New York’s cheapest auto insurance companies
New Yorkers tend to pay higher auto insurance rates than other drivers. auto insurance costs on average $644 per year for minimal coverage, and $2,314 per year for full coverage. The average minimum premium in the Empire State is $1,605 annually, which is nearly double the national average. Full coverage costs an average of $3,751. Bankrate’s editorial team of licensed agents and insurance editors, who are dedicated to helping drivers save money on car insurance, has done the research in order to find out which insurers offer the lowest rates for New York.
Cheapest auto insurance in New York with minimum coverage
New York, like most states, requires that drivers carry a certain amount of liability coverage to be able to drive legally. In addition to liability insurance, New York also requires coverage for uninsured drivers as well as protection against personal injury because the state is a “no-fault” state. The cheapest insurance option is to purchase minimum coverage, but it provides the least financial protection.
In New York the average cost per year for minimum coverage is $1 605. Bankrate compared the average rates of Quadrant Information Service to find carriers that offer coverage at a lower average than New York’s average.
| Insurance Company | Monthly Average Premium | Average annual premium | Savings vs state avg. Minimum coverage |
|---|---|---|---|
| Utica National | $88 | $1,052 | – $553 |
| Progressive | $103 | $1,238 | – $367 |
| Geico | $109 | $1,303 | – $302 |
| Chubb | $116 | $1,391 | – $214 |
| Preferred Mutual | $121 | $1,450 | – $155 |
Rates updated as of April 2024 Please read our complete methodology
Minimum insurance requirements for New York drivers
Your car insurance policy should include at least these types of coverage and limits.
- Liability of $25,000 for bodily injury and $50,000 for death per person
- Two or more people can be sued for $50,000 in bodily injury and $100,000 in death.
- Property Damage Liability of $10,000 per Accident
- Personal Injury Protection (PIP) $50,000
- Uninsured Motorist Bodily Injury Liability of $25,000 per person
- Uninsured motorist bodily liability of $50,000 per accident
According to the Insurance Information Institute, (Triple-I), New York is the third lowest estimated percentage for uninsured motorists in the U.S. with 4.1 percent. New York drivers have two choices for uninsured driver coverage: statutory or supplemental. Statutory coverage is only applicable to accidents occurring within the state. Additional coverage can be purchased at lower or higher limits, and it provides coverage outside the state. Underinsured motorists are also covered by the uninsured coverage.
In August 2023 a new law came into effect, which requires that all drivers – even those who are single – have minimum coverage requirements. This includes spousal coverage. Drivers can opt out in writing if they do not want this coverage.
Some drivers will not be able to afford the minimum coverage required. Your financial institution might require that you carry higher limits of coverage than the state law.
Cheapest auto insurance in New York with full coverage
full coverage typically includes the state’s minimum requirement, plus collison and extensive coverage. These types of insurance provide more comprehensive financial protection in case of an accident, or other vehicle mishaps like theft, vandalism, and weather-related damages. In New York, the average cost of full coverage is $3 751. Bankrate has identified several insurers that offer competitive rates for NY full coverage.
| Insurance Company | Monthly Average Premium | Average annual premium | Savings vs state avg. Full coverage |
|---|---|---|---|
| Progressive | $180 | $2,154 | – $1,597 |
| Erie | $280 | $3,359 | – $392 |
| Geico | $293 | $3,519 | – $232 |
| Allstate | $310 | $3,725 | – $26 |
| State Farm | $314 | $3,770 | + $19 |
Rates updated as of April 2024 Please read our complete methodology
New York car insurance for drivers with accidents is cheaper
In general, drivers who have clean driving histories will pay the lowest premiums. If you’ve had a prior infraction, it’s still possible to get affordable coverage if shopping around. You can find affordable insurance in New York by comparing quotes.
- Cheapest auto insurance for drivers who have a traffic ticket: Utica national
- Utica National Cheapest auto insurance for drivers who are at fault in an accident
- Progressive, Preferred Mutual, and Utica National
Cheapest insurance for New York drivers with speeding tickets: Utica National
In addition to the fines, fees, and other penalties that may be imposed by your state, a speeding citation in New York will likely increase your insurance premium. It will depend on the insurer as to how much you’ll be charged. You may want to compare rates with other insurance companies after receiving a speeding ticket.
| Insurance Company | Avg. annual min coverage premium | Avg. Average annual premium for full coverage |
|---|---|---|
| Utica National | $1,057 | $5,430 |
| Preferred Mutual | $1,242 | $7,113 |
| Progressive | $1,250 | $2,177 |
| Geico | $1,373 | $3,708 |
| Chubb | $1,600 | $5,058 |
Rates updated as of April 2024 Please read our complete methodology
Utica National is the cheapest insurance company in New York for drivers who are at fault in an accident.
If you’re found partially or completely responsible for the accident in New York, you could face fines, penalties, and more. After you pay your deductible, your collision coverage will likely cover the cost of damage to your vehicle if you have full insurance. After an accident where you were at fault, your insurance rates will likely increase. However, if you choose to purchase a policy with one of the below insurers, it could save you money.
| Insurance Company | Avg. annual min coverage premium | Avg. Average annual premium for full coverage |
|---|---|---|
| Utica National | $1,058 | $5,415 |
| Preferred Mutual | $1,239 | $7,079 |
| Progressive | $1,256 | $2,194 |
| Geico | $1,364 | $3,695 |
| Erie | $1,595 | $3,364 |
Rates updated as of April 2024 Please read our complete methodology
Progressive offers the lowest rates for high-risk drivers in New York
Anyone with a driving record that contains one or more violations can be considered a high risk driver in New York. DUI is the most serious. In New York, a DUI conviction can result in multiple penalties. Repeated offenses could even lead to jail time. You will also pay more for your car insurance. After a DUI conviction, your insurance company may not renew your policy.
| Insurance Company | Avg. annual min coverage premium | Avg. Average annual premium for full coverage |
|---|---|---|
| Progressive | $1,276 | $2,216 |
| Preferred Mutual | $1,626 | $6,284 |
| Utica National | $2,437 | $10,030 |
| USAA | $2,481 | $5,891 |
| Erie | $2,556 | $5,359 |
Rates updated as of April 2024 Please read our complete methodologyBankrate’s take:If your driving infractions are in a different state than New York you might be familiar with SR-22 requirements. In most states, your insurance provider must file this certificate to prove you have the minimum amount of auto insurance required. This may be required if your license has been suspended and reinstated. New York is among the few states to not require SR-22s, although all drivers are required to have the minimum insurance required by the state, regardless of whether they are considered high-risk.
New York offers the cheapest car insurance rates for young drivers
New York allows insurers to use age as a rating consideration. The increased risk of young drivers being involved in accidents is a factor that will increase their insurance rates. Bankrate discovered that finding affordable insurance for teens in NY can be difficult. However, some insurers offer rates below average for young drivers .
- Cheapest car insurance in New York for a teenage driver: Utica National
- Cheapest auto insurance for teens who have a traffic ticket: Utica national
- Cheapest auto insurance for teens who are at fault in an accident: Utica National
- Cheapest auto insurance for young drivers with DUI: progressive
Cheapest New Jersey car insurance for a teenage driver: Utica National
Insurance rates are often higher for teens because they are more likely to be in an accident. It is still possible to get affordable coverage. Student Drivers and Teen Drivers can lower rates, regardless of whether the young driver has a perfect driving record.
| Insurance Company | Avg. annual min coverage premium | Avg. Average annual premium for full coverage |
|---|---|---|
| Utica National | $1,377 | $6,489 |
| Chubb | $1,620 | $4,227 |
| Preferred Mutual | $1,678 | $6,811 |
| Geico | $2,101 | $5,685 |
| Progressive | $2,318 | $4,450 |
Rates updated as of April 2024 Please read our complete methodologyBankrate’s Take:We gathered rates for 16-year old drivers on their parent’s policy. Teens are charged more for their insurance because of the lack of experience they have behind the wheel. They also tend to get into more accidents and fender benders. Texting while driving is one of the many bad choices teens can make. According to research by the National Highway Traffic Safety Administration, texting and driving increases accident risk by 23 times. Teen drivers are more likely to make claims due to these factors than any other age group, which causes insurers to raise their rates.
Cheapest auto insurance for young drivers who have a traffic ticket: Utica National
Young drivers with speeding tickets will likely pay higher rates than average for their car insurance. Comparing quotes with several insurance companies or taking a defensive-driving course (which may result in a discount) can be helpful. Consider the following companies when searching for rates that are competitive:
| Insurance Company | Avg. annual min coverage premium | Avg. Average annual premium for full coverage |
|---|---|---|
| Utica National | $1,992 | $8,540 |
| Preferred Mutual | $2,063 | $8,239 |
| Progressive | $2,694 | $5,407 |
| Chubb | $3,427 | $9,457 |
| Geico | $3,735 | $10,607 |
Rates updated as of April 2024 Please read our complete methodology
Utica National offers the cheapest car insurance rates for young drivers who are at fault in an accident.
Young drivers who have been found to be at fault in an incident may be put in a higher-risk category, which makes it more difficult to find an affordable provider. According to Bankrate’s analysis, the following companies offer teens with accidents on their record more affordable average rates.
| Insurance Company | Avg. annual min coverage premium | Avg. Average annual premium for full coverage |
|---|---|---|
| Utica National | $1,623 | $7,307 |
| Preferred Mutual | $2,064 | $8,240 |
| Progressive | $2,694 | $5,405 |
| Geico | $3,757 | $10,674 |
| Erie | $3,893 | $7,932 |
Rates updated as of April 2024 Please read our complete methodologyBankrate’s Take:New York’s one of 12 no-fault states. No matter who is at fault, the medical costs are covered by each driver’s insurance policy. This is why New Yorkers must carry PIP as part of their auto insurance. The driver that caused the accident will most likely be responsible for the property damage, despite the “no fault” name. It is the “fault” of which party will pay for lost wages and medical expenses.
Cheapest auto insurance for young drivers who have a DUI is Progressive
A DUI would increase the risk profile of young drivers, due to their lack of driving experience. It would make insurance for cars more expensive and may make it more difficult to get standard auto insurance, as some insurers won’t write policies for DUI drivers. These carriers may offer coverage at a lower cost for young drivers.
| Insurance Company | Avg. annual min coverage premium | Avg. Average annual premium for full coverage |
|---|---|---|
| Progressive | $1,854 | $3,722 |
| Preferred Mutual | $2,185 | $8,480 |
| Utica National | $2,537 | $10,019 |
| Allstate | $3,581 | $8,490 |
| USAA | $3,744 | $8,837 |
Rates updated as of April 2024 Please read our complete methodology
Cheapest auto insurance rates in New York by city
The location of your home in New York can have a significant impact on the cost of car insurance. Urban areas, for example, may charge more because of the increased risk of accidents. A high-crime zone may increase your rates due to the possibility of theft claims. If you are looking for affordable car insurance in New York, it is worth getting quotes from the companies listed below.
The cheapest cities in Pennsylvania for auto insurance
| City | Average annual minimum coverage in the City | Cheapest car insurance provider | Average annual premium for a company |
|---|---|---|---|
| Yonkers | $1,480 | Utica National | $972 |
| Bayville | $1,488 | Utica National | $989 |
| Oyster Bay | $1,491 | Utica National | $989 |
| Glen Cove | $1,506 | Utica National | $989 |
| Sea Cliff | $1,508 | Utica National | $989 |
Rates updated as of April 2024 Please read our complete methodology
New York has the cheapest car insurance rates in large cities
| City | Average annual minimum coverage in the City | Cheapest car insurance provider | Average annual premium for a company |
|---|---|---|---|
| Oyster Bay | $1,491 | Utica National | $989 |
| Islip | $1,572 | Progressive | $1,246 |
| Babylon | $1,580 | Progressive | $1,268 |
| New York | $1,753 | Utica National | $1,059 |
| Hempstead | $2,138 | Utica National | $1,457 |
Rates updated as of April 2024 Please read our complete methodology
New York car insurance discounts
Discounts may be able to help you save money on your car insurance , especially in New York where the average premiums are high. Many insurers offer policyholders a few discounts . Here are a few of the most common.
- Bundling You might be able to save money on your insurance premiums if you have multiple policies with the same insurer, such as auto and home.
- Safety Features:Newer vehicles have more safety features, such as multiple airbags or antilock brakes. These risk-reducing features may be rewarded by insurers with a discount. Discounts may be given for anti-theft features.
- Defensive Driving Course:In New York and many other places, taking a defensive driver course every few years can save you money on insurance.
- Student Discounts:Young Drivers may be eligible for a discount, if they have a high grade point average or are attending school away from their home but do not bring a car.
- Organizational Discounts:Some insurance companies will give you a discount if your organization is affiliated with a professional association or alumni group.
- Military discounts. Carriers can offer a discount to active and retired military members.
FAQ
What is the best auto insurance company in New York State?
Our research revealed that Geico and USAA are the three top car insurance companies in New York. However, this may not be the case for all drivers. When searching for auto insurance, each person will have their own set of circumstances and needs. The driver’s needs for coverage, the car they drive and their driving history, as well as the age of drivers listed on the policy, can all impact the premium.
What is the cost of car insurance in New York?
In New York State, the average rates for auto insurance are $3,751 per year for full coverage, and $1,605 per year for minimum coverage. The actual rate that you pay will depend on a number of individual factors, including your car’s make and model, the types and levels of coverage you select, and your claim history. Based on your rating metrics, you will probably pay a premium that is different from the average state or national rate.
How can I find the lowest-priced car insurance in New York State?
There are many ways to find the best car insurance rates. It’s important to realize that car insurance rates are highly individual. There is no one company that can offer the lowest rates for everyone. Bankrate’s list of the cheapest car insurers is a good place to start when looking for the best car insurance rates. You can then request quotes from multiple insurers and compare the rates. It’s important to request free quotes with the same policy limits and coverage options. Otherwise, your comparisons will not be valid.
Why is New York car insurance so expensive?
New York is a state that does not hold drivers responsible for their actions. This is one factor that drives up insurance rates. In no-fault state, the minimum insurance amount is usually higher than in states where there are fault laws. Insurance companies charge more for this extra coverage. Rates could increase even more with the new requirement for spousal responsibility.
Another factor is risk. New York has the most high rates of vehicle theft across the nation. In July 2023 there were more than 1,500 auto thefts just in New York City. New York also has one of the densest populations across the nation. It can also lead to an increase in accidents, which means more risk for insurance companies.
Methodology
Bankrate uses Quadrant Information Services for 2024 rate analysis. Rates in each region are weighted according to the population density. Rates are based upon a 40-year old male and female with a good driving record and good credit, and full coverage up to the following limits.
- Liability for bodily injury of $100,000 per person
- Liability for bodily injury per accident: $300,000.
- Property Damage Liability of $50,000 per Accident
- Uninsured Motorist Bodily Injury Per Person: $100,000
- Uninsured motorists bodily injury $300,000.
- $500 collision deductible
- $500 comprehensive deductible
Bankrate calculated minimum limits of coverage by using the minimum requirements set forth by each state. Our base drivers drive a Toyota Camry 2022, commute 5 days a weeks and travel 12,000 miles per year.
These sample rates should only be used as a comparison.
Incidences : Rates are calculated using our base profile and the following incidents: clean record, at-fault accident (base), single speeding ticket, and DUI conviction.
Teens :Rates are calculated by adding a 16 year old teen to the policy of a married 40-year-old parent. The rates shown reflect the cost of adding a driver aged 16 to a parent’s policy.
Age :Rates are calculated using our base profile and the age ranges of 18-21. On their own policy, drivers are considered renters. In Hawaii and Massachusetts, state regulations do not allow age to be a rating factor.
