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Licensed property and casualty insurance agent
NPN: 21630969
Updated
Long Island residents tend to face higher insurance premiums because of the area’s high property values and coastal location. On average, homeowners pay $113 per month for a $300,000 dwelling coverage policy, but rates vary significantly between towns and insurers.
That’s why it’s important to compare multiple insurance quotes when shopping around. Our data shows that Travelers offers the cheapest home insurance rates in Long Island, at $71 per month.
But the cheapest insurance may not always be the best coverage for your home. Here’s a closer look at what you need to know about homeowners insurance in Long Island, including factors that affect your rates and tips to find the lowest rates.
Erie, Chubb, and Travelers are some of the best insurers for Long Island homeowners.
The best Long Island homeowners insurance is a policy that fits your budget while having enough coverage to protect your home.
Standard home insurance policies don’t usually include flood damage, so you may need to buy separate flood insurance if you live in an area where flooding is common.
The right insurance company for your Long Island varies based on your situation. But some insurers offer better value to Long Island homeowners than others.
The table below shows the best home insurance companies in Long Island based on our data. To make our picks, we looked at average rates, available discounts, customer ratings and reviews, and coverage options.
Company | Compare.com Rating | Average Monthly Premium |
|---|---|---|
| Erie | 4.50 | $283 |
| Chubb | 4.19 | $308 |
| Travelers | 3.99 | $209 |
| New York Central Mutual | N/A | N/A |
| Amica Mutual | 4.78 | $132 |
Erie Insurance offers New York homeowners a range of coverage options and excellent customer service, which makes it a great choice for first-time homeowners. You can manage your policy from the company’s highly rated mobile app, and you can bundle your coverage with its car insurance and life insurance to save on rates.
Above-average J.D. Power customer satisfaction rating
Customizable coverage options
Agent needed for quote
Poor Trustpilot rating
Chubb is best known for working with high-net-worth homeowners living in high-value homes. It offers high coverage limits and responsive customer support. When you work with the company, a trained risk consultant will help you assess risks associated with your home. You can also tap into its HomeScan program, which may help you detect hidden problems early.
Customizable coverage for high-value properties
Above-average J.D. Power customer satisfaction rating
Poor Trustpilot rating
Agent required for quote
Travelers offers relatively affordable insurance and also stands out for its extensive coverage for older homes. If you own an older home, the company’s additional replacement cost coverage offers higher policy limits that help cover repair or replacement costs.
Many agents on Long Island
Coverage available for older homes
Below-average J.D. Power customer satisfaction rating
Poor Trustpilot rating
Insures high-risk homes
Excellent financial strength rating
Mixed customer reviews
Agent required for a quote
New York Central Mutual is a regional insurance company that works with homeowners across the Empire State, including on Long Island. Although it doesn’t offer private flood insurance, it offers coverage for many high-risk coastal homes located in flood zones.
And with several unique discounts, including a work-from-home and green discount, you might qualify for some savings on your rate.
Amica Mutual offers a wide range of coverage options you can customize for your Long Island home. It’s also known for its strong customer service and dividend policies, a unique type of homeowners insurance that returns a portion of your premium if you don’t file a claim.
Top-tier customer satisfaction ratings
Dividend policies available
May not be the cheapest insurer
Limited discount opportunities
Every insurance company looks at risk differently and has its own way of calculating premiums, which means rates can vary significantly from one company to the next. The best way to find the cheapest rates is by shopping around and comparing quotes.
Check out the table below to see the cheapest home insurance companies in Long Island for $300,000 of dwelling coverage, based on Compare.com data.
Company | Average Monthly Premium |
|---|---|
| Travelers | $71 |
| Preferred Mutual | $74 |
| Sterling Insurance | $80 |
| State Farm | $108 |
| Unitrin | $108 |
| Allstate | $114 |
| Nationwide | $117 |
| National General | $126 |
| Chubb | $141 |
| AIG | $145 |
| Encompass | $159 |
| Hanover | $159 |
| Farmers | $226 |
Compare partners with top insurers for real-time quotes.
The exact amount you’ll pay for homeowners insurance on Long Island varies based on your situation. In general, a higher home value means higher home insurance premiums, since replacing a $500,000 home costs significantly more than rebuilding a $200,000 home.
Here are the average home insurance rates on Long Island for different dwelling coverage amounts, based on our data.
Company | Average Monthly Premium |
|---|---|
| Preferred Mutual | $50 |
| Travelers | $50 |
| Sterling Insurance | $53 |
| State Farm | $69 |
| Allstate | $75 |
| Unitrin | $78 |
| National General | $83 |
| Nationwide | $83 |
| Chubb | $96 |
| Hanover | $104 |
| AIG | $114 |
| Encompass | $121 |
| Farmers | $164 |
Company | Average Monthly Premium |
|---|---|
| Travelers | $71 |
| Preferred Mutual | $74 |
| Sterling Insurance | $80 |
| State Farm | $108 |
| Unitrin | $108 |
| Allstate | $114 |
| Nationwide | $117 |
| National General | $126 |
| Chubb | $141 |
| AIG | $145 |
| Encompass | $159 |
| Hanover | $159 |
| Farmers | $226 |
Company | Average Monthly Premium |
|---|---|
| Travelers | $96 |
| Preferred Mutual | $101 |
| Sterling Insurance | $106 |
| Unitrin | $135 |
| Allstate | $148 |
| Nationwide | $150 |
| State Farm | $151 |
| National General | $174 |
| Chubb | $185 |
| AIG | $190 |
| Encompass | $195 |
| Hanover | $209 |
| Farmers | $299 |
Company | Average Monthly Premium |
|---|---|
| Travelers | $122 |
| Preferred Mutual | $128 |
| Sterling Insurance | $131 |
| Unitrin | $160 |
| Allstate | $183 |
| Nationwide | $190 |
| State Farm | $194 |
| Encompass | $227 |
| AIG | $229 |
| Chubb | $231 |
| National General | $234 |
| Hanover | $256 |
| Farmers | $384 |
Company | Average Monthly Premium |
|---|---|
| Sterling Insurance | $186 |
| Travelers | $190 |
| Preferred Mutual | $199 |
| Unitrin | $238 |
| Allstate | $261 |
| Nationwide | $288 |
| State Farm | $305 |
| Encompass | $308 |
| AIG | $323 |
| Chubb | $345 |
| National General | $360 |
| Hanover | $361 |
| Farmers | $531 |
Most Long Island homeowners face relatively high insurance premiums. Some of the most common factors driving up your insurance costs include:
High property values: When insuring high-value properties, insurance companies tend to charge higher insurance premiums.
Proximity to the ocean: Seaside views are beautiful, but a home near the coastline comes with increased weather risks, including storms and flooding threats. This tends to push insurance costs higher.
Older homes: Historic homes Long Island homes come with increased financial risks for insurers, like a higher likelihood of fire or plumbing failures. Insurers may charge more to cover repair and replacement costs.
The New York State Department of Financial Services regulates insurance companies in the Empire State. As a homeowner, you can lean on the resources this department puts out about insurers and insurance needs in the state. Additionally, you can report anything that’s not above board about your insurance company.
You can get in touch by calling 1 (800) 342-3736 or emailing [email protected].
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When you buy a home insurance policy for your Long Island home, a standard policy will typically cover the following:[1]
Dwelling coverage: This part of the policy helps pay to repair or rebuild your home after a covered loss, such as a damaging nor’easter.
Personal property coverage: If a covered event damages your personal belongings, like clothes or furniture, your insurer can help you pay to replace them.
Personal liability coverage: Standard home insurance includes liability coverage that can protect you against lawsuits for injuries or property damage caused to others.
Additional living expenses: If you can’t live in your home after a covered disaster, this coverage helps pay for expenses like hotel stays and meals during repairs.
Home insurance offers coverage for a broad range of needs, but it doesn’t cover everything that can happen to your Long Island home. Here’s a look at what a standard home insurance policy typically doesn’t cover:[2]
Flooding: Standard home insurance policies don’t cover flooding. If you want financial protection against flood damage, you’ll need to purchase a separate policy.
Maintenance: Home insurance policies don’t cover maintenance issues or normal wear and tear. For example, if your aging roof is in need of repair, you’ll need to pay for that without the help of an insurer.
High-end valuables: Although an insurer may help you replace some of your personal belongings, policy limits might not be high enough to cover your valuables, so you may need to buy more coverage or a separate umbrella policy for high-value belongings, like artwork or jewelry.
Find the best policy for your Long Island home.
Standard homeowners policies typically don’t cover flood damage. Instead, you’ll need to purchase a separate flood insurance policy.
You can buy flood insurance through the National Flood Insurance Program (NFIP) or a private insurer, but private insurers usually offer higher coverage limits.[3]
Insurance companies take many factors into account when determining home insurance premiums on Long Island, including your home and coverage options. Here are the biggest factors affecting Long Island home insurance rates:[4]
The home itself: The details of your home can affect your insurance rates significantly. Insurers consider square footage, age, and roof condition. Properties with outdated systems, like electrical and plumbing, and older homes usually have higher rates.
Your location: Insurers carefully consider your home’s location, including its proximity to the coast and distance to the nearest fire station. Neighborhood crime rates also affect rates.
How you structure your policy: The coverage options, add-on endorsements, and deductible you choose can raise or lower your rates.
Your background: Insurance companies may consider your credit and claims history when determining your Long Island homeowners rates.
Available discounts: Many insurers offer discounts, which could help you lower your insurance costs. For example, bundling multiple policies, like home insurance with auto insurance and life insurance, usually leads to lower rates.
If you still have questions about Long Island home insurance policies, check out the additional information below.
Long Island homeowners pay an average of $113 per month for a home insurance policy, according to Compare.com data. But exact rates depend on factors like your location, coverage options, and policy limits.
The best home insurance company varies based on your situation. But for many Long Island homeowners, Erie, Chubb, and Travelers are our top picks.
The cheapest insurer in Long Island is Travelers, with an average monthly premium of $71 for a $300,000 home, according to Compare.com data. But the cheapest company for you depends on various factors, like your home’s age and location.
State law doesn’t require New York homeowners to carry insurance. But if you have a mortgage, your lender will likely require you to buy a home insurance policy with a minimum amount of coverage.
New York homeowners pay an average of $113 per month for a home insurance policy with $300,000 in dwelling coverage, according to Compare.com data. But exact rates for homeowners insurance in the Empire State depend on factors like your ZIP code, claims history, and the home itself.
The exact amount of home insurance coverage you need varies based on your situation. But you’ll generally want enough coverage to pay for rebuilding costs after a destructive event and protect your assets against liabilities.
Compare.com data scientists analyzed rates from more than 180 home insurance companies sourced directly from Compare.com’s partner companies and Quadrant Information Services. Rates span all 50 states and Washington, D.C., and quote averages represent the mean price for a given coverage level and geographic area. To ensure data reliability, only insurers meeting minimum quote thresholds were included in the analysis.
Unless otherwise specified, quoted rates reflect the average cost for homeowners with no prior claims and good credit with a home construction year of 1980. The default coverage assumptions include:
Additional data points beyond these default values are sourced from Compare.com’s proprietary database. Rates are updated monthly.
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Licensed property and casualty insurance agent
NPN: 21630969
At Compare.com, it’s our mission to give you the tools to find the best (and most affordable) insurance for your unique needs and budget. We strive to provide information that’s helpful, clear, and unbiased, and we believe that comparing insurance companies should never put you at risk of spam. Our editorial team — which is made up of experienced writers, editors, insurance agents, and data analysts — has spent thousands of hours researching and creating the coverage overviews, side-by-side comparisons, and detailed reviews you see across our site.
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