best home insurance company in new york

Best New York Home Insurance Company - Home Insurance

Owning a home is a huge financial and emotional responsibility, and comes with additional responsibilities not required of the renter. Therefore, it is important to protect your property, home and belongings with home contents insurance.

New York home insurance protects you when the worst happens. Provides coverage for home damage caused by fire, wind and other natural disasters. Protection of personal property such as clothing, furniture and electronics. Liability insurance for damage caused by you or a family member, and coverage for other structures such as garages and sheds. Home insurance protects your most valuable asset, so it’s important to do your research to find the best home insurance.

New York has the lowest real estate rates in the nation as of 2020. Only 53% of New Yorkers own a home. For example, if you live in the New York City area, you should know how difficult it is to find the best home insurance company. But New Yorkers average $969 a year in premiums, well below the national average of $1,477 for him.

As you search for the best home insurance company in New York, keep in mind the following considerations that can affect the cost of your premium.

  • the value of your home and property
  • Type of coverage needed
  • franchise value
  • Additional coverage desired or required

Optional insurance like flood insurance can have a higher initial cost, but can be invaluable if you live in a flood or hurricane area. Stay up to date on what your home insurance covers so you don’t feel vulnerable in the event of a disaster.

top home insurance company in new york

Buying New York home insurance from a variety of providers is important because the cheapest and most popular insurance option may not always be the best fit for your situation. To evaluate the best home insurance options in New York, we look at pricing, policy options available, billing processes, customer service interactions, billing and payment processes.

Here are some of the best homeowners insurance companies in New York. These companies have the highest customer satisfaction scores, according to insurance guru J.D. Power.

home insurance company Average Annual Household Premium $250,000 JD Energy Score
statewide $984 829
New York Central Mutual Insurance (NYCM) $544 N/A
district farm $771 829
united states of america $1,369 889

Quadrant Information Service, 2020


Allstate NY is on par with State Farm in JD Power’s Customer Satisfaction Rankings. Both insurers scored highly, which means they prioritize good customer relationships. Allstate also received an A+ rating from AM Best, demonstrating that it is financially sound and able to pay claims after a major local disaster.

Allstate is known for its low fees, in addition to various discounts that keep premiums even lower. For example, you can get a 10% discount just by switching to Allstate. The company offers standard coverage options such as household goods and liability, and can customize policies with umbrella policies, flood insurance, and more.

New York Central Mutual Insurance

As the name suggests, New York Central Mutual is a mutual insurance company and the policyholder owns the business. This has many benefits, one of which is excellent customer service.

New York Central Mutual is a small company, but offers a wide variety of insurance and discounts. This site has tips on how to protect your home from floods and water damage. Since this provider has an A rating from AM Best, the company will fully refund any indemnified losses. NYCM offers great discounts for telecommuting and senior discounts.

district farm

In the 2019 JD Power Home Insurance Survey, State Farm scored 4 out of 5 for overall satisfaction. The company has also received an A++ rating from AM Best. This means you are financially sound and able to pay multiple bills.

State Farm offers flexible coverage, amazing discounts, excellent customer service, and affordable compensation. Complaint handling is also highly rated. Additionally, they appreciate State Farm’s online tools and resources, making them a great vendor for first-time buyers. The mobile app is also highly rated, making it ideal for those who want to manage their policies on the go.

united states of america

USAA is widely regarded as the cream of the crop when it comes to home insurance. The company has received a High Overall Satisfaction Rating from JD Power and an A++ Financial Strength Rating from AM Best.

When it comes to coverage, billing, customer service, pricing and discounts, you can’t beat USAA. The company includes up to $5,000 in identity theft protection with all home insurance policies.

USAA is only available to members of the U.S. Armed Forces, their immediate family members, and veterans. As a result, not everyone can afford her USAA insurance.

Average cost of home insurance in New York

The median annual cost of homeowners insurance in New York in 2020 was $969. Compared to the national average of $1,477, New Yorkers pay an average of 34% less.

To learn more about how New York compares to its peers, see the table below.

to express Average home insurance premium of $250,000 Difference from national average %
New York $969 -3.4%
Louisiana $2,297 56%
florida $1,736 18%
Massachusetts $1,258 -15%
new jersey $810 -4 5%
California $1,101 -twenty five%

Quadrant Information Service, 2020

Louisiana and Florida rank high for the highest home insurance premiums. The obvious reason for these high costs is the threat of hurricanes and floods. Other areas prone to natural disasters and extreme weather conditions, such as New England and mountainous areas, also face higher premiums.

home insurance options in new york

The most common type of home insurance is the standard policy. Standard household insurance includes the following basic benefits:

  • house structure Home insurance covers damage to your home from fire, hail, lightning, hurricanes, or other insured natural disasters, but often does not cover damage from floods, earthquakes, or normal wear and tear.
  • personal belongings Protects personal items such as clothing, jewelry and furniture in the event of theft or loss due to a catastrophe by the insured.
  • Liability protection It protects you if you, your family members, or your pets injure others or damage other people’s property.
  • additional living expenses If your apartment is habitable and you need to find another place to stay temporarily, you will be responsible for the costs incurred.

Standard HO-3 policy covering the 16 hazards listed above:

  • Accidental release or overflow of water or steam from plumbing, heating, air conditioning, or sprinkler systems. It also covers other electrical discharges that turn off the device.
  • aircraft damage
  • car damage
  • blow up
  • autumn objects
  • fire, smoke, lightning
  • Freezing of plumbing, heaters, air conditioners, or automatic fire suppression systems or equipment.
  • riot or civil war
  • Sudden accidental damage due to man-made currents (does not include loss of vacuum tubes, transistors or similar electronic components)
  • Sudden or accidental rupture, tear, burning, or buckling of steam or hot water heating systems, air conditioning systems, or automatic fire suppression systems
  • steel
  • Vandalism
  • volcanic eruption
  • Weight of ice, snow and hail
  • wind and hail

Consider the area you live in when deciding which penthouse to own as a New York resident. Does your home face high winds, heavy snowfall, or coastal flooding? , look for coverage options that provide the protection you need. Do you live in a high crime area? Therefore, theft insurance may take precedence. Whatever your specific needs, your local agent can help you determine the best policy for your needs.

Common Causes of New York Home Insurance Losses

New York is a large state, so one resident’s neighborhood and lifestyle can be completely unfamiliar to another. However, there are a few factors that every New Yorker should be aware of as common causes of losing in-state home insurance.

  • vandalism: Vandalism is a form of man-made damage to things or property. If you live in a more populous area of 鈥嬧婲ew York where graffiti and vandalism are common, you may choose this coverage.
  • Natural disasters: As mentioned above, New York is prone to various natural disasters such as hurricanes, blizzards and even tornadoes. If your area is prone to one of these weather systems, you may need additional insurance.
  • take away invade and enter : Theft was the third most common crime in the US in 2018, but New York ranks near the bottom of the country when it comes to theft rates. However, if you live in an area with a higher-than-average burglary rate, you may benefit from extended coverage, especially if you have a lot of expensive luxury items.
  • fire: Fire insurance claims aren’t that frequent, but the damage done, whether from fire or smoke, can be irreparable. If your yard has a lot of vegetation or overgrowth, your home may be at a higher risk of being damaged in a fire. Make sure your New York home insurance covers you.

Frequently Asked Questions

What is the cheapest home insurance in New York?

Based on the methodology of this study, the cheapest home insurance in New York is New York Central Mutual, with an annual average of $544, well below the national average. The cheapest New York home insurance for you depends on individual factors such as: Where you live, insurance history, coverage options you need, discounts available, etc.

How do I get home insurance in New York?

Contact a home insurance agent online, by phone, or in person to begin the quote process. We will need information such as your name and address, the value of your home, the amount of coverage you need, and the type of coverage you need.

Should I add term insurance to my insurance?

Risk insurance is already included in most standard home insurance policies. However, if you live in an area with a high risk of damage from natural disasters, you should consider additional coverage.

What natural disasters are covered by home insurance?

If you have standard home insurance, your home can be protected against damage from hurricanes, tornadoes, and fires. However, flood and earthquake coverage are usually not included in standard insurance.


Business Insurance uses the Quadrant data service to analyze rates for all zip codes and carriers in all 50 states and Washington, DC. Rates quoted are based on male and female homeowners age 40+, no claim history, good credit history, and coverage limits below.

  • Cover A, Residence: $250,000
  • Cover B, other structures: $25,000
  • Cover C, private property: $125,000
  • Cover D, disabled: $50,000
  • Cover E, Liability: $300,000
  • F Compensation, medical expenses: $1,000

Owners also have a $1,000 deductible and separate deductibles for wind and hail (if required).

Pricing is determined based on 2020 Quadrant Information Services data.

These are sample rates and should only be used for comparison purposes. Offers may vary.

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