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New York Homeowners Insurance Quotes

New York State spans the entire spectrum of natural and city wonders. Whether you are looking for peaceful country surroundings or the bustle of the big city, New York has you covered.

Outdoor activities abound. Get out on a lake in The Adirondacks, enjoy the beaches of the Thousands Islands Seaway area, explore the Finger lakes or get drenched soaking up the scenery at Niagara Falls. When it comes to outdoor activities, New York is second to none.

New York is just as rich when it comes to city life and cultural pursuits. New York City is brimming with museums, Broadway shows, art galleries and world-class restaurants. While New York City is the crown jewel of New York urban life, it's not the only city worth visiting. Albany, Buffalo, Rochester, Syracuse and many others are great places to visit and call home.

If you are thinking about moving to New York State, you have made a great decision. Here are just a few things you need to know about the Empire State.

New York Homeowner Facts

New York is not huge, but it packs a lot of punch. It is the 27th largest state in the union but ranks an impressive number four when it comes to population with 19.8 million people calling it home. New York State is the seventh-most densely populated state in the U.S.

New York State has an average of 4,579 households per zip code and an average of 3 people per household. In 2014, New York State had a median household income of $55,246 ranking 16th in the country.

According to Zillow data, the median home value in New York is a very affordable $262,100 which is a -0.3% decline over the past year. Zillow predicts prices will rise 1.1% over the next year.

While New York sounds very affordable, median prices vary dramatically depending on where you end up living. In New York City, the median home value is a whopping $610,000 while in Rochester it is an extremely affordable $64,100. The capitol city of Albany is a little more expensive with prices averaging $157,300, but that is still cheaper than the $390,100 that a house in Yonkers will cost.

Homeowners Insurance in New York

Homeowners insurance in New York State runs a bit above average with a median yearly premium of $1,130, which is 12 percent above the national average.

The cost of homeowners insurance will vary greatly across the state. Homeowners coverage in New York City will be much more expensive than coverage in upstate New York.

When shopping for homeowners insurance, it pays to be aware of the different types of policies, especially in New York City where there are numerous types of housing options. Here are a few of the more common policies available:

  • HO-3: This is the most common policy out there and the one that most homeowners carry. It protects you against all perils except any that are specifically excluded. On most HO-3 policies, flood and earthquake damage are excluded.
  • H0-6: This is a condo/co-op policy, which is a big seller in New York City because many housing options are condos or co-ops. It covers your belongings and the structural parts of the building that you own. It protects against all 16 listed disasters.
  • HO-4: This is a renter's insurance policy, which like the H0-6 policy are pretty common in NYC. These policies cover your contents and also include liability coverage. The dwelling (your apartment) is not covered.

There are other policy types but these tend to be the most common. An H0-2 is a more basic policy, offering reduced coverage levels while an H0-5 is a more high-end policy offering increased protection.

Factors to Consider in New York

The state of New York is a pretty safe place to live. Violent crime rates are 3.82 per 1,000 residents while the national average is 3.8. Property crimes are actually well below the nationwide averages with 17.18 property crimes per 1,000 residents while the national average is 26.

Crime rates can vary dramatically across the state with urban areas like NYC having much higher crime rates than the more rural upstate New York. Crime rates can also vary dramatically by neighborhood so when shopping for a house be sure to check crime rates in each specific neighborhood you are considering.

Unfortunately, New York has been the victim of major natural disasters and that can push insurance rates up for everyone. Blizzards, hurricanes and severe thunderstorms have all done damage in New York and the surrounding areas. All of these can affect homeowners insurance rates.

If you own a home in flood prone area, carrying an additional flood policy is a necessity. Homeowner policies never cover flood damage so if your home is flooded and you do not have a separate flood policy, all of the repair bills will fall to you. Flood policies range in price from very affordable to extremely expensive for oceanfront homes, but in all cases, the premium will be less than the cost to rebuild your home if a flood destroys it.

Regardless of whether you are moving into a fifth floor walk up in downtown Manhattan or looking for a house in the suburbs of Rochester, you will need a new homeowners policy. We can help you find the perfect policy, whether it is a H0-3, H0-6 or any other type. Please visit our online quoting appliction today by entering your New York zip code and let us help you shop and compare up to 12 different rates and coverage options. We look forward to working with you!

Local New York Home Insurance Rates

East Rockaway, NY Homeowners Insurance - Average Rates - $957/yr.

Recently quoted homes in East Rockaway NY

Check out our recent homeowners in East Rockaway, NY, competitive rate of $957 per year. Average rates range from $707 to $1257. See details on average rates within the city of East Rockaway. - Get East Rockaway Home Insurance Quotes! or Give us a call now at 1-855-976-2656

Brooklyn, NY Homeowners Insurance - Average Rates - $879/yr.

Recently quoted homes in Brooklyn NY

Check out our recent homeowners in Brooklyn, NY, competitive rate of $879 per year. Average rates range from $629 to $1179. See details on average rates within the city of Brooklyn. - Get Brooklyn Home Insurance Quotes! or Give us a call now at 1-855-976-2656

Average Homeowners Insurance Premiums in NY

With over 95% of all Americans are known to have homeowners insurance coverage, it's important to know what NY homeowners are paying on average. Did you know that the average homeowners insurance premium in NY is $1356? NY is now ranked 16 in the country. The country wide average for homeowners in the United States is $1,311. This means the average home insurance premium in NY is 3.43% more than the national average.

YearAverage Annual PremiumAverage Monthly PremiumState Rank (Overall)
2020$1356 (-0.1%)$ 11316
2019$1357 (2.7%)$ 11316
2018$1321 (0.91%)$ 11016
2017$1309 (0%)$ 10915
2016$1309 (1.69%)$ 10915

When we combine the state averages over the last decade, the NY overall average is estimated to be around $1,281.80. Our homeowners insurance quoting and rating process helps you compare homeowners insurance quotes, coverages and premiums. NY current state rank compare to the rest of the country is #16. Consider shopping your NY home insurance with us so we can help you save up to 40% or more on your policy.

NY Homeowners Insurance News & Information

  • Florida Homeowners Advance From Citizens into Private Companies Posted on Tuesday 5th December, 2023

    Homeowners Choice Property and Casualty Insurance Co. has assumed approximately 53,750 policies from Citizens Property Insurance Corp., Florida’s state-backed insurance company, the parent company says in a Tuesday news release. Homeowners Choice is owned by HCI Group Inc., a holding company with operations in homeowners insurance, information technology services, real estate and reinsurance. Homeowners Choice […]

  • North Carolina Joint Underwriters and Wind Pool Map Explained Posted on Thursday 30th November, 2023

    North Carolina is a lovely state to call home. Our state is packed with beautiful cities, museums, restaurants and of course, some of the loveliest beaches in the country. Unfortunately, if you live in one of our amazing coastal southern cities such as Ocean Isle Beach, Holden Beach, Oak Island Beach, Calabash, Bald Head Island, […]

  • Did you know? Your Home Insurance Doesn’t Cover… Posted on Wednesday 29th November, 2023

    While homeowners insurance covers a variety of perils and protects your home and personal possessions, it does come with a number of exclusions and coverage gaps that can result in you having to cover the cost of certain damage out of pocket.  Let’s have a quick look at what your homeowners policy does and doesn’t […]

  • 2024 Homeowners Insurance Outlook Receives Negative Rating Posted on Tuesday 21st November, 2023

    The insurance news for 2024 is certainly not great. Experts expect that extreme weather and increasing costs will push up insurance costs and make insurance companies more selective when deciding where they will write policies.  Recently, credit rating agency AM Best downgraded the entire home insurance industry from stable to negative. According to Richard Attanasio, […]

  • What Is the 80/20 Rule In Homeowners Insurance? Posted on Wednesday 8th November, 2023

    If you are purchasing a home, your lender will require that you carry homeowners insurance to protect their investment in your home. Homeowners coverage will help cover the cost of repairing or replacing your home if it is damaged or destroyed by a covered peril.  Covered perils can include items such as a hurricane or […]

NY Housing & Real Estate Data

Total Housing Units8108103
Occupied Housing Units7317755
Vacant Housing Units790348
Vacant Housing Units for Rent200039
Vacant Housing Units Rented Not Occupied12786
Vacant Housing Units For Sale77225
Vacant Housing Units Sold Not Occupied21027
Vacant Housing Units For Seasonal Occasional Use289301
Vacant Housing Units All Other Vacants189970
Housing Units Homeowner Vacancy Rate Percent1.9
Housing Units Rental Vacancy Rate Percent5.5
Housing Tenure Occupied Units7317755
Housing Tenure Occupied Units Owner Occupied3897837
Housing Tenure Occupied Units Owner Occupied Population10557835
Housing Tenure Occupied Units Owner Occupied Averge Household Size2.71
Housing Tenure Occupied Units Renter Occupied3419918
Housing Tenure Occupied Units Renter Occupied Population8234589
Housing Tenure Occupied Units Renter Occupied Average Household Size2.41

Understanding NY Homeowners Insurance

When shopping for NY homeowners insurance quotes you should be aware of the various types of insurance policies that are available in your area:

  • HO-3: This is the most common type of homeowers policy. This policy type protects your home against all perils, except ones that are specifically excluded. In most cases earthquake and flood damage are excluded.
  • H0-6: This policy type is specifically written for condos or co-ops. If you own a condo or live in a co-op building this type of policy is a necessity. A HO-6 policy covers both your personal belongings and the structural parts of the building that you own. There are 16 disasters listed on a typical policy that HO-6 protects against.
  • HO-4: If you are looking for NY renters insurance, a HO-4 policy is a great option. Renters insurance will cover your contents as well as offer liability coverage in the event a person is injured in your apartment.

While other types of policies exist, these are the most common ones. A HO-2 is a more basic policy that offers reduced coverage levels and a HO-5 is a high-end policy that offers increased protection.

If you are shopping for a new home in NY, homeowners insurance is a must do. We can help you find the perfect policy for your new home, regardless of whether you need a standard HO-3 policy, HO-6 or renters insurance, our site makes shopping for homeowners insurance quotes easy. Visit our online quoting application today and let us help you shop and compare up to 12 different NY rates and coverage options.