What Is the Minimum Auto Insurance Coverage in New York?

Table of Contents

  • New York Auto Insurance Costs by Insurer
  • New York Auto Insurance Rates by Driver Age
  • New York Car Insurance Costs by Gender and Marital Status
  • New York Insurance Rates After a Violation or Accident
  • New York Auto Insurance Premiums by Credit Tier
  • Expensive New York Cities
  • Cheaper New York Cities
  • Resource Section
  • List of Insurance Companies in New York
  • No-Fault Insurance in New York Information

    If you’re wondering, “What is the minimum auto insurance coverage in New York?,” you should know that this state has comparatively high requirements. Every driver must have auto liability coverage, personal injury protection, property damage liability, and uninsured motorist bodily injury coverage. The following are the minimum auto insurance coverage limits in New York:

    • Bodily injury liability coverage per accident: $50,000
    • Bodily injury liability coverage per individual: $25,000
    • Liability for death coverage per accident: $100,000
    • Liability for death coverage per individual: $50,000
    • Property damage liability coverage per accident: $10,000
    • Personal injury protection coverage: $50,000
    • Uninsured motorist bodily injury coverage per accident: $50,000
    • Uninsured motorist bodily injury coverage per individual: $25,000

      New York Auto Insurance Costs by Insurer

      When you’re buying auto insurance, it’s worthwhile to do some comparison shopping, because insurance premiums can vary greatly from one insurance company to another. According to ValuePenguin, State Farm is the insurer that offers the cheapest rates for minimum auto insurance coverage in New York. Its premiums are 27 percent lower than the state average. Below is a list of the most affordable car insurance providers in New York:

      • State Farm: $1004
      • Progressive: $1209
      • GEICO: $1292
      • New York average: $1373
      • New York Central Mutual (NYCM): $1590
      • Travelers: $1772
      • Allstate: $2028

        New York Auto Insurance Rates by Driver Age

        As in other states, 20-something drivers in New York generally pay extremely high auto insurance premiums. However, they’ll most likely get better rates as they gain more driving experience. According to NerdWallet, the following companies offer the best rates for young drivers who want to obtain only minimum state coverage:

        • Progressive: $1238
        • GEICO: $1289
        • NYCM: $1434
        • Erie: $1452
        • Utica National: $1608

          Drivers in their 30s can get the lowest premiums for minimum coverage from these insurers:

          • Utica National: $626
          • Preferred Mutual: $646
          • Progressive: $768
          • GEICO: $782
          • Erie: $825

            Below are the insurance companies that provide the most affordable minimum auto insurance for 40-somethings:

            • Utica National: $626
            • Preferred Mutual: $646
            • Progressive: $763
            • GEICO: $779
            • Erie: $789

              Drivers in their 50s can save substantially by purchasing minimum coverage from the following companies:

              • Utica National: $535
              • Preferred Mutual: $543
              • Progressive: $716
              • Erie: $770
              • GEICO: $788

                Those who are 65 years old should check with the insurance providers below if they want the best rates for minimum car insurance:

                • Utica National: $575
                • Preferred Mutual: $580
                • Progressive: $740
                • Erie: $775
                • GEICO: $810

                  New York Car Insurance Costs by Gender and Marital Status

                  In most cases, married drivers in New York pay lower car insurance premiums than single drivers. Also, insurers usually charge female drivers higher rates than their male counterparts. According to The Zebra, the average auto insurance rates in New York by marital status and gender are:

                  • Married: $1399
                  • Single: $1443
                  • Divorced: $1424
                  • Widowed: $1424
                  • Male: $1443
                  • Female: $1467

                    New York Insurance Premiums After a Violation or Accident

                    Insurance companies consider their customers’ driving histories when calculating premiums, including traffic violations and accident involvement. If you received a ticket for speeding or distracted driving in the past, you can get the lowest insurance rates from these insurers:

                    • Erie: $2166
                    • GEICO: $2635
                    • Allstate: $2709
                    • State Farm: $2736

                      The insurance providers below offer the most competitive premiums to drivers with DUI or DWI violations:

                      • Progressive: $2736
                      • State Farm: $2736
                      • Allstate: $3092
                      • Erie: $3224

                        New York Auto Insurance Costs by Credit Tier

                        Credit scores can have a big impact on auto insurance rates. A report from Experian revealed that the average credit rating in New York is 712, which is slightly higher than the national average of 710. If your credit score is lower than this, you might have to pay considerably higher insurance premiums. The following insurers are the most affordable for drivers with bad credit:

                        • GEICO: $2941
                        • Nationwide: $3062
                        • Allstate: $4328
                        • Erie: $4726

                          Expensive New York Cities

                          Your auto insurance premium might also vary depending on your place of residence. If you live in a large, congested city where accidents and vehicle theft are more common, be prepared to pay a higher rate. However, you might be able to lower your premiums by investing in an anti-theft system. According to CarInsurance.com, these are the major cities with the highest average auto insurance premiums in New York:

                          • New York City: $3868
                          • Mount Vernon: $3050
                          • Yonkers: $2776
                          • New Rochelle: $2440

                            Cheaper New York Cities

                            You can expect your car insurance costs to be substantially lower if you live in one of these New York cities:

                            • Schenectady: $1539
                            • Aurora: $1543
                            • Rochester: $1577
                            • Syracuse: $1684

                              List of Insurance Companies in New York

                              Besides offering competitive premiums, a good insurance company should also have a trustworthy reputation and the ability to meet the needs of all kinds of drivers. MoneyGeek used a variety of reliable information to identify the best auto insurance providers in New York, including AM Best’s financial stability ratings and J.D. Power’s customer satisfaction data.

                              USAA took the top spot with a perfect score of 100 out of 100. While it excelled in every area, this insurer serves active and inactive military members and their families exclusively. Travelers came in second with 90 points, followed by State Farm (87.5), MetLife (87.5), GEICO (85), and Allstate (82.5).

                              No-Fault Insurance in New York Information

                              When it comes to auto insurance, New York is a no-fault state. This means you’re required to have auto insurance coverage to protect you from losses after an accident. Such insurance covers the costs of treating your injuries and repairing your damaged vehicle. It doesn’t matter who is responsible for causing the accident.

                              Sources:

                              https://www.nerdwallet.com/blog/insurance/cheapest-car-insurance-in-new-york-ny/

                              https://www.valuepenguin.com/best-cheap-car-insurance-new-york

                              https://www.moneygeek.com/insurance/auto/cheapest-car-insurance-new-york/

                              https://www.thezebra.com/auto-insurance/new-york-car-insurance/ny-average-cost-of-auto-insurance/

                              https://www.carinsurance.com/state/New-York-car-insurance.aspx

                              https://www.experian.com/blogs/ask-experian/consumer-credit-review/

                              https://www.caranddriver.com/car-insurance/a35590611/car-insurance-premium/

                              https://www.caranddriver.com/car-insurance/a35291739/why-do-you-need-car-insurance/

                              https://www.caranddriver.com/car-insurance/a35292862/cheap-car-insurance-after-accident/

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