Home Insurance in Saranac Lake, New York
With a median home value of $199,900, Saranac Lake is 37% higher than the Franklin County median.
The median home in Saranac Lake was built in 1939 or earlier. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 72% of homes were built before 1960, about 26 points above Franklin County's 46%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Saranac Lake is 44% single-family homes, 30% apartments in buildings with 5+ units and 5% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
59% of owner-occupied homes in Saranac Lake carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Saranac Lake has an owner-occupancy rate of 47% and a vacancy rate of 10%; unoccupied homes typically need a different coverage form.
57% of homes in Saranac Lake are primarily heated with fuel oil. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Franklin County had 83 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is earthquake (Relatively Low). See the full Franklin County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in New York carries a statewide average premium of $1,801 per year.
Key figures
| Median home value | $199,900 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 47% |
| Share of owner-occupied homes with a mortgage | 59% |
| Top county hazard | Earthquake (Relatively Low) |
| Active NFIP policies in Franklin County | 83 |
| 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)