The average annual cost of insurance for homeowners in Buffalo, New York, is $1,285 for $300,000 in dwelling coverage with a $1,000 deductible — much lower than the national average of $2,584.

Unlike many areas with a high risk of extreme weather events, Buffalo has been recognized as a potential climate “haven” due to its relative lack of natural hazards.1 This may help explain why its average cost of home insurance is lower than the state average of $2,124.

Here’s what you need to know about finding home insurance in Buffalo, New York.

Best home insurance companies in Buffalo

Homeowners in Buffalo have a variety of quality insurance companies to choose from. The best home insurance company for you will depend on your specific needs and budget. Here are the three top home insurance companies in Buffalo to help get your search started.

Best company for cheap rates: Ocean Harbor Casualty

Best company for customer satisfaction: State Farm

Best company for claims satisfaction: Nationwide

Cheapest home insurance companies in Buffalo

Ocean Harbor Casualty offers the cheapest rates in Buffalo, with an annual average cost of $526 for $300,000 in dwelling coverage with a $1,000 deductible. The following table highlights the home insurance companies in Buffalo with the cheapest premiums.

How much is home insurance in Buffalo?

The average annual cost of home insurance in Buffalo, New York, is $1,285 for $300,000 in dwelling coverage with a $1,000 deductible. If you choose a $500 deductible, the average rate increases to $1,323 per year.

Rates can vary based on factors including your ZIP code, age of your home, the building materials used for your home, your credit information, the type of homeowners coverage you choose, and your deductible.2

Cost of home insurance by dwelling coverage in New York

How much dwelling coverage you need also affects the cost of your home insurance premiums. Generally, a higher coverage will result in a higher premium. Lower amounts of coverage will result in lower premiums.

The following table highlights the average annual premium for different coverage limits in New York.

Cost of homeowners insurance by deductible amount

Your deductible is the amount you have to pay out of pocket before your insurance takes over after filing a claim. Having a higher deductible generally results in lower premiums. A lower deductible results in higher premiums, as you can see in the table below.

Average cost of home insurance in other cities in New York

Different cities and even different ZIP codes within a city can yield varying home insurance quotes. This occurs because of different crime rates, proximity to emergency services, or because certain areas are exposed to risky weather events. 

For instance, New York City homeowners tend to pay higher premiums than Buffalo homeowners due to higher property values, hurricane risk, and crime rates.

The following table highlights the average annual premiums for different cities in New York.

What to know about owning a home in Buffalo

If you own a home in Buffalo, it’s important to consider the risks in your area and get the proper coverage. Fortunately, due to its lack of natural disasters, Buffalo has been labeled as a potential climate “haven.” This means homeowners don’t have to worry about as many weather-related risks as some other states. But lead poisoning is a known issue for many Buffalo homeowners.

Every year, hundreds of kids younger than 6 years old are diagnosed with high levels of lead in their blood in Erie County. If your home was built before 1978, you should assume it has lead in its paint. Until 1978, lead was used to paint many of the homes in Buffalo. Chipping or peeling of lead paint can lead to unsafe levels in the house.3

Unfortunately, most home insurance policies exclude coverage for lead poisoning, so it’s up to homeowners to remove lead. But lawmakers have put forward legislation to try to change this.4