The Albany area experiences all of the elements, but it’s far enough from the coast that it doesn’t see hurricane-force winds and far enough south where it doesn’t experience the same level of snowfall or frigid temperatures as some of the northern-most cities in the state. Even so, Albany residents will want to make sure their home is protected with homeowners insurance coverage.
Here are our picks for the best homeowners insurance companies in Albany, NY.
Compare the best cheap homeowners insurance companies in Albany
Based on our findings, NYCM Insurance, State Farm, Farmers, Allstate, and Travelers are the best homeowners insurance companies in Albany.
To find the best cheap homeowners insurance in Albany, we reviewed over a dozen of the largest insurance companies in New York and chose the five with the highest overall Policygenius rating.
Our ratings are based on each company's financial strength and customer service ratings, the number and quality of available coverage, and average policy premiums in 15 Albany ZIP codes.
Company | Average monthly cost | Policygenius rating | |
|---|---|---|---|
$59 | 5 out of 5 | ||
$81 | 4.8 out of 5 | ||
$94 | 4.5 out of 5 | ||
$96 | 4.4 out of 5 | ||
$77 | 4.4 out of 5 |
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
2024 Policygenius award winner
NYCM Insurance
5.0
Mobile app
Offers flood insurance
Bundle home & auto
New homebuyer discount
Why we chose it
NYCM Insurance packs a punch with better service and more coverage options than the average home insurance policy at a fraction of the price.
Pros and cons
Pros
Average annual rates are $400 cheaper than the state average
Earns 5-star ratings for customer service, financial stability, and coverage options
Valuable policy add-ons, including NFIP and excess flood insurance, water backup protection, equipment breakdown coverage, and more
Cons
No online quotes — must contact a local NYCM agent
More details
Why we chose NYCM
NYCM has offered affordable home insurance in New York for more than 100 years. We found that NYCM tends to have some of the best rates for homeowners insurance not only in Albany but throughout the entire state — plus a range of discounts.
NYCM also has an impressive list of coverage options. You can increase your home's protection by adding guaranteed and extended replacement cost coverage, water backup, equipment breakdown, flood insurance through the NFIP, and more.
How much does NYCM home insurance cost?
The average cost of NYCM home insurance in Albany is $702 per year or $59 a month. That's 32% cheaper than the citywide average of $1,025 per year.
How to get a quote
Online through NYCM
2024 Policygenius award winner
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
Offers flood insurance
Offers earthquake insurance
Wind/hail deductible
Offers wildfire insurance
Why we chose it
State Farm home insurance is one of the best home insurance companies in Albany thanks to its large selection of policy options for most home types, high customer service marks, and industry-best financial stability ratings.
Pros and cons
Pros
High customer satisfaction and financial strength ratings
Top-tier coverage add-ons, including extended replacement cost coverage
Offers large discounts when you bundle your home and auto insurance
Cons
20% more complaints filed with the NAIC than other companies of its size
No discounts for first-time homebuyers
More details
Why we chose State Farm
State Farm offers its relatively affordable and highly rated home insurance to homeowners in Albany. We also like State Farm's robust coverage and that it offers flood protection.
Plus, while many competitors don't have the financial strength to pay out claims after multiple natural disasters in the same year, State Farm isn't one of them. It earns the highest rating possible from AM Best for financial strength and stability — only six insurance companies out of nearly 70 we reviewed hold this title.
How much does State Farm home insurance cost?
The average cost of State Farm home insurance in Albany is $966 per year or $81 a month. That's 6% cheaper than the citywide average of $1,025 per year.
How to get a quote
Online through State Farm
2024 Policygenius award winner
Farmers
4.5
Offers extended replacement cost
Bundle home & auto
Smart home discounts
Why we chose it
Along with saving around 20% when you bundle your home and car insurance, Farmers also gives you access to its extensive suite of discounts, unique policy credits, and claim-free incentives that help put money back in your pocket.
Pros and cons
Pros
12+ discounts to save on rates
Optional extended or guaranteed replacement cost dwelling coverage
Shave $50 off your deductible each year you’re with Farmers
Cons
Below-average scores on J.D. Power’s overall customer satisfaction and digital experience surveys
More details
Why we chose Farmers
Depending on where you live, you could save up to 45% on your auto insurance and up to 34% on your home insurance when you bundle policies with Farmers, according to the company website.
Even more, Farmers has up to 16 additional discounts and money-saving policy perks. For context, Farmers competitors offer an average of around seven discounts total.
How do Farmers home insurance rates compare to the average in Albany?
The average cost of Farmers home insurance in Albany is $1,131 per year, which is 10% more expensive than the average annual premium in Albany of $1,025.
How to get a quote
Online through Farmers
2024 Policygenius award winner
Allstate
4.5
Bundle home & auto
Smart home discounts
Why we chose it
Whether you’re looking for basic or comprehensive home insurance coverage, Allstate is a standout option. And homeowners who rent their home on Airbnb will like Allstate's short-term rental coverage that can easily be added to any policy.
Pros and cons
Pros
Offers HostAdvantage — an excellent short-term rental coverage add-on that can be seamlessly added to any policy
Extensive list of discounts and policy features to lower your bill and out-of-pocket costs
A+ credit rating with AM Best
Cons
Beginning to pull back coverage in high-risk areas
Customer experience scores with J.D. Power are below the segment average
More details
Why we chose Allstate
If you rent out your property through a short-term rental service like Airbnb and a guest destroys or steals your property, Allstate’s HostAdvantage will pay up to $10,000 per rental host period to replace or repair your property.
And the best part? This coverage can be seamlessly added onto your policy for just a small additional fee. Only around a third of the nearly 70 home insurance companies we reviewed offer any type of home-sharing coverage, making Allstate a great option for Airbnb hosts who also need home insurance of their own.
How do Allstate home insurance rates compare to the Albany average?
The average cost of an Allstate home insurance policy in Albany is $1,156 per year or $96 a month. This is around 13% more expensive than the citywide average of $1,025 per year.
How to get a quote
Online through Policygenius or Allstate, or by contacting a local Allstate agent.
2024 Policygenius award winner
Travelers
4.4
Bundle home & auto
New homebuyer discount
Mobile app
Offers extended replacement cost
Offers flood insurance
Why we chose it
Travelers offers some of the best homeowners insurance in Albany thanks to industry-best financial ratings and flexible policy options for most home types.
Pros and cons
Pros
Green home coverage and discounts
Offers short-term rental coverage for Airbnb hosts
Doesn’t require prior insurance on the home
Cons
Subpar customer service ratings with J.D. Power
Underwhelming number of available discounts
More details
Why we chose Travelers
Travelers is a reputable home insurance provider that offers comprehensive policy options. One of Travelers's benefits is its willingness to cover risks that other insurance companies won't. These risks include no prior insurance coverage, coverage for short-term rentals, and liability protection for trampoline injuries if its fitted with protective netting.
How do Travelers home insurance rates compare to the Albany average?
The average cost of Travelers home insurance in Albany is $1,025 per year, which is 8% more expensive than the average annual premium in New York of $1,114.
How to get a quote
Online through Policygenius or Travelers
How much is homeowners insurance in Albany?
The average cost of homeowners insurance in Albany is $1,025 per year, or $85 per month, according to our analysis of quoted premiums in every ZIP code in the city.
This makes home insurance in Albany around 8% cheaper than the New York state average of $1,114 per year, and almost 42% less pricey than the national annual average of $1,754.
Albany home insurance rates by ZIP code
Home insurance rates can vary substantially depending on which ZIP code your home is located in, as homes in certain Albany areas may be more prone to vandalism and break-ins than others.
To help you find out how much home insurance costs where you live, we calculated average home insurance rates for the 10 most highly populated ZIP codes in Albany.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
12203 | $1,025 | -8% |
12205 | $1,026 | -8% |
12208 | $1,017 | -9% |
12206 | $1,022 | -8% |
12211 | $1,003 | -10% |
12210 | $1,032 | -7% |
12209 | $1,018 | -9% |
12202 | $1,024 | -8% |
12222 | $1,034 | -7% |
12207 | $1,031 | -7% |
Cheapest ZIP codes for home insurance in Albany
With an average home insurance rate of $1,003 per year, the 12211 ZIP code is the most affordable area for home insurance in Albany.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
12211 | $1,003 | -10% |
12208 | $1,017 | -9% |
12209 | $1,018 | -9% |
12206 | $1,022 | -8% |
12223 | $1,023 | -8% |
12202 | $1,024 | -8% |
12203 | $1,025 | -8% |
Most expensive areas for homeowners insurance in Albany
With an average home insurance rate of $1,034, the 12222 ZIP code is the most expensive area for home insurance in Albany.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
12222 | $1,034 | -7% |
12260 | $1,034 | -7% |
12210 | $1,032 | -7% |
12207 | $1,031 | -7% |
12226 | $1,031 | -7% |
12205 | $1,026 | -8% |
Learn more >> Home insurance rates by ZIP code
Albany home insurance costs by coverage amount
Dwelling coverage is the part of your home insurance that pays for physical damage to the structure of your home in the event of a covered loss. Your dwelling coverage limit should be based on the replacement cost of your home, or the amount it would take to rebuild your house from the ground up — not its market value or purchase price.
As seen in the table below, more dwelling coverage usually means higher home insurance rates.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $492 |
$200,000 | $752 |
$300,000 | $1,025 |
$400,000 | $1,318 |
$500,000 | $1,633 |
Albany home insurance costs by deductible amount
Your home insurance deductible is the amount you’re responsible for paying on each claim before insurance helps cover the remainder of the loss.
As shown in the table below, Albany residents can save around $200 on home insurance per year by choosing a $2,000 deductible over a $500 one.
Deductible | Average annual cost |
|---|---|
$500 | $1,024 |
$1,000 | $899 |
$2,000 | $831 |
Cheapest homeowners insurance companies in Albany
Based on our analysis, NYCM, National General, Kingstone, Travelers, and Nationwide are the five cheapest home insurance companies in Albany, with average citywide premiums ranging from $702 to $955 per year.
State Farm, Farmers, and Preferred Mutual Insurance are also among the most affordable home insurance carrier options for Albany residents in 2023, as detailed in the table below.
Company | Average annual cost |
|---|---|
$702 | |
$729 | |
Kingstone Insurance | $865 |
$923 | |
$955 | |
$966 | |
$1,131 | |
Preferred Mutual Insurance | $1,131 |
$1,156 | |
$1,181 | |
$1,234 | |
$1,475 | |
$1,594 |
Cheapest home insurance in Albany if you have poor credit
A bad credit score does more than just cost you a few dollars in late payment fees — it can also make your auto and home insurance rates thousands of dollars higher.
With an average annual premium of $729, National General has the cheapest home insurance rates in Albany for a homeowner with poor credit, while Farmers' average of $2,175 per year is the most expensive.
Company | Average annual cost |
|---|---|
National General | $729 |
Kingstone Insurance | $1,094 |
Preferred Mutual Insurance | $1,131 |
NYCM Insurance | $1,217 |
Nationwide | $1,320 |
State Farm | $1,439 |
Chubb | $1,475 |
Travelers | $1,506 |
Narragansett Bay | $1,612 |
AIG | $1,655 |
Allstate | $1,898 |
Pure Insurance | $2,049 |
Farmers | $2,175 |
Cheapest home insurance in Albany if you have an older home
Insurance carriers consider older homes to have a higher risk of damage or loss compared to newer homes since they're constructed with older and more difficult to replace materials. Additionally, certain structural components in older homes, like the roof or plumbing systems, may not be up to code.
Looking at average quotes for a 50-year-old home, NYCM Insurance is the cheapest home insurance option for Albany homeowners, while Pure Insurance is the most expensive.
Company | Average annual cost |
|---|---|
NYCM Insurance | $727 |
National General | $740 |
Kingstone Insurance | $848 |
Travelers | $923 |
State Farm | $964 |
Allstate | $1,115 |
Preferred Mutual Insurance | $1,131 |
Nationwide | $1,163 |
Farmers | $1,168 |
Narragansett Bay | $1,196 |
AIG | $1,262 |
Chubb | $1,475 |
Pure Insurance | $1,594 |
Cheapest homeowners insurance in Albany if you have a history of claims
Your claims history is one of the biggest factors insurers will consider when determining home insurance premiums.
If you've file one or multiple claims in the last five years, insurers will likely consider you to be more of a risk for future claims compared to if you had none on your record. And they'll likely charge you higher rates as a result.
According to our analysis, homeowners with three claims within a five-year period will likely find Kingstone Insurance to be their cheapest option, while Farmers is among the priciest.
Company | Average annual cost |
|---|---|
Kingstone Insurance | $848 |
National General | $865 |
State Farm | $1,014 |
Preferred Mutual Insurance | $1,131 |
Narragansett Bay | $1,181 |
NYCM Insurance | $1,202 |
Allstate | $1,437 |
Nationwide | $1,437 |
Travelers | $1,564 |
Pure Insurance | $2,027 |
AIG | $2,078 |
Chubb | $2,222 |
Farmers | $2,931 |
Coverage options in Albany
When you're looking for home insurance in Albany, you should be aware of what your policy will and won't cover.
In Albany, you may need to consider additional coverage when buying homeowners insurance to protect against possible flooding, especially if you're in a low-lying part of the city.
Flood insurance
Most homeowners insurance policies don’t cover flood damage, so residents of Albany who live in at-risk areas will want to consider flood insurance on top of their regular home insurance policies.
In addition to comparing home insurance quotes, Albany homeowners can also compare private flood insurance rates with Policygenius, or choose a policy through a government entity like the National Flood Insurance Program.
Learn more >> Flood insurance in New York: Coverage & costs
How to get homeowners insurance quotes in Albany
Now that you're familiar with the best and cheapest home insurance options available in Albany, it's time to start shopping for homeowners insurance. Here are some things you should keep in mind as you compare home insurance quotes in Albany.
Frequently asked questions
How much is home insurance in Albany?
Homeowners insurance in Albany costs an average of $1,025 per year or $85 a month.
How does the cost of home insurance in Albany compare to the rest of the state?
The cost of home insurance in Albany is around $100 cheaper than the rest of New York — $1,025 per year compared to the statewide average of $1,114 per year.
What’s the cheapest homeowners insurance in Albany?
NYCM Insurance has some of the cheapest rates on our list for Albany homeowners, with home insurance costing an average of $702 per year. National General is also pretty affordable, with an average rate of $729 per year. Keep in mind that homeowners insurance rates vary according to how much coverage you need, your home’s location, age, build, and more.
