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Cheapest car insurance in New York for 2023
Based on Bankrate's research, drivers in the Empire State may find the cheapest rates at companies including Preferred Mutual, Geico and Progressive.
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The cheapest car insurance companies in New York
New York drivers tend to pay more than the average for car insurance. Nationally, drivers pay an average of $622 for minimum coverage and $2,014 for full coverage, annually. In the Empire State, however, the annual minimum average rate is more than double the national rate, at $1,371, while full coverage averages $3,139 annually. Bankrate's insurance editorial team, which includes licensed agents, did the legwork to determine the cheapest car insurance in New York to help you choose a policy that fits your budget, no matter your circumstances. These carriers include Preferred Mutual, Progressive and Geico, among others.
Key takeaways
- Cheapest company for minimum coverage: Preferred Mutual
- Cheapest company for full coverage: Progressive
- Cheapest company for drivers with prior incidents: Preferred Mutual and Progressive
- Cheapest company for young drivers: Geico and Utica National
Compare auto insurance rates
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Cheapest car insurance in New York for minimum coverage
Like most states, New York requires drivers to carry a certain minimum amount of liability insurance to drive legally. The state also requires uninsured motorist coverage and — because it is a no-fault state — personal injury protection. Purchasing minimum coverage is generally the cheapest option when buying insurance, but this is because it offers the least amount of financial protection. In New York, the average annual cost of minimum coverage is $1,371. Through assessing average rates from Quadrant Information Services, Bankrate found several carriers offering average coverage that is lower than the state average.
| Carrier | Monthly min coverage premium | Annual min coverage premium | Savings vs state avg. for min coverage |
|---|---|---|---|
|
Preferred Mutual
|
Monthly min coverage premium
$74
|
Annual min coverage premium
$889
|
Savings vs state avg. for min coverage
- $482 |
|
Monthly min coverage premium
$75
|
Annual min coverage premium
$902
|
Savings vs state avg. for min coverage
- $469 |
|
|
Utica National
|
Monthly min coverage premium
$78
|
Annual min coverage premium
$935
|
Savings vs state avg. for min coverage
- $436 |
|
Monthly min coverage premium
$96
|
Annual min coverage premium
$1,146
|
Savings vs state avg. for min coverage
- $225 |
|
|
Monthly min coverage premium
$101
|
Annual min coverage premium
$1,215
|
Savings vs state avg. for min coverage
- $156 |
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Minimum coverage requirements for New York drivers
In New York, your car insurance policy must have at least the following coverage types 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
According to the Insurance Information Institute (Triple-I), New York has the third-lowest estimated percentage of uninsured drivers in the U.S at 4.1 percent. 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. Supplemental coverage is available at minimum limits or higher limits and provides coverage outside of the state. Supplemental uninsured motorist coverage also includes underinsured motorist coverage.
Most insurance experts recommend that you purchase higher liability limits than the state minimum if you can afford to do so. 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 be financially devastating. Additionally, if you have a loan or lease on your vehicle, your lender or lessor will likely require you to carry full coverage.
Cheapest car insurance in New York for full coverage
Full coverage consists of the state's minimum requirements plus the addition of collision and comprehensive coverage to your policy. It provides more robust protection in the event of an accident or other vehicle mishap, with coverage that would pay for repairs or replacement to your car as well as the other driver's vehicle. The average annual cost of full coverage in New York is $3,139. Bankrate's analysis identified a handful of insurers offering average rates that were considerably below this, including American Family, Progressive and Geico.
| Carrier | Monthly full coverage premium | Annual full coverage premium | Savings vs state avg. for full coverage |
|---|---|---|---|
|
Monthly full coverage premium
$162
|
Annual full coverage premium
$1,942
|
Savings vs state avg. for full coverage
- $1,197 |
|
|
Monthly full coverage premium
$205
|
Annual full coverage premium
$2,461
|
Savings vs state avg. for full coverage
- $678 |
|
|
Monthly full coverage premium
$206
|
Annual full coverage premium
$2,468
|
Savings vs state avg. for full coverage
- $671 |
|
|
Monthly full coverage premium
$241
|
Annual full coverage premium
$2,888
|
Savings vs state avg. for full coverage
- $251 |
|
|
Monthly full coverage premium
$279
|
Annual full coverage premium
$3,353
|
Savings vs state avg. for full coverage
+ $214 |
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Cheapest car insurance in New York for drivers with prior accidents
Generally, drivers with clean driving records pay the lowest average premiums for their policies. However, if you have a past infraction on your record, it is possible to find affordable coverage by shopping around. Requesting quotes from several companies to see which one offers you the cheapest rate and taking advantage of all available discounts can help you find cheap car insurance in New York if you have a few dings on your license.
- Cheapest car insurance for drivers with a ticket: Preferred Mutual
- Cheapest car insurance for drivers with an at-fault accident: Preferred Mutual
- Cheapest car insurance for high-risk drivers: Progressive
Cheapest insurance company for drivers in New York with a speeding ticket: Preferred Mutual
A speeding ticket in New York is likely to cause an increase in your insurance premium, in addition to the penalties you will owe the state for a speeding ticket conviction. According to Bankrate's research, a single New York speeding ticket conviction increases your rate by an average of eight percent, but the exact increase will vary depending on your insurer. Regional insurers Preferred Mutual and Utica National, as well as larger carriers like Geico offer the lowest average rates to drivers with a speeding ticket in the state.
| Company | Avg annual min coverage premium | Avg annual full coverage premium |
|---|---|---|
| Preferred Mutual | $889 | $5,617 |
| Utica National | $935 | $4,416 |
| Geico | $944 | $2,583 |
| Progressive | $1,160 | $1,966 |
| Erie | $1,292 | $2,740 |
Cheapest insurance company for drivers in New York with an at-fault accident: Preferred Mutual
An accident is stressful enough on its own, but if you are found to be partially or fully at-fault in the accident, you may face fines and other penalties in New York. If you have full coverage, the damage to your car would be paid for from your collision insurance, after you pay your deductible. You are likely to see your insurance rate increase when it's time to renew your policy after an at-fault accident, but getting a policy from one of the insurers below could help you save. Preferred Mutual's rates were the lowest of any insurer on our list for drivers with an at-fault accident on their record.
| Company | Avg annual min coverage premium | Avg annual full coverage premium |
|---|---|---|
| Preferred Mutual | $890 | $6,113 |
| Utica National | $936 | $4,416 |
| Geico | $944 | $2,583 |
| Progressive | $1,161 | $1,975 |
| State Farm | $1,471 | $2,888 |
Cheapest rates in New York for high-risk drivers: Progressive
A high-risk driver in New York can be anyone with one or more infractions on their driving record. The most serious of these is a DUI. A single DUI conviction in New York comes with multiple penalties, including potential jail time for repeated offenses. In addition to these penalties, you are likely to pay an increased insurance rate. You may even find that your insurer no longer will write you a policy after a DUI conviction. As a high-risk driver, insurers worry that you are more likely to file claims, and therefore usually charge you significantly more for the increased risk. Progressive, Geico and USAA may be good options to consider for high-risk insurance.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| Progressive | $1,179 | $2,002 |
| Geico | $2,075 | $5,587 |
| USAA | $2,115 | $5,046 |
| Utica National | $2,156 | $8,454 |
| Erie | $2,339 | $4,655 |
Bankrate’s take: If you have driving infractions in a state other than New York, you may be familiar with SR-22 insurance requirements. This certificate must be filed in most states by your insurance company to prove that you have at least the minimum required amount of car insurance. You may need to do this if you've had your license suspended and then reinstated. New York is one of the few states that does not require SR-22s although all drivers, whether they are high-risk or not, are required to carry the state's minimum required car insurance.
Cheapest car insurance for young drivers in New York
Although not all states allow age as a rating factor, New York does permit insurers to consider a driver's age when determining their policy rate. Since young drivers are statistically more likely to be involved in an accident, the increased risk means they will probably pay more than the average for their car insurance. Although finding cheap insurance in NY for a teen driver can be a challenge, Bankrate found some insurers offering below-average rates for young drivers.
- Cheapest New York car insurance for insuring a teen driver: Geico
- Cheapest car insurance for teens with a ticket: Utica National
- Cheapest car insurance for teens with an at-fault accident: Utica National
- Cheapest car insurance young drivers with a DUI: Progressive
Cheapest New York car insurance for insuring a teen driver: Geico
Teens often have high rates for insurance because of the higher likelihood they will be involved in accidents. However, it is possible to find affordable coverage. Discounts for teen drivers and student drivers can help lower rates for young drivers, whether or not they have a spotless driving record. Geico leads our list in offering the lowest average rates for teen drivers.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| Geico | $1,449 | $3,951 |
| Utica National | $1,590 | $6,583 |
| Preferred Mutual | $1,658 | $7,605 |
| Chubb | $1,697 | $3,912 |
| Progressive | $2,197 | $4,129 |
Bankrate’s take: We collected rates for 16-year-old drivers on their parents’ policy. Teens traditionally pay more for their insurance than older drivers because they lack experience behind the wheel, and thus are more likely to be involved in fender-benders or more serious accidents. Some teens may make poor choices, too, such as texting while driving. Research by the National Highway Traffic Safety Administration indicates that texting while you drive increases the risk of an accident by 23 times. Due to these factors, teen drivers tend to file more claims than other age groups, causing insurers to charge higher rates for their policies.
Cheapest car insurance for young drivers with a ticket: Utica National
A young driver with a speeding ticket conviction is likely to pay higher than average rates for their car insurance. In this case, they may be able to save some money on their policy by shopping around and taking a defensive driving course. Utica National came in with the lowest average rates for teens with a speeding ticket conviction on their driving record.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| Utica National | $2,465 | $9,971 |
| Progressive | $2,507 | $4,906 |
| Geico | $2,938 | $8,248 |
| Erie | $3,281 | $6,863 |
| Chubb | $3,553 | $8,716 |
Cheapest car insurance for young drivers with an at-fault accident: Utica National
A young driver who has been found at fault in an accident may be placed in a higher risk category, making finding an affordable provider more challenging. Utica National, Progressive and Geico all had more reasonable average rates for teen drivers with an accident on their records.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| Utica National | $2,140 | $8,894 |
| Progressive | $2,507 | $4,906 |
| Geico | $3,014 | $8,451 |
| Erie | $3,817 | $7,645 |
| Travelers | $3,881 | $9,676 |
Cheapest car insurance for young drivers with a DUI: Progressive
Because young drivers are naturally higher risk to insure due to their limited driving experience, having a high-risk incident like a DUI on their driving record would only amplify their high-risk profile. This would not only make car insurance more expensive, but may even make securing standard car insurance more difficult as not all insurers will write policies for drivers with a DUI. The following carriers may be able to offer more affordable coverage for young drivers who qualify.
| Company | Avg. annual min coverage premium | Avg. annual full coverage premium |
|---|---|---|
| Progressive | $1,758 | $3,342 |
| Utica National | $2,605 | $9,996 |
| Geico | $2,778 | $7,634 |
| USAA | $3,240 | $7,377 |
| Erie | $3,379 | $6,882 |
Cheapest car insurance rates by city in New York
Where you live in New York may play a big role in how much you pay for your car insurance. For example, those living in urban areas may pay more in part because increased traffic could translate into a higher risk of accidents. Living in a high-crime area may also increase your rate as a result of the increased possibility of theft claims. Residents in the cities below pay some of the cheapest average rates for car insurance in New York.
| City | City average annual premium | City avg. annual savings vs state average |
|---|---|---|
| Bayville | $1,247 | -$124 |
| Glen Cove | $1,255 | -$116 |
| Oyster Bay | $1,255 | -$116 |
| Sea Cliff | $1,257 | -$114 |
| Yonkers | $1,238 | -$133 |
*for minimum coverage policies
| City | City average annual premium | City avg. annual savings vs state average |
|---|---|---|
| Bethpage | $2,810 | -$329 |
| Greenlawn | $2,784 | -$355 |
| Huntington | $2,808 | -$331 |
| Islip | $2,781 | -$358 |
| Islip Terrace | $2,780 | -$359 |
*for full coverage policies
Car insurance discounts in New York
If you are wondering how to save on car insurance in New York, which tends to have high average car insurance premiums, discounts may help you save. Most insurers have at least a few discounts available for policyholders. Here are a few of the more common ones.
- Bundling: You might save on your premium if you carry multiple insurance policies, like auto and home, with the same carrier.
- Safety features: Newer cars generally have more safety features like multiple airbags and antilock brakes. Insurers may reward these risk-mitigating features with a discount. Anti-theft devices may also earn a discount.
- Defensive driving course: In many places, including New York, you may save money on your insurance by taking a defensive driving course every few years.
- Student discounts: Young drivers may earn a discount if they maintain a high GPA or attend school away from home and do not bring a vehicle.
- Organizational discounts: Some insurers will take a percentage off your premium if you belong to organizations such as alumni groups or professional associations.
- Military discounts: Carriers may extend a discount if you are an active or retired military member.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for 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 2021 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.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.
Teens: Rates were determined by adding a 16-year-old teen to a 40-year-old married parent’s policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.
Age: Rates were calculated by evaluating our base profile with the ages 18 and 21 applied. Drivers are renters on their own policy. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Bankrate Scores
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.