How Much Is Car Insurance in New York? (2023)

Car insurance rates are impacted by several factors, including your age, specific location, coverage level, driving history, credit score and more. For instance, in New York, insurance companies' average full coverage rates vary from $781 per year (Kemper) to $2,326 per year (Chubb). A 16-year-old male on a family plan will cost $3,563 per year, thousands more than a single adult driver.

The average cost of car insurance in New York is $2,016 per year. However, the coverage amount and driving record (among other factors) can impact those average costs. For instance, here’s what New York drivers pay, on average, based on their driving records:

• Clean record: $2,043 per year
• Accident: $2,277 per year
• Speeding ticket: $2,373 per year
• DUI: $3,128 per year

The above rates are for a full coverage policy. Minimum coverage rates will be somewhat cheaper.

New York is the most expensive state for car insurance. On average, policies in the state cost $995 more than the $1,021 nationwide average cost. New York’s expensive car insurance rates may be due to its high traffic and urban population, along with its requirement for personal injury protection (PIP) coverage. Depending on your driver profile, you may pay even more — rates for teens and those with bad driving histories are typically higher.

The average cost of car insurance in the state is not the most meaningful statistic, as rates vary across companies. Kemper offers the cheapest car insurance in New York for a minimum coverage policy at $464 per year ($781 per year for full coverage), while Mercury has the most expensive premiums at $2,569 per year ($4,875 per year for full coverage).

Although liability-only policies are cheaper than full coverage policies, it’s still possible to find affordable full coverage insurance by shopping around.

As you increase your liability limits, the cost of your insurance will also increase. The average cost of car insurance in New York ranges from $1,131 for state-minimum coverage to $2,248 for full coverage with increased liability limits. Adding comprehensive and collision insurance can increase your annual rate by several hundred dollars. To save money on a full coverage policy, you can choose a higher deductible.

The cheapest policy available in the state only includes the minimum coverages required in New York. These policies feature the lowest liability limits and do not have comprehensive or collision insurance. New York requires personal injury protection and death liability insurance, which drives up the cost of minimum coverage policies compared to other states.

Insurers may offer policies with increased liability limits, shortened to 50/100/50 or 100/300/100. A policy with liability limits of 50/100/50 would include the following coverage:

• $50,000 in bodily injury liability insurance per person
• $100,000 in bodily injury liability insurance per accident
• $50,000 in property damage liability insurance per accident

Most insurers have a maximum liability of 300/500/300. Liability insurance only covers damage or medical expenses to others. To receive coverage for damages to you or your vehicle, you’ll also need to purchase comprehensive and collision insurance, making it a full coverage policy.

Age can significantly impact the cost of your car insurance, especially car insurance costs for new drivers or young drivers. Here’s the average cost of a full coverage policy in New York by age group:

• 22–29: $2,384 per year
• 30–59: $2,043 per year
• 60+: $2,151 per year

Although drivers in their 20s typically pay more for insurance, rates are relatively steady for drivers between the ages of 30 and 59, increasing again as drivers age past 60.

Teen drivers in New York pay more than other age groups — the average insurance cost for a 16-year-old male on a family plan is $3,563 per year. Individual policy rates are even more expensive at $6,599 per year.

However, costs decrease as drivers age and accrue more experience. A 19-year-old on a family plan pays an average of $2,575 annually, whereas a 22-year-old pays $1,908. To find cheap auto insurance in New York for teens, compare providers’ rates.

In many states, including New York, rates can change drastically by sex. A family plan for a 16-year-old female, for example, will cost an average of $3,007 per year, almost $556 less than the male teen.

In New York, it costs $1,851 per year to insure a new vehicle — 16% more than the cost to insure an older vehicle, $1,590. New cars may cost more to insure due to their higher actual cash value (ACV), cost of repairs and greater risk of theft.

Insurers pay comprehensive and collision claims based on the actual cash value of your car. The ACV of a car depreciates greatly over the years, and an insurer will pay you much less for any given claim, meaning that your car will be cheaper to insure. New York drivers with newer cars should consider getting full coverage insurance, which covers you for damages to your car, not just your liability for damages to others.

Drivers with traffic violations pay more for car insurance than those with clean driving histories. In New York, drivers will pay the following rates, on average:

• Clean record: $2,043 per year
• At-fault accident: $2,277 per year
• Speeding ticket: $2,373 per year
• DUI: $3,128 per year

Typically, costs increase in proportion to the severity of the driving offense. For instance, a DUI will raise your insurance premium more than a speeding ticket. To find the cheapest car insurance in New York for drivers with poor records, compare rates from multiple providers.

Your credit score has a major effect on the cost of your car insurance. Drivers in New York with poor credit pay an average of $5,849 per year, while those with excellent credit only pay $1,580 per year. The average costs for drivers in New York based on their credit score are:

• Excellent: $1,580 per year
• Good: $1,968 per year
• Fair: $2,568 per year
• Below fair: $3,624 per year
• Poor: $5,849 per year

Insurers may penalize drivers differently for lower credit scores, so it's essential to shop around to find affordable auto insurers in New York for drivers with poor credit.

Where you live in New York can significantly impact your car insurance premiums. For instance, drivers in New York City will pay the most for a full coverage policy at $3,060 per year, while those in Rochester will pay the least at $1,257 per year. Car insurance rates tend to be more expensive in areas that have more traffic and a higher population density, like New York City.

It’s typical to have questions about average car insurance costs in New York, especially since rates vary based on personal details and across locations. Review MoneyGeek’s answers to commonly asked questions to learn more.