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

In New York, the average annual cost of car insurance varies by the coverage you choose. Full coverage policies average $2,228 per year. For minimum coverage, the average is $1,239 annually.

Your car insurance premium is influenced by factors like your age, coverage level, where you live, driving record and credit history. Each of these factors affects how affordable your plan will be.

New York's average annual cost for full coverage car insurance is $2,228. 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.

Car insurance in New York is notably expensive compared to other states. Full coverage costs an average of $2,228 per year or $186 per month, while the national average cost of car insurance $1,296 per year or $108 per month. New York's state minimum coverage costs $1,239 per year or $103 per month, while the national average cost is $595 per year or $50 per month. The expensive rates in New York can be attributed to the high population density, the elevated risk of accidents and theft and the extensive coverage requirements mandated by state law.

Car insurance premiums 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. Hanover is the most costly provider at $3,826 per year.

Comparing car insurance quotes from different providers can lead to significant savings, ensuring you get the cheapest car insurance in New York.

The cost of car insurance in New York is also influenced by the level of coverage you select. For example, the average cost for minimum coverage is $103 monthly, while full coverage with a $1,000 deductible costs around $186. Despite the higher cost, full coverage car insurance is recommended because it provides more comprehensive protection in the event of an accident.

Adding comprehensive and collision coverages to your policy will increase your premium, but opting for higher deductibles can mitigate this increase. The deductible represents the amount you will pay out of pocket for each comprehensive and collision claim you file, allowing you to balance coverage and cost.

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

Your car insurance premiums can vary greatly depending on where you live. In New York, the full coverage annual premium for the cheapest city, Rochester, is $1,257 compared to $3,060 per year for the same coverage in New York City.

Several factors influence car insurance rates in New York, such as driving history, age, vehicle model, credit score and the level of coverage chosen.

Younger drivers (ages 22 to 29) face higher car insurance costs due to inexperience and a higher risk of accidents. In New York, they pay an average of $2,627 annually or $219 monthly. Adults (ages 30 to 59) are considered more stable and experienced and tend to see lower rates, with an average annual premium of $2,228 or $186 monthly. For seniors (60+), premiums increase slightly to $2,293 annually or $191 monthly, reflecting the perceived increased risk with advancing age.

In New York, car insurance premiums are significantly influenced by both age and gender. For example, a 16-year-old male driver added to a family policy incurs an average annual premium of $3,563. For teens under 18, purchasing car insurance without a parent or guardian is often not permissible. An individual policy for a 16-year-old male can cost upwards of $6,599 annually.

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. This difference is because newer models often have a higher actual cash value and repair costs and a greater risk of theft, leading to increased insurance premiums. If you have a new car, you should consider comprehensive and collision coverage since this covers a wide range of incidents, including accidents, natural disasters and vandalism.

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

• With a ticket: $2,547 per year; $212 per month
• With an at-fault accident: $2,456 per year; $205 per month
• With a DWI: $3,450 per year; $288 per month

The more severe the driving violation, the more your car insurance premiums are likely to increase in New York. As long as the violation is on your record, it will continue to influence your premiums. The time a violation remains on your record can differ by state. For example, in New York, a DWI can stay on your driving record for up to 10 years, potentially impacting your insurance costs.

The table below shows the average insurance cost in New York for different driving records based on coverage and age group.

New York drivers see a significant variation in car insurance costs depending on their credit score. Average annual premiums range from $1,580 for those with excellent credit to $5,849 for those with poor credit.

Your credit score can raise or lower your car insurance rates in New York. Those with higher scores are often viewed as less risky and can access more affordable insurance options. Credit scores are generally categorized as poor (300 to 579), fair (580 to 669), good (670 to 739), very good (740 to 799) and excellent (800 to 850).

In New York, various factors can influence your car insurance rates, impacting the cost of your collision insurance and comprehensive insurance. Here's what you need to know.

• 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 Within New York: 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, potentially leading to increased insurance costs.
• Coverage Level: Opting for more than the state minimum coverage will increase your premium but offers better protection.
• Discount Eligibility: Taking advantage of discounts like multi-car or safe driver can significantly lower your insurance rates.

Find details on what impacts the price of your policy, whether you're seeking the most affordable plan or need robust coverage that includes both collision insurance and comprehensive insurance.

Shopping around, raising your deductible and taking full advantage of car insurance discounts can secure affordable car insurance in New York. These strategies can immediately reduce your premiums and offer savings on minimum coverage or more comprehensive plans.

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