New York Home InsuranceNew York Home Insurance New York home owners insurance offers the necessary property damage coverage for your home. There are a few different policies to choose from, but two major ones for single family homes. The more basic HO-2 policy protects a home against such perils as fire, smoke, hail, wind, falling objects, theft, vandalism, vehicles, aircraft, frozen pipes, a sudden cracking, and overflowing steam from air conditioners and water heaters. The broad HO-3 policy offers the same perils plus bodily injury liability. This coverage protects you against anyone having an accident on your property and suing you. When you purchase a home using a mortgage lender, they usually require you to carry New York home insurance for the duration of the loan. New York Home Insurance CoverageIn the state of New York many perils can be evident. Depending on the area you live in, you may need added flood insurance to protect your home against flooding. The normal New York homeowners insurance policy does not cover flood damage. Your home will be protected from hail, the weight of heavy snow, and storm damage. It is always good to review your “exclusions” section of your policy to determine what may or may not be covered by your policy. RatesNew York homeowners insurance came in a little over the national average for homeowners insurance in 2003. Homeowners paid an average $721 for their annual 2003 premium. The New York homeowners insurance rates rose 14.3% from 2001 to 2003. Saving MoneyMany wish to reduce their New York homeowners insurance premium. There are some simple additions you can make to your home to reduce your premium rate. In high crime areas and elsewhere, a homeowner can install an alarm system and deadbolt to receive a discount. By increasing the safety of a home by installing smoke detectors many receive discounts. Many insurance companies offer discounts when you purchase both your home and auto insurance through them. Savings can also be found by shopping around before buying your New York homeowners insurance. Companies That Offer New York Homeowners Insurance:
New York Department of Insurance
New York City
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