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Best car insurance in New York for 2023

Written by
Carol Pope
Edited by
Maggie Kempken
Reviewed by
Mark Friedlander
Updated Feb 02, 2023
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Best car insurance companies in New York

Our research, which includes a review of average annual premiums from Quadrant Information Services, found that USAA, Geico and State Farm were among the best car insurance companies in New York. Our analysis also factors in AM Best financial strength scores and customer satisfaction scores from the 2022 J.D. Power U.S. Auto Insurance Study. Most of the carriers on our list have annual premiums below the New York average of $3,139 per year for full coverage and $1,371 per year for minimum coverage and also feature a range of perks like unique coverage options and numerous discounts.

If you’re shopping for car insurance in NY, these companies could be a good place to start:

Geico
4.4
Bankrate Score
Info
J.D. Power Score (New York region)
829
/1,000
Average monthly full coverage premium
$205
Average annual full coverage premium
$2,461
USAA
4.3
Bankrate Score
Info
J.D. Power Score (New York region)
891
/1,000
Average monthly full coverage premium
$289
Average annual full coverage premium
$3,472
Progressive
4.2
Bankrate Score
Info
J.D. Power Score (New York region)
811
/1,000
Average monthly full coverage premium
$162
Average annual full coverage premium
$1,942
State Farm
4.2
Bankrate Score
Info
J.D. Power Score (New York region)
831
/1,000
Average monthly full coverage premium
$241
Average annual full coverage premium
$2,888
Allstate
3.8
Bankrate Score
Info
J.D. Power Score (New York region)
810
/1,000
Average monthly full coverage premium
$279
Average annual full coverage premium
$3,353
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Insurance Disclosure

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.

Geico
4.4
Bankrate Score
Info
J.D. Power Score (New York region)
829
/1,000
Average monthly minimum coverage premium
$75
Average annual minimum coverage premium
$902
USAA
4.3
Bankrate Score
Info
J.D. Power Score (New York region)
891
/1,000
Average monthly minimum coverage premium
$116
Average annual minimum coverage premium
$1,387
Progressive
4.2
Bankrate Score
Info
J.D. Power Score (New York region)
811
/1,000
Average monthly minimum coverage premium
$96
Average annual minimum coverage premium
$1,146
State Farm
4.2
Bankrate Score
Info
J.D. Power Score (New York region)
831
/1,000
Average monthly minimum coverage premium
$123
Average annual minimum coverage premium
$1,471
Allstate
3.8
Bankrate Score
Info
J.D. Power Score (New York region)
810
/1,000
Average monthly minimum coverage premium
$140
Average annual minimum coverage premium
$1,674
Powered by Coverage.com (NPN: 19966249)
Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
Insurance Disclosure

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.

*USAA not officially ranked by J.D. Power due to eligibility restrictions.

Best for discounts

4.4 Bankrate Score
JD Power: 829 AM Best: A++

Average annual premium

$ 2,461 for full coverage
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Why Geico made our list: Geico offers one of the most robust auto insurance discount programs in the industry. You might be able to save money if you are a federal employee, a member of the military, have certain safety features on your vehicle or have been accident-free for five years. However, Geico might not be a good fit if you are looking for a policy that can be highly personalized as the company does not offer many add-on coverage types.

Who Geico may be good for: If you value discounts and ways to save on your car insurance, you may want to consider getting a quote from Geico. Geico could also be good if you are looking for a carrier with strong digital tools, as the company has a highly-functional mobile app and online customer portal.

USAA logo

Best for military-focused coverage

4.3 Bankrate Score
JD Power: 891 AM Best: A++

Average annual premium

$ 3,472 for full coverage
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Why USAA made our list: USAA consistently earns high scores for customer satisfaction from J.D. Power, although the company does not qualify for official ranking because it only sells insurance to current and former military members and qualifying family members. Although not all drivers will qualify for USAA, those who do might enjoy exceptional customer service as well as military-tailored coverage options.

Who USAA may be good for: USAA might be a good option if you value exceptional customer satisfaction, due to the company’s consistently high scores from J.D. Power, or if you are looking for military-focused coverage options.

Best for low rates

4.2 Bankrate Score
JD Power: 811 AM Best: A+

Average annual premium

$ 1,942 for full coverage
Get a quote

Answer a few questions to see personalized rates from top carriers.

Why Progressive made our list: Progressive could be a good option if you’re looking for New York auto insurance on a budget. In addition to the company’s low rates, you may be able to save more with discounts like online quoting, sign online, paperless policy and continuous insurance. Progressive also has a robust portfolio of digital tools, which might be appealing if you like to handle your insurance online or on mobile. However, Progressive does have a lower-than-average customer satisfaction rating with J.D. Power in the New York region, which may indicate that customers tend to be unsatisfied with the service they receive.

Who Progressive may be good for: Due to Progressive’s long list of discounts and its low average rates, it may be a good company if you are seeking cheap New York auto insurance. Just remember that price isn’t everything, so make sure you take Progressive’s other attributes into account.

Best for local agencies

4.2 Bankrate Score
JD Power: 831 AM Best: A++

Average annual premium

$ 2,888 for full coverage
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Answer a few questions to see personalized rates from top carriers.

Why State Farm made our list: State Farm offers personal auto insurance as well as homeowners, renters, life insurance and banking services. If you like consolidating your policies with one company, State Farm could be one of the best insurance companies in New York. The company also has a widespread agency network, so if you are looking for a local agent, State Farm may be worth considering. State Farm also offers several discounts that might help you save.

Who State Farm may be good for: While the insurance industry is becoming increasingly digital, many drivers still prefer to handle their policies with a local agent. State Farm has a network of over 19,000 agents across the country, so chances are there is an agency near you.

Best for customizable coverage

3.8 Bankrate Score
JD Power: 810 AM Best: A+

Average annual premium

$ 3,353 for full coverage
Get a quote

Answer a few questions to see personalized rates from top carriers.

Why Allstate made our list: Allstate offers numerous optional coverage types to help you tailor your policy to your needs. You could add sound system insurance, rental reimbursement coverage or roadside assistance to build a policy that works for you. However, Allstate does have higher-than-average rates in New York State. You might be able to lower your premium by taking advantage of the company’s discounts, including savings for new cars, smart students and safe drivers.

Who Allstate may be good for: If you have custom equipment on your car or are simply looking for a car insurance company in New York that offers plenty of ways to personalize your auto insurance, you could consider Allstate.

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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.
Insurance Disclosure

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.

How Bankrate chose the best car insurance companies in New York

Finding the best car insurance in New York that fits your needs can feel tricky, especially with the state’s higher-than-average rates, but Bankrate can make the process easier. We started our review by analyzing average car insurance rates, provided by Quadrant Information Services, for the largest auto insurers in New York by market share. Then, we reviewed third-party scores from companies like J.D. Power and ratings from AM Best. Finally, we analyzed each company’s coverage offerings, discounts and digital tools.

We combined these metrics into a single Bankrate Score. The Scores are on a scale from 0.0 to 5.0, with higher Scores meaning that the company ranked more highly in the underlying categories. Our Bankrate Score method can help you see how companies compare, which might help you feel more confident when choosing a carrier that fits your needs.

How much is car insurance in New York?

The average cost of car insurance in New York is $3,139 annually for full coverage and $1,371 annually for minimum coverage. These averages are significantly higher than the national average prices of $2,014 per year for full coverage and $622 per year for minimum coverage. New York’s average rates also far outstrip the average rates of surrounding states. Pennsylvania drivers pay an annual average of $2,040 for full coverage and $428 for minimum coverage, for example, and drivers in Vermont pay an average of $1,061 per year for full coverage and $238 per year for minimum coverage.

The high population density in the state may be partly to blame for the high premiums. More vehicles on the road mean a greater chance of getting into an accident. To compensate for higher risk, auto insurers often charge a higher premium. However, your rates may be more or less than the state average based on factors like your driving history.

Average annual premium for full coverage in New York Average annual premium for minimum coverage in New York
$3,139 $1,371

How to find the best car insurance in New York

Finding the auto insurance in New York that is best for your needs will depend heavily on your individual needs and the location-specific factors in your area. However, there are things you can do to make the process of shopping for New York car insurance easier.

Consider minimum insurance requirements in New York

Auto insurance is required in New York. You cannot register your vehicle at the New York Department of Motor Vehicles (DMV) until you purchase a policy. The state minimum limits include bodily injury liability and property damage liability, both of which have a “liability per person” and “liability per accident” limit. New York drivers must also purchase at least minimum limits of personal injury protection (PIP) and uninsured motorist coverage.

Rest assured that you do not need to memorize New York’s car insurance laws — you will not be able to buy a policy that does not comply with the minimum limits. But knowing the state minimum level of coverage could help you understand if you need higher limits or additional coverage options.

Consider lender requirements

If you have a loan or lease, your lender probably requires you to have full coverage. Minimum coverage limits do not include comprehensive coverage or collision coverage, which provide coverage for damage to your vehicle. To get those, you will need to buy a full coverage policy. Those who lease vehicles may also have higher requirements for bodily injury liability and property damage liability, both the liability per person and liability per accident limits. You may also want to consider purchasing gap insurance. If your new vehicle is totaled and the claim payout is less than the balance on your loan, gap insurance is designed to pay for the difference.

Consider your individual needs

To evaluate your car insurance needs, consider a few factors such as whether you have a teen who is about to start driving, your vehicle make and model, credit history and driving record. Each of these factors could affect your New York car insurance premium, so it is important to consider each carefully. For example, if you just purchased a brand new electric vehicle, many New York auto insurers offer a new vehicle discount or an electrical vehicle discount. Knowing which insurance companies offer these discounts could help you save.

Info
New York drivers could see some of the highest premium increases in the country

According to a study that Bankrate conducted, New York drivers may be feeling the effects of inflation on their car insurance more than drivers in other states. To determine which states were experiencing the worst impacts of inflation on car insurance rates, we turned to rate filing data from S&P Global Market Intelligence. We specifically looked at average auto insurance rate increase filings in all 50 states and Washington, D.C., between January 1, 2022 and May 18, 2022. In that time, insurance companies in New York requested an average rate increase of 4 percent. These rate filings may be apparent when comparing the average premium for full coverage in New York year to year. In 2022, we found that the average cost for a full coverage policy in New York was $2,996. In 2023, that average is now $3,139, an increase of nearly five percent.

Frequently asked questions

Written by
Carol Pope
Insurance Writer

Carol Pope is an insurance writer for Bankrate and prior to joining the team, she spent 12 years as an auto insurance agent. During this time, she sold, serviced and underwrote auto insurance for people across the country. She also has experience selling supplement coverage such as umbrella insurance.

Edited by
Maggie Kempken
Insurance Editor
Reviewed by
Mark Friedlander
Director of corporate communications, Insurance Information Institute