Updated: January 11, 2026
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State Farm offers New York's cheapest homeowners insurance rates at $980 annually,
State Farm, Main Street America, Nationwide, Farmers and Travelers cost 8% to 37% below the $1,554 state average.
Bundle your home and auto insurance policies to save 10% to 25% on premiums — one of the biggest discounts New York insurers offer.
State Farm is the cheapest home insurance company from New York at $980 per year. Main Street America ranks second at $1,250 annually and covers all New York residents. The five most affordable insurers deliver savings between $118 and $574 compared to the state average.
| State Farm | $82 | $980 | -37% |
| Main Street America Insurance | $104 | $1,250 | -20% |
| Nationwide | $113 | $1,359 | -13% |
| Farmers | $118 | $1,414 | -9% |
| Travelers | $120 | $1,436 | -8% |
*The rates above are for homeowners ages 41 to 60 with good credit and no claims history. Quotes are for a home built in 2000 insured for $250,000 in dwelling coverage, $125,000 in personal property coverage and $200,000 in liability coverage with a $1,000 deductible.
According to our cost research, Main Street America provides the lowest rates for newer homes, young homeowners, seniors, high-risk fire zones and larger properties. Farmers offers the best rate for older homes at $1,361 annually, while Allstate provides the most competitive pricing for smaller homes at $1,931 annually.
| Older Homes | Farmers | $1,361 |
| Newer Homes | Main Street America Insurance | $972 |
| Young Homeowners | Main Street America Insurance | $1,253 |
| Senior Homeowners | Main Street America Insurance | $1,247 |
| High-Risk Fire Homes | Main Street America Insurance | $1,401 |
| Smaller Homes | Allstate | $1,931 |
| Larger Homes | Main Street America Insurance | $2,277 |
The cheapest company may not be your best fit. Customer service quality, coverage options and claims handling matter beyond price. Our guide to the best home insurance companies in New York compares insurers across these factors.
The cheapest home insurance provider varies across New York based on local risk factors that affect each company differently. Main Street America offers the lowest rates in Albany and Buffalo, while State Farm provides better deals in Brooklyn and East Meadow. Farmers is the most affordable option for Yonkers residents.
| Albany | Main Street America Insurance | $824 |
| Brooklyn | State Farm | $991 |
| Buffalo | Main Street America Insurance | $750 |
| Cooperstown | Main Street America Insurance | $720 |
| East Meadow | State Farm | $1,254 |
| La Fayette | Main Street America Insurance | $582 |
| New York | State Farm | $966 |
| Queens Village | State Farm | $980 |
| Rochester | Main Street America Insurance | $618 |
| Syracuse | Main Street America Insurance | $640 |
| Yonkers | Farmers | $861 |
For basic coverage in New York, State Farm offers the lowest rates at $490 annually for $100,000 dwelling, $50,000 personal property and $100,000 liability protection. Main Street America provides the most affordable premiums for high-value home coverage and for $1 million dwelling and liability protection.
| State Farm | $41 | $490 |
| Farmers | $50 | $599 |
| Nationwide | $57 | $682 |
| Narragansett Bay Insurance Company | $61 | $729 |
| Travelers | $62 | $741 |
New York homeowners can cut their insurance costs by hundreds of dollars annually through discounts, higher deductibles and smart home improvements.
Combine your home and auto insurance with the same company to save 10% to 25% on both policies. State Farm, Allstate and Progressive offer bundle discounts to New York homeowners.
Raise your deductible to lower your annual premium, though you'll pay more out of pocket when filing a claim. Choose a deductible amount you can afford if you need to file a claim.
New York allows insurers to use credit-based insurance scores when setting rates. Improving your credit score can save you hundreds of dollars annually on your home insurance premium.
Filing multiple claims within three years triggers rate increases. Use homeowners insurance for major losses rather than small repairs you can afford.
Contact your insurer to find all discounts you qualify for beyond bundling. Review your policy annually to add new discounts as your situation changes.
Frequently asked questions about the cheapest home insurance in New York:
Standard homeowners insurance in New York covers tornado damage through your dwelling and personal property coverage. New York isn't considered a high tornado risk area, but your policy should protect you if the unexpected happens.
Flood insurance isn't required statewide in New York, but your mortgage lender will require it if you're in a FEMA-designated high-risk flood zone. Even if it's not required, you might want to consider it since standard homeowners insurance doesn't cover flood damage, leaving you vulnerable to potentially huge out-of-pocket costs.
Replacement cost coverage pays the full amount to replace your damaged property at today's prices, while actual cash value coverage deducts for depreciation and wear. Most New York lenders require replacement cost coverage since it better protects their investment and ensures you can actually afford to rebuild.
You can cancel your New York home insurance anytime by giving your insurer written notice. Most companies won't charge cancellation fees and will refund any unused premium. Your mortgage lender requires continuous coverage to avoid potential complications.
Our rate analysis reflects what most New York homeowners need: standard coverage for a typical single-family home built within the past 25 years.
We collected quotes from major insurers using a consistent homeowner profile across New York. This approach shows how each company prices the same coverage by removing variables that make direct comparisons difficult. The base profile represents the most common home insurance scenario in New York.
Standard Coverage Profile:
For specialty scenarios like older homes, high-value properties and rural locations, we adjusted variables from this base profile while keeping other factors constant. This shows how specific characteristics affect your rate compared to the standard homeowner.
These figures are estimates based on statewide averages. Your actual premium depends on your home's location, age, construction type and your claims history. Compare quotes from at least three insurers to find your lowest rate.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
