Main Street America Insurance is the cheapest home insurance option for most homeowners in New York, with an average monthly savings of $434. Below is a summary of the most affordable providers in the state.
Cheapest Home Insurance in New York
Updated: May 27, 2025
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Key Takeaways
Main Street America Insurance, State Farm, and two other providers offer the lowest-cost home insurance in New York overall, with potential savings of up to 88%.
Main Street America Insurance offers the cheapest homeowners insurance in New York if you own a new home or have bad credit.
State Farm offers the most affordable home coverage for those in high-risk fire areas in New York.
What is the Cheapest Home Insurance in New York?
| Main Street America Insurance | $65 | $785 | 40% |
| State Farm | $81 | $976 | 25% |
| Travelers | $92 | $1,109 | 15% |
| Farmers | $104 | $1,245 | 5% |
*These rates are based on a house built in 2000 with a $1,000 deductible, $250,000 in dwelling coverage, $125,000 in personal property coverage, $200,000 in liability coverage and class 3 fire protection. The insured is assumed to have good credit and no claims in the past five years.
THE CHEAPEST COMPANY MAY NOT BE THE BEST FOR YOU
While these companies may offer the lowest rates in New York, evaluating their customer service reputation and coverage options is important. To help, we’ve created a separate guide to the best home insurance companies in New York, providing a more comprehensive overview.
Cheapest New York Home Insurance Rates by Category
While we’ve listed the cheapest options for most homeowners, those rates may not reflect your specific situation. For instance, while Main Street America Insurance is typically the cheapest overall, it offers the best rates for newer homes. To help, we’ve outlined the cheapest companies on average for common categories.
| Main Street America Insurance | Older Homes | $65 |
| Main Street America Insurance | Newer Homes | $48 |
| State Farm | Homes in High Risk Fire Areas | $81 |
| State Farm | Bad Credit | $150 |
*Rates are modified based on our methodology’s base profile. Newer home estimates are based on a home built in 2023, high-risk fire estimates are for a policy with 8-class fire protection, and bad credit rates assume a poor credit score on the FICO scale.
Compare Personalized Cheap New York Home Insurance
The companies listed above typically provide the best rates for their categories, but actual rates vary based on your unique profile. Use the filter below to get a personalized list of the cheapest providers for your situation.
Data filtered by:Results filtered by:
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Coverage Level:$250K Dwelling / $125K Personal Property / $200K Liability
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Deductible:1000
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Claims History:Claim free for 5+ years
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Credit Tier:Good
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Home Age:Older Homes
| Main Street America Insurance | $74 | $883 |
| State Farm | $81 | $976 |
| Travelers | $97 | $1,163 |
| Farmers | $104 | $1,245 |
| Nationwide | $110 | $1,325 |
Cheapest New York Home Insurance By City
Risk factors for insurers vary by location, making some providers more affordable than others. For example, Main Street America Insurance is the cheapest in cities like Albany, Buffalo, Rochester, and Syracuse. However, State Farm offers lower rates in New York City, while Farmers is more affordable in Yonkers.
| Albany | Main Street America Insurance | $53 |
| Buffalo | Main Street America Insurance | $54 |
| New York | State Farm | $82 |
| Rochester | Main Street America Insurance | $44 |
| Syracuse | Main Street America Insurance | $46 |
| Yonkers | Farmers | $76 |
*These rates are based on a house built in 2000 with a $1,000 deductible, $250,000 in dwelling coverage, $125,000 in personal property coverage, $200,000 in liability coverage and class 3 fire protection. The insured is assumed to have good credit and no claims in the past five years.
How To Find the Cheapest New York Home Insurance for You
Finding affordable home insurance in New York can be challenging, but you can significantly lower your costs with some effort. Below are our core recommendations to help you maximize savings on your policy.
- 1
Determine your coverage needs
It's easy to get oversold on coverage when you don't have limits in mind before buying. Determine your home insurance coverage needs beforehand to avoid purchasing too much. Understanding the different types of home protection available helps ensure you don't miss something important.
- 2
Research home insurance cost information
Analyze home insurance costs in New York to better comprehend pricing for your needs. Don't overlook asking about available discounts because companies usually wait for customers to request these savings.
- 4
Compare multiple companies apples to apples
To ensure you’re getting a good deal, compare quotes for the same coverage. Once aligned, gather as many quotes as possible using different methods to find the best rate.
- 5
Use state-provided programs
If you have a high-risk profile and face coverage denials or unaffordable rates, New York offers a state program through the New York Property Insurance Underwriting Association (NYPIUA). This program provides coverage for those denied by traditional insurers, often at a lower cost than insurers willing to approve you.
Cheap Home Insurance New York: Bottom Line
Main Street America Insurance, State Farm, and Travelers offer New York's most affordable home insurance. Denied coverage? The TFPA has low-cost options. Always compare multiple providers, research costs, and assess your coverage needs before choosing.
Cheapest Home Insurance New York: FAQ
Below are answers to frequently asked questions about the cheapest home insurance in New York:
What is the cheapest home insurance company in New York?
Main Street America Insurance offers the lowest rates for newer homes in New York at $48 per month or $576 per year. However, homeowners with older properties or higher fire protection needs may find better rates with Main Street America or State Farm.
How expensive is home insurance in New York?
New York has the 11th-highest home insurance rates in the U.S.
How much is home insurance in New York?
You should secure enough home insurance to cover the complete rebuilding of your house, account for personal possessions, and consider local hazards. Your policy should factor in extras for unique or priceless items as well.
While home insurance is not required by law, mortgage lenders typically require sufficient dwelling protection to rebuild your home in case of total loss. It's important to assess the value of your contents and take into account local risks and special valuables when determining coverage.
How much home insurance do I need?
You should secure enough home insurance to cover the complete rebuilding of your house, account for personal possessions, and consider local hazards. Your policy should factor in extras for unique or priceless items as well.
While home insurance is not required by law, mortgage lenders typically require sufficient dwelling protection to rebuild your home in case of total loss. It's important to assess the value of your contents and take into account local risks and special valuables when determining coverage.
How We Found the Cheapest Home Insurance Companies in New York
To determine the cheapest home insurance companies in New York, we assumed the following base profile:
- $250K dwelling coverage
- $125K personal property coverage
- $200K liability coverage
- Home built in 2000
- Frame construction
- Composition roof
- $1,000 all perils deductible
- No claims in the past 5+ years
- 3-class fire protection
All other combinations were adjusted based on this profile to provide a more accurate comparison for your specific situation. However, these figures are estimates, and we recommend comparing quotes from multiple providers to secure the best deal.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.