5 Best Albany Homeowners Insurance Companies (2025)
Allstate, State Farm, and Travelers offer some of the best homeowners insurance policies in Albany, New York.
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Known for its historic architecture and deep Dutch roots, Albany is one of the more affordable cities in New York.[?]
Homeowners in Albany pay an average of $1,164 per year, or $97 per month, for $300,000 in dwelling coverage with a $1,000 deductible — less than both the state and national averages.
But since the area has a moderate risk of flooding and experiences harsh winters and heavy snowfall, it’s crucial to compare home insurance companies to ensure your Albany home has adequate coverage.
Quick Facts
Albany’s annual snowfall averaged 59 inches over a recent 30-year period.
Nearly half of the homes in Albany are at least 75 years old.
Some Albany homes along the Hudson River are within Federal Emergency Management Agency (FEMA) flood zones.
Best home insurance companies in Albany
Many quality insurance companies serve homeowners in Albany, and the right one for you depends on your situation and needs. We looked at multiple companies and compared coverage options, rates, discounts, and customer service ratings to find some of the best homeowners insurance companies in Albany.
Allstate: Best for older homes
State Farm: Best for winter weather
NYCM: Best for budget-conscious homeowners
Although the cost of living in Albany is lower than in other New York cities, home insurance premiums can still add up. NYCM Insurance, a regional insurer based in Edmeston, offers some of the state’s lowest average home insurance rates.
Although the company has a limited online presence, it’s Better Business Bureau (BBB) accredited and has an A+ rating. Several online reviews express satisfaction with NYCM, but those reviews are dated. More recent reviews report poor experiences with customer service and the claims process.
Pros
Affordable premiums with several available discounts
AM Best financial strength rating of A (Excellent)
24/7 customer service
Cons
Poor customer reviews
Fewer policy offerings than larger insurers
Mobile app has fewer reviews and lower ratings than competitors
Travelers: Best for homes in flood-prone areas
Chubb: Best for high-value homes
Our editorial team analyzed regional and national home insurance companies that sell policies in Albany to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.
How much is home insurance in Albany?
A home insurance policy in Albany for $300,000 in dwelling coverage can range in cost between $1,253 per year with a $500 deductible and $1,139 per year with a $1,000 deductible.
Several factors affect your rate, including:[?]
Location
Home value
Property age and condition
Claims and insurance history
Coverage limits
Deductibles
Your credit history
Albany’s average annual home insurance costs are slightly less than the state average of $1,248 for $300,000 in coverage with a $1,000 deductible.
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Cheapest home insurance companies in Albany
Insurance rates can vary widely, even between ZIP codes. The easiest way to find the cheapest home insurance companies is to compare quotes from several insurers.
The following home insurers are among the most affordable in Albany based on Insurify data:
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company  | Average Annual Premium |
|---|---|
| Travelers | $516 |
| Preferred Mutual | $528 |
| Sterling Insurance | $588 |
| State Farm | $720 |
| Unitrin | $744 |
| Allstate | $780 |
| National General | $840 |
| Chubb | $972 |
| Nationwide | $1,032 |
| Hanover | $1,080 |
| Encompass | $1,188 |
| AIG | $1,260 |
| Farmers | $1,740 |
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company | Average Annual Premium |
|---|---|
| Travelers | $1,236 |
| Preferred Mutual | $1,284 |
| Sterling Insurance | $1,452 |
| Unitrin | $1,608 |
| Allstate | $1,776 |
| State Farm | $1,992 |
| Encompass | $2,196 |
| Nationwide | $2,340 |
| Chubb | $2,352 |
| National General | $2,472 |
| AIG | $2,544 |
| Hanover | $2,700 |
| Farmers | $4,032 |
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
Insurance Company | Average Annual Premium |
|---|---|
| Travelers | $1,980 |
| Preferred Mutual | $2,004 |
| Sterling Insurance | $2,076 |
| Allstate | $2,220 |
| Unitrin | $2,412 |
| Encompass | $2,940 |
| State Farm | $3,144 |
| Chubb | $3,468 |
| Nationwide | $3,492 |
| AIG | $3,564 |
| National General | $3,780 |
| Hanover | $3,792 |
| Farmers | $5,520 |
How much homeowners insurance do you need in Albany?
To determine how much coverage you need, check what a standard home insurance policy covers. In Albany — where aging homes, freezing temperatures, and windstorms are common — it’s important to ensure your policy fully protects your home’s structure, your belongings, and your liability.
Dwelling coverage: Your dwelling coverage amount should equal your home’s full replacement cost, or what it would cost to rebuild completely.[?] Many of Albany’s homes are at least 75 years old, which means they may include materials or architectural details that are expensive to reproduce. Some insurers may limit replacement cost coverage unless the home is well-maintained.[?]
Personal property coverage: Personal property coverage typically ranges from 50% to 70% of your policy’s dwelling limit, covering belongings like your furniture, clothes, and electronics. Creating a home inventory — especially for high-value items like antiques or jewelry — can help you determine if you need additional protection.
Liability coverage: Personal liability insurance helps cover medical bills and legal expenses if someone gets hurt in your home or you damage someone’s property. Policies typically include a minimum of $100,000 in liability coverage, but insurance experts often recommend higher limits to better protect your assets.[?]
Additional living expenses coverage: Loss of use coverage pays for temporary living expenses, like hotel stays or meals, if your home becomes uninhabitable after a covered event. Discuss your policy options with a licensed insurance agent to ensure you have enough coverage.
What to know about home insurance in Albany, NY
Albany is the second-oldest chartered city in the U.S. and home to many historic neighborhoods filled with century-old houses. These homes offer plenty of charm, but they can drive up insurance premiums due to higher property values. Older structures may also require specialized materials or code updates if damaged, which can increase replacement costs.
Winter is another concern for Albany homeowners. The city receives an average of nearly 60 inches of snow each year, with freezing temperatures that can lead to burst pipes, roof collapses, and ice dams.
Most homeowners insurance policy types cover these perils. But following basic home maintenance tips, like keeping the heat on in your home and clearing your gutters, can prevent denied claims.
Flooding may also be a consideration in Albany, especially for properties near the Hudson River, which FEMA identifies as a higher-risk area. As climate change causes more heavy rainfalls, the Albany County Department of Climate and Health warns of a greater risk of flooding in the future.
Since homeowners insurance policies don’t cover flood damage, you may want to consider a separate flood policy.[?] You can purchase this coverage through the NFIP or from some private insurers.
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Average cost of home insurance in other cities in New York
Home insurance premiums can vary between New York cities and even different ZIP codes. Rates often reflect local risks. For example, homes in areas with higher crime rates may cost more to insure, while a neighborhood close to a fire station may have lower rates.
The table below lists the average cost of home insurance in several other New York cities:
The below rates are estimated rates current as of: Monday, October 6 at 5:00 PM PDT.
City | Average Annual Premium: With $300,000 in Dwelling Coverage |
|---|---|
| Rochester | $1,044 |
| Syracuse | $1,080 |
| Buffalo | $1,152 |
| Albany | $1,164 |
| Kiryas Joel | $1,200 |
| New York | $1,968 |
Albany homeowners insurance FAQs
The answers below to frequently asked questions can provide additional information about homeowners insurance in Albany, NY.
Home insurance in Albany costs an average of $97 per month for $300,000 in dwelling coverage with a $1,000 deductible, Insurify data shows. Your rate may be higher if you need additional coverage, like flood insurance or building-code protection for an older home.
Premiums depend on a number of factors, including location and coverage preferences, but Travelers offers the cheapest homeowners insurance rates in Albany.
The best home insurance company depends on your insurance needs. But based on what many homeowners in Albany may need, some of the top homeowners insurance companies in Albany include Allstate, State Farm, NYCM, Travelers, and Chubb.
Yes. Your credit history can affect your home insurance premiums. Having a good credit history typically results in a higher credit-based insurance score, which can mean lower insurance premiums.
In Albany, the average homeowners insurance premium for a policy with $500,000 in dwelling coverage and a $1,000 deductible is $1,872 per year. Your particular rate depends on your location, your home’s features, and your coverage preferences.
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