The Cheapest Car Insurance in New York for November 2024
Living in New York can be expensive. We put together this list of the cheapest car insurance in New York to help you cut costs.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.Updated Nov 21, 2024 · 4 min read
NerdWallet analyzed rates for 19 insurers to find the cheapest auto insurance in New York. We reviewed rates for drivers of different ages, with different driving histories and coverage types to find the cheapest companies.
At a glance: The cheapest car insurance in New York
NYCM offers the cheapest minimum coverage in New York, with an average rate of $328 per year, according to NerdWallet's November 2024 analysis.
The absolute cheapest policies offer just bare minimum coverage. The average cost of minimum coverage in New York is $912 per year, or $76 per month.
Full coverage in New York costs an average of $2,436 per year, or $203 per month.
The cheapest minimum coverage insurance in New York
Below is the cheapest car insurance in New York for minimum coverage required by the state. Rates are based on a 35-year-old driver with good credit and a clean driving history.
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| NYCM | $328 | $27 |
| Preferred Mutual | $560 | $47 |
| Sterling Insurance | $607 | $51 |
| Travelers | $648 | $54 |
| Erie | $659 | $55 |
If you’re looking for top-of-the-line auto coverage, check out our list of the best car insurance in New York.
If you’re looking for the cheapest car insurance in your city, NerdWallet also analyzed rates for some of the largest New York cities, including:
- Buffalo
Below are the cheapest insurers we found in Buffalo for a 35-year-old good driver with good credit. To see the full list, read NerdWallet's analysis of car insurance in Buffalo.
Category Cheapest Company Median annual rate Clean driving history NYCM $1,356 After a DUI Progressive $1,560 After an accident NYCM $1,682 After a speeding ticket NYCM $1,658 Having poor credit Preferred Mutual $2,060
- New York City
Below are the cheapest insurers we found in New York City for a 35-year-old good driver with good credit. To see the full list, read NerdWallet's analysis of car insurance in New York City.
Category Cheapest Company Median annual rate Clean driving history Progressive $3,068 After a DUI Progressive $3,181 After an accident Progressive $3,975 After a speeding ticket Progressive $3,518 Having poor credit Chubb $4,641
See what you could save on car insurance
Easily compare personalized rates to see how much switching car insurance could save you.Keep reading to find the cheapest car insurance in New York for different driver profiles and coverage types among:
More Nerdy Perspective
New York State doesn't require uninsured motorist property damage coverage. This means if your car gets damaged by a driver who got away with not sharing their insurance information with you, a minimum coverage policy won't pay for repairs. To anyone driving in the city, it might be worth considering full coverage car insurance that would pay to repair such damage — I've seen one too many dangling side mirrors on parallel parked cars to think otherwise!
Cheap auto insurance in New York for young drivers
Young drivers may have to get a lot of quotes to find the best cheap car insurance. Prices can be sky-high in your 20s, but tend to come down as drivers get more experience on the road. Still, some companies routinely have better insurance rates for young drivers, so it's best to shop around to find them.
Cheapest minimum coverage car insurance in New York for young drivers
For bare-bones coverage for 20-year-olds, these companies had the lowest average rates:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| NYCM | $475 | $40 |
| Progressive | $1,112 | $93 |
| Erie | $1,259 | $105 |
| Preferred Mutual | $1,328 | $111 |
| Central Insurance | $1,364 | $114 |
Cheapest full coverage car insurance in New York for young drivers
If you have a clean driving record consider the following companies, which had the lowest average rates for 20-year-old drivers:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| NYCM | $1,519 | $127 |
| Progressive | $2,295 | $191 |
| Erie | $2,845 | $237 |
| Sterling Insurance | $4,076 | $340 |
| Central Insurance | $4,194 | $349 |
Cheap auto insurance in New York for senior drivers
Car insurance costs may start to rise for older drivers, so it’s wise to shop around for the cheapest rates. You can also check for senior discounts. For example, some insurers offer discounts to senior drivers who take a defensive driving course.
Cheapest minimum coverage car insurance in New York for seniors
Drivers in New York who want just the state minimum coverage may want to check with these insurers, which had the lowest average rates for 70-year-old drivers:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| NYCM | $433 | $36 |
| Preferred Mutual | $518 | $43 |
| Sterling Insurance | $528 | $44 |
| Central Insurance | $627 | $52 |
| Utica National | $637 | $53 |
Cheapest full coverage car insurance in New York for seniors
Drivers in New York with clean driving records may want to think about getting quotes from these companies, which had the lowest average rates for 70-year-olds:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| NYCM | $1,172 | $98 |
| Preferred Mutual | $1,255 | $105 |
| Progressive | $1,336 | $111 |
| Erie | $1,382 | $115 |
| Travelers | $1,593 | $133 |
Cheapest car insurance in New York by driving record
Having a driving violation on your record is likely to increase your car insurance premium. How much more you’ll pay depends on the type of violation, your car insurance carrier and your other personal characteristics.
NerdWallet found the companies offering the lowest car insurance rates for 35-year-old New York drivers with different driving records. If you have multiple violations on your record, consider looking into the best high risk car insurance companies.
Cheapest car insurance in New York after a speeding ticket
If you recently got a speeding ticket in New York, check out these companies we found with the lowest average rates for minimum coverage:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| NYCM | $397 | $33 |
| Preferred Mutual | $560 | $47 |
| Sterling Insurance | $669 | $56 |
| Erie | $712 | $59 |
| Progressive | $773 | $64 |
Cheapest car insurance in New York after an accident
And here are the companies with the lowest average rates for minimum coverage and a recent at-fault accident in New York:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| NYCM | $397 | $33 |
| Preferred Mutual | $745 | $62 |
| Sterling Insurance | $817 | $68 |
| Erie | $818 | $68 |
| Progressive | $856 | $71 |
Cheapest car insurance in New York after a DUI
For drivers with a recent DUI in New York, here are the companies with the lowest average rates for minimum coverage:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| NYCM | $513 | $43 |
| Progressive | $698 | $58 |
| Erie | $1,075 | $90 |
| Preferred Mutual | $1,257 | $105 |
| Travelers | $1,388 | $116 |
» MORE: Getting an SR22 in New York
Cheapest car insurance in New York by credit history
Your credit history can impact your auto insurance rates in New York. Insurers use a credit-based insurance score, which is different from your regular credit score, to determine the likelihood you’ll file a claim. Your credit score is likely a good indicator of your credit-based insurance score.
Cheapest car insurance in New York for drivers with poor credit
NerdWallet found the companies offering the lowest car insurance rates for 35-year-old New York drivers with poor credit. Drivers with poor credit in New York can look at the following companies with the lowest average rates for minimum coverage:
| Company Name | Median annual rate | Median monthly rate |
|---|---|---|
| Preferred Mutual | $659 | $55 |
| Utica National | $704 | $59 |
| Sterling Insurance | $739 | $62 |
| NYCM | $765 | $64 |
| Farmers | $868 | $72 |
Cheapest car insurance for military families in New York
If you're an active member of the military or a veteran — or have an immediate family member who is — chances are you'll get a relatively cheap rate with USAA, a company that isn't available to the general public.
Because of that restriction, USAA isn't ranked with the others, but it was among the cheapest five auto insurance options for 40 of the 70 driver profiles we examined.
How we chose the cheapest companies in New York
NerdWallet’s editorial team analyzed car insurance rates from 19 auto insurers in New York and listed the five cheapest options for drivers in several age brackets and with different histories, all driving a 2021 Toyota Camry LE. For minimum coverage, we looked at rates that reflect the minimum requirements in New York. For full coverage, we used the below 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 coverage per person.
$300,000 uninsured motorist coverage per accident.
Collision coverage with a $1,000 deductible.
Comprehensive coverage with a $1,000 deductible.
- Why you can trust NerdWallet
Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our writing and data analyses. You can trust the prices we show you because our data analysts take rigorous measures to eliminate outliers and inaccuracies in pricing data, which include rates from every locale in New York where coverage is offered and data is available. When comparing rates for different coverage amounts, ages and backgrounds, we change only one variable at a time, so you can easily see how each factor affects pricing.
Minimum auto insurance limits required in New York
New York auto insurance laws require car owners to carry liability insurance, personal injury protection (PIP) and uninsured motorist bodily injury coverage (UMBI).
The minimum coverage limits in New York are:
$25,000 bodily injury liability per person.
$50,000 bodily injury liability per accident.
$50,000 liability for death per person.
$100,000 liability for death per accident.
$10,000 property damage liability per accident.
$50,000 PIP.
$25,000 UMBI per person.
$50,000 UMBI per accident.
Liability car insurance covers the cost of any damage, injuries or deaths you cause in a car accident, up to your policy’s predefined limits.
Personal injury protection will cover your medical bills and expenses if you’re injured in a car crash, up to your policy limits, no matter whose fault it was. Depending on your state, PIP may also pay for:
Lost wages if you’re unable to work due to injuries from an accident.
Services you can no longer perform, like house cleaning or child care, because of your injuries.
Funeral costs if an accident-related injury leads to death.
A small death benefit as a cash payout.
Uninsured motorist coverage will cover expenses from injuries or damage after an accident with a driver who doesn’t have car insurance. Underinsured motorist coverage will cover the same expenses if you’re hit by a driver with some car insurance, but not enough to cover all costs from the crash.
For the best financial protection, consider buying more than the bare minimum coverage. Any costs that surpass your coverage limits would have to come out of your own pocket, so with these minimums, a serious accident could easily leave you owing more than, say, $10,000 to repair another driver's car.
Risks of getting cheap auto insurance
Getting cheap car insurance usually means getting the barest coverage required by law in your state. But state requirements can be quite low and leave you financially vulnerable if you’re in a serious accident.
Getting the cheapest car insurance possible might also mean missing out on optional coverage types that can help cover your own injuries or property damage — for example, when you’re injured in an accident or if your car is banged up after a bad storm or a hit and run. To find cheap car insurance with more coverage, check out NerdWallet’s list of cheap full coverage insurance.
Alternative car insurance in New York
If car insurance companies are declining to offer you coverage due to DUIs, crashes or other factors, you could qualify for car insurance through the New York Automobile Insurance Plan (NYAIP).
For our “good driver” profile, NerdWallet averaged insurance estimates for single male and female drivers with good credit and no tickets or violations. The analysis included 5-10 of the largest insurance companies in each state; smaller insurers were also included when rates were available. Liberty Mutual and its subsidiaries were excluded from our analysis as rates were not available.
For full coverage policies, we used the following 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 coverage per person.
$300,000 uninsured motorist coverage per accident.
Collision coverage with a $1,000 deductible.
Comprehensive coverage with a $1,000 deductible.
In states where required, minimum additional coverages were added. Some policies include additional coverages at the insurer’s discretion.
We used a 2021 Toyota Camry LE for all drivers and assumed 12,000 annual miles driven.
We analyzed rates for drivers 20 to 70 years old in ten-year increments. For the average cost of full and minimum coverage in each state, we looked at 35-year-old drivers.
We used the same assumptions for all other driver profiles, with the following exceptions:
For drivers with minimum coverage, we adjusted the numbers above to reflect the minimum required coverage by law in the state.
We changed the credit tier from “good” to “poor” as reported to the insurer to see rates for drivers with poor credit.
For drivers with one at-fault crash, we added a single at-fault crash that happened six months ago, resulting in $10,000 in property damage and no bodily injury claim.
For drivers with a DUI, we added a single drunken driving violation that happened six months ago.
We looked at 35-year-old drivers to find the cheapest company overall, the cheapest company for minimum coverage and the cheapest company for drivers with poor credit in states where credit history is used to price rates. We looked at 20-year-old drivers to find the cheapest company for young drivers.
These are rates generated through Quadrant Information Services. Your own rates will be different. Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state.
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