Compare the Best Homeowners Insurance in New York
Finding the right home insurance in New York is crucial to protecting your property from unexpected damages, natural disasters, and liability claims. To help you choose the best policy, we’ve analyzed top insurance providers based on factors like customer satisfaction, affordability, coverage options, and financial strength. Our rankings are based on data from industry sources, including J.D. Power’s 2023 U.S. Home Insurance Study and Quadrant Information Services.
Best Companies of Homeowners Insurance in New York
| Insurance Company | J.D. Power Score | Avg. Monthly Premium | Avg. Annual Premium |
|---|---|---|---|
| Nationwide | 641/1,000 | $124 | $1,494 |
| Allstate | 631/1,000 | $151 | $1,811 |
| State Farm | 643/1,000 | $90 | $1,076 |
| NYCM | Not Rated | $55 | $663 |
(*Premiums based on $300,000 dwelling coverage. Rates last updated February 2025.)
Top 4 Home Insurance Companies in New York
1. Best for High-Value Homes: Nationwide
- Score: 4.2/5
- Average Annual Premium: $1,494
- Customer Satisfaction: 641/1,000
- Why Choose Nationwide?
- Offers robust policy options, including Valuables Plus for high-net-worth homeowners.
- Discounts available for home renovations and gated communities.
- Highly rated for claims satisfaction but has below-average digital experience.
2. Best for Bundling: Allstate
- Score: 4.2/5
- Average Annual Premium: $1,811
- Customer Satisfaction: 631/1,000
- Why Choose Allstate?
- Bundling discount up to 25% for home and auto insurance.
- A+ rating for financial strength from AM Best.
- Numerous local offices and online tools for policy management.
- Scored below average for customer satisfaction.
3. Best for Local Agents: State Farm
- Score: 4.1/5
- Average Annual Premium: $1,076
- Customer Satisfaction: 643/1,000
- Why Choose State Farm?
- Strong local agent presence across New York.
- A++ (Superior) AM Best financial strength rating.
- Top-tier mobile app and online tools for easy policy management.
- Fewer discounts compared to competitors.
4. Best for Low Average Rates: NYCM
- Score: 3.9/5
- Average Annual Premium: $663
- Customer Satisfaction: Not Rated
- Why Choose NYCM?
- Mutual insurance company, meaning policyholders own the company.
- Offers substantial discounts, especially for seniors and remote workers.
- Requires working with a local independent agent to obtain a quote.
Cheapest Homeowners Insurance in New York
| Carrier | Monthly Premium for $300K Coverage | Annual Premium | Savings vs. State Avg. |
| NYCM | $55 | $663 | -$1,089 |
| Sterling Insurance | $87 | $1,049 | -$703 |
| State Farm | $90 | $1,076 | -$676 |
| Dryden Mutual | $94 | $1,126 | -$626 |
| Preferred Mutual | $114 | $1,365 | -$387 |
How to Get Cheap Homeowners Insurance in New York
- Compare multiple quotes: Request quotes from different insurers to find the best rate.
- Bundle policies: Many insurers offer discounts for bundling home and auto insurance.
- Increase your deductible: A higher deductible can lower your monthly premium.
- Improve home security: Installing burglar alarms, deadbolts, and smart security systems can lead to discounts.
- Maintain a good credit score: In New York, insurers factor credit history into premium calculations.
- Stay claims-free: A clean claims history often qualifies you for lower rates.
Additional Home Insurance Coverage Options in New York
1. Flood Insurance: Standard policies do not cover flood damage. Homeowners in flood-prone areas should consider a policy from FEMA’s National Flood Insurance Program (NFIP) or a private insurer.
2. Identity Theft Coverage: Some insurers offer this as an add-on to help cover the costs of restoring your identity after fraud.
3. Personal Property Replacement Cost: Covers your belongings at replacement cost value (RCV) instead of actual cash value (ACV), preventing depreciation losses.
Average Cost of Homeowners Insurance in New York (By Home Value)
| Insurance Company | $150K Coverage | $300K Coverage | $350K Coverage | $450K Coverage |
| Allstate | $1,239 | $1,811 | $2,018 | $2,466 |
| State Farm | $612 | $1,076 | $1,271 | $1,674 |
| Nationwide | $855 | $1,494 | $1,708 | $2,142 |
| NYCM | $425 | $663 | $746 | $906 |
Conclusion: Finding the Best Homeowners Insurance in New York
Whether you’re looking for affordable home insurance in New York or comprehensive coverage for a high-value home, there’s an option tailored to your needs. State Farm, Nationwide, Allstate, and NYCM all provide competitive rates and various perks. To find the best fit, compare multiple quotes, explore discounts, and ensure you’re adequately covered for risks specific to your location.
For customized quotes, click the links above to start comparing rates today!
Frequently Asked Questions
What is the cheapest homeowners insurance in New York?
NYCM offers the lowest average rates at $663 per year for $300K in dwelling coverage.
How do I get homeowners insurance in New York?
You can get a quote online or through a local insurance agent.
Do I need additional coverage beyond standard homeowners insurance?
It depends on your location. If you live in a flood-prone area, flood insurance is recommended. Additionally, identity theft protection and personal property replacement coverage can provide extra financial security.
Want to know more about other insurances, Read our latest articles.
