Home Insurance in Nichols, New York
Homes in Nichols carry a median value of $147,000 - 9% lower than the Tioga County median.
The median home in Nichols 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 87% of homes were built before 1960, about 47 points above Tioga County's 40%.
Housing in Nichols breaks down to 81% single-family homes, 4% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Nichols, about 48% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 71% of occupied homes in Nichols are owner-occupied.
Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Nichols - 71% - are primarily heated with fuel oil.
FEMA rates Tioga County's overall risk as Relatively Low, led by inland flooding (Relatively Moderate). Tioga County had 661 active NFIP flood policies as of September 2026. See the full Tioga 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 | $147,000 |
|---|---|
| Median year built | 1939 or earlier |
| Owner-occupied share | 71% |
| Share of owner-occupied homes with a mortgage | 48% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Tioga County | 661 |
| 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)