How Much Is Car Insurance in New York? (October 2024)


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In New York, average annual car insurance costs vary by coverage: full coverage averages $2,356, while minimum coverage is about $1,320. Factors influencing premiums include age, coverage level, location, driving record and credit history.

Why Trust MoneyGeek? MoneyGeek analyzed New York auto insurance rates using data from the New York Department of Insurance and Quadrant Information Services.

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These rates reflect the average cost of car insurance in New York as of October 2024.

53,640Quotes Analyzed
 
12Companies Compared
 
95ZIP Codes

Average Car Insurance Costs in New York

New York's average annual cost for full coverage car insurance is $2,356. Understanding the average car insurance cost is crucial when comparing car insurance quotes.

Below is a guide for what you might pay for auto insurance in New York, whether you're considering minimum coverage or full coverage.

100/300/100 Full Cov. w/$1,000 Ded.$2,356$196
100/300/100 Liability Only$1,673$139
State Minimum Liability Only$1,320$110

Why Are Car Insurance Rates Moderate in New York?

Car insurance in New York is relatively expensive compared to other states. Full coverage costs an average of $2,356 per year or $196 per month, while the national average is $1,337 per year or $111 per month. The state minimum coverage costs $1,320 per year or $110 per month, higher than the national average of $619 per year or roughly $52 per month.

New York's high car insurance rates stem from its dense population, increased accident and theft risks, and strict state coverage requirements.

Average Car Insurance Costs in New York by Company

Car insurance rates vary per company, even within the same state. For New York drivers seeking the cheapest full coverage, Kemper offers an annual average premium of $1,121. Mercury is the most costly provider at $4,152 per year.

Comparing quotes from different providers can save you money and help you find the cheapest car insurance in New York.

Data filtered by:Results filtered by:
Coverage:
Coverage:Full Coverage
Age Group:
Age Group:30-59
Kemper$1,121$93
Progressive$1,148$96
American Family$1,372$114
GEICO$1,919$160
Erie$2,168$181
State Farm$2,415$201
Allstate$2,420$202
Chubb$2,614$218
Travelers$2,760$230
Hanover$3,826$319
Mercury$4,152$346
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Average Car Insurance Costs in New York by Coverage Level

Car insurance costs depend on your coverage level. Minimum coverage in New York averages about $110 per month, while full coverage with a $1,000 deductible costs around $196 monthly. Full coverage insurance is advisable for better financial protection in accidents.

While comprehensive and collision coverage increases your premium, higher deductibles can lower your costs. The deductible is your out-of-pocket expense for each claim, so a higher deductible can make these policies more affordable while still providing good protection.

State Minimum Liability Only$1,320$110
100/300/100 Liability Only$1,673$139
300/500/300 Liability Only$1,973$164
State Minimum Liability w/ Full Cov. w/$1,000 Ded.$2,086$174
State Minimum Liability w/ Full Cov. w/$1,500 Ded.$2,118$177
State Minimum Liability w/ Full Cov. w/$500 Ded.$2,164$180
100/300/100 Full Cov. w/$1,000 Ded.$2,356$196
100/300/100 Full Cov. w/$1,500 Ded.$2,388$199
100/300/1000,000 - 500 comp_coll$2,434$203
300/500/300 Full Cov. w/$1,000 Ded$2,546$212
300/500/300 Full Cov. w/$1,500 Ded.$2,578$215
300/500/300 Full Cov. w/$500 Ded.$2,625$219

Minimum Car Insurance Requirements in New York

In New York, the minimum car insurance requirements include $25,000 bodily injury liability per person, $50,000 liability per accident, $10,000 property damage liability per accident, along with $25,000/$50,000 for uninsured/underinsured motorists and mandatory no-fault coverage of $50,000 personal injury protection per person, plus $50,000 death liability per person and $100,000 death liability per accident.

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    $25,000 for bodily injury liability per person

    This is the minimum amount required in New York to cover the injuries of one person in an accident you cause.

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    $50,000 for bodily injury liability per accident

    This covers the total cost of injuries to multiple people in an accident you're responsible for up to the policy limit.

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    $10,000 for property damage liability per accident

    This amount covers the damage you may cause to someone else's property during an auto accident.

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    $25,000 uninsured motorist bodily injury per person

    New York requires this coverage to protect you from injuries per person caused by uninsured drivers.

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    $50,000 uninsured motorist bodily injury per accident

    This is the total coverage for injuries by uninsured drivers in an accident, regardless of the number of people hurt.

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    $50,000 personal injury protection (PIP) per person

    PIP coverage is mandatory in New York and covers medical expenses, lost wages and other costs for you, regardless of fault.

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    $50,000 death liability per person

    In the unfortunate event of a death resulting from an accident, this is the minimum coverage for one person.

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    $100,000 death liability per accident

    This is the total coverage for all deaths resulting from a single accident, subject to this maximum limit.

Average Car Insurance Costs in New York by City

Car insurance premiums can vary significantly based on location. In New York, full coverage costs about $1,257 annually in Rochester, while in New York City, it can reach $3,060.

Driving history, age, vehicle model, credit score and the selected coverage level also affect rates.

Buffalo$1,617$953
New York$3,060$1,761
Rochester$1,257$723
Syracuse$1,356$764
Yonkers$2,296$1,284

Average Car Insurance Costs in New York by Age

Younger drivers (ages 22 to 29) pay more for car insurance in New York, averaging $2,765 annually or $230 monthly due to inexperience and higher accident risk. Adults (ages 30 to 59) benefit from lower rates, averaging $2,356 annually or $196 monthly. Seniors (60+) see a slight increase in premiums, averaging $2,418 annually or $202 monthly, as insurers perceive a higher risk with age.

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
22-29$2,765$230
30-59$2,356$196
60 +$2,418$202

Average Car Insurance Costs in New York for Teens

In New York, age and gender impact car insurance premiums. A 16-year-old male driver added to a family policy averages $3,563 annually. Teens under 18 usually can't buy insurance without a parent or guardian. If a 16-year-old male gets an individual policy, it can exceed $6,599 annually.

Data filtered by:Results filtered by:
Gender:
Gender:Male
16$3,563$6,599
17$3,491$5,443
18$2,957$4,552
19$2,575$3,312
20$2,614$2,826
21$2,087$2,273
22$1,908$2,073
23$1,970$1,846
24$1,850$1,739
25$1,611$1,503

Average Car Insurance Costs in New York for New Cars

The average annual cost for full coverage car insurance for a 2012 car model is $1,590, while a 2022 model has a higher premium of $1,851. Newer models often have a higher actual cash value and repair costs and a greater risk of theft, leading to increased premiums.

If you have a new car, consider comprehensive and collision insurance, which covers many incidents, including accidents, natural disasters and vandalism.

Data filtered by:Results filtered by:
Coverage:
Coverage:Full Coverage
Age Group:
Age Group:30-59
2012 Vehicle$1,590$133
2022 Vehicle$1,851$154
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ACTUAL CASH VALUE

Your vehicle's actual cash value (ACV) is the amount your insurance company will use to determine the payout for your comprehensive or collision claim. It reflects your car's market value, considering depreciation at the time of loss, ensuring that you receive fair compensation based on the vehicle's worth before the incident.

Average Car Insurance Costs in New York by Driving Record

The average cost of car insurance in New York varies depending on your driving record.

  • With an at-fault accident: $2,591 per year; $216 per month
  • With a ticket: $2,697 per year; $225 per month
  • With a DWI: $3,611 per year; $301 per month

The severity of a violation directly affects car insurance premiums. Serious violations increase your rates, impacting your premiums as long as they remain on your record. In New York, a DWI can stay on your record for up to 10 years, affecting your insurance costs.

The table below shows average insurance costs in New York for various driving records, categorized by coverage type and age group.

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
Age Group:
Age Group:30-59
Clean$2,356$196
At-fault Accident$2,591$216
Ticket$2,697$225
DUI$3,611$301

Average Car Insurance Costs in New York by Credit Score

Car insurance costs in New York vary greatly based on credit scores. Average annual premiums range from $1,580 for excellent credit to $5,849 for poor credit.

Higher credit scores typically lead to lower insurance rates, as insurers view these drivers as less risky. Credit scores fall into these categories: poor (300 to 579), fair (580 to 669), good (670 to 739), very good (740 to 799) and excellent (800 to 850).

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 w/ $1000 Deductible
Age Group:
Age Group:30-59
Excellent$1,580$132
Good$1,968$164
Fair$2,568$214
Below Fair$3,624$302
Poor$5,849$487
Compare Auto Insurance Rates

Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

Factors Affecting Car Insurance Rates in New York

Several factors can affect your car insurance rates in New York, including collision and comprehensive coverage costs. Understanding these factors can help you make informed decisions about your insurance.

  • Driving record: A clean driving history can lead to more affordable insurance rates, while traffic violations and accidents typically raise premiums.
  • Age and experience: Younger, less experienced drivers often face higher rates due to their increased risk of accidents.
  • Credit score: Insurers may use your credit score to gauge risk, which can affect insurance costs. A higher score can equate to lower rates.
  • Vehicle type: Luxury and sports cars usually have higher insurance costs than economy or mid-range models.
  • Location: Urban areas with higher traffic density and theft rates may experience higher insurance premiums.
  • Annual mileage: The more you drive, the more you're at risk for accidents, which can lead to increased insurance costs.
  • Coverage level: Opting for more than the state minimum coverage will increase your premium but offers better protection. For instance, full coverage costs more but includes both collision insurance and comprehensive insurance.
  • Discount eligibility: Taking advantage of discounts like multi-car or safe driver can significantly lower your insurance rates.

How to Save Money on Car Insurance in New York

To find affordable car insurance in New York, shop around, raise your deductible and maximize available discounts.

    shoppingCart icon

    Compare quotes

    Regularly comparing quotes can help you find the most affordable car insurance in New York. Insurers often adjust their rates, so stay informed.

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    Increase your deductible

    Opting for higher deductibles can lower your premiums. Ensure you can afford the out-of-pocket expense in the event of a claim.

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    Maintain a clean driving record

    A clean driving record can lead to lower insurance costs. Avoid traffic violations and accidents to qualify for better rates.

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    Bundle policies

    Bundling auto insurance with home or renters' insurance can provide significant savings. Insurers offer discounts for multiple policies.

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    Seek discounts

    Look for discounts such as safe driver, multi-car or good student. Every discount helps reduce the overall cost of your policy.

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    Choose the right vehicle

    Selecting a car that's cheaper to insure can lead to savings. Research which models have lower insurance costs before purchasing.

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    Review your coverage needs

    Review your coverage annually to ensure it still meets your needs. Adjusting your coverage can lead to savings without compromising protection.

FAQ: Car Insurance Costs in New York

Get answers about what impacts the average cost of car insurance in New York and how you can find affordable rates.

What are the minimum car insurance requirements in New York?
What is the average cost of full coverage and minimum coverage auto insurance in New York?
What is the average cost of car insurance for a 22-year-old in New York?
What are the cheapest car insurance companies in New York?

About Mark Fitzpatrick


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Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.