New York City is one of the biggest and busiest cities globally and is the pride of the state. New York is also one of the leading agricultural states in the country and has over 33,000 farms. As a result, there are diverse skyscrapers and storehouses with different insurance needs in the state. For the high median home costs in the state, homeownership insurance rates in the state are relatively cheap. Natural disasters are a rare occurrence in New York. The North American cold wave in 2016 was the last time any natural hazard hit New York, and even that was mild. This has contributed to the relatively low premiums. Other factors considered in determining insurance rates include Age of the house, Credit score, Marital status, Deductibles, and the Size of the house. The average home insurance rate in the state is a decent $974 per annum ($81 per month), which is over $300 below the national average of $1,445. The figures may vary depending on the methodology, insurance premiums in the state are generally considered fair. Webster is the city with the lowest average home insurance rate, at about $736 per annum, over $200 below the mean state average. Homes in Southampton are considered the most expensive in the city, with premiums at about $1,936 per annum - more than two times the state average. NYCM Insurance and USAA offer the lowest premiums in the state at $610 and $641 per year, respectively. Encompass Insurance and Chubb Insurance are the most expensive in New York.