In New York state, the average cost of car insurance is $974 a year for minimum coverage, and $2,205 yearly for full coverage in New York. This puts New York in 3rd place for most expensive states, behind Michigan in 2nd, and Florida, which tops the list.
Like most states, car insurance is legally required in New York, whether you live in the Big Apple or the Adirondacks. However, you can still find cheap car insurance in New York if you’re on a budget by comparing average rates from top providers.
The cheapest car insurance in New York
As of 2018, nearly 12,194,360 licensed drivers fill the streets in New York. As a result, dozens of car insurance companies operate in New York — some more expensive than others.
Bankrate researched to find and compare the cheapest car insurance companies in New York, including average rates for each provider based on data from Quadrant Information Services. The table below indicates the cheapest car insurance companies in New York for your comparison.
|Insurance company||Average minimum coverage||Average full coverage|
|Main Street America||$304||$761|
|Utica National Insurance Group||$695||$5,075|
Geico is one of the cheapest insurance companies in New York and across the country. In addition to low prices, Geico offers a ton of great discounts for all types of drivers. For instance, safe drivers, good students, military personnel and federal employees qualify for savings. You can also save money by having certain vehicle safety equipment in your car, like anti-lock brakes, airbags and daytime running lights.
Main Street America has one of the cheapest average minimum coverage car insurance rates for drivers in New York. With comprehensive coverage and collision coverage, medical expense coverage, bodily injury, and property damage liability coverage, Main Street America offers a well-rounded selection of protection for you and your vehicle. The insurance company offers additional coverage options that include new car replacement, accident forgiveness, roadside assistance, gap insurance, and full safety glass. In addition to extensive coverage features and low rates, Main Street America is a popular choice for New Yorkers because of the various discounts to further save on costs.
Preferred Mutual offers well-rounded car insurance coverage with optional add-ons for personal injury protection (PIP), accident forgiveness, roadside assistance with rental car insurance. Discounts that include savings for defensive drivers, good students, and AAA members. You can save when you have multiple policies, such as your homeowners, renters, condo or mobile home insurance policy. As a smaller company, it only services four states, including new york, providing personalized service with local agents.
When you think about Progressive, you probably think about Flo, the brand’s iconic spokeswoman who stars in their advertisements. You might not know that Progressive’s car insurance rates are surprisingly affordable. In fact, drivers can save an average of over $750 when they switch to Progressive, according to the provider. The average New Yorker will spend $1,102 per year on a full coverage car insurance policy from Progressive. The company’s signature Snapshot program rewards safe drivers with a lower premium (about $145 savings, on average). Drivers can also use the Name Your Price Tool to see the best coverages within their budget. In addition to some basic discounts, Progressive also has a deductible savings bank, where drivers can lower their premium by $50 for each policy period without a claim or traffic violation.
New Yorkers may find Utica National Insurance Group an attractive insurance company because of comparable premiums, great customer service, and an extensive list of add-on coverages. Utica offers a unique customer service experience through its customer care portal, which can be beneficial for drivers who prefer step-by-step customer support. Own a pet? Some of Utica National Insurance Group’s auto policies will also cover up to $750 of vet costs for pet injuries related to auto accidents. Another great benefit of Utica National Insurance Group is the flexibility and adaptability of insurance premiums based on drivers’ life changes.
Affordable coverage for New York drivers
Every state requires drivers to carry a minimum amount of car insurance—New York is no different. New York is also considered a no-fault state, which means New York drivers have to carry Personal Injury Protection (PIP).
Here are the minimum car insurance requirements in New York:
- Property damage liability: $10,000 for a single accident
- Bodily injury liability: $25,000 for bodily injury for one person and $50,000 for bodily injury to all persons.
- Mandatory no-fault coverage: $50,000
- Bodily injury liability: $50,000 for bodily injury and $100,000 for death for two or more people in an accident
- Uninsured motorist coverage: $25,000 per person and $50,000 for all persons.
Purchasing the minimum amount of insurance means you’ll pay the lowest rate. However, you shouldn’t assume that New York’s minimum car insurance requirements are enough to cover the full cost of a claim. If you get involved in an accident, it’s possible that the cost of the claim will exceed your coverage limits. In that case, you would have to pay out-of-pocket to cover the difference.
Because of that, choosing the minimum amount of car insurance is not the best way to keep your rate low. In fact, it could cost you more money in the long run if you have to file a claim that your insurance doesn’t fully cover.
How to get cheap car insurance in New York
If you’re looking to keep your car insurance rate low, you have a few options:
- Take advantage of discounts: Make sure you’re taking advantage of all the discounts you are eligible for. Most insurance companies offer savings for drivers who take a defensive driving course, pay their premium in full and sign up for paperless billing statements.
- Improve your credit score: Your credit score is one of the main factors that influences your rate. If you can increase your credit score, even by a few points, there’s a good chance you can lower your premium.
- Increase your deductible: Your deductible is the amount of money you’re required to pay out-of-pocket towards a loss. The higher your deductible, the lower your monthly payments will be. Just make sure you can afford a higher deductible before you change it.
- Shop around: Arguably, the best way to get cheap car insurance is to make sure you’re paying the lowest rate to begin with. Shop around and get quotes from a few providers to see what they’ll offer you.
These simple steps can help reduce your premiums.
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. Most drivers choose a car insurance company that offers affordable rates, great customer service or customizable coverage, depending on needs and preferences. Before you settle on a provider, it’s important to do some research to find a company that checks all the boxes for you personally.
How much does car insurance in New York cost?
The average cost of car insurance in New York state is $2,321 for full coverage and $1,062 a year for minimum coverage. However, the actual rate you’ll pay depends on factors like your age, credit score, zip code, the car you drive and the car’s value, among other variables.
Is car insurance required in New York?
Yes, car insurance is legally required in New York. If you’re caught driving without insurance, there can be serious consequences. New York drivers must carry a minimum amount of bodily injury liability, uninsured motorist, and property damage coverage. Because New York is a no-fault state, drivers also have to carry Personal Injury Protection (PIP) insurance.
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.
Bankrate utilizes Quadrant Information Services to analyze 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 sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.