Not all homeowners’ insurance is created equal.
This is especially true in New York, as personal insurance coverage limits, endorsements and standard exclusions to homeowners insurance policies can vary widely from carrier to carrier.
Choosing the right homeowners insurance policy comes down to choosing the right insurance professional.
You need an insurance agent who knows the market, has access to the right carriers, and is going to ask you the tough questions necessary to get your policy set up correctly.
Watch this video below or keep reading to learn more…
What Is The Best Homeowners Insurance In New York?
The right insurance professional is going to shop your home across multiple carriers to find the best homeowners insurance in New York.
Finding the right homeowners’ insurance is going to involve answering questions. Questions such as:
- Do you have children?
- Is your home in a flood zone?
- Do you have a finished basement?
- What kind of service lines do you have?
- Do you have trees hanging over your home?
- Do you have a pool?
- Do you have a fence?
- Do you have a trampoline?
- Do you have dogs, what kind of dogs?
- Do you have a hobby farm?
There are all kinds of things that go into setting up the best homeowners’ insurance policy.
After a quick interview, your insurance professional should package your information, along with a home replacement cost calculation, and send it out to a variety of insurance carriers.
This creates the greatest opportunity for you to find the best homeowners insurance policy available.
Whether it’s a large national carrier such as Safeco, Travelers, Hartford, or regional carriers such as NYCM, Dryden, or Plymouth Rock, there is no right or wrong answer, only the best fit for your specific needs.
READ NEXT: How Much Homeowners Insurance Do I Need?
Home Insurance Claims Handling Matters
The final piece to finding the best homeowners insurance is the carrier’s claims handling process.
Every insurance carrier is going to be a little different when it comes to claims.
This is where you need to lean on your insurance professional for their guidance. Some insurance carriers look to find ways NOT to pay a claim, while others look for ways to pay.
We’re talking about dramatic and dynamic differences in terms of the way certain carriers handle claims versus others.
Average Cost of Homeowners Insurance in New York
In a report released in 2019, the National Association of Insurance Commissioners found that the average annual home insurance premium across the country was $1,211.
That same report detailed the average annual home insurance cost in New York as being $1,309, or about 8% higher.
Carriers evaluate a number of factors to determine the amount you pay for home insurance in New York. These include your location, the age and construction of your home, your credit record, your coverage, your endorsements and deductibles, and available discounts.
Combining these factors determines how much homeowners insurance you need.
Helpful Resources for New York Homeowners
If you’re shopping for homeowners insurance in New York, there are several resources that can help you learn about what coverages are available and determine which options are best suited for your situation.
The New York State Department of Financial Services has a comprehensive knowledge base for homeowners. Under the Homeowners Insurance category, you can read about the types of insurance available, get help with choosing a policy, see solutions when you have problems obtaining insurance, and learn how to reduce your chances of a loss.
The New York Property Insurance Underwriting Association offers a wealth of information about homeowners insurance in New York. It also administers the Coastal Market Assistance Program (C-MAP) to provide insurance to coastal residents who may not find coverage elsewhere.
If you’re ready to purchase a policy, you’ll want to work with an agent who can compare quotes from the best homeowners insurance companies in New York to get the best value for your money.
Best New York Homeowners Insurance Companies
In determining the best homeowners insurance in New York, we always start with a carrier’s ability to handle and pay claims. The size and brand recognition of an insurance carrier play almost no role in the quality of the company.
We further refined the list by comparing each company’s J.D. Power Overall Customer Satisfaction Score and AM Best Financial Strength Rating.
We then considered the types of coverage offered, pricing, and the availability of discounts. Pricing information was determined by using general profiles to come up with average rates. The rates we mention may be higher or lower than what you pay based on your personal circumstances.
Lastly, we added in our own experience providing homeowners insurance to New York residents for over 15 years to round out the list.
NOTE: These carriers are not in rank order as the nuances of each are too specific to each home.
The Hanover Insurance
Hanover offers Platinum Home insurance with three flexible coverage packages, enabling you to select a package that closely matches your particular lifestyle. Each of these options can be further shaped to meet your needs with our special home insurance endorsements such as:
- Equipment breakdown
- Guaranteed replacement cost
- Water back-up and sump overflow
- Waiver of deductible
- Siding and/or roof restoration coverage
The Rogue Take
Hanover’s home insurance product is one of the most comprehensive when it comes to coverage and protection. Their claims handling is tremendous and they’re easy to work with when there is a problem. They are not the cheapest option, but if you care about your home and what’s inside it, then The Hanover is a great option.
Whether you’re buying insurance for your first home or the high-value home of your dreams, Travelers can help you protect this prized possession with homeowners’ insurance that fits your priorities and your budget.
Travelers has been around for more than 165 years and has earned a reputation as one of the best property casualty insurers in the industry because they take care of our customers. Their expertise and focus on innovation have made them a leader in personal, business and specialty insurance and the only property casualty company in the Dow Jones Industrial Average.
Every day, approximately 30,000 Travelers employees and 13,500 independent agents and brokers in the United States, Canada, the United Kingdom and Ireland help provide peace of mind to their customers.
The Rogue Take
Travelers is known throughout the insurance industry as a homeowners insurance company that pays claims. That may sound like a given, but in Travelers case they look to find ways to pay. That’s a good thing for you.
New York Central Mutual
NYCM Insurance is a property and casualty insurance company located in central New York that employs over 800 personnel.
The company was founded in 1899 by VanNess DeMar Robinson. NYCM Insurance continues to provide the outstanding service and security it was built on over 100 years ago.
The Rogue Take
There is a good chance, you’ve never heard New York Central Mutual (NYCM) unless you’ve had homeowners insurance with NYCM before. But if you’ve had your homeowners insurance with NYCM then you still probably have your homeowners insurance with NYCM because they are the best in New York.
Safeco knows trust matters when it comes to some of your biggest investments, like your home, car, and even your boat. From the smallest fender-bender to a storm-damaged home, Safeco is standing ready at life’s trying moments.
With a comprehensive range of insurance coverage and expert advice from local independent agents (like Rogue Risk), Safeco makes it simple to protect what’s important to you, and easy to get the best mix of coverage and pricing.
At Safeco Insurance, we promise to make it easy for you, to provide the coverage you need, to connect you with local agents who offer personal advice, and most important of all – to be there for you when you need us most.
The Rogue Take
Safeco insurance is as solid a homeowners’ insurance company as you’re going to find in the state of New York. Consistent pricing, consistent claims handling, and solid service. You can’t go wrong with Safeco.
Plymouth Rock Assurance believes you deserve the peace of mind when protecting the important assets in your life. That’s why we offer affordable rates on car and home insurance, along with other types of insurance, through our agent relationships and partnerships.
If you’re shopping for car insurance or home insurance, be sure to include Plymouth Rock in your search. Plymouth Rock delivers more than you’d expect at a price that’s less than you’d expect. Plus, we make it easy to request a quote online, over the phone, or with one of our expert agents.
The Rogue Take
Plymouth Rock is a relatively new player on the New York home insurance scene, but they are sure to be a major force in short order. Plymouth Rock is unique in its ability to provide a homeowners insurance quote with just your address which makes its product fast and easy to use.
My recommendation to you when finding the best homeowners insurance for you and your family is to work with an agent who’s going to package your policy up, send it out to carriers, and come back and have a quick discussion with you about what the nuances of each carrier and their specific recommendation is for your best policy.
Your best homeowners insurance policy may not be the same as your neighbor’s best policy, or sister’s or your cousin’s who lives on the other side of the state.
If you have questions about your homeowners’ insurance, both from either a coverage or price perspective or you want to make sure you’re working with a great company that’s always going to be there when you need them, give us a call.
We are homeowners insurance experts, it’s what we do all day long here at Rogue Risk.
You can call us at (518) 960-6600 or click here to contact us online.
Thank you and have a great day,