The best cheap car insurance in New York

The best cheap car insurance in New York

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When you’re shopping for the best cheap

car insurance
in New York, there are a few factors you’ll want to consider. While the Insurance Information Institute estimates the typical New Yorker will spend $1,349 each year on car insurance premiums (the amount you pay yearly for insurance), there are ways to get better rates. 

Car insurance companies consider your location, age, gender, and driving record to calculate rates. Other factors like credit score, marital status, vehicle type, previous coverage, and miles driven can all play a role in the amount you’ll pay for coverage.

By shopping around, you can price compare and see what company has the best cheap

auto insurance
quotes for you. There’s no “one size fits all” approach to car insurance — everyone’s information and life situation is different, meaning that every insurance company will assess their risk, and price their premiums, differently.

Here are the best cheap auto insurance companies in New York.

Minimum car liability insurance requirements in New York

Liability coverage is required by law. If you’re involved in an accident, liability insurance covers damage you cause to the other vehicle, driver, and its passengers. If you finance or lease your car, your lender probably requires comprehensive and collision coverage

The two main components of liability insurance are bodily injury and property damage, which most states require. Liability insurance also includes uninsured motorist and underinsured motorist coverage, to protect you when an at-fault driver hits you and they have no coverage, or not enough coverage.

New York requires bodily, property, personal, uninsured, and underinsured coverage, according to the Insurance Information Institute. New York’s minimum liability requirements are 25/50/10, which means up to $25,000 of injury protection for each person involved in an accident, up to $50,000 worth of injuries per incident, and up to $10,000 of property damages per incident. 

The best cheap car insurance in New York based on credit score

Consumer Reports compiled information on which companies generally provide the most affordable car insurance in each state, calculated based on each company’s pricing formulas for each state. There are four that generally came up as the best cheap car insurance companies in New York, although the top pick varies by credit score:

Best car insurance for clean driver record

For a driver in New York state age 25 or older with no accidents and one vehicle, the following companies provide the best average rates:

*USAA is only for active military, veterans, and their families.

Above data obtained from Savvy, based on 5,248 policyholders in the state of New York

Best car insurance for one or more accidents on record

For a driver in New York state, age 25 or older, with one or more accidents and one vehicle, the following companies provide the best average rates:

Above data obtained from Savvy, based on 5,248 policyholders in the state of New York

Average premiums for seniors and teen drivers in New York

The table below shows the average senior and teen drivers can expect to pay in New York. Because teen drivers are new drivers with little driving history and more prone to accidents, their rates are high. New York is the third most expensive state to insure a teen driver. However, most insurance companies offer discounts to teen drivers for good grades or taking driving safety classes.

Senior drivers typically see an uptick in car insurance premiums as they age, but not as much of an increase as new or teen drivers. If you’re still driving in your 60s and 70s, there are ways to negotiate cheaper auto insurance rates, like pay-per-mile usage.

Data provided by Goosehead Insurance

Best car insurance in New York based on customer satisfaction

Customer satisfaction with car insurance providers may factor into your decision. According to J.D. Power, a consumer research company that surveys customers, these are the top ten in New York, based on customer rankings:

New York car insurance rates by city

Below is the estimated average annual premium of auto insurance policies per household in New York’s most populous cities.

The above data was obtained from S&P Global Market Intelligence.

The following are the most popular car insurance companies in New York, based on the percentage of insured New York drivers who use them:

*USAA is only for active military, veterans, and their families.

Above data obtained from S&P Global Market Intelligence.

Who gets the best car insurance rates in New York?

As you probably noticed above, people with the best credit get the lowest car insurance premiums. Generally, drivers in more rural areas will also get better rates — someone living in upstate New York will generally pay less than someone in New York City. 

But that’s just the tip of the iceberg when it comes to calculating insurance premiums. Insurance companies will also look at factors like your age, gender, and the type of car you’re insuring. Your driving history will also play a part in your insurance costs. 

Every insurance company looks at these factors differently. That’s why it’s so important to get quotes from several different insurance companies, and compare them to make sure that you’re getting the best deal. 

When you’re comparing, don’t just look at the premium. Look for the limits that are listed with each liability, or type of coverage. The greater the coverage amount, the better the policy. Look for the one with the most coverage that fits your budget.

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