Quick Answer — Home Insurance in New York
Homeowners insurance in New York costs about $1,556/year ($130/month) in 2026 — −56% below the U.S. average of $3,548 (MoneyGeek). New York's statewide average is well below the national figure, but that number hides a wide gap.
$1,556/yr
New York average
$130/mo
Monthly estimate
−56%
vs US avg ($3,548)
Coastal hurricanes
Main cost driver
New York's statewide average is well below the national figure, but that number hides a wide gap. New York City and coastal Long Island carry hurricane and high-value exposure, while upstate homes are far cheaper to insure.
Estimate your own premium by home value and coverage level
Open the Home Insurance Calculator →How Much Is Homeowners Insurance in New York?
| Reference | Annual | Monthly |
|---|---|---|
| New York average | $1,556 | $130 |
| U.S. national average | $3,548 | $296 |
| Most expensive state (Florida) | $10,240 | $853 |
| Cheapest of the major states (California avg) | $1,348 | $112 |
Average annual premiums are MoneyGeek 2026 figures for a standardized homeowner profile. Your rate varies by dwelling value, home age, roof, ZIP code, deductible, and claims history.
Why Homeowners Insurance Is Cheaper in New York
New York's statewide average is well below the national figure, but that number hides a wide gap. New York City and coastal Long Island carry hurricane and high-value exposure, while upstate homes are far cheaper to insure.
How to Lower Your Home Insurance in New York
- On Long Island and the coast, expect a separate hurricane deductible.
- Upstate homeowners should make sure their ZIP code is rated correctly.
- Bundle policies and raise the deductible to lower the premium.
- Compare at least three insurers each renewal, and bundle home with auto for a multi-policy discount.
Homeowners Insurance Cost in Other States
Home insurance is priced state by state, so costs swing widely. Compare New York with other states:
Frequently Asked Questions
How much is homeowners insurance in New York?
The average homeowners insurance premium in New York is about $1,556 per year, or roughly $130 per month, in 2026 (MoneyGeek). That is −56% below the U.S. national average of $3,548. Your actual rate depends on your home's value, age, roof, location, and claims history.
Why is homeowners insurance cheaper in New York?
New York's statewide average is well below the national figure, but that number hides a wide gap. New York City and coastal Long Island carry hurricane and high-value exposure, while upstate homes are far cheaper to insure.
How can I lower my homeowners insurance in New York?
On Long Island and the coast, expect a separate hurricane deductible. Upstate homeowners should make sure their ZIP code is rated correctly. Bundle policies and raise the deductible to lower the premium.
Is home insurance required in New York?
No state legally requires homeowners insurance, but your mortgage lender will require it as a condition of the loan. If you own the home outright it is optional, though going without coverage in New York is a significant financial risk given local perils.