Homeowners Insurance in Plattsburgh, New York

If you own a home in Plattsburgh, you should protect it with the right homeowners insurance so nothing jeopardizes your way of life.

A home insurance policy financially protects you and your family in several ways. Read on to learn how to find the best homeowners insurance in Plattsburgh while saving money.

The average cost of homeowners insurance in Plattsburgh is around $1,513 annually, although costs vary by location, provider, and more. 

Home insurance in Plattsburgh is slightly pricey compared to the New York state average of $1,489, but many factors affect rates, so there’s no reason to fret until you get quotes and find exact numbers.

One of the main considerations in home insurance premiums is your home’s value. Companies use your home’s replacement cost, which is the potential amount of money needed to rebuild your house from the ground up based on construction and labor expenses, to determine how much insurance coverage you need.

Look at the table below for some average home insurance rates in Plattsburgh at some typical home values.

As you can see, average premiums rise as home value increases. Larger, nicer homes always cost more to insure because they cost more to rebuild. 

Homeowners insurance policies are generally divided into six coverage areas encompassing your home, possessions, and liability.

Homeowners insurance protects your home and belongings from possible sources of damage called covered perils. Typical plans guard against over a dozen perils, with some of the most common ones being theft, fires, windstorms, and some instances of water damage.

Getting the best homeowners insurance in Plattsburgh requires an understanding of your coverage needs and budget. There’s no default combination of coverage options or insurance providers that’s best for all people because every policyholder is different. You’ll likely need to adjust some aspects of your policy and shop around among multiple carriers to find the best plan for your circumstances.

You’re responsible for setting your policy limits when quoting. Ensure every coverage area has a high enough limit to cover your property. For example, we recommend creating a home inventory to track and value your belongings. Add up the costs of your items, and the grand total is the precise amount of personal property coverage you need to fully guard your items.

Also, set your liability limits at a number that shields all your financial assets. For most people, this is between $300,000 and $500,000 of coverage. Raising your liability limits is relatively cheap, and most insurers let you increase them up to $1 million if needed.

Even though home insurance policies typically protect against over a dozen perils, you may find some property risks that aren’t included in your default coverage. You can supplement your plan with optional coverage add-ons called endorsements. 

You can get endorsements for natural disasters normally excluded from home insurance, like sinkholes and water backup. You can also get endorsements to better protect certain possessions in and around your home that are limited under default coverage. For example, scheduled personal property coverage protects especially expensive items that exceed $5,000 in value, like costly jewelry, artwork, and memorabilia.

Check what endorsements are available when quoting, determine if your situation requires them, and see how they may align with your budget.

Once you’ve addressed all your coverage needs, the second most important part of the insurance process can play out. You should always shop around from several insurance carriers to find the cheapest homeowners insurance in Plattsburgh. 

Never settle for the first quote you get. Every company has different methods of calculating rates, which causes the cost of a policy to vary by provider. You won’t know which carrier has the most affordable policy for your situation unless you compare offerings from multiple companies.

Assessing your options also allows you to check each company’s different discounts and endorsements. Taking the time to shop around is essential to saving money.

While on the topic of protecting your home, we want to remind you that homeowners insurance excludes flooding damage. Flood insurance is separate from homeowners insurance.

Heavy rain has caused flooding throughout northern New York in the recent past. Although properties may have largely been spared, you can’t always predict what will happen. The National Flood Insurance Program reports that over 20% of its flood claims come from residences outside federally designated high-risk flood zones.

If you want protection from possible flooding, you need flood insurance in Plattsburgh. Most people get policies through the NFIP, the nation’s largest flood insurer. The federal government backs the NFIP and subsidizes rates for many policyholders.

You may also want to check your options on the growing private flood insurance market. As technology improves, some private carriers have been able to offer more flexible coverage than the NFIP at competitive rates. Explore your options for Plattsburgh flood insurance today. 

While the average cost of home insurance in Plattsburgh is about $1,513, rates are highly variable. Many factors affect premiums, such as:

Your home’s location affects its likelihood of damage. For instance, houses in flood zones or high-crime neighborhoods often have higher rates. You’ll have higher premiums if your house is more likely to suffer property damage.

Carriers also assess many aspects of your home’s construction, such as building materials, foundation type, and roof type. Houses made from brick or concrete often can withstand wind and fire damage better than wooden frame homes and tend to have lower premiums. Homes with newer roofs can better withstand wind damage and have lower insurance rates.

Companies will also ask about features on your property. For example, homes with trampolines, pools, or playground equipment have higher liability risks and typically have higher insurance costs. On the other hand, having a burglar alarm or deadbolt locks typically yields lower rates. 

Having a history of home insurance claims tends to raise premiums, as insurers think you’re more likely to file another than someone who never has.

No law requires home insurance in Plattsburgh, but mortgage lenders do. Lenders mandate insurance coverage for all borrowers. You’ll need a policy as long as you have a mortgage. 

Lenders regularly put down hundreds of thousands of dollars or more to fund home purchases. If you take out a mortgage on your house, your lender will want some way to protect its investment. They achieve this by requiring homeowners insurance.

If a covered peril wrecks your property, your policy will reimburse you and your lender so no one loses.

Getting multiple homeowners insurance quotes in Plattsburgh is essential to finding the best rates. You won’t know who has the cheapest coverage until you compare several companies. Our team at Clovered can help you with your insurance search.

As an independent insurance agency, we can help you find the best rates from our many partners. You can use our online quoting tool to easily compare your options, or you can call our licensed agents at 833-255-4117 during business hours to get a home insurance quote in Plattsburgh. You can also email us at  agent@clovered.com.