Best Homeowners Insurance In New York 2024

Although Nationwide holds an A+ (Superior) financial rating from AM Best, it scores low in customer satisfaction, as indicated by multiple negative reviews online. However, it does have a significant local presence in New York with many agents and offices.

Unlike many other insurers, Nationwide’s standard policy offers homeowners valuable protections like coverage for credit card fraud and ordinance or law coverage for rebuilding to updated code standards.

By choosing features like Better Roof Replacement, you can enhance your coverage and receive reimbursement for premium roofing materials when your roof must be replaced after a covered event.

With Brand New Belongings, your items are insured for their replacement cost. You’ll get reimbursed for the depreciated value, and after replacing the items, you can send receipts to Nationwide to get the remaining cost back.

State Farm took our top spot due to its broad agent network in New York, high levels of customer satisfaction, and budget-friendly premiums. The high service ratings from J.D. Power are especially important with the availability of agents, adjusters, and offices throughout New York, particularly following severe weather events like tornadoes.

State Farm lets you choose a basic homeowners policy and customize it by adding extra coverage options, such as rebuilding protection to meet updated legal codes, identity theft coverage, and insurance for valuables like jewelry and collectibles. State Farm holds an A++ financial strength rating from AM Best.

State Farm quotes can be initiated online, but purchasing a policy must be done through a local agent. Once you’re a policyholder, you can manage your account, file claims, and sign up for paperless billing through the website or mobile app. The website also includes a resource library for learning more about insurance.

Farmers leads the pack, not just because of the perks it offers, but also for its standout “online experience,” where it effectively communicates these perks and discounts to both current and prospective customers. The perks include:

• Guaranteed Replacement Cost: No matter the total expense, Farmers will pay the full amount needed to rebuild your home.
• Claim Forgiveness: Farmers won’t raise your premiums after you file a claim, as long as you’ve been claim-free for five years.
• Multi-Policy Savings: By bundling policies with Farmers, you could save up to 34% on your home insurance.
• Declining Deductible: Keep your policy active, and you’ll earn $50 each year to lower your deductible.
• Claim-Free Discount: If you’re claim-free for three years, you’ll qualify for a discount on your home insurance.

Farmers’ 9.3/10 rating takes into account its lower customer satisfaction ratings in policyholder service as measured by J.D. Power.

Allstate exceeds the industry’s average of seven home insurance discounts by offering 11. From my analysis, several of these discounts are uniquely beneficial.

These are the discounts available from Allstate:

• Automatic Payment: Save 5% on your policy by activating automatic payment.
• Loyalty: Earn a discount of up to 10% for renewing your coverage with Allstate.
• Home Buyer: New homeowners can take advantage of a discount with Allstate.
• New Home: Newly built homes are eligible for a discount on coverage.
• Responsible Payment: Earn additional savings for your excellent payment history.
• Early Payment: Get a discount of up to 10% by renewing your policy at least a week before it expires.
• Protective Device: Get savings by adding protective devices like smoke detectors or anti-theft systems.
• Claims Forgiveness: Extra peace of mind knowing your rates won’t increase after a claim.
• Claims-Free: You can get 5% back when renewing your policy after a claims-free year.
• Deductible Reward: Join today and get $100 knocked off your deductible.
• Bundle: Save up to 25% by bundling both your home and auto insurance with us.

Providing nine optional coverage types for homeowners insurance, Allstate nearly doubles the average of five found in the industry. In addition to standard options such as identity theft protection and scheduled personal items, they also feature a unique yard and garden coverage that increases limits for replacing landscaping and lawn equipment, including riding mowers.

In New York, Chubb stands out for offering some of the most reasonable home insurance rates aimed at high-value properties. They provide extended replacement cost coverage alongside competitive premiums, allowing your items to be repaired or replaced despite any depreciation. Chubb is known for its strong financial reputation and excellent customer service.