Home Insurance in Cherry Valley, New York
Homes in Cherry Valley carry a median value of $162,200 - 9% lower than the Otsego County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The median home in Cherry Valley was built in 1939 or earlier. About 87% of homes were built before 1960, about 32 points above Otsego County's 54%.
In Cherry Valley, the housing stock is 87% single-family homes and 5% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 44% of owner-occupied homes in Cherry Valley have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Cherry Valley has an owner-occupancy rate of 94% and a vacancy rate of 41%; unoccupied homes typically need a different coverage form.
In Cherry Valley, 47% of homes are primarily heated with fuel oil. Homes heated with propane, fuel oil and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Otsego County had 316 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is inland flooding (Relatively Moderate). See the full Otsego 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 | $162,200 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 94% |
| Share of owner-occupied homes with a mortgage | 44% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Otsego County | 316 |
| 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)