Cheapest Car Insurance In New York (2024) (original) (raw)

Written by:

, Writer

10/18/2024 08:00 AM

Key Points

• Progressive is the cheapest car insurance company in New York overall, with an average rate of $47 per month for minimum coverage and $114 per month for full coverage.
• NY Central Mutual and GEICO also offer affordable car insurance rates for many driver profiles.
• If drivers are below 25 years old or have traffic violations on their driving record, they will face car insurance rates that are higher than the average.
• You can save on car insurance by opting for minimum coverage, looking for discounts, increasing your deductible, and bundling your auto insurance with other policies.

Due to the increasing costs of car insurance, it is recommended that drivers in New York compare different policy options in order to find the most affordable coverage. Our reviews team has researched the best car insurance companies nationwide. We carefully examined the reputation, customer satisfaction, coverage options, and average premiums of every provider.

In this review, we will discuss the most effective methods to reduce costs for insurance and where you can locate the most affordable car insurance in New York, tailored to your driving profile.

Cheap Car Insurance New York

Different car insurance companies consider driver profiles in various ways, meaning that the provider offering the lowest price for one driver may not do so for you. To illustrate, here’s a breakdown of the most affordable auto insurance providers and their rates for different driver profiles in New York.

*Unless stated otherwise, average costs are minimum-coverage rates for single male drivers between the ages of 25 and 35 with a clean driving history.

What Is The Cheapest Car Insurance Company In New York?

In general, we discovered that Progressive has the most affordable car insurance in New York for most types of drivers. The following sections will cover the average monthly costs of both minimum- and full-coverage car insurance from the cheapest companies in New York.

These rates apply to drivers in New York who are of various ages, from different locations, and with different driving histories. The cheapest companies are organized by minimum coverage costs.

Cheapest Minimum Coverage In New York: Progressive

Drivers looking for the most affordable coverage that just meets New York state minimum requirements may find it at Progressive for about $47 per month or $567 per year on average.

Cheapest Full Coverage In New York: Progressive

If you want the most comprehensive coverage at the best price, Progressive is the best choice. The provider offers full-coverage insurance for an average of $114 per month.

Full-coverage insurance policies in New York generally include liability insurance, uninsured/underinsured motorist coverage, collision coverage, and comprehensive insurance.

Cheapest Car Insurance In New York: Age

Below, you’ll find average insurance costs for New York drivers ages 16 to 55 as well as the top five cheapest car insurance companies for each age group. People who are between the ages of 30 and 55 usually get the cheapest car insurance rates because they have more experience driving. Plus, they tend to have fewer car accidents compared to younger drivers, according to statistics.

Average Car Insurance Rates By Age

Cheapest New York Car Insurance: Young Drivers

As mentioned, drivers in their teens and early 20s typically pay the most expensive car insurance rates. That’s mostly because these drivers don’t have much experience driving and are more likely to break traffic rules and get into accidents.

In fact, the fatal crash rate per mile driven for teen drivers was nearly three times the rate for drivers 20 years old and older in 2021, according to the Insurance Institute for Highway Safety.

Cheapest New York Car Insurance For 16-Year-Olds: NY Central Mutual

If you’re a teen driver or the parent of one, NY Central Mutual may be your best bet for finding the most affordable car insurance in New York.

The company’s cheapest average rates for 16-year-old drivers are $103 per month or $1,232 per year, which is relatively affordable compared to other states. If you’re looking for full coverage, the average is $359 per month or $4,305 per year from NY Central Mutual.

Cheapest New York Car Insurance For 25-Year-Olds: Progressive

Car insurance rates decrease significantly for young drivers in their 20s when compared to what teenagers pay. However, depending on the insurance company, rates for this age group can still be high.

Progressive provides the cheapest car insurance costs on average at $49 per month or $589 per year for minimum coverage. Progressive costs $121 per month or $1,447 per year for full coverage.

Cheapest New York Car Insurance: Adult Drivers

People who are in their 40s usually have the least expensive car insurance rates. You can compare average auto insurance premiums of drivers in their 30s, 40s, and 50s from the top five cheapest companies for each age group below.

Cheapest New York Car Insurance For 35-Year-Olds: Progressive

Drivers in their mid-30s may insure their cars at the cheapest cost by getting a minimum coverage car insurance policy from Progressive. The company offers average minimum-coverage costs of $45 per month or $546 per year. For full coverage, Progressive’s rates average $108 monthly or $1,298 annually.

Cheapest New York Car Insurance For 45-Year-Olds: Progressive

Forty-five-year-old drivers may find the most affordable minimum coverage from Progressive, with average rates of $44 per month or $530 per year. The cheapest full coverage comes from Progressive at $101 per month or $1,209 per year.

Cheapest New York Car Insurance For 55-Year-Olds: Progressive

Progressive usually offers the most affordable car insurance rates in New York for drivers who are in their 50s. The insurer’s average premiums are $41 monthly or $490 annually for minimum coverage. The cheapest full coverage option is from Progressive, costing $101 monthly or $1,209 annually

Cheapest Car Insurance In New York: High-Risk Drivers

Besides the kind of coverage you have and how old you are, how well you drive is also a significant factor in determining the cost of your car insurance. Auto insurers typically determine if you’re a high-risk driver by looking at how many infractions are on your driving record, including fines for speeding, at-fault accidents, and DUI convictions.

Average Car Insurance Rates For High-Risk Drivers

Drivers with a high risk of accidents or breaking traffic rules have to pay more for car insurance compared to the average driver because of the many times they have been found to be at fault. On average, New York motorists who are deemed high-risk may find the most affordable rates from Progressive for minimum coverage or Progressive for full coverage.

Cheapest New York Car Insurance For Drivers With A Speeding Ticket: Progressive

Drivers with a speeding citation on their record can generally find the most affordable coverage from Progressive, with average rates of $56 per month or $672 per year for minimum coverage and $134 per month or $1,609 per year for full coverage.

Cheapest New York Car Insurance For Drivers With An At-Fault Accident: NY Central Mutual

Getting into a car accident in New York can make your car insurance costs go up. NY Central Mutual tends to offer the most affordable rates on average at about $65 per month or $784 per year for minimum coverage and $220 per month or $220 per year for full coverage.

Cheapest New York Car Insurance For Drivers With A DUI: Progressive

If you’re a motorist with a drunk driving conviction, you may find the cheapest minimum car insurance in New York from Progressive for $50 per month or $594 per year on average. They also have rates of $119 monthly or $1,431 annually for full coverage.

Cheapest New York Car Insurance For Drivers With Poor Credit: GEICO

People who have bad credit are charged more for their car insurance. Those who don’t have the best credit history may want to check out GEICO, which has an average minimum-coverage rate of $77 per month or $927 per year and an average full-coverage rate of $213 per month or $2,558 per year.

Average Cost Of Car Insurance In 10 New York Cities

Your location in New York also affects the cost of your car insurance. Auto insurance companies consider drivers riskier to cover in areas with:

• Larger numbers of people
• There are a greater number of cars driving on the roads.
• More car accidents occurring at a greater frequency.
• More incidents of breaking traffic laws.
• More incidents of car theft and car vandalism
• Extreme weather conditions

Certain factors that increase the likelihood of risk tend to have a greater impact on people who own cars in bigger cities. This is why drivers in busy cities have to pay the highest average price for car insurance with minimum coverage. On the other hand, drivers in rural areas with less crime and a smaller population are more likely to have access to more affordable rates.

Best Car Insurance Companies In New York

We have looked at more than 40 insurance companies and considered factors like cost, coverage, service, and reliability to identify the top five insurers in New York. Based on our research, we found Progressive to be the best provider for most drivers in New York. These are the ratings we have given to our top recommendations.

*The overall and category ratings above are based on nationwide factors.

How To Get The Cheapest Car Insurance In New York

In New York, you have a few options to cut down on how much you pay for car insurance. These include:

• Opting for minimum coverage: If you only get the minimum required coverage in your state, you can get the cheapest car insurance available.
• Seeking out discounts: Most insurance companies have multiple discounts that can help cut down on premium costs, from military and good student discounts to discounts for drivers that remain accident free for five years.
• Raising your deductible: A higher deductible will lower your premium costs, but you’ll have to pay more out of pocket if you file a claim.
• Bundling your auto insurance: You can often bundle your auto insurance with a homeowners insurance policy or other type of coverage to earn a discount.
• Comparing quotes: Obtaining quotes from various companies can assist in determining which provider has the most favorable offer.

Many insurance companies offer usage-based insurance programs as an excellent way to save money. These programs use telematics to monitor your driving habits–from your speed and braking to the time of day you drive. If you drive safely, you might be eligible for a significant discount. However, there are programs that could increase your insurance rates if you show unsafe driving habits.

Some companies also offer diminishing deductibles and accident forgiveness. A diminishing deductible option decreases your deductible amount each time you renew your policy. Accident forgiveness ensures that your rates won’t increase after your first accident with the company.

What Does New York Require For Car Insurance?

Drivers in New York must meet minimum insurance requirements as outlined by state law, which include basic liability insurance and uninsured/underinsured motorist (UM/UIM) coverage:

• $50,000 bodily injury liability per accident
• $25,000 bodily injury liability per person
• $10,000 property damage liability per accident
• $50,000 personal injury protection
• 50,000liabilityperdeathperpersonalsorequired,aswellas50,000 liability per death per person also required, as well as 50,000liabilityperdeathperpersonalsorequired,aswellas100,000 liability for death per accident, 25,000uninsuredmotoristbodilyinjurycoverageperperson,and25,000 uninsured motorist bodily injury coverage per person, and 25,000uninsuredmotoristbodilyinjurycoverageperperson,and50,000 uninsured motorist bodily injury coverage per accident

Liability coverage only takes care of other parties’ injuries and property damages in an accident that you cause. UM/UIM covers your injuries and property damages, but only in the case that the at-fault driver has little to no auto insurance.

Getting comprehensive insurance will ensure that your car is covered if stolen, vandalized, or damaged by floods, fire, animals, or other natural disasters. Collision insurance covers your car repairs after an accident.

Our Take: Best Cheap Car Insurance in New York

When it comes to both minimum and full coverage, Progressive is the best and cheapest car insurance company for most drivers in New York. While the above costs can give you an idea of what you’d pay for car insurance in New York, getting a personalized quote will help give you a more accurate picture of what you’ll pay.

Many companies offer quick and no-cost tools online that allow you to get a price estimate. Alternatively, you can contact a company’s insurance agent or representative through a phone call. Once you have gathered quotes from three or more car insurance providers, compare them to find the option that suits you best.

Best Cheap Car Insurance In New York: FAQ

Here are some frequently asked questions about car insurance in New York:

How much is car insurance per month in New York?

The average cost of minimum-coverage car insurance in New York is $82 per month or $986 per year. For full coverage, the average is $203 per month or $2,442 per year.

Is New York car insurance cheaper?

New York auto insurance is typically more expensive than the national average. Nationwide, the average cost of minimum-coverage insurance is 670peryear,whiletheaverageinNewYorkis∗∗670 per year, while the average in New York is 670peryear,whiletheaverageinNewYorkis∗∗986 per year. For full coverage, residents of New York pay about $2,442 per year on average, which is more than the national average of $2,216 per year.

How We Rate Insurers

Our review process aims to deliver consistent and unbiased assessments of car insurance providers. While there are multiple qualities that make a car insurance company successful, our review team focuses on those we believe are the most important for consumers:

• Cost: Cost can be difficult to compare between insurers because so many factors impact annual premiums. The cheapest insurer for one driver may not be the cheapest for another. To determine our cost score, we look at insurance rate estimates generated by Quadrant Information Services, discount opportunities, and consumer reports.
• Coverage: To determine our coverage score, we look at the number of coverage options available as well as coverage limits and deductible options. Our ratings also take into account additional services and benefits like roadside assistance.
• Reliability: It’s important that an auto insurer is able to meet its claims obligations. Companies with a strong financial strength rating from AM Best score best in this category. Established insurers with a long history of reliable service also receive positive marks.
• Service: We comb through customer reviews on sites like the Better Business Bureau (BBB) to learn about customer experiences. Insurers with a low volume of complaints score well in this area. We also consider the claims process, giving higher ratings to car insurance providers that offer easy-to-use claims apps.

*Data accurate at time of publication.