Finding the cheapest car insurance in NY can help you save a few dollars each month. This translates to hundreds of dollars saved annually by getting the right rate. Even drivers who have less than perfect credit or a bad driving record can find cheap insurance rates.
New York Auto Insurance Costs by Insurer
If you’re looking for full coverage auto insurance in New York, Progressive tends to have some of the best rates. Progressive’s rates are usually up to 15 percent cheaper in New York than other average insurance rates. USAA may also be an affordable full-coverage option for New York drivers who qualify, sometimes offering rates that are even better than Progressive.
A full-coverage auto insurance policy includes liability, comprehensive, and collision coverage. If you are in an accident, full-coverage liability insurance will cover damages, even if you were at fault. Collision coverage pays for the driver’s damages.
New York Auto Insurance Premiums by Driver Age
Younger drivers tend to pay more for car insurance. Younger drivers pay, on average, $7,791 per year for full coverage, which is approximately three times the rate of other drivers. For the minimum coverage in New York, younger drivers pay an average of $3,638 per year or $303 per month, which is about $2,200 more than other drivers.
Younger drivers in New York will often find the best minimum coverage insurance rates with NYCM, with rates averaging $3,000 per year. For the cheapest insurance rates for younger drivers, Progressive offers rates that are about 10 percent less than average.
A car accident increases insurance rates significantly, which means younger drivers who have also been in a car accident in which they were at fault will often face more expensive insurance rates. Younger drivers in New York who also have an at-fault car accident on their record will find the best rates with Progressive, which offers rates that are $1,740 cheaper, on average.
Speeding tickets can also increase insurance rates for younger drivers, although usually not as much as being in an at-fault car accident does. Progressive is the best option for younger drivers in New York with a speeding ticket on their record. With this company, you can expect full coverage rates that are up to 18 percent cheaper, on average.
New York Car Insurance Premiums by Gender and Marital Status
Married drivers can qualify for discounted insurance rates. Studies found that, on average, married drivers pay $4 less per year compared to unmarried drivers. Progressive is the best insurance provider for married couples in New York, with GEICO and State Farm closely following.
Average New York Insurance Rates after a Violation or Accident
State Farm is an affordable choice for New York drivers who have recently been in an accident. State Farm tends to be 16 percent cheaper for drivers who have been in a car accident than other New York insurance companies. A 16-percent decrease in insurance rates translates to about $3,627 per year in premium savings.
Sometimes, securing an affordable insurance policy after you have been declared at fault in an accident can be costly. The amount of time an accident stays on your record depends on many factors, according to NerdWallet. Drivers with an at-fault car accident on their record may find affordable insurance rates through providers like NYCM and GEICO. When compared to other providers, NYCM and GEICO tend to increase rates of at-fault drivers minimally, up to $50 per year.
Speeding tickets can also increase insurance rates. New York drivers with a speeding ticket on their record can find cheaper insurance through Progressive. Progressive is, on average, $621 cheaper each year for drivers with a speeding ticket.
DUI charges also increase full-coverage insurance rates by as much as 42 percent in New York. Progressive Insurance or State Farm are the best options for drivers with a DUI on their record.
New York Auto Insurance Premiums by Credit Tier
Credit ratings can also affect insurance rates, with drivers who have a bad credit rating paying up to 60 percent more than traditional rates. Drivers with poor credit often find the best insurance rates from GEICO. GEICO’s full-coverage rates are usually 42 percent cheaper on average and approximately a $128 increase for drivers with less than perfect credit.
List of Insurance Companies in New York
The average rate of car insurance in New York will vary, depending on the type of vehicle, your driver record, zip code, credit rating, and type of insurance. The cheapest car insurance options in NY include the following:
- USAA: Average insurance rates of $1,622 annually
- GEICO: Average insurance rates of $1,867 annually
- Erie: Average insurance rates of 1928 annually
- Allstate: Average insurance rates of $2,206 annually
- Progressive: Average insurance rates of $2,286 annually
- State Farm: Average insurance rates of $2,481 annually
- Nationwide: Average insurance rates of $3,093 annually
- Travelers: Average insurance rates of $3,482 annually
- New York Central Mutual Fire: Average insurance rates of $3,745 annually
- MetLife: Average insurance rates of $4,776 annually
- Esurance: Average insurance rates of $4,874 annually
- The General: Average insurance rates of $7,026 annually
No-Fault Insurance in New York Information
ValuePenguin, an agency that compares data across numerous insurance providers, has found that the average New Yorker pays $1,373 each year for the minimum auto insurance.
State Farm tends to be the cheapest insurance provider when buying no-fault car insurance for New York drivers. A minimum policy refers to the minimum amount of insurance coverage that a driver can carry while still meeting New York’s legal insurance requirements. State Farms premiums tend to be up to 27 percent less than the state’s average. The cheapest insurance in New York is State Farm, with average minimum insurance rates of $1,004 each year.
Of course, it is important to consider how much insurance coverage you need. While minimum coverages have the cheapest premiums, they could end up costing you more if you file a claim. You may end up having to pay for repairs if your policy is limited. On average, New Yorkers pay approximately $2,777 per year for car insurance, or $231 each month. The best way to find cheaper insurance rates is to compare rates among different insurance providers.
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