How much is car insurance per month in New York?

The average monthly rate of car insurance in the Empire state is $137 for state-mandated minimum coverage and $321 a month for full coverage. Your own rate is likely to differ from the averages since it is based on a range of factors that apply to you and your situation. Your age, credit history and driving record all impact the rate you pay, as well as your car's age, make and model. You may be able to pay less than the average if you maintain a clean driving record and take advantage of all possible discounts.

Is New York a no-fault state?

Yes, New York is a no-fault state. This means if you are involved in an accident in the state of New York, each driver must file a claim with the insurance company, no matter who is ruled at fault. It also means you are required to carry personal injury protection (PIP) as a part of the state's minimum insurance requirements.

What is the best car insurance company in New York?

To find the best car insurance company in New York for your circumstances, you may want to consider your insurance priorities and narrow down companies based on these metrics. Some drivers may value low rates above all else, while others may want a company with outstanding customer satisfaction scores. Reflecting on your priorities and comparing quotes from companies that match your criteria may be a good strategy to find the best company for you.

What is the cheapest car insurance company in New York?

To find the cheapest car insurance company in New York, most insurance professionals recommend comparing quotes from multiple carriers. Every company has its own method for determining rates and offers different discounts, so one company may offer a better rate than another. Personal factors like your vehicle type, coverage selections and your driving record may impact your rate differently between companies.

Why is car insurance so expensive in New York?

Several factors may cause you to pay high auto insurance rates in New York. High urban density can contribute to increased rates of auto accidents and increased odds of accidents involving more expensive vehicles. However, New York is also a no-fault state, so it has higher minimum car insurance requirements than many other states. All of those factors tend to contribute to steeper auto insurance rates. Beyond these variables, the relatively high local risks of severe weather, theft and vandalism are also likely contributors to the high car insurance rates in New York. Still, individuals may be able to find rates below the state average by maintaining a clean record, pursuing discounts and shopping around for the best rates.

For credit based-based insurance scores:

These rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. Four states prohibit or limit the use of credit as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.

For incident-based insurance rates:

Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single DUI conviction and lapse in coverage.

For age-based insurance rates:

Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

For teen insurance rates:

Rates were determined by adding a 16- or 17-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.

For model-based insurance rates:

To determine cost by vehicle type, we evaluated our base profile with the following vehicles applied: BMW 330i, Ford F-150, Honda Odyssey, Toyota Prius and Toyota Camry (base). For new vs used vehicles, we also included the following years in our calculations: 2016, 2017, 2018, 2019 (base) and 2020.

For gender-based insurance rates:

The following states do not use gender as a determining factor in calculating premiums: California, Hawaii, Massachusetts, Michigan, North Carolina, Pennsylvania.

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Average cost of car insurance in New York for 2024

Written by

Jessie See

Edited by

Natasha Cornelius, CLU

Reviewed by

Mark Friedlander

Edited by

Natasha Cornelius, CLU

Reviewed by

Mark Friedlander

Updated Nov 13, 2024

In the state of New York, the average cost of car insurance is $3,846 per year for full coverage and $1,644 for year for minimum coverage.

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How much is car insurance in New York?

New York drivers pay a whopping 56 percent more for their car insurance than the average American driver. Bankrate used Quadrant Information Service data to find New York drivers pay an average of $3,846 per year for full coverage and $1,644 for a minimum policy. The average full insurance policy in the U.S. is $2,458 for full coverage and $678 for minimum coverage. As one of the most populated states, New York drivers are more likely to be involved in accidents and put in claims. To learn more, Bankrate’s insurance editorial team took a deeper look at car insurance in the Empire State.

Key takeaways

The average cost of car insurance in New York per month is $137 for minimum coverage, while full coverage costs an average of $321 a month.
Drivers in New York who purchase full coverage pay an average rate that is 56 percent more than the national average.
Eighteen-year-old drivers on their own insurance policy pay the highest average insurance rates of all the driver profiles we analyzed.
New York drivers with poor credit-based insurance scores pay an average of 100 percent more for full coverage than a driver with a good credit-based insurance score.
Drivers who have vehicles that are higher in value and cost more to repair typically pay higher-than-average rates.

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New York car insurance rates by city

When looking at the average car insurance cost in New York, it's important to note that the average may vary depending on where you live in the state. If you are in one of New York's high-density urban areas, you may pay more for your coverage than those in more rural areas. This is due to the increased risk of accidents and other vehicle mishaps in areas with dense traffic patterns. Here are average rates for some of the state's cities and towns: