Homeowners Insurance in New York

The average New York homeowners premium is $1,801 a year (NAIC) — ▲ +4% versus the U.S. average of $1,737, ranking 17th of 51.

These are estimates, not quotes. Home figures are modeled from NAIC state averages, Census home values and FEMA hazard ratings for comparison only. Real premiums depend on the insurer, the home, its roof and claims history. We are not an insurance company or agency. How we estimate

Average homeowners and renters insurance in New York

Homeowners (HO-3)

$1,801

NAIC average / year

Renters (HO-4)

$176

U.S. $173

Median home value

$423,800

Census ACS

FEMA expected loss rating

Relatively Moderate

all natural hazards

NAIC averages cover standard owner-occupied (HO-3) policies. Premiums scale with the cost to rebuild, so New York's median home value of $423,800 and its exposure to wind, hail and wildfire explain much of the difference from other states.

Natural hazard risk in New York

FEMA National Risk Index — expected annual loss by hazard (state level)
Hazard	Expected loss rating	Score	Expected annual loss
Hail	Relatively Low	54.7	$21,134,020
Tornado	Relatively Moderate	54.7	$133,797,784
Hurricane	Relatively Moderate	80.4	$241,997,118
Inland (river) flooding	Relatively High	94.6	$2,785,001,302
Coastal flooding	Relatively High	91.9	$70,495,876
Wildfire	Very Low	21.6	$1,330,846
Earthquake	Relatively Moderate	75.0	$234,393,493
Winter weather	Very High	91.1	$22,703,808
Strong wind	Relatively High	77.4	$104,263,416
Lightning	Relatively High	76.9	$42,843,682

Standard homeowners policies exclude flood and earthquake; both need separate coverage. Wind and hurricane damage is covered but often with a separate percentage deductible in coastal states.

Home Insurance Estimator

Estimated annual premium

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Per month

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Estimated homeowners insurance by city

For a home at each city's median value, standard frame construction and a $1,000 deductible. The lowest estimate is in Rochester ($660) and the highest in New York City ($2,955).

City	Median home value	Median year built	Hail / wind	Est. premium
New York City	$777,600	1952	Relatively High / Very High	$2,955
Buffalo	$164,200	1938	Relatively Low / Relatively Moderate	$780
Yonkers	$501,600	1958	Very Low / Very High	$1,975
Rochester	$139,600	1938	Very Low / Relatively Moderate	$660
Syracuse	$138,400	1948	Relatively Moderate / Very High	$710
Albany	$234,700	1949	Relatively Low / Relatively Moderate	$980
New Rochelle	$702,500	1955	Very Low / Very High	$2,585
Mount Vernon	$484,000	1953	Very Low / Very High	$1,920
Plattsburgh	$195,900	1962	Very Low / Relatively Moderate	$775

Car insurance in New York →

Frequently asked questions

How much is homeowners insurance in New York?

NAIC data puts the average New York homeowners (HO-3) premium at $1,801 a year, ranking 17th of 51 (1 = most expensive). The national average is $1,737.

How much is renters insurance in New York?

The NAIC average renters (HO-4) premium in New York is $176 a year.

What natural hazards affect home insurance in New York?

FEMA's National Risk Index rates New York relatively high or very high for expected annual losses from inland (river) flooding, coastal flooding, winter weather, strong wind, and lightning. Standard homeowners policies exclude flood and earthquake, which need separate coverage.

Does homeowners insurance cover floods in New York?

No. Standard homeowners policies exclude flood damage. Flood coverage is sold separately through the National Flood Insurance Program (NFIP) or private insurers.

How we estimate this

We start from the NAIC average homeowners (HO-3) premium for the state, scale it by the ratio of the home value to the state median home value (Census ACS), adjust for construction type and deductible, and apply a hazard factor from FEMA National Risk Index scores for the county relative to the state. Results are rounded estimates, not quotes. Read the full methodology.

Sources used on this page