Staten Island Homeowners Insurance

Your Complete Guide to Staten Island, NY Homeowners Insurance

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Staten Island New York homeowners insurance

Staten Island, NY is known for its wealth and seclusion. With over 170 state parks, this city has a lot of green space. 

When you own a home on this island with 481,026 residents, you'll want adequate protection. An independent insurance agent can help you find a home policy to suit your needs.  

Do Property Crimes Affect Your Staten Island, NY Homeowners Insurance Rates?

Local crime will play a part in your home insurance premiums. If you live in a high-theft area, you're likely to see more expensive insurance rates. Let's look at the numbers:

  • Number of burglaries per 100,000 households in the US: 376.00
  • Number of burglaries per 100,000 households in NY: 159.30

New York has a lower than average burglary rate. Your insurance rates could be positively impacted due to less activity. However, if you are the victim of a home break-in, your insurance will respond in the following ways:

  • Pay for medical expenses if there are any injuries to household members
  • Pay for additional living expenses if your home needs to be repaired or replaced
  • Replace or repair damaged or stolen property

If you want to offset any extra insurance costs due to crime rates, there are certain things you can do. Your Staten Island independent agent can help bundle your home and auto insurance, saving you time and money. With an average of 30% discounted annual premium, bundling is worth the conversation.

How Catastrophic Events Impact Your Staten Island, NY Homeowners Insurance

Significant exposures, such as catastrophic events and natural disasters, have a substantial impact on your premiums. The carriers account for local severe weather to help determine pricing. Let's look at the facts for New York:

  • The average number of tornadoes per year: 10
  • The most common natural disaster: Severe storms
  • The number of claims paid in 2016: 2,170,228,000
  • The number of federally declared catastrophes since 1953: 101

When it comes to fire, theft, and severe weather, your home policy needs to be accountable. Check out the five most common property risks in Staten Island, NY:

#1 - Hurricanes

#2 - Storms

#3 - Floods

#4 - Blizzards

#5 - Power outages

Flood Insurance in Staten Island:

Staten Island is surrounded by water. In this city, flooding is a real possibility and the third most common exposure. Your primary home policy excludes flood damage. Separate flood insurance is needed to have proper protection. Take a look at these four easy steps to getting a flood quote:

1. Connect with an independent agent.

2. Determine your property's flood zone with your agent.

3. Have your agent quote FEMA-approved flood insurance.

4. Purchase the best option.

Connect with your local independent agent to get the flood insurance your home needs. 

Liability Insurance Options in Staten Island, NY

Your homeowners liability insurance will cover the following:

  • Injury to another person
  • Slander or bullying caused by a household member
  • A dog bite causing harm to another person
  • Accidental damage to another person's property

Another option for liability coverage is an umbrella policy. 

Umbrella Insurance:

Umbrella insurance will provide an additional limit of liability above and beyond your underlying homeowners policy. When a large claim occurs and exhausts your primary home limits, your umbrella insurance will pick up the rest. Starting at $1,000,000 in coverage, an umbrella policy could help with your next big loss. Speak with your Staten Island agent about liability coverage to get started. 

The Cost to Insure Your Home in Staten Island, NY

When you're comparing premiums, it's key to know that not all policies are alike. Every person will have individualized coverages and costs. Take a look at home insurance rating factors used by the carriers:

  • Your claims history
  • Coverage selected
  • Crime rates
  • Year, construction type, and square footage of your home
  • The replacement cost of your home
  • Your insurance score
  • Discounts that may apply

The averages will help you know if you're above or below the state and national figures. Let's look at the facts:

  • National yearly average: $1,211
  • New York yearly average: $1,309

New York is the 23rd most expensive place to have home insurance. Staten Island is close to that number. Your independent agent can get you exact pricing on your home, auto, umbrella and life policies at the same time. Contact your local adviser to start saving.

How to Insure Your Staten Island Vacation or Rental Property

Your primary home policy is different and usually will be less expensive than your insurance for a rental property or vacation home. A couple of other policies could apply when you own more than one home.

Homeowners Insurance Policy Types:

  • Landlord insurance - Whether it's a short-term or long-term rental property, you'll want coverage for your interests as well as third-party exposure. A landlord policy will provide this insurance.
  • Seasonal home insurance - For your vacation home that is vacant for a large part of the year, this policy would apply. 

Discuss the different coverages your second property needs with your Staten Island agent. 

How an Independent Agent Can Help in Staten Island, NY

A Staten Island independent insurance agent can save you time and premium dollars. They work with local carriers, so you don't have to. 

When you use an independent agent, you'll have access to the best rates in town. You can connect with an expert on TrustedChoice today.

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