Home Insurance in Hamilton, New York
The median home value in Hamilton is $264,200, 43% higher than the Madison County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The median home in Hamilton was built in 1939 or earlier. About 64% of homes were built before 1960, about 18 points above Madison County's 46%.
The housing stock in Hamilton is 57% single-family homes and 16% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
59% of owner-occupied homes in Hamilton carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 47% of occupied homes in Hamilton are owner-occupied. The vacancy rate is 17%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 63% of homes in Hamilton are primarily heated with electricity.
FEMA rates Madison County's overall risk as Relatively Low, led by inland flooding (Relatively Moderate). Madison County had 330 active NFIP flood policies as of September 2026. See the full Madison 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 | $264,200 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 47% |
| Share of owner-occupied homes with a mortgage | 59% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Madison County | 330 |
| 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)