Cheapest Car Insurance in New York City (2022)
On average, drivers in New York City pay $ 562 a calendar month for full-coverage car policy. The minimum-coverage modal is $ 387 a month .
This high rate is largely due to factors such as New York being a no-fault state and population concentration. If you live in New York City, you could pay 216 % more than the national average of $ 178 a month for full coverage .
This makes finding the cheapest car indemnity quote all-important. In order to help with this, we looked at rates, policy offerings and customer satisfaction trends of the seven biggest car insurance companies in New York City. USAA has the cheapest average rate of $ 306 a calendar month for full-coverage car indemnity. however, it lone provides insurance to presently serving or retire military. If you ‘re a civilian, State Farm has the cheapest average rate of $ 318 a calendar month .
How much is car insurance in New York City?
New York City drivers pay an average $ 562 a month for a full-coverage car indemnity policy. That ‘s 36 % higher than the New York department of state average of $ 412. The table under shows how New York City rates compare to the national and state rates :
| Region | Annual rate | Monthly rate |
|---|---|---|
| New York City | $6,744 | $562 |
| New York | $4,943 | $412 |
| U.S. | $2,133 | $178 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
New York state already has high premiums due to factors that affect your car insurance rates. New York is prone to extreme upwind and is a no-fault policy department of state. This means that your policy covers your injuries careless of who is responsible for an accident. New York City ‘s rates are higher than the state median largely due to population density and a high car larceny rate .
Best, cheapest car insurance companies in New York City
We looked at the biggest cable car insurers in New York City and found that USAA has the lowest average rate of $ 306 a calendar month for full-coverage car insurance. The second-best rates are from State Farm, at $ 318 a month. Third is Progressive, with a adult jump to $ 482 a month. At the highest end, Allstate customers pay $ 884 a calendar month on average .
In New York City, the cost of your car indemnity policy will likely be a major deciding factor in which company you go with. There are, however, early considerations. policy offerings that fit your specific needs and customer atonement trends need to be looked at equally well. We cautiously considered the options available to you and found these to be the best .
USAA: cheapest rates and best for Armed Forces
USAA ‘s average rate for full-coverage car insurance in New York City is $ 306 a calendar month. That ‘s 26 % lower than New York department of state ‘s average rate of $ 412 and 46 % cheaper than the New York City average
| Average monthly rate | |
|---|---|
| USAA | $306 |
| New York City | $562 |
| New York | $412 |
| U.S. | $178 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
On top of low rates, J.D. Power gives USAA systematically excellent ratings for customer atonement. For 2021, J.D. Power rated USAA 868 out of 1,000. The USAA fink is not part of J.D. Power ‘s official rate. That ‘s because USAA ‘s service is strictly limited to members of the military and their families .
If you are a stream or retire member of the Armed Forces living in NYC, USAA is credibly your best choice. They have car policy policy benefits specifically for members of the military, such as international car policy coverage if you ‘re stationed overseas and bounty discounts if you live on a U.S. base.
State Farm: cheap rates and most popular
State Farm ‘s median full-coverage pace is $ 318 a calendar month, 43 % cheaper than the New York City average and 23 % less than the department of state average. Unless you are in the military or retired from service, this is the cheapest pace available to New York City drivers .
state farm rates in New York City vs. regional rates
| Average monthly rate | |
|---|---|
| State Farm | $318 |
| NYC | $562 |
| New York | $412 |
| U.S. | $178 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
state of matter grow besides stands as the most popular insurance supplier of the seven we looked at. According to S & P Global Market Intelligence, State Farm held 16.73 % of the car insurance market share in 2020. This degree of popularity lines up with State Farm ‘s customer serve trends. J.D. Power gave State Farm the highest rate of 859 out of 1,000 in 2021 for overall customer atonement .
New York minimum auto insurance requirements
New York law requires drivers registered in the state to carry the watch minimal limits of car indemnity :
- Bodily injury liability per person: $25,000
- Bodily injury liability per accident: $50,000
- Property damage liability per accident: $10,000
You are besides required to carry the postdate liability death benefits policy :
- Per person killed per accident: $50,000
- For all deaths in an accident: $100,000
It ‘s significant to point out that these minimum liability levels will not probably cover you in the event of a dangerous accident. If you hit person and they have a long hospital stay, that $ 25,000 bodily injury limit may be reached quickly. And $ 10,000 might not cover the surrogate of a totaled car if it ‘s raw. any costs from an accident that surpass your policy limits will come out of your scoop. This can seriously strain your finances .
In order to avoid this scenario, consider raising your car policy liability limits to the watch :
- Bodily injury per person: $100,000
- Bodily injury per accident: $300,000
- Property damage liability per accident: $100,000
Methodology
We used Quadrant Information Services to generate thousands of car policy quotes from every ZIP code in New York City from the succeed providers :
Read more: The Best Car Insurance Companies for 2022
- Allstate
- GEICO
- NYCM
- Progressive
- State Farm
- Travelers
- USAA
The sample car used to generate quotes was a 2012 Honda Accord LX with 13,500 annual miles and a 35-year-old driver with a clean driving record .
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