Living in Monsey means you're part of one of the most vibrant communities in Rockland County. This hamlet in the Town of Ramapo is home to nearly 28,000 residents and sits right in the heart of the New York metropolitan area. Whether you own a home, rent an apartment, or commute to work each day, insurance is one of those things you can't afford to get wrong. New York has some unique insurance requirements that catch newcomers off guard, and Rockland County's rising insurance costs mean you need to be strategic about your coverage.
This guide walks you through everything you need to know about protecting yourself, your family, and your property in Monsey. From navigating New York's no-fault auto system to understanding why your homeowners insurance just went up, we've got you covered.
Auto Insurance: Understanding New York's No-Fault System
If you're new to New York, the no-fault insurance system probably sounds confusing. Here's what it actually means: when you're in an accident, your own insurance company pays your medical bills and lost wages up to $50,000, regardless of who caused the crash. You don't have to wait for the other driver's insurance to accept fault or go through lengthy investigations. Your bills get paid, period.
Every driver in New York must carry at least $50,000 in Personal Injury Protection (PIP), which is the no-fault coverage. But that's not all. You also need liability coverage with these minimum limits: $25,000 for bodily injury per person, $50,000 for bodily injury per accident, and $10,000 for property damage. Plus, New York requires uninsured motorist coverage at 25/50 limits, which you cannot waive.
Here's the thing most Monsey residents don't realize: those minimum limits are rarely enough. If you cause a serious accident, medical bills can easily exceed $25,000 for a single person. Property damage to a newer vehicle can blow through that $10,000 limit in a heartbeat. Consider bumping your liability coverage to at least 100/300/50 or adding an umbrella policy for extra protection. It costs less than you'd think and could save you from financial ruin.
Homeowners Insurance: Dealing with Rising Costs in Rockland County
Let's address the elephant in the room: homeowners insurance in Rockland County skyrocketed 67.2% between 2023 and 2024. That's not a typo. While neighboring counties like Westchester saw increases around 22.5%, Rockland homeowners got hit particularly hard. If your renewal notice made your jaw drop, you're not alone.
The average New York homeowner now pays around $1,554 per year for coverage, but in Rockland County, you're likely paying significantly more than that. Several factors drove this increase: severe weather events across New York, rising construction costs that make repairs more expensive, and increased claim frequency. Insurance companies are raising rates about 8% or more in 2025 just to keep up with their losses.
What can you do about it? First, shop around. Rates vary wildly between companies, and you might find coverage for $914 per year with some carriers versus $2,913 with others. Second, review your coverage annually. Make sure your dwelling coverage reflects current replacement costs, but don't over-insure. Third, ask about discounts. Bundling your home and auto insurance, installing security systems, or upgrading your roof can all lower your premiums.
One more thing about homeownership in Monsey: property taxes. Rockland County has a median effective property tax rate of 9.36%, which means the median homeowner pays $10,993 per year. If you have a mortgage, these taxes are likely bundled into your monthly payment through an escrow account, along with your insurance premiums. Review your escrow statements annually to make sure the right amounts are being collected.
Flood Insurance: A Growing Concern for New York Homeowners
Flooding is the number one natural disaster in New York State. More properties are at risk here than in New Jersey and Connecticut combined. Nearly one-third of all New York properties face a high risk of severe flooding within the next 30 years. The flash floods that hit the Hudson Valley in July 2023 destroyed hundreds of homes, many of which were in areas designated as low or moderate risk.
Here's what catches people off guard: your homeowners insurance does not cover flood damage. Not at all. You need a separate flood insurance policy, typically through the National Flood Insurance Program (NFIP). The average cost in New York is $1,124 per year, higher than the national average of $887. If your home is in a high-risk flood zone and you have a mortgage, your lender will require you to buy flood insurance.
But here's the surprising part: about a quarter of all flood insurance claims come from outside high-risk areas. Just because you're not in a flood zone doesn't mean you're safe. The good news is that if you're in a low-to-moderate risk area, you can get a Preferred Risk Policy for just over $260 per year for $100,000 of coverage. That's cheap insurance for serious peace of mind. One important note: flood policies don't take effect until 30 days after purchase, so don't wait until a storm is approaching.
Renters Insurance: Protection Beyond Your Belongings
If you rent in Monsey, you might think insurance is your landlord's problem. That's partially true: your landlord's insurance covers the building, but it doesn't cover your stuff or your liability. If your apartment floods and ruins your furniture, or if someone trips over your extension cord and breaks their ankle, your landlord's policy won't help you one bit.
Renters insurance in New York is remarkably affordable. The average policy costs between $125 and $167 per year, which works out to about $10-15 per month. For that price, you get coverage for your personal property, liability protection (usually $100,000), and additional living expenses if your apartment becomes uninhabitable due to a covered loss.
The liability coverage is what really matters. If someone slips on your wet bathroom floor and needs surgery, you could be on the hook for tens of thousands in medical bills and potential legal costs. Your renters policy handles that. It also covers you if you accidentally cause damage to your building, like a kitchen fire that spreads to neighboring units. For $12 a month, that's protection you can't afford to skip.
Getting Started: Your Insurance Action Plan
Insurance shopping isn't fun, but it doesn't have to be complicated. Start by gathering quotes from at least three different companies for each type of coverage you need. Don't just look at price, look at coverage limits, deductibles, and customer service ratings. A cheap policy that doesn't pay claims when you need it is worthless.
Review your coverage every year, especially with how fast rates are changing in Rockland County. Life changes affect your insurance needs: got married, bought a new car, started a home business, adopted a dog? All of these might require coverage adjustments. Set a calendar reminder for your renewal date and use it as a prompt to shop around.
Finally, don't underinsure just to save money. Yes, insurance is expensive in Monsey right now, but a claim you can't cover is far more expensive. Focus on getting adequate coverage first, then look for legitimate ways to reduce costs through discounts, higher deductibles, or bundling policies. Your future self will thank you when something goes wrong and you're actually protected.
