New Rochelle Homeowners Insurance

Your Complete Guide to New Rochelle, NY Homeowners Insurance

Find the right homeowners insurance policy for you.

With its beautiful parks, ample recreation, and award-winning public school system, the New York City suburb of New Rochelle is a great place to put down roots and raise a family. Housing in this city is expensive; so as a New Rochelle homeowner, it is especially important that you protect your investment with a solid home insurance policy.

Independent insurance agents in New Rochelle can help you find reliable, competitively priced coverage. Find an agent near you to learn more.

How Much Does Homeowners Insurance Cost in New Rochelle, NY?

New York is the 15th most expensive state for home insurance. The average home insurance rates in this state are higher than the national average, and in New Rochelle, the rates are even higher. This is largely due to high property values and the increased risk of hurricane and tropical storm damage for houses along the Eastern Seaboard.

  • National average yearly premium: $1,173
  • New York average yearly premium: $1,287
  • New Rochelle yearly premium average: $2,225

Of course, your quoted costs may vary from the figures shown above because rates are calculated individually according to several factors such as:

  • The age, size, value, and other details about your house
  • Whether the property is your primary residence or a second home
  • The crime rate and common weather hazards in your ZIP code 
  • Your claims history and credit score
  • The amount of your deductible

If you bundle your home insurance with other policies such as car insurance or life insurance, you can often get all of your coverage at discounted rates. An independent agent in New Rochelle can help you find the right home insurance policy to meet your coverage and budgetary needs.

New Rochelle's Burglary Rate

The burglary rate in New York is much lower than the national average, and in New Rochelle, the risk is even lower. This does not mean that burglaries never happen here. Residents of this city report about 150 burglaries in a typical year. 

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in New York: 1.66
  • Number of burglaries per 1,000 homes in New Rochelle: 1.55

Although the risk of burglary is low, some New Rochelle residents have installed home security systems in their houses. Of the many preventive measures you can take to lower your risk of being targeted by thieves, burglar alarms are the most effective. That is why most insurance companies offer discounts to policyholders who use them.

In the event that your house is broken into, it may give you some comfort to know that your homeowners insurance policy can provide compensation for your losses. Your local insurance agent can help you review your contents coverage to ensure that your most valuable belongings are appropriately covered. 

Catastrophic Events in New Rochelle

Homeowners insurance is designed to cover loss or damage to the structure of your house as well as to the personal property (contents) inside it. You will want to be sure that your coverage limits are high enough to allow you to rebuild, repair, or replace damaged property if your house is impacted by a catastrophic event like a fire, frozen pipes, or hurricane-force winds.

  • Number of declared disasters in New York: 58
  • Most common reasons for disasters in the state: Severe Storms and Heavy Snow
  • Average number of tornadoes per year in New York: 9.6
  • Average amount of property damage per year in NY: $2,170,228,000
  • 1 in 15 insured homes has a claim each year.

Hurricanes and other major storms pose the biggest threat to homeowners in New Rochelle. In 2012, Hurricane Sandy wreaked havoc in this city, uprooting trees, knocking out power lines, and damaging homes. Your independent insurance agent can help you be certain that your home insurance provides ample coverage against hurricane damage.

Hurricane Sandy also caused massive flooding in New Rochelle. Unfortunately, although home insurance covers against hurricanes, it does not cover flood damage – even if a hurricane is to blame. To be covered against this hazard, you will also need to purchase a flood insurance policy. Your insurance agent can help you get affordable coverage through the NFIP.

Liability Coverage for New Rochelle Homeowners

Your homeowners insurance does more than cover your property. It also provides you with personal liability insurance. This liability coverage is designed to cover the associated expenses—such as court costs, legal fees, and damages—if you are sued for a covered event.

Examples of times that you may need to use your homeowners liability insurance include:

  • You didn’t get a chance to clear your icy walkway. A visitor slips walking to your door and suffers a serious back injury that requires months of physical therapy.
  • Your child leaves the fence open and your dog gets out and bites a neighbor.
  • A local restaurant takes issue with a scathing review you posted on Yelp and threatens to sue you for defamation.

If you have a lot to lose, you may want to have more liability coverage than your home insurance company can provide. Umbrella insurance is an affordable way to significantly boost your coverage limits. Your independent insurance agent can help you find an affordable policy.

Second Home and Vacation Home Insurance

If you are among the New Rochelle citizens who owns a house that is not your primary residence, this extra property is likely to have additional risk factors that insurance companies will take into consideration when calculating rates. This may result in higher costs for coverage. 

Perhaps you own a multi-family house that you rent out to tenants. This second home will have lower contents coverage needs, since your tenants will be responsible for covering their own property with renters insurance. However, when you have tenants occupying your property, your liability risk is higher. That is why this type of home would need to be covered by landlord insurance.

Or maybe you own a vacation house in the Adirondack Mountains or in another state. Depending on the location of your vacation home, it may have different weather risks that you will need to have coverage against. Also, if the house is left unoccupied and unattended for several months out of the year, your insurer may require you to purchase vacant home insurance.

Your local independent agent can help you review the coverage needs of your secondary properties and can help you find the best home insurance coverage for all of your houses.

Why Work with an Independent Insurance Agent?

Independent insurance agents are happy to assist you with all of your insurance coverage needs. You can turn to one of these local agents when you want answers to your insurance-related questions, advice from a trusted professional, and help finding the best and most affordable policies.

Contact an insurance agent with an office in or near New Rochelle to learn more. You will soon discover how easy it can be to compare customized, competitively priced homeowners insurance quotes.

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http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com