You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the adept advice and tools needed to succeed throughout life ’ s fiscal journey. Bankrate ’ s editorial team writes on behalf of YOU – the reader. Our finish is to give you the best advice to help you make smart personal finance decisions. We follow rigorous guidelines to ensure that our column message is not influenced by advertisers. Our column team receives no conduct recompense from advertisers, and our content is thoroughly fact-checked to ensure accuracy. so, whether you ’ re reading an article or a inspection, you can trust that you ’ re getting credible and reliable information. We value your trust. Our mission is to provide readers with accurate and indifferent information, and we have editorial standards in station to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you ’ re read is accurate. We maintain a firewall between our advertisers and our column team. Our editorial team does not receive target compensation from our advertisers. Bankrate follows a rigid editorial policy, so you can trust that we ’ ra putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right fiscal decisions. All providers discussed on our locate are vetted based on the value they provide. And we constantly review our criteria to ensure we ’ rhenium putting accuracy beginning. Our policy team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — monetary value, customer service, policy features and savings opportunities — thus you can feel confident about which provider is right for you. Bankrate follows a stern column policy, so you can trust that we ’ rhenium putting your interests first. All of our message is authored by highly restricted professionals and reviewed by national topic experts, who ensure everything we publish is objective, accurate and worthy of your faith. Founded in 1976, Bankrate has a farseeing track record of helping people make smart fiscal choices. We ’ ve maintained this repute for over four decades by demystifying the fiscal decision-making action and giving people confidence in which actions to take future. While we adhere to strict column integrity, this mail may contain references to products from our partners. here ‘s an explanation for how we make money. This content is powered by HomeInsurance.com ( NPN : 8781838 ). For more information, please see our Insurance disclosure. Based on Bankrate ’ s research, regional carrier Main Street America, which is an engage company of the American Family Insurance group, is the cheapest car insurance company in New York for both minimum and full coverage. The carrier has an average annual cost of $ 304 for minimal coverage. You don ’ t have to skimp on coverage to find cheap car insurance, though. We besides found that Main Street America offers the cheapest full coverage in the Empire State, with an average bounty of $ 761 per year. On average, New York drivers pay $ 1,062 per year for minimal coverage and $ 2,321 per class for fully coverage, according to Bankrate ’ south 2021 analyze of quoted annual premiums. Like most states, New York requires its residents to maintain at least sealed minimum car insurance coverage levels. car insurance is a compulsory expense if you are a fomite owner, but you can still find ways to ensure your budget stays on track. If you are looking for bum car indemnity in New York, Bankrate ’ s inquiry may help you find a policy that fits your budget .
The cheapest car insurance companies in New York
To find the cheapest car indemnity in New York, Bankrate partnered with Quadrant Information Services to obtain up-to-date bounty information for the largest car policy providers by market share. additionally, we reviewed each company ’ sulfur J.D. Power customer satisfaction scores and AM Best fiscal intensity ratings to showcase carriers with more to offer than plainly humble prices .
The cheapest companies for minimum coverage in New York
“ Minimum coverage ” refers to purchasing alone the state-required coverage types and limits. While buying just minimum coverage could help keep your indemnity costs moo, most indemnity professionals advise that you purchase higher limits for greater fiscal auspices. If you are looking for minimum coverage car insurance in New York, these five national and regional carriers are some of the cheapest companies, based on our research :
Read more: The Best Car Insurance Companies for 2022
|Car insurance company||Average annual minimum coverage premium||Average monthly minimum coverage premium|
|Main Street America||$304||$25|
The cheapest companies for full coverage in New York
Full coverage by and large comes with a higher modal monetary value than minimal coverage because it adds more fiscal protection to your policy. Full coverage includes both comprehensive coverage and collision coverage, which cover price to your vehicle from both collision and non-collision incidents. When it comes to wide coverage, these five national and regional carriers are among the cheapest in New York :
|Car insurance company||Average annual full coverage premium||Average monthly full coverage premium|
|Main Street America||$761||$63|
Events that can impact your cheap rates in New York
Because car insurance premiums are based on your individual rat factors, your premium and coverage needs could change when your life sentence changes. You might consider selecting a newly provider for your car indemnity policy or updating your existing coverage if you have recently :
- Added a teen driver: Teen drivers are inexperienced and insurance companies tend to charge relatively high premiums to compensate for their higher-than-average accident rates. However, you can take steps to lower your premium. Getting quotes from several carriers and taking advantage of student discounts could help you find a cheaper rate.
- Received a speeding ticket: Speeding tickets are relatively common, but insurance companies still view citations as an indication of high-risk driving behavior. If you get a speeding ticket, your premium will likely increase via a surcharge after the ticket is added to your motor vehicle record, with the higher rate staying in effect for three to five years, depending on the company. How fast you are driving over the posted limit could also impact your premium increase.
- Been involved in an at-fault accident: Similar to tickets, at-fault accidents can also increase your premium via a surcharge for an average of three to five years. If your premium has been impacted by an at-fault accident, you might consider getting quotes from other insurance companies or re-evaluating your discounts to ensure you are taking advantage of all your savings opportunities. You may also want to seek out carriers that offer “accident forgiveness” programs for a first-time at-fault accident, where no surcharge is applied to your policy.
- Been deemed a high-risk driver: Each insurance company has its own metric for what constitutes a high-risk driver. Most providers view multiple accidents, excessive speeding citations or a DUI conviction on your record to mean you are a high-risk driver and will charge you much more than typical rates. Although your options could be more limited — you may not be eligible for insurance coverage with some companies — you might benefit from getting quotes.
Cheapest cities in New York for minimum coverage
The average cost of New York car policy may vary based on your city and evening your ZIP code. densely populated areas like New York City and boroughs like Manhattan, Queens and the Bronx tend to have more cars on the road, meaning the gamble of accidents is naturally higher. Because of this, drivers in urban areas tend to pay higher average rates than more sparsely-populated areas of the Empire State. If you live in one of the pursue five cities, you may pay some of the cheapest rates for minimum coverage in the state :
|City||Average annual minimum coverage premium||Average monthly minimum coverage premium|
Cheapest cities in New York for full coverage
Full coverage car indemnity tends to cost more than minimal coverage because it adds more fiscal protection, according to the Insurance Information Institute ( Triple-I ). In addition to this, urban areas like Buffalo and Rochester tend to have higher costs of live, which can affect cable car insurance premiums. The higher cost for fomite repairs and labor movement, in addition to higher checkup bills, can increase the price of car indemnity in these areas. Drivers in these five cities pay some of the lowest average rates for full coverage in New York State :
|City||Average annual full coverage premium||Average monthly full coverage premium|
Minimum coverage requirements for New York drivers
New York State requires its drivers to carry at least certain minimum coverage limits to drive legally. In New York, your car policy policy must have at least the follow coverage types and limits :
- $25,000 bodily injury liability per person and $50,000 death per person
- $50,000 bodily injury liability per accident and $100,000 death per accident
- $10,000 property damage liability per accident
- $50,000 personal injury protection (PIP)
- $25,000 statutory uninsured motorist bodily injury liability per person
- $50,000 statutory uninsured motorist bodily injury liability per accident
According to the Triple-I, New York has the third-lowest estimate share of uninsured drivers in the U.S at 4.1 %. Drivers in New York have two options for uninsured motorist coverage : statutory and auxiliary. statutory coverage merely applies to accidents that happen within state limits. auxiliary coverage is available at minimum limits or higher limits and provides coverage outside of the express. supplementary uninsured motorist coverage besides includes underinsured motorist coverage. Most insurance experts recommend that you purchase higher liability limits than the state minimum. If you cause an accident and the damages and injuries exceed your insurance limit, you are responsible for the overage out of pocket, which could leave you with hefty bills and be financially devastating to you and your family. additionally, if you have a lend or lease on your fomite, your lender or lessor will likely require you to carry wide coverage .
Here is how to find (and keep) cheap car insurance in New York
New York has a higher average price for car insurance than many other states, but you can calm find cheap car insurance that fits your needs. There are respective ways you can benefit from low-cost rates in the Empire State :
- Take advantage of discounts: Most insurance companies offer car insurance discounts to their policyholders. Every company has a different list of discounts, and taking advantage of the ones you qualify for may help you save money. One of the most common discounts is bundling your auto and home coverage with the same insurer, which will generate savings on both policies.
- Avoid driving incidents: Policyholders with clean driving records and safe driving habits tend to avoid the surcharge that can occur after an accident or ticket. If you go three to five years or longer without an at-fault accident or moving violation, you might be rewarded with a claims-free discount and a safe-driver discount.
Frequently asked questions
What is the best car insurance in New York?
The best car indemnity party in New York is different for every driver. Each consumer has a unique fit of circumstances when searching for car policy. These may include the driver ’ sulfur wants and needs, the type of car they drive, their motive fomite history and the ages of the drivers on their policy. Understanding your own situation and getting quotes from a few different companies will enable you to compare rates, coverage offerings, discounts and policy features so that you can find the right fit for you .
How much does car insurance in New York cost?
The average rates for car indemnity in New York State is $ 2,321 per year for full coverage and $ 1,062 per year for minimum coverage, which are 39 % and 88 % higher than the national averages, respectively. however, the actual rate you will pay depends on more than a twelve person rat factors including your age, gender, citation score, ZIP code, make and model of your vehicle, coverage types and levels you choose, car call history and the discounts for which you qualify. Based on these aspects, your premium may be higher or lower than the department of state average .
Is car insurance required in New York?
The State of New York legally requires that all drivers carry at least the state of matter minimum levels and types of car insurance coverage. If you choose to drive without indemnity in New York, you could face significant consequences, which include having your license suspended, your fomite impounded and incurring fiscal penalties up to $ 1,500 per trespass. If you cause an accident without policy, you ’ ll be responsible for paying for the damages and injuries you cause out of air pocket, which could be financially devastating to you and your family. While minimal coverage is all that is required to drive legally in the Empire State, you may be required to carry wax coverage if your vehicle is leased or if you have an car loanword. Most policy experts besides encourage drivers to purchase liability limits in excess of the express minimum for more fiscal protection .
What happens if I file an auto insurance claim?
Although vehicle damage, accidents and other mishaps are never on anyone ’ mho disturbance list, they do happen. When they do, your car insurance may be able to help, at least financially. If you file a claim, though, you may want to brace yourself for a agio increase at your reclamation. After an at-fault accident, the average agio increase on a full coverage policy is 38 %. however, flush not-at-fault accidents could increase your premium a bit, specially if you lose a claim-free dismiss. Remember, though, that you carry indemnity to protect you from fiscal adversity. If you don ’ t have the funds available to take worry of the damages after an accident, filing a claim could be the best fiscal affect, flush if it results in higher premiums. Talking with an agent about your situation could help you decide if filing a claim or paying out of pocket is the right move .
What is the NYAIP?
The NYAIP ( New York Automobile Insurance Plan ) is a way for bad drivers in New York to receive car insurance coverage when it is not available through the private market. You may purchase NYAIP coverage through a local anesthetic agent or you can buy directly from the Automobile Insurance Plan online or via phone.
Read more: Getting Car Insurance for New Drivers (2022)
Bankrate utilizes Quadrant Information Services to analyze stream rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean drive record, good recognition and the follow full moon coverage limits :
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state ’ s requirements. Our basis profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually. These are sample rates and should merely be used for relative purposes .