New York Homeowners Insurance

U.S. Treasury FIO data for 1,530 ZIP codes in New York (NY).

Homeowners in New York pay an average of $1,896 per year for home insurance — 7% above the national average of $1,776. That ranks New York as the 20th most expensive state out of 51 for homeowners insurance. Between 2018 and 2022, premiums rose by 6.6%.

On five-year premium growth (2018–2022), New York ranks 24th out of 51 states. Its nonrenewal rate (0.59%) ranks 48th out of 50 — nonrenewal is an early warning indicator of insurer retreat, often tied to disaster risk.

Source: U.S. Department of the Treasury, Federal Insurance Office — "Analyses of U.S. Homeowners Insurance Markets, 2018–2022." Premium values are five-year averages across all ZIP-level observations. See methodology for caveats.

Avg Premium
$1,896/yr
National avg: $1,776 (+7% above)
Premium Change
+6.6%
2018-2022 change
Avg Loss Ratio
42.7%
Claims paid vs premiums earned
Nonrenewal Rate
0.59%
-7.2% change

Data Snapshot: New York Homeowners Insurance

New York homeowners paid an average of $1,896 per year for home insurance based on U.S. Treasury FIO data covering 1,530 ZIP codes across the state. That is 7% above the national average of $1,776 per year reported by the Federal Insurance Office. New York ranks 20th most expensive out of 51 states and territories on annual premium, with ZIP-level observations ranging from $723 in 14884 to $22,974 in 11962.

Between 2018 and 2022, average premiums rose by 6.6% in New York, placing the state 24th nationally on five-year premium growth. The state-level loss ratio averaged 42.7%, meaning insurers retained a healthy margin after claims, typical of stable markets. Nonrenewal rates — the share of policies insurers decline to extend at expiration — averaged 0.59%, a decline of 7.2% over the study period (ranking 48th out of 50 states).

Within New York, premium dispersion across ZIP codes is substantial: the most expensive ZIP (11962 in Sagaponack) charges 3079% more than the least expensive (14884 in Swain), reflecting local differences in catastrophe exposure, construction costs, and claims history. The FIO dataset aggregates voluntary reporting from the 40 largest homeowners insurers covering roughly 80% of the U.S. market, so ZIP-level figures represent market averages rather than individual quotes; actual premiums vary with dwelling value, deductible, coverage limits, and insurer-specific underwriting. This page is for educational research only and is not insurance advice — homeowners should obtain quotes from multiple licensed carriers or an independent agent before purchasing or renewing coverage.

Loss Ratio Reading: New York

0%150%43%

New York statewide — FIO 2018-2022 average: 43% (Insurer-favorable) — low claim payout — insurer retains a healthy margin.

ZIP Codes Tracked

1,530

Reporting Period

2018-2022

Source

U.S. Treasury FIO

Premium Trends (2018-2022)

Year Avg Premium Median Premium
2018 $1,779 $1,180
2019 $1,792 (+0.8%) $1,203
2020 $1,812 (+1.1%) $1,210
2021 $1,852 (+2.2%) $1,215
2022 $1,896 (+2.4%) $1,217

Average Premium by Year

$1,779
2018
$1,792
2019
$1,812
2020
$1,852
2021
$1,896
2022

All ZIP Codes in New York

1,530 ZIP codes sorted by premium (highest first). Click column headers to sort.

ZIP City Premium
11962 Sagaponack $22,974
11976 Water Mill $19,340
10021 New York $18,597
11932 Bridgehampton $17,929
10014 New York $16,786
10128 New York $15,848
10075 New York $15,663
06390 Fishers Island $15,382
10065 New York $15,332
11975 Wainscott $14,865
10011 New York $14,334
11765 Mill Neck $14,308
10028 New York $14,005
10024 New York $13,159
11968 Southampton $13,022
11959 Quogue $12,363
11568 Old Westbury $11,594
11201 Brooklyn $11,552
11930 Amagansett $11,141
10013 New York $11,047
10023 New York $10,860
10003 New York $10,527
10025 New York $10,332
10022 New York $10,288
11559 Lawrence $9,866
11937 East Hampton $9,774
11978 Westhampton Beach $9,722
10012 New York $9,669
10017 New York $9,473
10016 New York $9,321
10577 Purchase $8,678
11963 Sag Harbor $8,413
11960 Remsenburg $8,372
11964 Shelter Island $8,055
11965 Shelter Island Heights $7,910
10031 New York $7,758
11024 Great Neck $7,538
10597 Waccabuc $7,494
11957 Orient $7,386
10030 New York $7,378
11977 Westhampton $7,375
11509 Atlantic Beach $7,106
11217 Brooklyn $7,064
11954 Montauk $7,034
10029 New York $6,679
10027 New York $6,544
10026 New York $6,518
10580 Rye $6,480
11231 Brooklyn $6,354
10506 Bedford $6,272

Frequently Asked Questions

What is the average homeowners insurance cost in New York?
The average homeowners insurance premium in New York is $1,896 per year, based on U.S. Treasury FIO data covering 1,530 ZIP codes. This is 7% above the national average of $1,776.
How have insurance premiums changed in New York?
New York homeowners insurance premiums changed by +6.6% between 2018 and 2022. The average loss ratio is 42.7%, meaning insurers pay out that percentage of earned premiums in claims.
Which ZIP code has the most expensive insurance in New York?
The most expensive ZIP code for homeowners insurance in New York is 11962, with an average premium of $22,974/yr. The most affordable is 14884 at $723/yr.
What is the nonrenewal rate for New York homeowners insurance?
The average nonrenewal rate in New York is 0.59%. This rate has changed by -7.2% from 2018 to 2022. Nonrenewals occur when an insurer declines to renew an existing policy at expiration. ZIP 10003 has the highest nonrenewal rate in the state at 4.10%.
What is a loss ratio and what does New York's mean?
A loss ratio measures how much an insurer pays out in claims compared to premiums collected. New York's average loss ratio is 42.7%. Ratios above 100% indicate insurers are paying more in claims than they collect, which often leads to premium increases.
How often do homeowners file insurance claims in New York?
The average claim frequency in New York is 3.36%, meaning that percentage of policies result in a claim each year. The average claim severity (cost per claim) is $22,350. Higher claim frequency and severity typically correlate with higher premiums.

Source: U.S. Department of the Treasury, Federal Insurance Office (FIO) Homeowners Insurance Data (2018-2022). Premiums are ZIP-level averages and may not reflect individual policy costs U.S. Department of the Treasury, Federal Insurance Office (FIO) Homeowners Insurance Data (2018-2022). Premiums are ZIP-level averages and may not reflect individual policy costs

Related

Data sourced from official U.S. government datasets. See our methodology for details. Retrieved and formatted by PlainInsure Editorial

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