New York Central Mutual Insurance Review 2022

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New York Central Mutual was founded in 1899. Today, it employs 800 personnel to provide insurance services to residents of central New York. NYCM Insurance is run by the founder’s great grandson who makes sure the 490,000 home, auto and commercial policies under his company’s care are serviced with the utmost commitment to excellence.

New York Central Mutual car insurance

New York drivers face the highest car insurance premiums in the country. Drivers can’t do much about how much car insurance companies charge in New York, but they can look for discounts. New York Mutual’s breadth of coverage and discounts provides drivers with options that could help them ease car insurance into their budgets.

Types of coverage

  • Property and bodily injury liability: Required by the state, liability coverage pays for damages and injuries you cause to others if you’re at fault in an accident.
  • Personal injury protection (PIP): Required by the state, PIP pays for lost wages, medical bills and funeral expenses.
  • Uninsured motorist: Required by the state to pay for damages caused by others who don’t have vehicle insurance.
  • Collision: Since liability insurance only pays for damages you cause to others, optional collision coverage pays for repairs or replacement of your car if it’s damaged in an accident.
  • Comprehensive: Optional coverage that expands protections for your vehicle to include damage or loss from theft, vandalism, fire or foul weather.

Cost of New York Central Mutual car insurance

As mentioned, the state of New York has the highest premiums in the country. New York has higher insurance requirements for all drivers, including liability, PIP and uninsured motorist insurance, driving prices up. Adding full coverage to pay for damages to your own vehicle nearly triples your New York Central Mutual car insurance annual premiums.

Average Annual Premium for Minimum Coverage Average Annual Premium for Full Coverage
$1,026 $2,598


  • Automatic electronic fund transfers: Set up autopay to receive 2.5 percent off.
  • Bundling: Buy car, home and umbrella insurance together and NYCM Insurance will give you an overall discount of up to 25 percent.
  • Driver training discount: Drivers under 21 can get 6 percent to 10 percent off their premiums after completing an approved driver-ed course.
  • Defensive driving course: Drivers of other ages can earn 10 percent off after completing an accident prevention course.
  • Student away at school: Students under 24 qualify for a 25 percent reduction in premiums if they’re 100 miles or more away from home.
  • Safety: Cars equipped with automatic airbags and passive restraints receive 30 percent off. Anti-lock brakes and daytime running lamps add another 3 to 7 percent off.
  • Anti-theft: Policyholders with comprehensive vehicle insurance can get up to 25 percent off for equipment such as alarms, window etching, vehicle recovery systems and passive disabling.
  • New car: If you have collision coverage, you can qualify for up to 30 percent off over three years for new-model vehicles.
  • Pay in full: Pay in advance for 10 percent off.
  • Good student: Students with a B average or greater receive 10 percent off their car insurance.
  • Senior: Drivers over 65 receive 5 percent off their policy.

New York Central Mutual home insurance

There are many home insurance companies operating in New York. New York Central stands apart from the competition because it’s hyper-focused on serving the Central New York region and nowhere else. NYCM insurance is run by residents and neighbors in the area, who understand your needs as a homeowner.

Types of coverage

  • Dwelling property: Included as part of a basic package to cover your home’s structure and any other buildings on the property, such as garages, sheds or gazebos.
  • Personal property: Provides financial protection against loss or damage of the contents of your home.
  • Loss of use: Reimburses you for your living expenses if your home is uninhabitable.
  • Personal liability: Steps in to cover your legal obligations.
  • Medical payments: Pays for the medical expenses of guests injured on your property.
  • Equipment and appliance breakdown: Provides an extended warranty service that pays to repair or replace home systems such as HVACs or appliances.
  • Utility line: Optional coverage that covers repairs or replacement of underground plumbing, electric, cable, phone and internet lines.
  • Flood: Optional coverage for water-related losses due to an area flood.
  • Water damage: Pays for water-related losses and damages because of overflows or backed up plumbing.


  • Multi policy: Bundle your home and auto insurance for a discount.
  • Home-buyer: For homes purchased before the effective date.
  • Work from home: Remote workers can earn up to 5 percent off if they’re telecommuting at least 20 hours per week.
  • Retirement: Individuals 55 or older who plan on retiring qualify.
  • Renovation: Homeowners living in homes that are at least 20 years old can receive a reduction in premiums for upgrading their primary heating or roof.
  • Claim free: Get 10 percent off if you don’t have any homeowners insurance claims in the last five years.
  • Green: Homes built using LEED certification will qualify for 5 percent off.
  • Gated community: If you live in a community with security and limited access, you’ll qualify for a discount.
  • Protective devices: You can ask for discounts if you have water, fire and/or security alarms installed or own generators for backup power.

Reasons why New York Central Mutual is a good option

New York Central Mutual is a good option for customers living in the Central New York area who want to support local, family-owned and family-run businesses. Although NYCM Insurance is small compared to the major insurance giants, the insurer offers a wide range of coverages for every driver and homeowner type. New York Central Mutual isn’t necessarily the cheapest insurance company in New York, but it provides plenty of discounts to make its premiums competitive.

New York Central Mutual ratings, reviews, customer satisfaction and complaints

NYCM Insurance is highly rated with both customers and credit rating agencies. AM Best finds New York Central Mutual Insurance to be above average when it comes to financial stability, awarding the insurer an A. Customers rank NYCM Insurance in the top three for the state of New York for auto insurance. The National Association of Insurance Commissioners found that NYCM has one of the lowest number of customer complaints for insurance companies, with an index of .33, well below the national average of 1.

A.M. Best

New York Central Mutual Insurance
J.D. Power Auto for New York: 837 out of 1,000
Home: NR
NAIC .33 (below average complaints)

Frequently asked questions

What do I need to get a quote from New York Central Mutual?

To get a quote online, you’ll need to enter some details about yourself such as date of birth, past accidents and convictions, ZIPcode and car information. You can also visit or call a New York Central Mutual insurance agent.

How do I file a claim with New York Central Mutual?

To file a claim, you’ll need to call the 24-hour hotline at 1-800-234-6926 or contact your agent for help.


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.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance and business journalist who has been featured in Bankrate, Business Jet Traveler, MSN,, and She regularly travels to Africa and the Middle East to consult with women’s NGOs about small business development and works with select startups and women-owned businesses to provide growth and visibility.