The average cost of car insurance in New York City is $4,103 per year. This rate is higher than the state average of $3,433 by $670. On average, the cheapest insurer that’s also widely available is GEICO, costing $2,161 per year. If you wish to purchase a car insurance policy that combines quality service and affordable costs, MoneyGeek recommends the best options based on various coverage amounts and driving histories.
Compare the Cheapest Car Insurance Quotes in New York, NY
The Cheapest and Best Car Insurance in New York
The Cheapest Car Insurance Companies in New York
The companies with the lowest average rates for a full coverage car insurance policy in New York are:
- USAA: $1,828 per year (only current and former military members are eligible)
- GEICO: $2,161 per year
MoneyGeek’s study used car insurance prices for a sample 40-year-old male driver to calculate the average costs across insurers. The driver has a full coverage policy with liability insurance plus comprehensive and collision coverage that reimburses the cost of damage to his own vehicle.
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Average Cost of Car Insurance in New York
In New York City, the average annual cost of car insurance is $4,103, which is much higher than both the New York state and the national average cost of car insurance. Drivers in New York City pay 19.5% more than the average annual cost of car insurance in New York State and 188.1% more than the national average.
The Best Car Insurance Companies in New York
New York City drivers seeking to purchase car insurance coverage that incorporates low costs and quality service can use MoneyGeek’s ranking of the best companies in the city to find an ideal provider.
MoneyGeek’s scoring system considered J.D. Power’s affordability, user satisfaction and financial stability ratings, among other factors, while ranking insurers in New York City out of 100. Based on these scores, the best insurance providers in the city for most drivers are:
- Travelers: MoneyGeek score of 90 out of 100
- State Farm: MoneyGeek score of 88 out of 100
USAA received the highest score in New York City by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
Personalized Quotes to Get You the Cheapest Car Insurance in New York
When determining car insurance quotes in New York City, car insurance companies rely on several factors to evaluate the risk associated with the driver. These factors include age, gender, make and model of the vehicle and ZIP code, among others. For instance, in New York City, a GEICO policy for an 18-year-old driver is nearly four times more expensive than a policy for a 40-year-old driver. Regularly getting a personalized quote can help you find affordable coverage as your circumstances change.
Shopping around for car insurance in New York could save you $1,942, which is enough to buy:
Cheapest Car Insurance in New York by Coverage Amount
In New York and elsewhere, your car insurance cost depends on the coverage amount you choose. There is a difference of roughly $1,372 between a minimum liability policy and a full coverage policy with higher liability limits. On average, a liability-only policy costs $2,732 per year, whereas full coverage costs $4,103.
New York Minimum Liability Requirements
- Bodily Injury and Property Damage$25,000 per person, $50,000 per accident and $10,000 for property damage. A more protective level is 100/300/100.
- Uninsured Motorist$25,000 per person and $50,000 per incident. The minimum coverage may not be enough if you're in a serious accident.
- Personal Injury Protection$50,000 per person.
- Other$50,000 liability for death per person. $100,000 liability for death per accident.
Many insurance plans are written to express the limits for each type and level or coverage. GEICO offers both 50/100/50 liability and full-coverage plans, which cover $50,000 worth of medical bills, totaling $100,000 per vehicle, along with $50,000 worth of property damage repair. The full-coverage policy, which also covers your expenses in the event of an accident, costs $475 more than a liability-only policy, which could be a valuable spend for some drivers.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- Company50 / 100 / 50per year100 / 300 / 100per year
Cheapest Car Insurance in New York if You Have Driving Violations
One of the penalties of having a speeding ticket or other moving violation on your driving record is higher insurance rates. For example, in New York City, Allstate policyholders with a speeding ticket on their record will pay nearly $600 more for their car insurance than drivers with a clean record. Drivers with a DUI on their record will pay $1,048 more for Allstate coverage than drivers with a clean record.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
Average Cost of Car Insurance by Postal Code
Where you live in New York can play a big role in how much your car insurance will cost, and that’s definitely true in New York City. For example, those living in the city’s most affordable neighborhood for car insurance — 10002 — will pay almost $2,000 less in annual car insurance premiums than drivers living in the 11230 neighborhood, the city’s most expensive ZIP code for auto coverage.
- Zip CodeState Minimumper year
Top Agents Offering Affordable Car Insurance in New York
Factors That Impact Insurance Costs in New York
In addition to individual driver needs and history, location-specific factors like personal injury protection coverage requirements and the rate of car thefts also contribute to car insurance rates in New York. How New York ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for New York are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
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