Buffalo, New York, homeowners can lower home insurance rates by $111
By: Hemanth Ramesh October, 17, 2019
According to a Gavop study, homeowners in Buffalo, New York, pay an average homeowner's insurance rate of $360 per annum. Buffalo experiences about 858 robberies annually and more than 10,284 crimes target properties annually. Generally, higher crime rates translate into higher insurance costs. Buffalo is considered to be one of the most dangerous cities in the United States. The neighborhoods in the metropolitan regions of Buffalo are statistically much safer than those in the rural areas. In particular, South Abbott, North Park, and Starin Central, Albright have been identified as the safest neighborhoods to live in Buffalo.
According to the year-end crime statistics, in 2018, 40 murders were reported in Buffalo. About 99% of New York neighborhoods have a lower crime rate than those in Buffalo. Violent crime statistics significantly vary by neighborhood: economically developed areas and those with higher education levels tend to have lower crime rates.
South Abbott is one of the safest neighborhoods in Buffalo and has a median home value of $113,902. Albright is another neighborhood considered safe, Albright has an average home value of $215,277.
Emerson, by contrast, is one of the most dangerous neighborhoods in Buffalo, where the typical home value is $215,781 and the replacement cost is $242,242. Eggertsville also has the highest education rate; more than 52% of its residents have at least a bachelor’s or higher degree. South Park has the lowest average home value at $22,600. Triangle and Hertel Avenue, on the other hand, report the highest home values and replacement costs of $332,500 and $362,430, respectively.
Gavop research reveals that Buffalo homeowners can lower their homeowner's insurance costs by enhancing safety features on their properties. In addition to improved security, better safety features help lower home insurance rates. For instance, installing deadbolt locks can earn Buffalo homeowners a discount of $93 on their homeowner's insurance. Homes with burglar alarms (e.g., smart alarm sensor, indoor and outdoor cameras, smart locks, and sky control panel) are considered for an additional discount of $103. Fire extinguishers give Buffalo homeowners a discount of about $111.
ABOUT THE AUTHOR
Hemanth Ramesh
Hemanth Ramesh works as a writer for Gavop. He has previously written content for film promotions, start-ups, advertising agencies and event management firms. Hemanth Ramesh completed his MA in Journalism and Mass Communication from The English and Foreign Languages University. His other passion includes script writing.
