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Car insurance can be costly if you live in the Bronx. For instance, Bronx drivers pay an average of $4,492 per year, or $374 per month, for full coverage auto insurance. Meanwhile, the national average is $2,014 per year for full coverage car insurance. However, shopping around to compare quotes may help you find the best rate for your circumstances. According to a Bankrate survey, the cheapest insurers in the Bronx include American Family, Progressive and Geico.
Best cheap car insurance companies in Bronx
New York offers a multitude of options for car insurance, and the Bronx is no exception. While these rates are higher than the national average, they are competitive in New York. Bankrate evaluated the market, searching for car insurance companies that offer affordable rates as well as a variety of coverage options and discounts. We also looked for carriers with the historical financial strength to back claims obligations and those that ranked highly in J.D. Power’s 2023 U.S. Auto Insurance Study. Based on rate data provided by Quadrant Information Services, we determined that American Family, Progressive and Geico offer some of the lowest rates for Bronx car owners.
Our editorial team produced a Bankrate Score for each carrier using a 5-point scale. In addition to the metrics above, we assessed each provider’s availability, customer service history and endorsements. We also looked for insurers that offer online and mobile tools that enable policyholders to manage their policies and claims virtually. Here is what we found.
|Insurance company||Bankrate Score||J.D. Power score (New York)||Average annual premium for full coverage||Average annual premium for minimum coverage|
|American Family||3.8||Not rated||$1,333||$606|
*Not eligible for official ranking with J.D. Power due to eligibility restrictions.
Although American Family did not make the cut in J.D. Power’s car insurance study, the provider offers some of the lowest average full and minimum coverage rates on our list. Along with all standard auto insurance coverage types, AmFam offers optional accidental death and dismemberment, emergency road service, gap insurance and rental car reimbursement. Policyholders could save on their premium with potential discounts for new customers, early quotes and even for drivers under 25 who complete 40 hours of volunteer work with a nonprofit. Drivers who move frequently should note that American Family only offers coverage in 19 states.
Learn more: American Family Insurance review
Founded in 1937, Progressive is the third-largest auto insurance provider in the country. Along with all standard auto insurance coverage types, the insurer offers a few optional endorsements, including custom parts and equipment coverage, gap insurance, rental car reimbursement and rideshare coverage. Progressive offers an array of potential savings opportunities, including automatic payment, good student, homeowner, multi-car, multi-policy and paperless billing discounts. Progressive puts you in the driver’s seat with its Name Your Price Tool, which enables you to shop for car insurance based on your budget. However, Progressive earned a below-average New York customer satisfaction score in the J.D. Power study.
Learn more: Progressive Insurance review
Geico is currently the second-largest provider in the country, based on auto insurance market share. In the J.D. Power study, Geico earned an above-average customer satisfaction score, and has achieved the highest AM Best financial strength rating of A++ (Superior). The carrier offers a variety of discounts, including discounts for military members and employees or members of participating companies and organizations. Geico is one of the cheapest carriers, on average, for policyholders adding a young driver to their policy, but it only offers three add-on coverage options. While Bronx car owners can purchase auto insurance over the phone or online, Geico does not operate a Bronx office.
Learn more: Geico Insurance review
Erie is a regional provider that only operates in 12 states, including New York. Besides all standard car insurance coverage types, Erie customers can also purchase optional pet coverage, new car protection and ridesharing coverage. Erie did not earn a New York score in the 2023 J.D. Power survey but ranked highly in other regions. The carrier gives policyholders numerous ways to reduce their premiums, with potential discounts for young drivers, vehicle storage and multi-policy. The company also offers its Rate Lock feature, which may help keep your rates stable year after year. Erie does not offer online quotes, but you can request quotes and buy coverage through numerous independent insurance agents in the state.
Learn more: Erie Insurance review
Although USAA earned the highest unofficial customer satisfaction score in the New York region of the J.D. Power study, the carrier only sells auto insurance to members of the U.S. Armed Forces, veterans and their spouses and children. Among our top picks, USAA has some of the highest average full coverage and minimum coverage Bronx rates, but the provider offers customers several ways to potentially reduce their premiums. These include discounts for vehicle storage, safe driving and bundling. USAA does not offer as many endorsements as some of the carriers on this list, but it does offer optional roadside assistance and rental car reimbursement.
Learn more: USAA Insurance review
How to get and keep the cheapest car insurance in Bronx
Finding cheap car insurance in the Bronx might seem daunting, but Bankrate has narrowed the field to help you make an informed choice. When shopping for car insurance, Bronx drivers may find more affordable rates with these tips:
- Compare quotes: Requesting auto insurance quotes from several insurers could allow drivers to better compare coverages, discounts and rates.
- Take advantage of discounts: Looking for carriers with applicable discounts could help you lower your premium. For instance, if you have a teenage driver on your policy, you might look for providers that offer good student discounts.
Your car insurance rate may increase over time, but these steps may help you keep your premiums low:
- Avoid accidents and tickets: Insurers may see you as more likely to file a claim if you have accidents and traffic tickets on your driving record. Plus, safe driving habits may make you eligible for safe driver discounts.
- Maintain your credit score: New York car insurance companies are legally allowed to use your credit-based insurance score to determine your rates. Maintaining a high score may help you keep your premium low.
Frequently asked questions
The best insurance company may be different for everyone. Every driver has unique needs and priorities when it comes to insurance. For example, one driver might be looking for a company with solid digital tools, while another might want the cheapest price possible. Most insurance professionals recommend comparing quotes from several providers to find the best coverage options and price for you.
The average cost of car insurance in the Bronx is $2,007 per year for minimum coverage and $4,492 for a full coverage policy. However, rates may be highly dependent on personal factors such as your age, vehicle, annual mileage, driving history and the coverages you choose.
Between January 2022 and October 2022, the New York Police Department (NYPD) reported more than 8,100 stolen vehicles in the greater New York City area. The NYPD also recorded more than 1,400 traffic collisions in September 2022 alone. These factors could be, in part, why auto insurance rates in the Bronx are much higher than average. New York is also a no-fault state, meaning that all drivers are required to carry personal injury protection (PIP) coverage. This may raise the cost of minimum coverage auto insurance.
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, 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 coverage that meets each state’s requirements. Our base profile drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.