Home Insurance in Buffalo, NY

How to find affordable homeowners insurance in Buffalo

Home insurance is an important part of owning a home. Along with personal property, homeowners insurance covers your dwelling in the event of many perils, including theft, fire, wind damage, and vandalism. Events like this occur often. When paired with the high cost of repairing or rebuilding a house, homeowners coverage is a prudent purchase. The typical homeowners insurance policy in Buffalo, New York costs $89 per month. This is less than what the typical American pays for home insurance.

The cost of home insurance factors in variables such as the cost of building materials, the value of your personal belongings, and the overall value of the primary dwelling. The location of your home also contributes to the price of your insurance policy. In areas prone to perils like frozen pipes, hail, windstorms, or wildfires, home insurance rates may be higher to account for the extra risk. Find out more about the specifics of home insurance coverage.

Finding the cheapest home insurance in Buffalo starts with shopping around and comparing policies. Take a look at the summary below showing average home insurance premiums in Buffalo to help you get as much information as possible when you start your search for insurance. One thing to note is that the yearly cost of home coverage is determined based on your chosen coverage limits as well as a number of other rating factors.

Table of contents:

1. Rates by insurer
2. Rates by coverage amount
3. Rates by ZIP code
4. Rates by deductible amount
5. Policy bundling savings

 

Buffalo home insurance by company

What you pay for homeowners insurance in Buffalo will depend on the insurance company you get your policy through. State Farm offers the most affordable home insurance in Buffalo, at just $523 per year. This compares favorably to the city’s average homeowners insurance rate of $1,073.

Begin your search for a policy by reviewing the lowest cost home insurance companies in Buffalo, New York, listed below. Then, see our guide ranking the top home insurance companies by customer satisfaction, third-party ratings, and other factors. 

POPULAR COVERAGE LIMITS IN BUFFALO

Company	Average Annual Rate
State Farm	$523
Travelers	$599
NYCM Insurance	$678
MetLife	$793
Preferred Insurance	$841

 

Buffalo home insurance rates by ZIP code

Your chosen level of homeowners coverage has an impact on the insurance premiums you pay. Homeowners in Buffalo who carry $200K in dwelling coverage pay an average of $768 per year, while those with coverage up to $400K pay around $1,422 per year.

AFFORDABLE HOME INSURANCE AREAS IN BUFFALO

Coverage Level	Average Annual Rate
$100,000 Dwelling	$465
$200,000 Dwelling	$768
$250,000 Dwelling	$914
$400,000 Dwelling	$1,422

 

Buffalo homeowners insurance deductibles

Homeowners insurance costs may vary depending on the area of Buffalo in which you live. One of the factors that insurers use when pricing your coverage is the number of claims filed in your surrounding area. As such, the location of your house can drastically impact your home insurance rates.

To find the most affordable home insurance premiums in Buffalo, look no further than 14221. In the 14221 ZIP, homeowners policies typically cost just $1,037 per year, $36 less than the Buffalo average. The below table shows the best places to live in Buffalo if you’re looking for affordable insurance.

AFFORDABLE HOME INSURANCE AREAS IN BUFFALO

ZIP Code	Average Annual Homeowners Insurance Rate
14221	$1,037
14225	$1,040
14219	$1,043

 

On the other hand, some areas of Buffalo face higher homeowners insurance costs, on average. Crime rates, fire risk, and proximity to emergency services such as fire and police stations could impact rates the risk level of certain parts of the city, which has the potential to drive up area rates. An average annual rate of $1,102 makes 14213 the most expensive ZIP code in Buffalo for home insurance.

EXPENSIVE HOME INSURANCE AREAS IN BUFFALO

ZIP Code	Average Annual Home Insurance Rate
14213	$1,102
14222	$1,101
14209	$1,100

 

Buffalo homeowners insurance deductibles

Among the numerous options homeowners have when purchasing homeowners insurance is how high or low to set their deductible. The deductible is the total dollar amount that the insured must contribute toward a covered loss. Where you choose to set your homeowners deductible corresponds directly to the overall cost of your coverage.

In short, a higher deductible leads to cheaper insurance premiums. As such, if you want your insurance rates to remain low, aim for a higher deductible. It's worth noting that your deductible should only be as high as you can reasonably pay in the case of an actual loss.

Have a look at the typical deductibles offered by insurers and an estimate of average premiums.

HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN BUFFALO

Deductible Level	Average Annual Homeowners Insurance Rate
$500	$1,025
$1,000	$914
$1,500	$881
$2,000	$803
$5,000	$697

 

Home and auto insurance bundling in Buffalo

If saving money is your primary concern, it might be worth insuring your home and auto through the same insurance company. Bundling homeowners and auto insurance is one way to save substantially on your monthly car insurance premiums. In fact, bundling policies in Buffalo leads to average annual savings of 8%.

CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN BUFFALO

Company	Avg. Annual Auto Insurance Rate (With Bundle)
Progressive	$1,273
GEICO	$1,293
Allstate	$1,587
Liberty Mutual	$2,088
State Farm	$2,284