Cheapest car insurance in New York in 2022

Based on research by Bankrate, regional carrier Main Street America, an operator of the American Family Insurance group, is the cheapest car insurance company in New York for even minimum coverage. and the whole. It has an average annual cost of $304 for minimal coverage. However, you don’t have to skimp to find cheap car insurance. We also found that Main Street America offers the cheapest full coverage in the Empire State, with an average premium of $761 per year.


On average, New York State drivers pay $1,062 per year for minimum coverage and $2,321 per year for full coverage, according to Bankrate’s 2021 study of cited annual premiums. . Like most states, New York requires its residents to maintain at least a certain minimum level of auto insurance. Car insurance is a mandatory expense if you’re a vehicle owner, but you can still find ways to make sure your budget stays consistent. If you’re looking for cheap car insurance in New York, Bankrate’s research can help you find a policy that fits your budget.


Get a quote Cheapest car insurance companies in New York 


To find the cheapest auto insurance in New York, Bankrate partnered with Quadrant Information Services to obtain up-to-date premium information for the largest auto insurance providers by market share. Additionally, we looked at each company’s JD Power customer satisfaction scores and AM Best financial strength ratings to recommend service providers that offer more than just price. short.


The cheapest companies for minimal coverage in New York 

“Minimum coverage” refers to purchasing only the types and limits of coverage required by the state. While buying only the minimum coverage can help keep your insurance costs low, most insurance experts recommend buying a higher limit for more financial protection.


If you’re looking for auto insurance with minimal coverage in New York, these five national and regional carriers are some of the cheapest, based on our research:


Car insurance company Average annual minimum coverage premium Average monthly minimum coverage premium
Main Street America $304 $25
Preferred Mutual $577 $48
Progressive $695 $58
Utica National $695 $58
Erie $773 $64

The cheapest companies for full coverage in New York

Full coverage usually comes with a higher average cost than minimum coverage because it adds additional financial protection to your policy. Full coverage includes both comprehensive coverage and collision coverage, covering damage to your vehicle due to both collision and non-collision incidents.


When it comes to full 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
Progressive $1,139 $95
Erie $1,629 $136
Geico $1,969 $164
USAA $2,137 $178


Events that may affect your cheap rates in New York 

Since car insurance premiums are based on your individual rating factors, your premiums and insurance needs may change as your life changes. You might consider choosing a new carrier for your auto insurance policy or updating your existing coverage if you’ve recently:


More Teen Drivers: 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 premiums. Getting quotes from several service providers and taking advantage of student discounts can help you find cheaper rates. Speeding Fines: Speeding fines are relatively common, but insurance companies still see a conviction as a sign of high-risk driving. If you are convicted of a speeding offence, your premium will likely be increased through a surcharge once the ticket is added to your motor vehicle record, with the higher rate going into effect. three to five years, depending on the company. How fast you drive over the posted limit can also affect your premium increase. Having a Fault Accident: Similar to a ticket, an accident at fault can also increase your premiums through a surcharge for an average of three to five years. If your premiums are affected by a fault accident, you may want to consider getting quotes from other insurers or re-evaluating your discounts to make sure you’re taking advantage of them all. your savings opportunities. You may also want to look for service providers that offer “accident forgiveness” programs for first-time accidents, where no surcharge is imposed by your policy. Considered a high-risk driver: Each insurance company has its own measure of what constitutes a high-risk driver. Most providers consider drivers who have had a lot of at-fault accidents, been cited for speeding, been convicted of a DUI or have a poor credit rating as high-risk drivers and will typically charge a fee. higher insurance. While your options may be more limited – you may not be eligible for coverage with some companies – you can benefit from getting a quote. Cheapest cities in New York with minimal coverage The average cost of car insurance in New York can vary depending on your city and even your ZIP code. Densely populated areas like New York City and counties like Manhattan, Queens, and the Bronx tend to have more cars on the road, which means a higher risk of accidents. As a result, motorists in urban areas tend to pay a higher average toll than in more sparsely populated areas of the Empire State.


City Average annual minimum coverage premium Average monthly minimum coverage premium
Campbell $589 $49
Corning $592 $49
Coopers Plains $592 $49
Gang Mills $592 $49
Painted Post $592 $49


Minimum coverage requirements for New York motorists New York 

State requires its motorists to carry at least a certain minimum coverage limit in order to legally drive. In New York, your auto insurance policy must include at least the following types and limits of coverage:


$25,000 in bodily injury liability per person and $50,000 in 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 in personal injury protection (PIP) $25,000 liability for uninsured motorist bodily injury per person $50,000 motorist’s bodily injury liability not covered by law per crash According to the Insurance Information Institute (Triple-I), New York has the third lowest estimated percentage of uninsured motorists in the US at 4.1%. New York motorists have two options for getting insurance for uninsured motorists: statutory and supplemental. Statutory coverage only applies to accidents that occur within state limits. Additional coverage is available at minimum or higher limits and provides coverage out of state. Additional insurance for uninsured motorists also includes coverage for uninsured motorcyclists.


Most insurance experts recommend purchasing a liability limit that is higher than the state minimum. If you cause an accident and the damage and injury exceed your coverage limit, you are liable for out-of-pocket expenses, which can leave you with hefty bills and financial loss to you and your family. Also, if you have a loan or lease on your vehicle, your lender or lessor will likely require you to carry adequate insurance.


Here’s how to find (and keep) cheap car insurance in New York 


New York has a higher average cost of car insurance than many other states, but you can still find cheap car insurance that suits your needs. There are several ways you can benefit from affordable rates in the Empire State:


Shop around: Insurance providers use proprietary algorithms to rank policies, which means prices will vary even for the same coverage. Shopping around can help you find affordable prices. If you can find a carrier that has some car insurance discounts for which you qualify, you could save even more. Combining your own auto and home policies with one carrier and applying a multi-policy discount is often one of the biggest savings opportunities. Avoid driving problems: Policyholders with a clean driving record and safe driving habits often pay lower premiums than drivers with a crash driving record. If you go three to five years or more without an accident or violation on the move, you may be rewarded with a discounted no-claims and a safe driver discount. frequently asked Questions What is the best car insurance in New York? The best car insurance company in New York is different for every driver. Every consumer has a unique set of circumstances when looking for auto insurance. These may include a driver’s wants and needs, the type of vehicle they drive, their motor vehicle history, and the age of their contract driver. Understanding your own situation and getting quotes from a number of different companies will allow you to compare prices, insurance offers, discounts, and policy features so you can find the right fit. me.


How much does car insurance in New York cost?


The average 2021 car insurance premium in New York State is $2,321 per year for full coverage and $1,062 per year for minimal coverage. However, the actual fee you’ll pay depends on more than a dozen individual ranking factors including the make and model of your vehicle, the type and level of insurance you choose, your car’s claim history, and more. you and the discounts for which you qualify. Your premiums will likely differ from the period and country averages based on your individual ratings.

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