Average cost of auto insurance in New York (2021 rates)

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New York City has over 13 million licensed drivers, making it the fourth highest number of drivers of any state. This means that the cost of auto insurance in New York is a question asked by millions of locals. Although you will find many drivers on the road, finding the cheapest rates can be more difficult when researching auto insurance. The average auto insurance rate for New Yorkers is $ 2,321 per year for full coverage, which means New York is one of the more expensive states to purchase insurance.

How much does auto insurance cost in New York?

The range of cost of bonuses in New York is as varied as the cities of the Empire State. The reason for this is the number of personal factors that your premiums are based on. It is based on details such as your age, gender, marital status, driving record, vehicle, and zip code. New Yorkers pay some of the highest rates in the country, with minimum coverage averaging $ 1,062 per year and full coverage averaging $ 2,321.

New York auto insurance rates by company

The best auto insurance companies in New York not only offer high customer satisfaction rates and financial strength, but also offer competitive rates for New Yorkers.

Auto insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Allstate $ 1,335 $ 2,433
American family $ 2,817 $ 4,764
Chubb $ 1,140 $ 2,758
Erie $ 773 $ 1,629
Geico $ 821 $ 1,969
Kemper $ 1,627 $ 3,150
Main Street America Group $ 304 $ 761
MetLife $ 1,574 $ 3,134
NYCM $ 1,129 $ 2,669
Preferred mutual $ 577 $ 2,869
Progressive $ 695 $ 1,139
State farm $ 1,241 $ 2,333
United States $ 922 $ 2,137
National Utica $ 695 $ 5,075

New York auto insurance rates by city

It’s not just the state you’re in, but your city and zip code contribute directly to the amount you pay for auto insurance. The cost from city to city can be double or triple in some cases.

City Average annual premium for full coverage % difference from the average annual state premium
new York $ 4,959 114%
Rochester $ 1,568 -32%
Buffalo $ 2,292 -1%
Jamaica $ 5,055 118%
Rinsing $ 4,567 97%
Yonkers $ 2,972 28%
Syracuse $ 1,735 -25%
Astoria $ 4,410 90%
Albania $ 1,655 -29%
Schenectady $ 1,634 -30%
Crown $ 4,677 102%
Elmhurst $ 4,616 99%
Ridgewood $ 4,449 92%
Wood side $ 4,454 92%
Elmhurst East $ 4,679 102%
New Rochelle $ 2,560 ten%
Cheektowaga $ 2,222 -4%
Tonawanda $ 2,030 -13%
Binghamton $ 1,479 -36%
Far Rockaway $ 4,886 111%

Cost of living in New York and auto insurance

When shopping for the best auto insurance rates in New York City, it’s important to factor in your other expenses so that you look at your total cost of living. The chart below shows the average annual cost of living in New York City, including the average cost of auto insurance. Use this chart as a guide to help you determine your overall spending so you can decide which insurance rates are within your budget.

New York Auto Insurance Rates by Age

Age has a major influence on how much you pay. The younger the age, the greater the risk of being involved in an accident, according to the CDC. The older you get, the lower your risk and your premiums too.

* 16 years and 17 years calculated on the disclosure of the parents’ policy

New York auto insurance rates by driving record

Your premiums are impacted by your driving record. Flaws in your record such as speeding tickets, accidents, and DUIs all have a direct impact on how much you pay extra.

Driving incident Average annual premium in New York % increase in average annual premium
Speeding $ 2,547 9.73
Accident $ 2,628 13.22
DUI $ 4,307 85.56

How to save on car insurance in New York

Although New York is one of the most expensive states for auto insurance, luckily there are plenty of opportunities to save on your auto insurance premiums.

  • Compare the prices: Comparing one carrier to another is often the best way to save on your auto insurance premiums.
  • Discounts: Each carrier has their own list of discounts that you can take advantage of. From bundling policies to good graces, there is a wide variety of discounts available.
  • Improve Your Credit Score: Your credit is directly linked to the amount you pay for your premiums. The higher your credit score, the lower your premiums.
  • Increase your deductible: Your deductible is the amount you are responsible for out of your pocket. If you have a low deductible, your premiums will increase. By increasing your deductible, you reduce your premiums up to $ 500 per year.

New York Auto Insurance Requirements

New York requires the following minimum insurance coverage:

  • Civil liability for property damage of $ 10,000 per accident
  • $ 25,000 for bodily injury liability for one person and $ 50,000 for bodily injury to all persons
  • $ 50,000 for bodily injuries and $ 100,000 for the death of two or more people in an accident
  • Mandatory no-fault coverage of $ 50,000 or Personal Injury Protection (PIP)
  • Coverage for uninsured motorists: $ 25,000 per person and $ 50,000 for all persons

While New York City requires more minimum coverage than other states, you should still think twice before selecting only the bare minimum. For example, the $ 50,000 for bodily injury liability would probably not be enough to cover multiple injuries if you were involved in an accident involving multiple cars with serious injuries.

Frequently Asked Questions

Is New York a Flawless State?

Yes, New York is a flawless state. This means that if you are involved in an accident in New York State, every driver must file a claim with the insurance company, regardless of who is found to be at fault. It also means that you need to carry PIP insurance on your policy, along with other minimum requirements.

What is the best auto insurance company in New York?

To find the best auto insurance company for your situation, you need to review several key points among the different carriers. Financial strength, customer service ratings, quality of digital assets, and hedging options are all important factors. Bankrate also looked at these points and found that New York Central Mutual and USAA were all high ranking.

How to find cheap auto insurance in New York?

Rates are based on a variety of factors, not only your location, but also your driving record, vehicle, age, gender, credit score, and coverage choices. To find cheap auto insurance, compare multiple carriers and review all of the discounts available for each. Bankrate reviewed several quotes and found that Geico and Main Street Mutual offer some of the lowest rates for New York drivers.

Methodology

Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a male and female driver with good credit and the following full coverage limits:

  • $ 100,000 liability for bodily injury per person
  • $ 300,000 in civil liability for bodily injury per accident
  • Civil liability for property damage of $ 50,000 per accident
  • $ 100,000 in bodily injury caused by an uninsured motorist per person
  • $ 300,000 in uninsured bodily injury per accident to a motorist
  • $ 500 collision deductible
  • Global deductible of $ 500

To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week and cover 12,000 miles a year.

Driving record rates were calculated by evaluating our baseline profile with the following incidents applied: clean record (baseline), at-fault accident, single speeding ticket, single impaired driving conviction, and lapse of coverage.

Age rates were calculated by evaluating our baseline profile with ages 18-60 (baseline: 40) applied.


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