Home Insurance in Wellsville, New York
Homes in Wellsville carry a median value of $91,200 - 10% lower than the Allegany County median.
The typical home in Wellsville was built around 1944. About 71% of homes were built before 1960, about 26 points above Allegany County's 45%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
The housing stock in Wellsville is 62% single-family homes, 21% apartments in buildings with 5+ units and 3% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 45% of owner-occupied homes in Wellsville have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Wellsville has an owner-occupancy rate of 63% and a vacancy rate of 13%; unoccupied homes typically need a different coverage form.
In Wellsville, 68% of homes are primarily heated with natural gas.
Allegany County had 228 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is inland flooding (Relatively Moderate). See the full Allegany County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in New York is $1,801 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $91,200 |
|---|---|
| Median year built | 1944 |
| Owner-occupied share | 63% |
| Share of owner-occupied homes with a mortgage | 45% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Allegany County | 228 |
| Home insurance premium | $1,801 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)