The Best Car Insurance in New York City, NY, for 2022

With an overall MoneyGeek score of 94 out of 100, the best car insurance company in New York City is Erie, offering a balance of customer satisfaction, financial stability and affordability. However, the best option for you might differ depending on your profile and coverage level.

Compare Auto Insurance Rates

Insurance Rates

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

widget-location-pin
Advertising & Editorial Disclosure
Last Updated: 8/12/2022
Written By     |  

MoneyGeek’s research shows that Erie offers the best car insurance in New York City. However, the best company for you might be different based on your age and background. We identified companies that offer the best policies for drivers of different ages, those with a military background and those with driving violations. For drivers who want to save money on car insurance, MoneyGeek researched the cheapest car insurance in New York City.

iconribbonBestCar InsuranceNew York City2022

The Best Car Insurance in New York City

Best Car Insurance Companies in New York City: Overall

MoneyGeek analyzed the claims, customer satisfaction and financial stability ratings of car insurance companies in New York City to identify the top two providers:

  • Erie: 94 out of 100
  • GEICO: 91 out of 100

USAA received a MoneyGeek score of 100 out of 100, making it the best car insurance company in New York City. However, we excluded it from this analysis because the company only offers policies to military families.

The Top Car Insurance Companies in New York City

1
ErieOverall
Score:94

4.7/5

Affordability

4.7/5

Claims

4.8/5

User Satisfaction

4.5/5

Financial Stability

Geek Quick Take
Geek Quick Take

The average cost of Erie’s full coverage policy is $2,302 per year. The company has the highest affordability and customer satisfaction scores, while it ranks second-highest for claims. It offers a better car replacement coverage option.

More About Erie

With Erie’s better car replacement coverage, you can replace your car with the latest model if it’s totaled in less than two years. The company offers accident forgiveness coverage; if you remain claims-free for three years, there’s no surcharge on your first at-fault accident.

Read MoneyGeek's Erie auto Insurance Review
2
GEICO
Score:91

4.6/5

Affordability

4/5

Claims

4/5

User Satisfaction

5/5

Financial Stability

Geek Quick Take
Geek Quick Take

A full coverage policy from GEICO costs $2,161 per year. The company ranks fourth for customer satisfaction, third for claims and second for affordability. In addition, it offers mechanical breakdown insurance.

More About GEICO

GEICO’s mechanical breakdown insurance covers all of your car’s parts and systems and provides better coverage than the typical dealer extended warranty. However, it’s only available for vehicles less than 15 months old with less than 15,000 miles. The company also offers roadside assistance, which helps you get back on the road if your car breaks down.

Read MoneyGeek's GEICO auto Insurance Review
tip icon
RESOURCES ON CAR INSURANCE IN NEW YORK CITY, NEW YORK

Drivers looking to save money on car insurance can benefit from MoneyGeek’s guide to the cheapest car insurance companies in New York City. For more information, have a look at the following resources:

Best Cheap Car Insurance for Minimum Coverage in New York City

MoneyGeek researched the best companies offering state-minimum policies in New York City. The following are the best companies for drivers looking to buy minimum coverage:

  • Erie: 94 out of 100
  • GEICO: 92 out of 100

Our score is based on different driver backgrounds, including young and older drivers and those with violations.

MoneyGeek’s Pick: Erie

Erie

pros

This is an icon

Affordable state-minimum policy at an average cost of $1,339 per year

This is an icon

MoneyGeek satisfaction and claims rating of 4.7 out of 5

This is an icon

Offers bundling, distant student and young safe driver discount

cons

This is an icon

Does not offer multiple-car, good student or safe driving discounts

COMPANY HIGHLIGHTS

Erie offers a discount on bundling, which saves you money when you purchase other types of policies from the company. You can also get a discount if you attend college away from home and don’t have access to a car while there. If you’re under 21 years of age and live with your parents, you’re also eligible for a discount on your policy.

Read MoneyGeek's Erie Auto Insurance Review

Best Car Insurance for Young Drivers in New York City

MoneyGeek’s research shows that the following companies offer the best and the cheapest insurance policies for young drivers in New York City:

  • State Farm: 94 out of 100
  • GEICO: 94 out of 100

We scored these companies after considering different policy coverages and driving histories for 18-year-old drivers.

If you’re a teenager, a young driver or a college student, you usually pay higher rates for a car insurance policy.

MoneyGeek’s Pick: State Farm

State Farm

pros

This is an icon

Cheap full coverage policy for a safe driver at $8,254 per year

This is an icon

Offers good student, distant student and driver’s education discount

This is an icon

MoneyGeek claims rating of 5 out of 5

This is an icon

MoneyGeek satisfaction rating of 4.5 out of 5

cons

This is an icon

Does not offer a discount on paperless billing

COMPANY HIGHLIGHTS

Adding young drivers to a policy can be expensive. However, State Farm offers young drivers affordable rates with good service. The company provides many student discounts, including good student, driver’s education and distant student discounts. It also offers roadside assistance coverage, which helps you if your car breaks down.

Read MoneyGeek's State Farm Auto Insurance Review

Best Car Insurance for Senior Drivers in New York City

MoneyGeek researched different companies in New York City and found that the following insurers offer the best car insurance policies for seniors:

  • Erie: 96 out of 100
  • State Farm: 94 out of 100

MoneyGeek’s scores are based on different policy coverages and driving histories for 70-year-old drivers.

Insurers generally charge higher rates to insure seniors than middle-aged drivers.

MoneyGeek’s Pick: Erie

Erie

pros

This is an icon

Affordable full coverage policy for seniors at an average of $2,486 per year

This is an icon

MoneyGeek satisfaction and claims rating of 4.7 out of 5

cons

This is an icon

Does not offer defensive driving or senior discounts

COMPANY HIGHLIGHTS

Car insurance policies for seniors offer the same coverage as those for other drivers. However, some insurance companies charge higher rates to insure older people. Erie provides affordable policies for seniors and excellent service. The company offers better car replacement and new car replacement coverages, which help you purchase the latest model if your new car is totaled. It also offers accident forgiveness, which means there's no surcharge for your first at-fault accident if you’ve remained claims-free for three years.

Read MoneyGeek's Erie Auto Insurance Review

Best Car Insurance With a Driving Violation in New York City

MoneyGeek found the following companies offer the best and cheapest car insurance policies in New York City for drivers with an at-fault accident on their record:

  • Erie: 95 out of 100
  • State Farm: 94 out of 100

We scored these companies considering different policy coverages and drivers of different ages. Drivers with a bad record generally pay higher car insurance rates.

MoneyGeek’s Pick: Erie

Erie

pros

This is an icon

Affordable policies for drivers with a bad record cost $3,211 per year

This is an icon

Offers many common discounts

This is an icon

Offers better car replacement and new car replacement coverages

This is an icon

MoneyGeek claims and satisfaction rating of 4.7 out of 5

cons

This is an icon

Only offers one unique coverage

COMPANY HIGHLIGHTS

Since most insurers charge higher rates to insure drivers with a bad record, it’s best to look for the most affordable rates. Erie offers many coverages and discounts, making it one of the best options for drivers with bad records. The company provides new car replacement and better car replacement coverage, which helps you purchase the latest model of your new car if it gets totaled. Erie also offers many discounts, including distant student and bundling.

Read MoneyGeek's Erie Auto Insurance Review

Best Car Insurance With a Military Background in New York City

With a MoneyGeek score of 100 out of 100, USAA is the best option for New York City military drivers looking for a car insurance policy. The company offers an excellent balance of affordability and customer satisfaction. MoneyGeek’s score is based on different driver backgrounds and coverage levels, including young drivers, seniors and those with violations. USAA only offers car insurance policies to drivers with a military background.

MoneyGeek’s Pick: USAA

USAA

pros

This is an icon

Affordable full coverage policy for military drivers at an average cost of $1,828 per year

This is an icon

Offers five common discounts, including bundling, multiple-car and good student

This is an icon

MoneyGeek satisfaction and claims rating of 5 out of 5

cons

This is an icon

Its policies are only offered to military families

This is an icon

Only offers three common coverages.

COMPANY HIGHLIGHTS

USSA is an excellent option for military-affiliated drivers. The company provides coverages like roadside assistance, which helps you get back on the road if you are stranded or your car breaks down. It also offers policyholders rental car reimbursement and accident forgiveness. However, USAA does not provide any unique coverages.

The company offers five of the nine most common discounts, including vehicle storage, safe driving, bundling, multiple cars, loyalty and good student.

Read MoneyGeek's USAA Auto Insurance Review

Methodology

MoneyGeek identified the best and cheapest car insurance companies in New York City, New York, after analyzing scores from J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC).

We determined the best car insurance company in the city for different driver profiles by applying the following weightings to each category:

  • Affordability (70%): MoneyGeek compared insurers in New York City and gave each an affordability score, scaled to five points. The insurer offering the cheapest policy received a perfect score of five.
  • Customer and claims satisfaction (20%): MoneyGeek analyzed J.D. Power surveys to score companies for customer and claims satisfaction (weighted 10% each).
  • Financial stability (10%): MoneyGeek evaluated AM Best’s scores, which indicate an insurer’s ability to pay claims during difficult economic times.

MoneyGeek scaled each score to five points and then scaled the overall score to 100 points. We determined the affordability score after considering different factors, including driver’s age, driving record and coverage levels. We changed the blend of drivers to reflect each category appropriately.

In this guide, the average premiums listed are for a full coverage policy with the following limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $100,000 property damage liability
  • Comprehensive and collision coverage with a $1,000 deductible

For more information, we provide a detailed explanation of MoneyGeek’s methodology.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.