Average cost of car insurance in New York

New York is home to more than 13,000,000 licensed drivers. This makes it the fourth-ranked state with the highest number of drivers. Millions of New Yorkers are asking about the cost of New York’s car insurance. Although there are many drivers on the roads, it may prove more difficult to find the lowest rates when you inquire about car insurance. New Yorkers the average car insurance rate is $2,321 per annum for full coverage. This makes New York one of the most expensive places to buy insurance.

What is the cost of New York’s car insurance?

Premiums in New York are as diverse as the cities in the Empire State. This is due to the fact that premiums are based upon a variety of personal factors. It is based on your age, gender and marital status. New Yorkers have some of the highest rates, with minimum coverage at $1,062 per year and full coverage at $2,321.

New York Car Insurance Rates by Company

The top car insurance companies in New York offer high customer satisfaction ratings, financial strength, and competitive rates to New Yorkers.

Car insurance rates in New York by city

Your state, as well as your zip code, will directly impact the cost of auto insurance. In some cases, the cost of auto insurance can vary from one city to another by as much as three times.

Cost of living in New York City and insurance for cars

It is important to consider your other expenses when shopping for car insurance rates New York. This will allow you to calculate your total living costs. Below is a graph that shows New York’s average annual cost of living, which includes the average cost for car insurance. This graph can be used to determine your annual expenses and help you decide on the best insurance rates for your budget.

New York Car Insurance Rates by Age

The age of your driver has a significant impact on the amount you pay. According to the CDC , the higher the chance of an accident occurs for those younger than 50. Your premiums will decrease as you age, and the risk of being involved in an accident diminishes with each passing year.

New York car insurance rates based on driving record

Your driving record can have an impact on your premiums. Your driving record can have an impact on the amount you pay.

How to Save on New York Car Insurance

Although New York is the most expensive state for auto insurance there are many ways to reduce your premium.

  • Compare all the options: It is possible to cut down on your car insurance premiums by comparing different carriers.
  • Discounts: Every carrier offers its own discount list. There are many discounts, from bundling policies to good graces.
  • Credit score improvement: How much you pay for your premiums directly affects your credit score. Your premiums will be lower if you have a better credit score.
  • Increase your deductible. Your deductible is how much you pay out-of-pocket. Your premiums will rise if you have a low-deductible. You can lower your premiums up to $500 per year by raising your deductible

New York’s car insurance requirements

New York has the following minimum coverages:

  • Ten Thousand Dollars property damage liability for a single accident
  • $25,000 for bodily injuries to one person, $50,000 for bodily injuries to all persons
  • $50,000 for bodily injuries and $100,000 for deaths for two or more victims of an accident
  • $50k mandatory no-fault coverage or personal injury protection (PIP).
  • Uninsured motorist coverage: $25,000. Per person, $50,000 for everyone

New York has a higher minimum coverage requirement than other states. However, it is worth considering carefully before settling for the minimum. If you are involved in an accident involving multiple cars and serious injuries, $50,000 would not cover your bodily injury liability.

Questions frequently asked

Is New York an exception to the rule?

Yes, New York is an no fault state. No matter who is found at fault, each driver involved in an accident in New York must file a claim with their insurance company. This means that you must have PIP insurance as part of your policy.

Which New York car insurance company is best?

You need to compare several factors among different carriers in order to find the best car insurance company . These factors include financial strength, customer service ratings and the quality of digital assets. Bankrate also reviewed these factors and found that USAA, New York Central Mutual, and New York Central Mutual were all highly ranked.

How can I get cheap New York car insurance?

Rates are determined by a number of factors including your location, driving record, vehicle, credit score, and coverage options. Compare multiple insurance companies and compare all discounts available from each. Bankrate compared several quotes and found that Main Street Mutual and Geico offer the lowest rates to New York drivers.