New York Car Insurance – Cheapest Auto Insurance in New York
Buying the best auto insurance policy can be challenging when there are dozens of companies to choose from, all of which are advertising that they offer the cheapest car insurance in New York. The frustrating part is that premium rates in NY differ drastically depending on where you live and which car insurance company you get a quote from, so choosing the wrong insurer can be very costly if you don’t do your research and find cheap quotes online.
To help consumers pick the best coverage for their needs, MyCarInsurance123.com has published detailed data on how to get cheap car insurance in New York, including which companies offer the cheapest rates in each city. Furthermore, consumers will also find information on New York car insurance laws, regulations, and minimum liability coverage requirements. By leveraging our research and findings, you can rest assured you’re getting the best car insurance rates in New York.
Average Car Insurance Rates in New York
In 2018, the average cost of car insurance in New York was $113 per month or $1,350 per year, which was cheaper than the national average of $135/month, or $1,625 annually. If your monthly or annual premiums are higher than the state average, you should compare car insurance quotes online to get lower rates.
New York Car Insurance Requirements
New York auto insurance requires you to have at least $25,000/$50,000/$10,000 coverage. These minimum liability requirements mean that your insurer will cover you up to $25,000 per injured person and up to a total of $50,000 per accident, including medical expenses. Any property damage, including public and private property repairs and claims, will be covered up to $10,000.
However, consumers should keep in mind that these minimum car insurance requirements are exceptionally low given the high cost of living in New York and that most insurance experts recommend buying a policy with at least $100,000/$300,000/$100,000 coverage. Higher liability limits for your New York car insurance policy serve to protect your personal financial assets.
New York Car Insurance Coverage
- Minimum Bodily Injury Liability: $25,000/$50,000 Limit
- Minimum Property Damage Liability: $10,000 Limit
- Uninsured/Underinsured Motorist Bodily Injury: $25,000/$50,000 Limit
- Personal Injury Protection: $50,000 Limit
Car insurance companies in New York must also offer uninsured/underinsured motorist coverage of $25,000 per person, and $50,000 per car accident, limiting your out-of-pocket expenses in case the other driver has no coverage.
Lastly, car insurance in New York must include personal injury protection (PIP) coverage in the minimum amount of $50,000. Personal injury protection is a “no-fault” coverage, meaning your insurance company will cover your medical expenses and lost wages regardless of which driver is at-fault for the accident.
Basic no-fault coverage in New York with a limit of $50,000 per person pays for the following:
- Accident-related medical expenses, rehab, funeral costs, etc.
- 80% of lost income or wages due to injuries from a car accident, up to $2,000 per month for 3 years
- Up to $25 per day for a year to cover childcare services or household help
- A $2,000 death benefit
If PIP limits are exceeded, then the at-fault driver’s liability car insurance coverage pays for the balance.
New York Car Insurance Laws
New York has no-fault insurance laws to help injured persons get immediate medical care after a car accident. When you have no-fault auto insurance coverage (PIP), your car insurance company will cover medical expenses after a car accident regardless of who is at-fault.
However, most New York auto insurance policies state that a policyholder forfeits his PIP benefits if he was driving while intoxicated or impaired by drugs, intentionally causing his own injuries, injured while committing a felony, or driving an uninsured vehicle.
Proof of Insurance
In New York, all drivers must have proof of insurance. Without proof of insurance, you may be fined between $150 and $1,500 and sentenced to 15 days in jail. Your license and registration may also be suspended and your car impounded.
If you no longer own valid car insurance for a vehicle, you must turn in your vehicle plates immediately. If there is a lapse in liability insurance and you do not surrender your vehicle’s plates, the New York DMV will suspend your license and registration and a civil penalty may be assessed. This is in addition to any other fines or convictions. Driving without valid car insurance is also seen as a traffic violation in New York.
No Grace Period
In New York, there is no grace period before you renew your auto insurance policy or obtain coverage on a new car. New York laws require that you mail in your renewal forms at least 15 days before your policy lapses.
Cheap Car Insurance in New York
Here is a list of the cheapest car insurance companies in New York. Finding the best auto insurance company is especially important when you live in expensive New York cities such as New York City, The Bronx, Brooklyn, Manhattan, Queens, Hempstead, and Staten Island.
| Rank | Company | Average Annual Rates |
|---|---|---|
| 1 | Geico | $799 |
| 2 | USAA* | $845 |
| 3 | Erie | $907 |
| 4 | Allstate | $969 |
| 5 | Central Mutual | $1,272 |
| 6 | NYCM Insurance | $1,274 |
| 7 | Encompass | $1,301 |
| 8 | Liberty Mutual | $1,314 |
| 9 | Utica National | $1,318 |
| 10 | State Farm | $1,362 |
| 11 | Preferred Mutual | $1,432 |
| 12 | Amica | $1,627 |
| 13 | MetLife | $1,706 |
| 14 | Hanover | $1,720 |
| 15 | Nationwide | $2,937 |
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Please note that USAA is a specialty insurer and only serves military members and their families.
Cheapest Auto Insurance in New York By City
Below is a breakdown of the cheapest car insurance rates in New York by city and company. If your current premiums are higher, maybe it’s time to complete an auto insurance comparison online to find lower rates.
| City | Cheapest Insurer #1 | Cheapest Insurer #2 | Cheapest Insurer #3 | |||
|---|---|---|---|---|---|---|
| New York | Geico | $1,397 | USAA* | $1,613 | Allstate | $1,719 |
| Hempstead | USAA* | $1,326 | Erie | $1,512 | Geico | $1,554 |
| Buffalo | Geico | $798 | Erie | $966 | USAA* | $990 |
| Babylon | Geico | $1,200 | USAA* | $1,212 | Allstate | $1,290 |
| Bronx | Geico | $1,590 | Allstate | $1,650 | Erie | $2,375 |
| Brooklyn | Geico | $1,632 | Allstate | $1,836 | USAA* | $1,935 |
| Manhattan | Geico | $1,119 | USAA* | $1,386 | Allstate | $1,685 |
| Queens | Geico | $1,340 | USAA* | $1,557 | Allstate | $1,763 |
| Staten Island | Geico | $1,266 | USAA* | $1,446 | Allstate | $1,457 |
| Rochester | Geico | $534 | USAA* | $648 | Erie | $738 |
| Huntington | Geico | $1,068 | USAA* | $1,212 | Allstate | $1,314 |
| Syracuse | USAA* | $672 | Geico | $690 | Erie | $726 |
| Amherst | Geico | $678 | Erie | $822 | Allstate | $960 |
| Albany | Geico | $666 | USAA* | $696 | Erie | $744 |
| Auburn | Geico | $666 | USAA* | $690 | Erie | $696 |
| Binghamton | USAA* | $624 | Erie | $684 | Geico | $684 |
| Elmira | Geico | $606 | USAA* | $654 | Erie | $660 |
| Fairport | Geico | $534 | USAA* | $648 | Erie | $738 |
| Farmington | Geico | $606 | USAA* | $636 | Erie | $690 |
| Garden City | Geico | $1,170 | USAA* | $1,326 | Allstate | $1,422 |
| Ithaca | Geico | $678 | Geico | $678 | USAA* | $702 |
| Jamestown | Geico | $666 | USAA* | $684 | Erie | $690 |
| Lawrence | USAA* | $1,326 | Geico | $1,356 | Erie | $1,512 |
| Massapequa | Geico | $1,056 | USAA* | $1,176 | Erie | $1,260 |
| Middletown | Geico | $972 | USAA* | $1,002 | Erie | $1,116 |
| Mineola | Geico | $1,170 | USAA* | $1,254 | Allstate | $1,422 |
| Newburgh | USAA* | $708 | Geico | $1,002 | Erie | $1,116 |
| Niagara Falls | Geico | $762 | Erie | $816 | USAA* | $816 |
| Poughkeepsie | USAA* | $876 | Geico | $900 | Erie | $978 |
| Rome | Geico | $672 | USAA* | $702 | Erie | $786 |
| Schenectady | Geico | $690 | Erie | $702 | USAA* | $726 |
| Troy | Geico | $642 | Erie | $726 | USAA* | $726 |
| Utica | USAA* | $702 | Geico | $780 | Erie | $786 |
| Webster | Geico | $534 | USAA* | $648 | Erie | $738 |
| White Plains | Geico | $918 | USAA* | $1,038 | Allstate | $1,068 |
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Largest Car Insurance Companies in New York
Here is a list of the largest auto insurance companies in New York ranked by market share.
| Rank | Company | Market Share |
|---|---|---|
| 1 | Geico | 29.0% |
| 2 | Allstate | 15.5% |
| 3 | State Farm | 12.5% |
| 4 | Progressive | 6.9% |
| 5 | Liberty Mutual | 6.5% |
| 6 | Travelers | 4.7% |
| 7 | Nationwide | 2.9% |
| 8 | NYCM | 2.6% |
| 9 | USAA | 2.6% |
| 10 | Hartford | 2.0% |
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