There are many strong options for home insurance in New York. In 2025, four incumbents still reliably stand out for broad availability, service, and value: NYCM, Nationwide, State Farm, and Allstate. Premiums have risen significantly since 2021 and vary widely by ZIP code and coverage, so comparing several quotes is critical. Cross‑source comparisons from Bankrate and NerdWallet, along with service insights from the J.D. Power 2024 U.S. Home Insurance Study, can help you narrow the field.
4 Best Homeowners Insurance Companies in New York
- NYCM: Best for Cheap Rates
- Nationwide: Best for Add-on Coverages
- State Farm: Best for Digital Tools
- Allstate: Best for Discounts
Compare the Best New York Homeowners Insurance Companies
| Average Annual Premium* | AM Best Financial Strength AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | 2021 J.D. Power Claim Satisfaction J.D. Power scores are based on surveys for customer satisfaction and product quality. | ||
|---|---|---|---|---|
| Pin NYCM | $394 | A (Excellent) | N/A | |
| Pin Nationwide | $787 | A+ (Superior) | 892/1,000 | |
| Pin State Farm | $779 | A++ (Superior) | 880/1,000 | |
| Pin Allstate | $1,234 | A+ (Superior) | 882/1,000 |
*Earlier sample shown at $250,000 Coverage A. Current statewide averages for roughly $300,000 Coverage A are typically around $1,600–$1,850 per year, with higher costs in coastal counties and lower in many upstate areas — see Bankrate, NerdWallet, and Policygenius.
NYCM
NYCM (New York Central Mutual) remains a strong regional choice, often pricing competitively for many upstate ZIP codes and offering local agent support and familiar coverage options. It frequently appears in New York shortlists from sources like Bankrate and NerdWallet, though actual rates vary widely by location and home profile.
Best for Cheap Rates
Why we chose it
Why we chose it
Pros
- Highly competitive rates
- Numerous discounts available
- Below industry average NAIC complaints
Cons
- App is not as highly-rated versus competitors
- No online purchase option
- Limited add-on coverages
DISCOUNTS AVAILABLE
- Work from home
- Retirement
- Renovation
- Green home
- Gated community
ADD-ON COVERAGES
- Umbrella insurance
- Flood insurance
- Valued possession
- Utility line
Nationwide
Nationwide stands out for the number of optional coverages homeowners in New York can add to their policy. Add-ons let you tailor protection (for example, water backup, extended/replacement cost on dwelling and contents, service line, and identity theft) and can be useful as weather risks and rebuilding costs rise — see current New York comparisons from Bankrate.
Best for Add-Ons
Why we chose it
Why we chose it
Pros
- Numerous add-on coverages
- High customer satisfaction ratings
Cons
- App is more focused on auto insurance
DISCOUNTS AVAILABLE
- Home renovation credit
- Gated community discount
- Home purchase discount
- Protective device
- Roof rating
ADD-ON COVERAGES
- Identity theft
- Earthquake
- Water backup
- Valuables plus
- Flood insurance
- Replacement cost plus
NATIONWIDE INSURANCE REVIEW
State Farm
State Farm stands out for its robust digital resources and large agent network. Policyholders can manage coverage and claims through the mobile app and online, or work with a local agent, aligning with trends highlighted in the 2024 Insurance Digital Experience Study. See the State Farm app for features such as claims filing/tracking and telematics program access.
Best Digital Tools
Why we chose it
Why we chose it
Pros
- User-friendly mobile app
- Excellent financial strength ratings
- Large network of 19,000+ agents
Cons
- Few discounts offered
DISCOUNTS AVAILABLE
- Multi-policy
- Protective devices
- Impact-resistant roof
ADD-ON COVERAGES
- Pet protection through a third party
- Flood insurance
- Earthquake insurance
STATE FARM INSURANCE REVIEW
Allstate
Allstate offers programs and discounts that can help New York homeowners lower costs — for example, claims‑free and bundling discounts — though amounts and availability vary by state and profile. Because pricing and service can differ by location, it’s wise to compare agents and review outcomes using tools like the NAIC Complaint Index alongside quotes.
Best for Discounts
Why we chose it
Why we chose it
Pros
- Financial strength
- Helpful mobile app and online tools
- Numerous and unique discounts
Cons
- Higher amount of registered customer complaints
DISCOUNTS AVAILABLE
- Multi-policy
- Responsible payment
- Welcome and loyalty discount
- Homebuyer for new construction
- First-time purchase
ADD-ON COVERAGES
- Business property
- Sports equipment
- Green home improvement
- Electronic data recovery
- Musical instruments
ALLSTATE INSURANCE REVIEW
Average Cost of Homeowners Insurance in New York
Recent 2025 market analyses place New York’s average homeowners premium roughly in the $1,600–$1,850 range per year for a typical HO‑3 policy with about $300,000 in dwelling coverage, though quotes vary substantially by ZIP code, home characteristics, deductible, and endorsements. Private, quote‑based datasets from Bankrate, NerdWallet, and Policygenius reflect today’s market, while the latest official averages from the NAIC run on a time lag but confirm New York remains below the most catastrophe‑prone states. Since 2022, premiums have risen due to higher repair costs and catastrophe losses, as discussed by the Insurance Information Institute. Coastal counties (e.g., Nassau, Suffolk) often see higher prices and may include separate wind/hurricane deductibles.
Average Annual Premiums from Homeowners Insurance Companies in New York
The table below reflects historical sample figures and illustrates how widely premiums can vary by company. In today’s market (2024–2025), expect higher statewide averages and significant ZIP‑level dispersion; it’s prudent to compare at least 5–8 quotes across regional and national carriers — see current overviews from Bankrate and NerdWallet.
| Company | Average Annual Premium* |
| NYCM | $394 |
| Main Street America Group | $517 |
| Merchants Mut Grp | $604 |
| Ontario Ins Co | $706 |
| Dryden Mut Ins Co | $711 |
| Sterling Ins Co | $716 |
| Preferred Mutual | $741 |
| Tower Grp | $741 |
| USAA | $775 |
| State Farm | $779 |
| Security Mut Ins Co | $779 |
| Nationwide | $787 |
| Travelers | $933 |
| NBIC Holdings Grp | $1,039 |
| Utica National | $1,054 |
| Allstate | $1,234 |
| PURE | $1,363 |
| The Hanover | $1,438 |
| Chubb | $1,651 |
*Earlier illustrative samples shown at $250,000 Coverage A. Current statewide averages for about $300,000 Coverage A are higher — see Bankrate, NerdWallet, and Policygenius.
Top 3 Most Expensive Companies for New York Homeowners Insurance
- Chubb: Often priced above average for high‑value or complex homes; strong coverage for affluent risks.
- The Hanover: Pricing varies by ZIP and profile and can be higher than the statewide average.
- PURE: Typically positioned for affluent homes; premiums often exceed mainstream carriers.
Top 3 Cheapest Companies for New York Homeowners Insurance
- NYCM: Often among the lowest for many upstate ZIP codes; verify with current quotes.
- Main Street America Group: Competitive for certain profiles and locations; pricing varies.
- Merchants Mut Grp: Can be among the more affordable options in parts of New York; shop and compare.
New York Home Insurance Considerations
New York homeowners face a mix of weather risks, from nor’easters and heavy rain to tropical‑storm wind and snow. Standard homeowners policies exclude flood (including storm surge and surface water), so consider separate NFIP or private flood insurance. Check your FEMA flood risk and local rainfall guidance like Rainfall Ready NYC. In coastal counties, many policies include separate wind or hurricane deductibles, and pricing is typically higher; see consumer guidance from the New York State DFS.
High‑value endorsements to discuss with your agent include personal property replacement cost, water/sewer backup, service line, equipment breakdown, and Ordinance or Law coverage for code updates. These add‑ons help address common gaps in a standard policy and can be especially important for older housing stock — see typical options outlined by major insurers (e.g., Travelers).
Helpful Resources for New York Homeowners
New York homeowners are subject to a number of weather-related perils, including threats from hurricanes, severe thunderstorms and snow. Not only should homeowners review their flood insurance needs, but residents can also sign up for hazard notifications at nyalert.gov. For shopping and coverage guidance, see the New York State DFS Homeowners Insurance page and NYC’s Rainfall Ready. Other resources New York homeowners may find helpful include:
- Storm Preparedness Tips – New York Department of Financial Services
- Maintaining Adequate Insurance – New York Department of Financial Services
- Flood insurance – New York Department of Financial Services
Frequently Asked Questions
Methodology
We evaluated the companies based on their third-party agency ratings for customer experience, financial stability, as well as coverage options to determine which might be the best providers.
To compare home insurance companies across the board, we considered the following factors:
- Customer Ratings — Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using 2024 J.D. Power Home Insurance Study ratings.
- Coverage — As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available.
- Confidence — It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength ratings indicate a positive history of being able to pay out claims. We measured this using AM Best ratings.
- Customer Experience — The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.
Rates and comparisons reference current, quote-based datasets (2024–2025) from Bankrate, NerdWallet, and Policygenius. These are sample rates for standardized profiles and should be used for comparative purposes only. Your quotes may be different.
The coverage limits for home insurance rates reflect the following coverage and limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required). In coastal counties, many insurers apply special wind or hurricane deductibles; review your policy terms carefully and confirm triggers and percentages with your agent (Bankrate, NY DFS).
