Homeowners insurance for Hudson Valley homes

No New York law requires homeowners insurance. If you have a mortgage, though, your lender will almost always require it, along with proof that the dwelling is insured for enough to rebuild. Even without a mortgage, going uninsured means paying for a fire, a fallen tree or a liability lawsuit out of pocket.

• Dwelling: the structure of your home, including attached structures like a garage or deck.
• Other structures: detached garages, sheds, fences and barns.
• Personal property: furniture, clothing, electronics and other belongings, at home or while traveling.
• Loss of use: extra living costs, such as a hotel or rental, if a covered loss makes your home unlivable.
• Personal liability: legal costs and damages if you're found responsible for injuring someone or damaging their property.
• Medical payments to others: smaller medical bills for guests hurt on your property, regardless of fault.

• Flood. Standard homeowners policies exclude flood damage. Flood coverage is a separate policy, through the National Flood Insurance Program or a private carrier. NFIP policies generally have a 30-day waiting period, so don't wait for the forecast.
• Sewer or drain backup. Water backing up through drains is excluded unless you add a water backup endorsement.
• Earth movement, wear and tear, and maintenance issues such as rot, pests or a slow leak.
• High-value items over policy limits. Jewelry, art and collectibles have low limits for theft unless you schedule them.
• Home businesses. Business property and liability are limited; see our article on home-based business insurance.

Many homes in Dutchess, Putnam and Orange counties are older, larger or rural. That matters for coverage:

• Older homes can cost more to rebuild to today's building codes. Ordinance or law coverage pays for those required upgrades.
• Replacement cost is what your dwelling limit should reflect: the cost to rebuild, not the market value or what you paid.
• Rural properties may be farther from a fire hydrant or station, which affects pricing and carrier options.
• Winter brings frozen pipes, ice dams and fallen limbs, some of the most common claims in our area.
• Homes near the Hudson or its tributaries may need flood coverage even outside a high-risk flood zone.

If your home's rebuild cost is high or it's a historic property, see our high-value homes coverage.

New York gives homeowners strong protections. Once a policy has been in force for 60 days, an insurer can generally cancel it only for specific reasons, such as nonpayment, fraud or a material change in risk. Most homeowners policies also carry a three-year required policy period, and an insurer that chooses not to renew must give written notice with a specific reason 45 to 60 days before expiration.

Because we're independent, we're not tied to one company's prices or rules. We compare carriers on coverage, price and claims service, then explain the differences in plain language. When it's time to renew, we review your coverage again so your dwelling limit keeps up with rebuilding costs.