York because the prices vary greatly among carriers.

Below, we have compared the average annual and monthly renters insurance rates of insurance companies across New York.

Company	Average annual rate	Average monthly rate
State Farm	$125	$10
Allstate	$190	$16
NYCM Insurance	$203	$17
Nationwide	$221	$18
Travelers	$228	$19
American Family	$267	$22
Chubb	$315	$26
Farmers	$324	$27
Heritage Insurance Holdings	$344	$29
AIG	$1,460	$122
USAA*	$298	$25

*USAA is only available to military community members and their families.

Renters insurance calculator in New York

$311/year

Estimated renters insurance rates in New York

$26

Monthly renters insurance cost in New York

15%

Compared to national average

Average cost of renters insurance in New York by coverage level

The average annual cost of renters insurance in New York is $328, with a personal property coverage limit of $40,000, $300,000 in liability coverage and a $1,000 deductible.

However, if you lower your personal property coverage from $40,000 to $20,000, you can expect to pay $247 a year for renters insurance in New York. Make sure $20,000 is enough to cover your belongings before deciding to adjust your coverage.

The table below shows the average annual renters insurance costs in New York for personal property coverage of $20,000 and $40,000.

Coverage level	Average annual renters insurance rate	Average monthly renters insurance rate
$20,000 with $500 Deductible and $100,000 Liability	$244	$20
$20,000 with $500 Deductible and $300,000 Liability	$261	$22
$20,000 with $1,000 Deductible and $100,000 Liability	$230	$19
$20,000 with $1,000 Deductible and $300,000 Liability	$247	$21
$40,000 with $500 Deductible and $100,000 Liability	$331	$28
$40,000 with $500 Deductible and $300,000 Liability	$349	$29
$40,000 with $1,000 Deductible and $100,000 Liability	$311	$26
$40,000 with $1,000 Deductible and $300,000 Liability	$328	$27
$60,000 with $500 Deductible and $100,000 Liability	$424	$35
$60,000 with $500 Deductible and $300,000 Liability	$443	$37
$60,000 with $1,000 Deductible and $100,000 Liability	$396	$33
$60,000 with $1,000 Deductible and $300,000 Liability	$415	$35

Average cost of renters insurance in New York by city

Renters insurance rates can vary widely between cities. To make finding the right policy easier, we’ve broken down the costs by city. Discover how much renters insurance typically costs in different areas of New York.

Renters insurance rates in New York by city

See rates in your city

New York

Average cost of renters insurance in New York by ZIP code

The cost of renters insurance in New York varies by ZIP code. It’s important to note that the affordability of renters insurance can differ significantly depending on your location.

To provide a more comprehensive overview, let’s see some of the most and least affordable ZIP codes for renters insurance in New York.

Most affordable ZIP codes for renters insurance in New York

In New York, your ZIP code plays a major role in determining your premiums. Based on our data, 14466 is the most affordable ZIP code for renters insurance, with an average annual cost of $284.

Comparing quotes from multiple insurers in New York is a smart way to find the best renters insurance rates for your ZIP code.

ZIP code	City	Average annual rate	Average monthly rate
14466	Hemlock	$284	$24
14453	Fishers	$285	$24
14485	Lima	$285	$24
14487	Livonia	$285	$24
14488	Livonia Center	$285	$24
14520	Ontario Center	$285	$24
14558	South Lima	$285	$24
14411	Albion	$286	$24
14414	Avon	$286	$24
14469	Bloomfield	$286	$24

Least affordable ZIP codes for renters insurance in New York

Among the ZIP codes analyzed by Insure.com, the least affordable ZIP code for renters insurance in New York is 11230, with an average cost of $515 a year or $43 monthly.

We analyzed quotes from multiple insurance providers across every ZIP code in New York. Below, you’l find the average annual renters insurance premiums broken down by ZIP code.

ZIP code	City	Average annual rate	Average monthly rate
11230	New York	$515	$43
11252	Brooklyn	$511	$43
11968	North Sea	$461	$38
11932	Bridgehampton	$458	$38
11752	Islip Terrace	$458	$38
11976	Water Mill	$458	$38
11751	Islip	$457	$38
11954	Montauk	$457	$38
11770	Ocean Beach	$457	$38
11706	Bay Shore	$455	$38

Final thoughts: Average renters insurance in New York

Renters insurance is essential for residents of New York. It safeguards possessions against damage from fire, theft, vandalism, and natural disasters, ensuring protection in unforeseen circumstances.

To get the best renters insurance at an affordable price, shop around and compare quotes from various insurance carriers. In addition to insurance premiums, consider factors such as coverage options, deductibles, and customer reviews to make an informed decision.

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.