Home Insurance in Allegany, New York
The median home value in Allegany is $164,100, 45% higher than the Cattaraugus County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Allegany was built around 1953. About 65% of homes were built before 1960, about 15 points above Cattaraugus County's 50%.
In Allegany, the housing stock is 75% single-family homes and 4% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
About 52% of owner-occupied homes in Allegany have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Allegany has an owner-occupancy rate of 66% and a vacancy rate of 14%; unoccupied homes typically need a different coverage form.
In Allegany, 78% of homes are primarily heated with natural gas.
Cattaraugus County had 449 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is inland flooding (Relatively Moderate). See the full Cattaraugus County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
In New York, the statewide average premium for a standard HO-3 homeowners policy is $1,801 per year (NAIC, 2023 data).
Key figures
| Median home value | $164,100 |
|---|---|
| Median year built | 1953 |
| Owner-occupied share | 66% |
| Share of owner-occupied homes with a mortgage | 52% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Cattaraugus County | 449 |
| 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)