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The cost of home insurance in Manhattan, NY, ranges between $619 and $842. Homeowners here can save up to $292 by comparing multiple home insurance quotes from different home insurance companies. The cost of home insurance can vary from one neighborhood to another. It depends on numerous factors such as the age of the house, the rate of deductibles, and the construction type of the house. Below, we explore several factors that will help homeowners in improving their savings.



The most common way of obtaining larger and better discounts is by bundling together car and home insurance. The infographic above is a clear indicator of the amount of savings one can garner through bundling. Homeowners can save up to $215 by bundling. This would require you to purchase both your car and home insurance from the same insurance company. 


The cost of home insurance also depends on the number of times one has made a claim. A lower number of claims means that the amount of risk being covered by the insurance company is much lower. This is perhaps why home insurance companies offer attractive discounts to those homeowners who have made zero claims.


Homes that are occupied by senior citizens may also make use of discounts. In Manhattan, savings for senior occupies homes can range between $109 and $111. 


Home safety devices help in reducing the risk being covered by the home insurance company. Equipping your home with the latest home safety devices can help in attracting discounts. Home insurance companies provide discounts for devices such as burglar alarms, deadbolts, fire alarms, and fire extinguishers.


Home insurance companies also provide discounts to those homes which are completely smoke-free. This reduces the risk of fire, which in turn reduces the amount of risk undertaken by the home insurance company. The percentage of discounts varies from company to company.


Home insurance companies in New York provide greater discounts to those homes that are new. Older the home, the lesser the amount of discount provided by the insurance company.


The rate of deductibles has a massive impact on the cost of home insurance. Choosing a high deductible will help in reducing the cost of home insurance, while a lower deductible will make it more expensive.