Average cost of car insurance in New York for 2021

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New York has over 13 million licensed drivers, making it the fourth-ranked highest number of drivers of any state. This means the cost of car insurance in New York is a question asked by millions of residents. While you will find plenty of drivers on the road, finding the least expensive rates may be more of a challenge when inquiring about car insurance. New Yorkers average car insurance rate of $2,321 per year for full coverage, which means New York is one of the most expensive states to purchase insurance in.

How much does car insurance cost in New York?

The range in cost of premiums in New York is as varied as the towns across the Empire State. The reason for this is the number of personal factors your premiums are based on. It’s based on specifics including your age, gender, marital status, driving record, vehicle — and your zip code. New Yorkers pay some of the highest rates in the country, with minimum coverage averaging $1,062 annually and full coverage averaging $2,321.

New York car insurance rates by company

The best car insurance companies in New York not only offer high customer satisfaction ratings and financial strength, but also provide competitive rates for New Yorkers.

Car insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Allstate $1,335 $2,433
American Family $2,817 $4,764
Chubb $1,140 $2,758
Erie $773 $1,629
Geico $821 $1,969
Kemper $1,627 $3,150
Main Street America Group $304 $761
MetLife $1,574 $3,134
NYCM $1,129 $2,669
Preferred Mutual $577 $2,869
Progressive $695 $1,139
State Farm $1,241 $2,333
USAA $922 $2,137
Utica National $695 $5,075

New York car insurance rates by city

It is not only the state you are located in, but your city and zip code directly contribute to how much you pay for auto insurance. The cost from one city to the next can be double or triple in some cases.

City Average annual premium for full coverage % difference from state average annual premium
New York $4,959 114%
Rochester $1,568 -32%
Buffalo $2,292 -1%
Jamaica $5,055 118%
Flushing $4,567 97%
Yonkers $2,972 28%
Syracuse $1,735 -25%
Astoria $4,410 90%
Albany $1,655 -29%
Schenectady $1,634 -30%
Corona $4,677 102%
Elmhurst $4,616 99%
Ridgewood $4,449 92%
Woodside $4,454 92%
East Elmhurst $4,679 102%
New Rochelle $2,560 10%
Cheektowaga $2,222 -4%
Tonawanda $2,030 -13%
Binghamton $1,479 -36%
Far Rockaway $4,886 111%

Cost of living in New York and car insurance

When shopping for the best car insurance rates in New York, it’s important to factor in your other expenses so that you’re looking at your total living costs. The graph below shows the average annual cost of living in New York, including the average cost of car insurance. Use this graph as a guide to help determine your overall expenses so that you can decide what insurance rates fit in your budget.

New York car insurance rates by age

Age has a major influence on how much you pay. The younger the age, the greater the risk of being involved in an accident, according to the CDC. The older you get, the risk decreases and so do your premiums.

Age Average annual premium in New York
Age 16 $3,574
Age 17 $3,182
Age 20 $4,829
Age 22 $3,459
Age 25 $2,799
Age 30 $2,469
Age 35 $2,425
Age 40 $2,385
Age 60 $2,142

*16-year-old and 17-year-old calculated on parent’s policy disclosure

New York car insurance rates by driving record

Your premiums are impacted by your driving record. Blemishes on your record such as speeding tickets, accidents and DUIs all have a direct impact on how much more you pay.

Driving incident Average annual premium in New York % increase in average annual premium
Speeding ticket $2,547 9.73
Accident $2,628 13.22
DUI $4,307 85.56

How to save on car insurance in New York

While New York may be one of the most expensive states for auto insurance, fortunately there are numerous opportunities to save on your auto insurance premiums.

  • Shop around: Comparing one carrier to another is often the best way to save on your car insurance premiums.
  • Discounts: Each carrier has its own list of discounts for you to take advantage of. From bundling policies to making good graces, there is a wide variety of discounts available.
  • Improve your credit score: Your credit is directly linked to how much you pay for your premiums. The higher your credit score, the lower your premiums.
  • Increase your deductible: Your deductible is the amount you are responsible for out of pocket. If you have a low deductible, your premiums will increase. By raising your deductible, you lower your premiums by as much as $500 annually.

New York car insurance requirements

New York requires the following minimum insurance coverages:

  • $10,000 property damage liability per single accident
  • $25,000 for bodily injury liability for one person and $50,000 for bodily injury to all persons
  • $50,000 for bodily injury and $100,000 for death for two or more people in an accident
  • $50,000 mandatory no-fault coverage, or personal injury protection (PIP)
  • Uninsured motorist coverage: $25,000 per person and $50,000 for all persons

While New York requires more minimum coverage than other states, you should still think twice before only selecting the bare minimum. For instance, the $50,000 for bodily injury liability would likely not be enough to cover multiple injuries if you were involved in a multi-car accident with serious injuries.

Frequently asked questions

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 PIP insurance on your policy, along with the other minimum requirements.

What is the best car insurance company in New York?

To find the best car insurance company for your circumstances, you should review several key points among the various carriers. The financial strength, customer service ratings, quality of digital assets and coverage options are all important factors. Bankrate reviewed these points as well and found New York Central Mutual and USAA were all high-ranking.

How do I find cheap car insurance in New York?

Rates are based on a variety of factors, not only your location, but also your driving record, vehicle, age, gender, credit score and coverage choices. To find cheap car insurance, compare multiple carriers and review all available discounts from each one. Bankrate has reviewed several quotes and found Geico and Main Street Mutual offer some of the lowest rates for New York drivers.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a male and female driver with a good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

Driving record 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.

Age rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied.

Written by
Sara Coleman
Insurance Contributor
Sara Coleman has three years of experience in writing for insurance domains such as Bankrate, The Simple Dollar, Reviews.com, Coverage.com and numerous other personal finance sites. She writes about insurance products such as auto, homeowners, renters and disability.