The Best Home Insurance in New York for 2024

State Farm and Erie are among the best home insurance companies in New York.
Kayda Norman
Sarah Schlichter
By Sarah Schlichter and  Kayda Norman 
Edited by Caitlin Constantine

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The average cost of homeowners insurance in New York is $1,715 per year. That’s compared to a national average rate of $1,915 per year.

NerdWallet has compared rates and policies from companies across the state to help you find the best homeowners insurance in New York in the following categories:

Note: Due to underwriting practices and market volatility, some companies in this article may no longer write new policies in your area.

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Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our writing and data analyses. You can trust the prices we show you because our data analysts take rigorous measures to eliminate inaccuracies in pricing data and may update rates for accuracy as new information becomes available.

We include rates from every locale in the country where coverage is offered and data is available. When comparing rates for different coverage amounts and backgrounds, we change only one variable at a time, so you can easily see how each factor affects pricing.

Our sample homeowner had good credit, $300,000 of dwelling coverage, $300,000 of liability coverage and a $1,000 deductible.

Best affordable homeowners insurance in New York: State Farm

insurance-product-card-logo

State Farm

4.5

NerdWallet rating 
Well-established insurer with a lengthy list of coverage options.

Coverage options

More than average

Discounts

Average set of discounts

NAIC complaints

Fewer than expected
insurance-product-card-logo

State Farm

4.5

NerdWallet rating 
Well-established insurer with a lengthy list of coverage options.

Coverage options

More than average

Discounts

Average set of discounts

NAIC complaints

Fewer than expected

In New York, the average annual premium for State Farm is $1,415, which is below the state average of $1,715.

State Farm is a great choice for homeowners who like to work directly with a representative, as the company sells policies through a wide network of agents. And its attention to customer service has paid off; the company has fewer customer complaints to state regulators than expected for a company of its size.


Best homeowners insurance in New York for coverage: The Andover Companies and Erie

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The Andover Companies

5.0

NerdWallet rating 
Superior coverage sold through independent agents in select states.

Coverage options

More than average

Discounts

Average set of discounts

NAIC complaints

Far fewer than expected
insurance-product-card-logo

The Andover Companies

5.0

NerdWallet rating 
Superior coverage sold through independent agents in select states.

Coverage options

More than average

Discounts

Average set of discounts

NAIC complaints

Far fewer than expected

The Andover Companies’ home insurance policies generally come with broader coverage for your belongings and more coverage for the structure of your home than a standard homeowners policy provides. (Note that most but not all homes qualify for this coverage.)

Most Andover policies also include a generous amount of ordinance or law coverage, which pays to upgrade your home to current building codes during repairs after a covered claim.

insurance-product-card-logo

Erie

4.5

NerdWallet rating 
Best for homeowners who want to work with an agent.

Coverage options

More than average

Discounts

Average set of discounts

NAIC complaints

Fewer than expected
insurance-product-card-logo

Erie

4.5

NerdWallet rating 
Best for homeowners who want to work with an agent.

Coverage options

More than average

Discounts

Average set of discounts

NAIC complaints

Fewer than expected

In most states that it serves, Pennsylvania-based Erie offers guaranteed replacement cost for the structure of your home. With this coverage, the company will pay to rebuild your home completely after a disaster, even if the amount exceeds your dwelling limit.

Got a car to insure, too? If you bundle your home and auto insurance with Erie, you could get a discount of upwards of 16%. You may also be able to save if your home has certain safety and security features such as smoke alarms or sprinkler systems.

For more details, read our Erie home insurance review.


Best homeowners insurance in New York for consumer experience: Nationwide

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Nationwide

4.5

NerdWallet rating 
For shoppers seeking a broad range of coverage options, Nationwide may fit the bill.

Coverage options

About average

Discounts

Great set of discounts

NAIC complaints

Close to expected
insurance-product-card-logo

Nationwide

4.5

NerdWallet rating 
For shoppers seeking a broad range of coverage options, Nationwide may fit the bill.

Coverage options

About average

Discounts

Great set of discounts

NAIC complaints

Close to expected

Nationwide offers a robust consumer experience for its customers, including a website that makes it easy to manage policies, file and track claims, and set up automatic billing. It also has a highly rated app for Android and iOS that allows customers to file and track claims, review policy documents, and set up autopay.

In addition, Nationwide’s customers have several ways to get assistance, such as reaching out to their agent or calling the company’s customer service hotline. Outside of business hours, they can use the Nationwide website to get proof of insurance, pay bills and schedule callbacks. A chatbot is also available to answer basic questions.


Full list of the best home insurance companies in New York

NerdWallet analyzed dozens of home insurance companies to find the best home insurance in New York. Here are all of the insurers that received a NerdWallet star rating of 4.5 or higher:

Company

NerdWallet star rating

Average annual rate

5.0

NerdWallet rating 

Not available

5.0

NerdWallet rating 

Not available

5.0

NerdWallet rating 

Not available

4.5

NerdWallet rating 

Not available

4.5

NerdWallet rating 

Not available

4.5

NerdWallet rating 

$5,045

4.5

NerdWallet rating 

$1,970

4.5

NerdWallet rating 

$1,415

4.5

NerdWallet rating 

$2,065

5.0

NerdWallet rating 

Not available

*USAA homeowners policies are available only to active military, veterans and their families.

How much does homeowners insurance cost in New York?

The average annual cost of home insurance in New York is $1,715. That’s 10% less than the national average of $1,915.

In most U.S. states, including New York, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score. 

In New York, those with poor credit pay an average of $2,455 per year. That’s 43% more for homeowners insurance than those with good credit, according to NerdWallet’s rate analysis.

Average cost of homeowners insurance in New York by city

How much you pay for home insurance in New York depends on where you live. For example, the average cost of homeowners insurance in New York City is $2,495 per year. In Buffalo, homeowners insurance costs about $1,100 per year, on average. 

Note: City names in the table below are based on the U.S. Postal Service’s preferred names for each ZIP code.

City

Average annual rate

Average monthly rate

Albany

$1,305

$109

Astoria

$1,695

$141

Binghamton

$1,050

$88

Bronx

$1,970

$164

Brooklyn

$2,065

$172

Buffalo

$1,100

$92

Corona

$1,785

$149

East Elmhurst

$1,775

$148

Elmhurst

$1,715

$143

Far Rockaway

$2,085

$174

Flushing

$1,795

$150

Jamaica

$1,925

$160

Mount Vernon

$1,455

$121

New Rochelle

$1,470

$123

New York

$2,495

$208

Poughkeepsie

$1,055

$88

Ridgewood

$1,715

$143

Rochester

$1,050

$88

Schenectady

$1,175

$98

Staten Island

$1,630

$136

Syracuse

$1,105

$92

Utica

$1,305

$109

White Plains

$1,385

$115

Woodside

$1,675

$140

Yonkers

$1,460

$122

The cheapest home insurance in New York

Here are the insurers we found with average annual rates below the New York average of $1,715.

Company

NerdWallet star rating

Average annual rate

Ontario Insurance

Not rated

$1,155

Sterling Insurance

Not rated

$1,360

Security Mutual

Not rated

$1,380

4.5

NerdWallet rating 

$1,415

Kensington

Not rated

$1,455

Dryden Mutual

Not rated

$1,465

Kingstone Insurance

Not rated

$1,470

NYCM

Not rated

$1,530

What to know about New York homeowners insurance

Every state has unique hazards that can impact your home. Therefore, it’s essential to know what your home insurance policy covers so you can purchase additional coverage if needed. Some factors that may impact your home insurance in New York include winter weather, flooding and tropical storms.

Winter weather

Cold temperatures and winter storms can wreak havoc on a home, from burst pipes to ice damage. Homeowners insurance covers many but not all of these issues. For example, it’ll generally pay to clean up water damage from a frozen pipe or repair your roof if a blizzard knocks a tree onto it. However, it won’t pay for flooding caused by melting snow unless you have flood insurance.

Flooding

Floods can cause massive damage to a house, including structural problems and ruined furniture, and a standard homeowners insurance policy won’t cover any of it. If your home is in a high-risk flood zone as designated by the Federal Emergency Management Agency, your mortgage lender may require you to buy flood insurance. However, those in low- to moderate-risk areas can also get policies.

To find out if you’re at risk, put your address into FEMA's flood maps or visit RiskFactor.com, a website from the nonprofit First Street Foundation. Even if your home is in a low-risk zone, it may be worth purchasing flood insurance to protect yourself financially.

Hurricanes and tropical storms

In addition to buying flood insurance, New York homeowners may also want to check whether their homeowners policy includes coverage for wind damage. Most policies do unless the home is in a high-risk area along the coast. 

You may also want to check whether you have a separate deductible for wind claims. If so, it may be higher than the deductible for all other types of damage. (A home insurance deductible is the amount of a claim you’re responsible for.) 

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New York insurance department

Don’t forget you have an ally in the New York State Department of Financial Services. This is the agency that oversees New York’s insurance industry. You can check its website to learn about insurance basics or file a complaint. You can also email [email protected] or call the agency’s toll-free helpline at 800-342-3736. Translation services are available.

Looking for more insurance in New York?

Frequently asked questions

Homeowners insurance is not required by New York state law. However, your mortgage lender may require you to purchase home insurance. For more information, read Is Homeowners Insurance Required?

New York homeowners insurance generally costs less than the national average, but your own rate may be high for various reasons. Having poor credit, owning a home that would be expensive to rebuild and living in a neighborhood with a high crime rate are all factors that can lead to higher premiums. Homeowners insurance rates are also going up across the country due to inflation.

Here are three ways to save money on homeowners insurance in New York:

  • Shop around to make sure you’re getting the best rate.

  • Choose a higher deductible. In case of any claims, you’ll pay more out of pocket, but your premiums will be lower.

  • Bundle your home and auto insurance for an overall lower rate. Learn more about home insurance discounts.

Amanda Shapland contributed to this story.

Methodology

NerdWallet calculated median rates for 40-year-old homeowners from various insurance companies in every ZIP code across the state. All rates are rounded to the nearest $5.

Sample homeowners were nonsmokers with good credit living in a single-family, two-story home built in 1984. They had a $1,000 deductible and the following coverage limits:

  • $300,000 in dwelling coverage.

  • $30,000 in other structures coverage.

  • $150,000 in personal property coverage.

  • $60,000 in loss of use coverage.

  • $300,000 in liability coverage.

  • $1,000 in medical payments coverage.

We made minor changes to the sample policy in cases where rates for the above coverage limits or deductibles weren’t available.

We changed the credit tier from “good” to “poor,” as reported to the insurer, to see rates for homeowners with poor credit.

These are sample rates generated through Quadrant Information Services. Your own rates will be different.

Star rating methodology

NerdWallet’s homeowners insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverages, discounts and online experience. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our full homeowners insurance rating methodology.

Complaint methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2020-2022. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

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