Although the Bronx is a bustling, vibrant borough in New York City, car insurance can be quite costly.The average cost of car insurance in Bronx is $2,502 annually for minimum coverage and $5,271 per year for a full coverage policy.Rates for full coverage are more than three times the national average of $1,674 per year.Best car insuranceBronx can be a crucial part of your financial health if you don’t overpay for premiums.
Just in June, 2021, there were nearly 2,000 traffic accidents recorded in the Bronx. A car insurance policy that covers your needs can protect you against financial ruin if you are involved in an accident. Bankrate may be able to help you find the right Bronx car insurance for your needs, including appropriate coverages and discounts.
Bronx’s best car insurance companies
New York has many options for car insurance. The Bronx is no exception.The best car insurance companies in Bronx include Progressive, Erie, Geico and USAA.The editorial team at Bankrate selected these companies after reviewing the average rates of each carrier provided by Quadrant Information Services, customer support ratings, financial strength ratings, coverage options, and discounts.
Progressive was founded in 1937 and is the third largest provider of auto insurance in the United States. There are many coverage options to fit almost every budget, which the Name Your Prices Tool can help you locate. The discounts list is also impressive. Progressive offers a variety of savings options, including paperless statements and multi-vehicle discounts.
Erie is a regional provider and operates only in 12 states, New York included. Erie offers coverage options and discounts that rival national carriers. Erie was not awarded a score by the J.D. Power survey, the local agent network continues to remain popular. Erie currently allows customers to get quotes and coverage by using a local agent.
Geico, another large carrier is currently ranked second in the country according to auto insurance market share. Geico scored 827 points out of 1,000 in the J.D. survey, slightly lower than the industry average in New York for customer satisfaction. Power survey. Geico achieved the highest possible rating for financial strength with an A++ (Superior), rating from AM Best.
USAA offers coverage options for military personnel as well as their immediate families. There are many specialized features available in addition to the standard coverage. You can get an additional discount by garaging your vehicle at a military base or storing it if you are deployed.
Bronx has the lowest car insurance
For minimum coverage, the average cost of insurance in Bronx is $2502 per annum, while for full coverage policies, it’s $5,271. New York’s average auto insurance cost is $2,321 per year for full coverage. The national average premium for full coverage is $1,674 annually. Bronx drivers pay more for car insurance than those in other parts of the country.
Progressive, Erie, Geico, USAA and Allstate all offer competitive rates that are also below average for the Bronx.But, it is important to evaluate carriers based on other factors, such as financial strength or customer service ratings. All five carriers have at least an A+ (Superior), rating from AM Best. This indicates financial stability. Progressive and Geico offer the most generous discounts to customers, but all five carriers offer a variety of customer discounts.
Bronx insurance requirements
Not only is liability insurance required in the state of New York, but because of the no-fault laws, personal injury protection (PIP) coverage is also required.
The minimum requirements for insurance in New York are:
- $25,000 bodily injury liability per individual and $50,000 for death per person
- $50,000 bodily injury liability for an accident, and $100,000 death per accident
- Ten Thousand Dollars per accident property damage liability
- $50,000 personal injury protection (PIP)
- $25,000 statutory uninsured motorist bodily injury per person
- $50,000 per accident statutory uninsured motorist bodily Injury
New York offers two types of uninsured motorist coverage. They are statutory or supplemental. Statutory coverage covers only accidents that are within the state’s limits. Supplemental coverage can be purchased in minimum or higher limits. It also covers areas outside the state. Supplemental uninsured motorist coverage also covers damage from underinsured drivers.
Although purchasing only the minimum coverage required is usually less expensive, it provides lower financial protection. Insurance and financial experts advise that you have higher liability limits. Minimum coverage does not cover damage to your car. You will need to have full coverage.
Bronx car insurance discounts
One of the most popular ways to reduce premiums is by using discounts. Finding cheap insurance rates in Bronx is easier when you take advantage of as many discounts as possible.
- Multi-policy:Combining your auto insurance policy and the same carrier who provides renters, condo, or home insurance can often result in savings.
- Excellent studentA good student discount is a great way to save for full-time students in college or high school who have a minimum B average.
- Paid-in full:Another way to save is to pay a policy in one lump sum, rather than in monthly or quarterly payments.
- Automated paymentsA discount is often offered when you choose to have your premiums automatically drawn.
Different companies offer different discounts. It is worth looking online for options or speaking to a representative to find savings opportunities.
Questions frequently asked
Which is the best auto insurance company?
The best insurance company is different for everyone. Every person has different insurance needs. One driver may want a company that has solid digital tools, while another may be looking for the lowest possible price. Comparing quotes from different companies and understanding what you want from your insurance company can help you choose the best options.
What is the cost of car insurance in Bronx?
Bronx car insurance is an average cost of $2,502 per annum for minimum coverage, and $5,271 to get full coverage. Rates are dependent on many factors such as age, vehicle type, driving record, and coverages chosen.
What is no-fault coverage?
Personal injury protection (PIP), also known as “No-fault”, refers to coverage that covers personal injuries. This coverage covers you for your injuries and any other eligible expenses after an accident in no-fault countries. Contrary to what the name suggests, fault still exists in no-fault countries. In a collision, the at-fault driver is responsible for any property damage they cause.