We studied renters insurance rates for a sample policy that included $30,000 in coverage in 64 cities in the state of New York in order to determine which cities had the highest and best annual renters insurance costs. Based on our study, New York renters pay on average $175 per year for their renters insurance. Renters insurance prices in New York vary by 49% between the cities in our study. Below, we profile the most and least expensive cities in New York for renters insurance. Read more about our findings, or use our quote tool above to find renters insurance quotes in your area.
- Cheapest Renters Insurance Companies in New York
- Top 5 Least Expensive Cities for Renters Insurance In New York
- Top 5 Most Expensive Cities for Renters Insurance in New York
Cheapest Renters Insurance Companies in New York
We collected quotes for our sample residence across 64 cities from State Farm, Allstate, Liberty Mutual and Farmers. Quotes from each company were averaged to find which insurance companies had the cheapest renters insurance rates in New York. The graph below shows the average annual costs to insure our sample residence by company alongside the state average:
Top 5 Least Expensive Cities for Renters Insurance in New York
1. Oneida, NY
Oneida is a small city in New York located approximately 32 miles east of Syracuse. The city of Oneida has been designated as a Tree City USA community by the Arbor Day Foundation. The special designation is earned by meeting certain standards that show a commitment to local forestry management.
Residents of Oneida pay an average annual renters insurance rate of $158, which is 10% less than the state average. Based on our study, Oneida ranks as the most affordable city for renters insurance in the state. Between the insurance companies in our study, we found that annual renters insurance costs in Oneida varied by $96.
2. Fulton, NY
Fulton is a city in New York of just over 10,000 people. Oswego River runs through the middle of the city from north to south. Recently, the city submitted an application to New York state for grant money in order to revitalize the downtown area. The grant application cited plans to focus development efforts around Oswego River.
The city boasts the second most affordable renters insurance rates in the state. Our research found that the average annual cost for renters insurance in Fulton was $159, which is 9% less than the state average. State Farm offered the most affordable quotes by a margin of $18. Allstate was the only insurance company that quoted annual renters insurance costs of more than $200.
3. Auburn, NY
Auburn is located between Syracuse and Rochester. The city is well known as the resting place of Harriet Tubman. In fact, Harriet Tubman purchased a home in the city of Auburn in the the mid-1800s. Today, the home is open for visitors to tour.
Auburn is the third best city for renters insurance in the state of New York. On average, residents of Auburn pay $160 per year for their renters insurance, which represents a rate that is $15 less than the state average. State Farm and Liberty Mutual offered renters insurance rates that were within $14 of each other. Similar to other cheap cities for renters insurance, Allstate offered the most expensive quote at an annual cost of $219.
4. Elmira, NY
The city of Elmira was established in 1864, which makes it over 150 years old. Recently, the city was awarded with a $10 million award to be used on the downtown area. The city plans to use the award to strengthen its retail and housing options. Much like Fulton, Elmira plans to focus revitalization efforts around the river that runs through the city.
Elmira ranks as the fourth most affordable city for renters insurance in New York. The average annual renters insurance rate in the city is $160, which is 8% less than the state average. We recommend comparing quotes from State Farm and Liberty Mutual as they offered quotes within $13 of each other. Allstate offered the most expensive quote from the insurance companies we sampled at an annual cost of $219, which is $63 greater than the next highest quote offered by Farmers.
5. Dunkirk, NY
Dunkirk is located along the coast of Lake Erie and near the U.S.-Canada border. The city rose to prominence due to it being a stop along frequently traveled railroad tracks. The city’s economy was initially steel based, but today it is mostly known as a tourist destination due to its location alongside Lake Erie.
If you’re looking for cheap renters insurance in Dunkirk, we recommend starting with State Farm, which quoted our sample policy an annual rate of $126. Liberty Mutual and Farmers offered slightly greater rates, but offered quotes within $16 of each other. Based on our study, Dunkirk is the fifth cheapest city for renters insurance in New York.
Top 5 Most Expensive Cities for Renters Insurance in New York
1. New York City, NY
New York City is the largest city in the state and in the country. The city is home to over eight million people. Today, the city encompasses five boroughs: Brooklyn, Queens, Staten Island, the Bronx and Manhattan. However, when the idea was first proposed to unite the boroughs, the measure passed by just 300 votes in Brooklyn.
New York City is ranked as the least affordable city for renters in New York. On average, residents pay $236 per year for renters insurance, which is 35% greater than the state average. The most affordable rate was offered by State Farm at an annual cost of $125. Allstate offered an annual rate of $390 for renters insurance, which was $265 greater than State Farm’s quote.
2. Newburgh, NY
Newburgh is located approximately 60 miles north of New York City. The city is small, encompassing just 3.8 square miles. Newburgh is home to just one school district, which operates nine elementary schools, three junior high schools, and one high school. Additionally, the city is home to Mount Saint Mary College, a four year private college.
The most affordable renters insurance rate in Newburgh was offered by State Farm at an annual cost of $125. Allstate offered an annual rate of $302, which is more than double the figure that State Farm quoted. Newburgh is the second least affordable city for renters insurance in the state of New York. Residents pay an average annual cost of $196 for renters insurance.
3. White Plains, NY
White Plains is a city located approximately 30 miles north of Midtown Manhattan. The city is located within driving distance of several major airports, including LaGuardia and Newark. White Plains’ downtown area has recently grown and features more than 3,000 unit of residential housing.
Based on our research, annual renters insurance quotes in White Plains vary by $135. White Plains ranks as the third most expensive city for renters insurance in New York. On average, residents pay $194 per year, which is 11% greater than the state mean. The least affordable insurance company, Allstate, offered a rate of $260. State Farm offered the cheapest rate for our sample policy at an annual cost of $125.
4. Buffalo, NY
Buffalo, the second largest city in New York, is located near the state’s northern border. The city serves as a popular tourist destination due to its proximity to Niagara Falls. The three waterfalls that make up Niagara Falls are responsible for water flow that exceeds 3,000 tons per second. Niagara Falls is approximately a 30 minute drive from downtown Buffalo.
Based on our study, Buffalo ranks as the fourth most expensive city for renters insurance in the state. On average, Buffalo residents pay $194 per year for renters insurance, which is 11% greater than the state average. Renters insurance rates within Buffalo vary by $137.
5. Albany, NY
Albany serves as the capital for New York. The city’s growth in the 1900s is primarily attributed to its ability to become a major transportation center. Its central location made it ideal for manufacturers and business owners alike. Today, Albany is the state’s sixth largest city.
State Farm quoted the least expensive renters insurance rate in Albany at $125 per year, which is $197 less than Allstate’s quote of $322. Based on our study, Allstate is the least affordable insurance company in the city. The city of Albany ranks as the fifth worst for renters insurance rates in New York. Residents pay 11% more for renters insurance when compared to the state mean.
We studied 64 cities, spread out geographically throughout the state of New York. The sample renters insurance policy we gathered quotes for included $30,000 of coverage. Quotes were obtained from State Farm, Farmers, Allstate, Liberty Mutual and Farmers insurance companies. The rates were then average to arrive at a mean for each city. We’ve displayed all cities with the average annual cost of insurance for our benchmark policy and how much each city costs relative to the statewide average.
|Rank||City||Average Insurance Rate||Cost Compared to Average|
|64||New York City||236||35%|