Average Home Insurance Cost in New York

New York homeowners spend on average $129 monthly for home insurance, totaling $1,554 annually. That's $160 below the national monthly average ($1,913 annually) or 55% less.

*These rates are for a frame construction home built in 2000 with $250,000 dwelling, $125,000 personal property, $200,000 liability coverage and a $1,000 deductible.

Multiple factors influence your premium: location, coverage amounts, home construction, your insurer, credit history and past claims. These variables can shift your annual costs by hundreds of dollars.

New York's geography creates dramatic rate swings. Urban centers like New York City ($2,111 annually) cost double what rural La Fayette pays ($1,034). Syracuse, Rochester and Buffalo cluster around $1,100 to $1,240 yearly. Long Island communities, including East Meadow and Queens Village, face increased costs due to coastal exposure.

Provider choice matters more than most homeowners realize. State Farm's $980 annual rate beats the competition. Nationwide and Farmers charge around $1,400 yearly. Allstate tops out at $2,217, which is $1,237 more than State Farm annually for the same home and coverage.

Your coverage selections directly control premium costs. Basic protection with $100,000 dwelling coverage runs $805 annually. Standard $250,000 dwelling policies cost $1,554 yearly. High-value homes requiring $1 million dwelling coverage pay $6,129 annually—more than seven times basic coverage costs.

Strong credit signals reliability to insurers, which can help reduce your costs. New York rates range from $1,007 to $2,913 annually, based on credit quality.

The construction year affects what you pay. Homes built in 2020 cost $1,233 annually to insure. Middle-aged properties cost an average of $1,554 yearly to insure, while older construction pushes premiums to $1,662 — a $429 gap between newest and oldest homes.

New York homeowners pay an average of $1,554 annually, which is 55% below the national average of $3,467. Several factors contribute to New York's relatively low home insurance costs compared to other states.

New York home insurance averages $1,554 per year, but strategic shopping can cut costs by hundreds without compromising coverage for repairs, rebuilding or liability protection.

New York homeowners frequently ask about how claims, building age and credit affect premiums.

New York homeowners see quotes vary by thousands of dollars for identical coverage, sometimes six times more. We built our rate analysis to isolate what actually drives your costs, helping you identify where you can save and where you should spend.

Our baseline home: $250,000 dwelling coverage, $125,000 personal property, $200,000 liability and a $1,000 deductible. This frame home, built in 2000 with a composition roof and no claims in five years, reflects New York's median home value and most common construction age. We chose these specifications because they represent the typical New York homeowner's situation.

We changed one variable at a time to measure each factor's real cost impact. For home age, we compared rates for identical coverage on homes built in 1980, 2000 and 2020. For credit scores, we requested quotes using excellent, good, below fair and poor credit while keeping all other details the same. This approach shows exactly what each factor costs, not general trends or estimates.

Your actual rates depend on your home's age, construction type, roof condition, coverage limits, claims history, credit score and ZIP code. Use these comparisons to focus on the factors you can control.