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Cheapest car insurance in New York for 2024

Based on Bankrate's research, drivers in the Empire State may find the cheapest rates from companies including Progressive, Geico and Erie.

Updated Feb 09, 2024
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The cheapest car insurance companies in New York

New York drivers tend to pay more than drivers in other states for auto insurance. Nationwide, car insurance costs an average of $741 for minimum coverage and $2,545 for full coverage. In the Empire State, however, the minimum average premium is more than double the national average at $1,661 per year, while full coverage averages $3,848. To help drivers save money, Bankrate's insurance editorial team, which includes licensed agents, did the legwork to figure out which insurers are offering some of the cheapest car insurance in New York.

Key takeaways

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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 minimum amount of liability insurance to drive legally. On top of liability coverage, 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 $1,661.  By assessing average rates from Quadrant Information Services, Bankrate found several carriers offering average coverage that is lower than the state average.

Insurance Company Average monthly premium Average annual premium Savings vs state avg. for min coverage
$111
$1,327
- $334
$114
$1,365
- $296
$131
$1,578
- $83
$136
$1,638
- $23
$140
$1,676
+ $15

Minimum coverage requirements for New York drivers

Per New York law, your car insurance policy must have at least the following coverage types and limits:

  • $25,000 bodily injury liability and $50,000 death for one person
  • $50,000 bodily injury liability and $100,000 death for two or more people
  • $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.

In August 2023, a new state law went into effect requiring minimum coverage requirements to include spousal liability coverage for all drivers — even single ones. Drivers who do not wish to have this coverage may opt out of it in writing.

Electing to purchase the minimum required coverage is one way to get cheap car insurance in NY, but some drivers may not have the option to do so. If you have a loan or lease on your vehicle, your financial institution may require you to carry higher coverage limits than what your state legally mandates.

Cheapest car insurance in New York for full coverage

Full coverage policies typically consist of the state's minimum requirements, plus collision and comprehensive coverage. These insurance types provide more robust financial protection in the event of an accident or another vehicle mishap like theft, vandalism and weather-related damage. The average annual cost of full coverage in New York is $3,848. Below, Bankrate identified a handful of insurers offering competitive average rates for full coverage in NY.

Insurance Company Average monthly premium Average annual premium Savings vs state avg. for full coverage
$190
$2,275
- $1,573
$264
$3,163
- $685
$295
$3,540
- $308
$310
$3,721
- $127
$325
$3,906
+ $58

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 best rate and has discounts that apply to you can help you find cheap insurance in New York — even if you have a few dings on your license.

Cheapest insurance company for drivers in New York with a speeding ticket: Progressive

A speeding ticket in New York is likely to cause an increase in your insurance premium, in addition to fines, fees and other potential state-imposed penalties. The exact increase will vary depending on your insurer, so it might pay to shop around with other insurers after getting a ticket.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,346
$2,305
$1,429
$3,906
$1,687
$3,553
$1,852
$4,588
$1,892
$5,319

Cheapest insurance company for drivers in New York with an at-fault accident: Progressive

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 likely be paid for from your collision insurance, after you pay your deductible. Your insurance rate will probably 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.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,347
$2,318
$1,429
$3,906
$1,578
$3,163
$1,852
$4,588
$1,942
$3,960

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 significantly more for car insurance. You may even find that your insurer will not renew your policy after a DUI conviction.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,368
$2,348
$2,554
$5,131
$2,556
$6,099
$2,791
$5,591
$3,158
$8,525
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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: Chubb

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.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,948
$4,632
$2,219
$6,104
$2,507
$4,758
Preferred Mutual
$2,646
$11,453
$2,959
$7,591
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Bankrate’s take: We collected rates for 16-year-old drivers on their parents’ policy. Teens pay more for insurance than older drivers, in part, 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: Progressive

A young driver with a speeding ticket conviction is likely to pay higher-than-average rates for car insurance. In this case, gathering quotes from several insurers to compare or taking a defensive driving course (as it may earn you a discount) could be beneficial. When searching for competitive rates, consider the companies below:

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$2,923
$5,800
$3,920
$11,249
$4,182
$10,420
Preferred Mutual
$4,240
$16,062
$4,316
$8,902

Cheapest car insurance for young drivers with an at-fault accident: Progressive

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. Based on Bankrate’s research, the companies below offer more reasonable average rates for teen drivers with an accident on their records.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$2,923
$5,799
$3,930
$11,258
$3,958
$7,785
$4,206
$10,282
Preferred Mutual
$4,240
$16,011
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Bankrate’s take: New York is one of the 12 no-fault states. This means that no matter who caused the collision, each driver must rely on their own insurance policy for their medical expenses — which is why New York drivers are required to carry personal injury protection (PIP) as a part of their car insurance policy. Despite what the name “no-fault” suggests, the driver who caused the accident is most likely still on the hook for property damage. The “fault” here pertains to which party pays for medical injuries and lost wages.

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.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,997
$3,954
Preferred Mutual
$3,610
$14,105
$3,864
$9,133
$3,874
$8,005
$4,058
$9,559

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. New Yorkers looking for cheap car insurance may want to consider collecting quotes from some of the car insurance companies below.

Cheapest cities overall for car insurance Pennsylvania 

Yonkers
City average annual min coverage premium
$1,493
Cheapest car insurance carrier
Progressive
Company average annual premium
$1,143
Bayville
City average annual min coverage premium
$1,495
Cheapest car insurance carrier
Geico
Company average annual premium
$1,152
Oyster Bay
City average annual min coverage premium
$1,505
Cheapest car insurance carrier
Geico
Company average annual premium
$1,152
Glen Cove
City average annual min coverage premium
$1,509
Cheapest car insurance carrier
Geico
Company average annual premium
$1,152
Sea Cliff
City average annual min coverage premium
$1,511
Cheapest car insurance carrier
Geico
Company average annual premium
$1,152

Cheapest car insurance in larger cities in New York

Oyster Bay
City average annual min coverage premium
$1,505
Cheapest car insurance carrier
Geico
Company average annual premium
$1,152
Islip
City average annual min coverage premium
$1,571
Cheapest car insurance carrier
Progressive
Company average annual premium
$1,210
Babylon
City average annual min coverage premium
$1,595
Cheapest car insurance carrier
Progressive
Company average annual premium
$1,232
New York
City average annual min coverage premium
$1,712
Cheapest car insurance carrier
Geico
Company average annual premium
$1,212
Hempstead
City average annual min coverage premium
$2,029
Cheapest car insurance carrier
Progressive
Company average annual premium
$1,592

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 premiums, discounts may help. Most insurers have at least a few discounts available for policyholders. Here are some 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

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carriers reviewed
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ZIP codes examined
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quotes analyzed

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2024 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
  • $ ,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 2022 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.

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Written by
Mary Van Keuren
Contributor, Insurance

Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.

Edited by Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute