If you’re looking into buying a home, you’re probably aware that you’re also going to need to buy homeowner’s insurance. Navigating policies along can be confusing and overwhelming, which is why we took the time to break down and explain your coverage options. Keep reading to learn how to decode your policy.
Home insurance costs in New York are close to the national average, with New York’s average premiums often between $1,000 and $1,200. By comparison, residents in Idaho average just under $600 and Florida residents can expect to pay an average of about $2,000.
Averages, of course, include highs and lows and everything in between. Individual rates will vary based on the insured value of your home, selected coverage options and limits, and your level of “risk” as determined by each insurer.
What should you look for when getting homeowners insurance?
• Decide How Much Coverage You Need
• Compare Deductibles
• Replacement Cost or Actual Cash Value?
• Shop Around Before You Buy
• Ask Your Agent About Discounts
• Read Your Policy Carefully
• Review Your Home Insurance Needs Every Year
Below is the list of 6 Best Home Insurance Companies in New York
Amica is an outstanding insurance company that excels by offering a great customer service experience and low rates. Amica doesn’t offer the most unique discounts, but it offers a high number of common discounts for customers, particularly for car insurance. Amica provides enough features to offset any negatives even in areas where it falters.That’s why Amica is in our no.1 best homeowner insurance companies list.Recently, Amica was awarded JD’ Power’s “Highest Customer Satisfaction Among National Homeowner Insurers” for the 16th year in a row, proving the company’s commitment to customer service and claims satisfaction. Among Amica’s home insurance products is a policy they call Platinum Choice Home, which offers Special Form coverage for both dwelling (the house) and for Personal Property (personal belongings). Special Form coverage is the best home insurance policy type available because it covers all perils except those which are specifically excluded.
State Farm is the nation’s largest private passenger auto insurer, but it offers a wide variety of other insurance and financial products, sold exclusively by State Farm agents. If you’re looking for a well-known brand name with a generous selection of products and consumer-friendly pricing, State Farm might be right for you.
Wherever you’re located in New York, it’s likely that there’s a local State Farm agent nearby who can provide service and guide you through your coverage options.
State farm also shines in its selection of products, providing real coverage solutions for anyone from renters to homeowners to landlords. Many insurers focus on homeowners insurance and aren’t as strong on other residential policies.
If you live in New York, it’s likely that you have an Allstate Agent close to your home. Allstate has one of the largest agent networks among the nationwide insurers, providing easy access to someone knowledgeable about your policy features who can answer questions and provide guidance on coverage.
Allstate is probably best known for its car insurance policies, but the giant company offers a variety of financial services. With its massive reach, wide range of products and many local agents, it’s a good choice for consumers who want an accessible one-stop company.
Like many home insurers in our roundup, Liberty Mutual, founded in 1912, has been protecting its customers for a long time. Liberty Mutual is a mutual insurer, meaning the company is owned by its customers as opposed to public or private investors.
What really sets Liberty Mutual apart, though, are its unique resources. For example, its Emergency Home Repairs service is available 24/7. If you suffer a covered loss, call and the company will send professionals to begin repairs day or night. All of the home insurance providers we evaluated have a 24/7 claims management service, but only Liberty Mutual will begin fixing your home up on the spot.
Claims-free customers coming from other carriers can save and customers who remain claims-free with Liberty Mutual can also earn a discount. Planning ahead can save money on premiums as well for customers who start a quote before their policy with their current insurer expires.
Travelers is one of the most enduring and well-known names in insurance. It’s among the nation’s largest providers of home and autoinsurance policies. If you’re looking for an in-person experience with an agent and want to buy multiple products from one provider,Travelers might be a good fit.
Travelers primarily sells its policies through independent agents, expanding its presence and assuring that customers can find local support. An independent agent represents a number of companies, which is good for consumers because if a Travelers policy isn’t the best value for a particular situation, an independent agent has other options to provide coverage—and if Travelers is the best pick, they earned your business above other available options.
Travelers earns exceptional financial scores — A++ from A.M. Best — meaning it can be fully trusted to pay out on claims of any size. All in all, this is a solid provider. We just wouldn’t recommend it if you have an old home valued at under $1 million.
USAA is nearly perfect for New York homeowners. Though this insurance company may only be utilized by members of the US military and their families, its quality cannot be understated. In fact, J.D. Power ranks USAA a perfect five out of five in every category.
USAA only covers active military service members, veterans, and their families. That, on top of the fact that there were so few advertised discounts, leads us to rank the company just a little lower in our listing.
If you have strong ties to the military, you may find some perks you can’t get anywhere else. After all, there aren’t many homeowners insurance providers that will cover your uniforms should they be lost or damaged. And, if you bank with the USAA Bank, your claims can be answered quickly via direct deposit.
When deciding which coverages you should have as a resident of New York, consider the area in which you live. Is your home prone to high winds, heavy snows or coastal flooding? If so, find coverage options that provide the protection you need. Do you live in a high-crime area? Then theft coverage may be a priority. Whatever your specific needs, a local agent can help you determine the policy that suits you best.