Home Insurance in Gilbertsville, New York
With a median home value of $165,000, Gilbertsville is 8% 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 Gilbertsville was built in 1939 or earlier. About 75% of homes were built before 1960, about 21 points above Otsego County's 54%.
The housing stock in Gilbertsville is 87% single-family homes and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Gilbertsville, about 52% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 88% of occupied homes in Gilbertsville are owner-occupied. The vacancy rate is 25%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
49% of homes in Gilbertsville 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's top FEMA-rated hazard is inland flooding (Relatively Moderate), per FEMA's National Risk Index. Otsego County had 316 active NFIP flood policies as of September 2026. 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.
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 | $165,000 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 88% |
| Share of owner-occupied homes with a mortgage | 52% |
| 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)