NYC Home Insurance

NYC Home Insurance Information

NYC Home Insurance

NYC Home Insurance

One thing that affects the price of home insurance is the value of the home that you are getting coverage for.  In NYC, NY, the estimated median house value is $538,800.  This is higher than the New York State average of $311,000.

Another thing that affects home insurance rates is the likeliness of natural disasters like flooding or hurricanes.  NYC, NY gets 46 inches of rain per year which is higher than the US average of 37.  It also gets 25 inches of snow each year which is equal to the US average of 25 inches.  There are 224 sunny days per year and the July high is around 86 degrees.  The low in January is 26 degrees.

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In general, what your insurance will or won’t cover relates to the type of policy you buy and the amount of coverage, especially if you purchase either an “all risks” policy or a “named perils” policy. A named perils policy covers losses that are due to only those perils specifically listed in the policy, which typically include fire, windstorm, hail, and other physical losses. An all risks policy covers losses due to any peril except those which are specifically excluded in the policy, so an all risks policy provides broader protection than a named perils policy.

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