Cheapest car insurance in New York

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Based on Bankrate’s research, Main Street America offers the cheapest minimum coverage car insurance in New York, with an average annual premium of $304. But if you are looking for more robust coverage, there are a few ways to find cheap car insurance companies. We also found that Main Street America also offers the cheapest full coverage in New York, with an average premium of $761 per year.

On average, New York drivers pay $1,062 per year for minimum coverage and $2,321 per year for full coverage, according to Bankrate’s 2021 study of quoted annual premiums. Like most states, New York requires its residents to maintain certain minimum car insurance coverage levels. Just because car insurance is a necessary expense if you own a vehicle does not mean you can’t find ways to save. If you are looking for cheap car insurance in New York, Bankrate’s research may help you find a policy that fits your budget.

The cheapest car insurance companies in New York

To find the cheapest auto insurance in New York, Bankrate partnered with Quadrant Information Services to obtain up-to-date premium information for the largest auto insurance providers by market share. Additionally, we reviewed each company’s J.D. Power customer satisfaction ratings and AM Best financial strength scores to showcase carriers with more to offer than simply low prices.

The cheapest companies for minimum coverage in New York

“Minimum coverage” refers to purchasing only the state-required coverages and limits. While buying just minimum coverage could help keep your insurance costs low, most insurance professionals advise that you purchase higher limits for greater financial protection.

If you are looking for minimum coverage car insurance in New York, these are some of the cheapest companies, based on our research:

Car insurance company Minimum coverage premium (annually) Minimum coverage premium (monthly)
Main Street America Group $304 $25
Preferred Mutual $577 $48
Progressive $695 $58
Utica National $695 $58
Erie $773 $64

The cheapest companies for full coverage in New York

Full coverage generally costs more than minimum coverage because it adds more financial protection to your policy. Full coverage includes both comprehensive and collision, which cover damage to your vehicle from a variety of situations. When it comes to full coverage, these five carriers are among the cheapest in New York:

Car insurance company Full coverage premium (annually) Full coverage premium (monthly)
Main Street America Group $761 $63
Progressive $1,139 $95
Erie $1,629 $136
Geico $1,969 $164
USAA $2,137 $178

Events that can impact your cheap rates in New York

Because car insurance premiums are based on your individual rating factors, your premium and coverage needs could change when your life changes. You might consider a new provider for your auto insurance policy or updating your coverages if you have recently:

  • Added a teen driver: Teen drivers are inexperienced and insurance companies tend to charge relatively high premiums to compensate. However, you can take steps to lower your premium. Getting quotes from several carriers and taking advantage of student discounts could help you find a cheaper rate.
  • Received a speeding ticket: Speeding tickets are relatively common, but insurance companies still view citations as an indication of high-risk driving behavior. If you get a speeding ticket, your premium will likely increase for three to five years, depending on the company. Your speed over the limit could also impact your premium increase.
  • Involved in an at-fault accident: Similar to tickets, at-fault accidents also increase your premium for an average of three to five years. If your premium has been impacted by an at-fault accident, you might consider getting quotes from other insurance companies or re-evaluating your discounts to ensure you are taking advantage of all your savings opportunities.
  • Been deemed a high-risk driver: Each insurance company has its own metric for what constitutes a high-risk driver. Most providers view accidents, tickets or a DUI conviction on your record to mean you are a high-risk driver. Although your options could be more limited — you may not be eligible for insurance with some companies — you might benefit from getting quotes.

Cheapest cities in New York for minimum coverage

The cost of your New York car insurance will vary based on your city and even your ZIP code. Densely populated areas like New York City and boroughs like the Bronx tend to have more cars on the road, meaning the risk of accidents is naturally higher. Because of this, urban areas tend to have higher average premiums.

If you live in one of the following five cities, you may pay some of the cheapest rates for minimum coverage in the state:

City Minimum coverage average annual premium Minimum coverage average monthly premium
Campbell $589 $49
Corning $592 $49
Coopers Plains $592 $49
Gang Mills $592 $49
Painted Post $592 $49

Cheapest cities in New York for full coverage

Full coverage tends to cost more than minimum coverage because it adds more financial protection. In addition to this, urban areas like Buffalo and Rochester tend to have higher costs of living, which can affect car insurance premiums. The higher cost for vehicle repairs and labor, in addition to higher medical care costs, can increase the cost of car insurance in these areas.
These five cities pay some of the lowest full coverage rates in New York state:

City Full coverage average annual premium Full coverage average monthly premium
Fairport $1,417 $118
Webster $1,417 $118
Penfield $1,428 $119
North Chili $1,438 $120
Spencerport $1,441 $120

Minimum coverage requirements for New York drivers

New York requires its drivers to carry at least certain minimum coverage limits to drive legally. In New York, your car insurance policy must have at least the following coverages and limits:

  • $25,000 bodily injury liability per person and $50,000 death per person
  • $50,000 bodily injury liability per accident and $100,000 death per accident
  • $10,000 property damage liability per accident
  • $50,000 personal injury protection (PIP)
  • $25,000 statutory uninsured motorist bodily injury liability per person
  • $50,000 statutory uninsured motorist bodily injury liability per accident

Drivers in New York have two options for uninsured motorist coverage: statutory and supplemental. Statutory coverage only applies to accidents that happen within state limits. Or you could purchase supplemental coverage, which is available in minimum limits or higher limits and provides coverage outside of the state. Supplemental uninsured motorist coverage also includes underinsured motorist coverage.

Most insurance agents recommend that you purchase higher liability limits than the state minimum. If you cause an accident and the damages and injuries exceed your insurance limit, you are responsible for the overage out of pocket, which could leave you with hefty bills. Additionally, if you have a loan or lease on your vehicle, your financial institution will likely require you to carry full coverage.

Here is how to find (and keep) cheap car insurance in New York

New York drivers do generally pay more than the national average for car insurance, but you still have ways to find cheap car insurance that fits your needs. To find affordable rates in the Empire State, you could approach a few different ways:

  • Shop around: Getting quotes from several insurance companies may be one of the best ways to find a cheaper car insurance rate. Every company has its own underwriting guidelines, coverages and discounts, so every company will offer you a different price for car insurance. Comparing quotes might help you find the coverage you are looking for at a lower price.
  • Take advantage of discounts: Most insurance companies offer discounts to their policyholders. Every company has a different list of discounts, and taking advantage of the ones you qualify for may help you save money.
  • Understand your needs: Every driver’s insurance needs are different. Understanding what coverage and other features you need from a company can help narrow your search. Knowing what you need could also help you know what optional coverages are unnecessary for your situation.

Finding cheap car insurance in New York is only the first part of your insurance journey. Once you have a policy with affordable rates, you could also take these steps to keep your premiums low:

  • Improve your credit score: Your credit score can influence your auto insurance rate. Statistically, drivers with lower credit scores are more likely to file claims, and to compensate insurance providers charge these drivers higher premiums. If you increase your credit score, you may see a reduction in your premium.
  • Occasionally shop your policy: Staying with one company for a length of time can help you earn loyalty discounts. But if your circumstances have changed, you could potentially benefit from getting quotes from other companies. The company that was the cheapest for you at one point in your life may not always be the cheapest.
  • Avoid driving incidents: Policyholders with clean driving records and safe driving habits tend to avoid the surcharge that can occur after an accident or ticket. If you can go three to five years or longer without an accident, you might even be rewarded with a claims-free discount.

Frequently asked questions

What is the best car insurance in New York?

The best car insurance company in New York is different for every driver. The company that best fits your needs may not fit the needs of someone else. Based on your coverage needs and your life circumstances, quotes from different providers will help you find the best company.

How much does car insurance in New York cost?

The average cost of car insurance in New York state is $2,321 per year for full coverage and $1,062 per year for minimum coverage. However, the actual rate you will pay depends on factors like your age, credit score, ZIP code, the car you drive, the coverages you choose and the discounts for which you qualify. Based on these aspects, your premium may be higher or lower than the state average.

Is car insurance required in New York?

Yes, car insurance is legally required in New York. If you are caught driving without insurance, there can be serious consequences. New York drivers must carry a minimum amount of bodily injury liability, property damage liability, PIP and uninsured motorist coverage. You may want to purchase higher liability limits to provide more financial protection, as well as full coverage to provide coverage for damage to your own car.

What is the NYAIP?

The NYAIP (New York Automobile Insurance Plan) is a way for high-risk drivers in New York to receive auto insurance coverage. You may purchase coverage through a broker, or you can buy directly from the Automobile Insurance Plan online or via phone.

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 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 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.

These are sample rates and should only be used for comparative purposes.

Written by
Cate Deventer
Insurance Writer & Editor
Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent.
Edited by
Insurance Editor