Best car insurance in New York City for 2021

New York City’s extensive subway system, as well as its network of buses and taxis, is a great option for getting around. The city also has millions of individual drivers who drive their cars in all boroughs.

About 45% of the more than 3 million New York City households own a car . The ownership rates vary from one borough to the next. State Island has the highest number of households owning an automobile, at 83%. Manhattan, however, has the lowest percentage of automobile ownership per household, at 22%. Nearly half of New York City’s households own at least one car, but only 27% commute to work via their personal vehicle.

New York City’s average auto insurance rate is higher than the rest of the United States. The average annual expenditure for New York’s state is $2,205 for full coverage, and $962 for minimal insurance. This makes it the most expensive state for car insurance in the country. The cost of New York City insurance depends on many factors, such as where you live, how old you are, and your credit score.

If you are looking for auto insurance in New York City, consider whether additional coverage is necessary based on your driving habits, safety/security, vehicle value, and your financial situation.

The best car insurance companies in New York City

The best car insurance providers provide the best coverage at the most affordable prices. There are many insurance companies in New York City. These range from small-scale private insurance providers to large-scale industry giants.

J.D. J.D. Power is known for providing honest feedback from customers. The Power Circle Ratings are testimonials from customers around the globe. J.D. J.D. Power gives awards to companies with a maximum score above 1,000. Check out the following to find out how NYC’s top auto insurance companies stack up in terms of consumer feedback.

ProviderPremium for minimum annual coverageAverage premium for full coverage annuallyJ.D. J.D.
Erie$1,644$3,269NR
MetLife$4,809$9,273832/1,000
NYCM$2,552$8,022837/1,000
Progressive$1,440$2,146825/1,000
State Farm$2,558$3,992851/1,000

Erie

Erie offers some of the most affordable car insurance in New York City. The average full coverage premium is $3,269 per annum. Erie is not rated highly by New Yorkers as one of the best car insurance companies. This could be due to its smaller size. Erie consistently ranks in the top 3 in some other U.S. areas.

MetLife

J.D. J.D. For drivers who are covered by MetLife, the average annual full coverage premium is $9,273.

New York Central Mutual

J.D. One of the most popular insurance companies in New York is J.D. New York Central Mutual offers a variety of insurance agencies in the city. Its annual premiums average are similar to those of competitors, with an average full coverage premium of $8,022.

Progressive

Progressive offers the best car insurance in New York City with an average annual rate of $1,440. Basic coverage is available at the lowest cost. Progressive’s low premiums make it a good choice for car insurance. Coverage costs are nearly half that of NYCM or State Farm.

State Farm

State Farm is responsible for 851 of the 1,000 points awarded by J.D. Power’s responders. New York City drivers who are covered by State Farm will pay an average of $3,992 for an annual premium that includes full coverage.

Driving facts for New York City

New York City is the fourth-most congested US city in terms of traffic. It’s not surprising that there are so many motorists in this congested area. NYC traffic congestion costs NYC commuters approximately $1,860 each driver.

In July 2019, there were over 18,000 crashes in the entire city. These incidents affected 36,164 motorists and 1,816 passengers. These incidents resulted in 3980 injuries and 18 deaths. Distracted drivers were responsible for the majority of July 2019 accidents.

Other than traffic congestion and collisions that can affect vehicle safety in New York City, the rate at which cars are broken into is another factor. There were over 20,000 vehicle burglaries in 2017 and break-ins all across the city.

This risk makes it a good idea to put money into anti-theft security measures in order to protect your vehicle. These security measures can help lower your car insurance premium. In fact, New York State law requires that insurance companies offer a discount to drivers who do this.

Alarms, active and passive disabling devices as well as electronic tracking devices and window glass engravings are some of the anti-theft measures that can help you save money on New York City insurance.

Average New York City car insurance costs

There are many factors that go into calculating your New York City insurance policy premium. The cost of New York City car insurance is determined by the location where New Yorkers live.

Minimum coverage in New York City: Average annual premiumThe average annual premium for New York City full coverage
$285$1,264

New York City’s minimum insurance requirements

It is important to check the minimum state requirements when looking for auto insurance companies in New York City. The New York Department of Motor Vehicles requires that you maintain the following coverages.

  • $10,000 for property damage
  • $25,000 for bodily injuries/ $50,000 for accident fatalities
  • $50,000 for bodily injuries, $100,000 for multiple accident fatalities

This coverage must

  • You can continue to drive the vehicle as long as it is registered even if you are not using it.
  • Get insurance approved by the New York State DMV to cover you
  • Issued under the name and address of the automobile registrant.

How to get the best car coverage

To get the best car insurance in New York, you will need to do some research.

  • Before you start, assess your needs. If you are involved in an accident that results in serious injury, the minimum state insurance might not be sufficient. For losses exceeding the limits, you would be responsible. Liability insurance doesn’t cover any damage to your vehicle. Full coverage may be what you require, even though it is not the most affordable.
  • Take into account state factors. Knowing the drivers of your state is key to deciding on the type of coverage that you need can help you decide. If there are many uninsured drivers around your area, you may want to add uninsured motorist insurance. This will cover your losses if they are under- or uninsured.

Questions frequently asked

How can I lower my New York City insurance policy premium?

You can see a drop in your annual premium by taking driver education classes, installing anti-theft equipment and avoiding traffic incidents.

What additional coverages are available for my New York City insurance policy

To get the best value, you can add these coverages to your auto insurance.

  • Additional protection against personal injury (APIP).
  • Medical payments
  • Comprehensive
  • Collision
  • Towing and labor
  • Rental reimbursement
  • Supplemental uninsured/underinsured motorist bodily injury (SUM)