New York home insurance

Common questions about New York
home insurance

New York homeowners face specific challenges living in the Empire State. Harsh winters bring frozen pipes, ice dams, and snow. Hot summers mean thunderstorms and hail that can unexpectedly damage property. Fall's beauty masks the threats associated with hurricane season. Liberty Mutual understands the needs of New York homeowners and offers customized homeowners insurance coverage to fit your specific situation.

What types of homeowners insurance coverages are recommended in New York?

The following insurance coverage comes standard with any homeowners policy:

Personal property coverage
Personal Liability and Medical Payment to Others
Dwelling (Property damage to your home)
Wind/hail²
Hurricane damage²
Additional Living Expenses/Loss of Rent

Note that most tornado damage is generally covered under these standard coverage policies.

The following insurance coverages are recommended for homeowners in New York:

Flood insurance: Homeowners insurance generally does not cover damage caused by floods, which can be a problem during hurricane season, even in New York City. Keep in mind that even if you are not in a flood zone, flooding frequently occurs outside of flood risk areas.
Liberty Mutual offers flood insurance in partnership with the National Flood Insurance Program (NFIP) under the Federal Emergency Management Agency (FEMA). While flood insurance needs to be purchased separately and is often optional, it may be required to secure a home loan if you live in a high-risk flood area.
Personal property replacement cost: If your belongings are lost or damaged in a covered loss such as from theft or a fire, this coverage will cover the cost of brand-new replacement items.

The following optional homeowners insurance coverages should be considered by all homeowners in New York:

Blanket Jewelry
Escape of Water
Personal Electronics Coverage

See our complete list of homeowners insurance coverage

Is homeowners insurance required by law in New York?

No, homeowners insurance isn't required by law in New York, but your mortgage company will most likely require it in order to get a loan.

What is the average cost of homeowners insurance in New York?

The average cost of homeowners insurance in New York is $1,715 per year according to NerdWallet.³ That's 10% lower than the national average. However, this rate may be higher or lower for you depending on the value and age of your home, the coverage you select, your claims history, and a wide variety of other factors.