In New York, average annual car insurance costs vary by coverage: full coverage averages $2,510, while minimum coverage is about $1,392. Factors influencing premiums include age, coverage level, location, driving record and credit history.
How Much Is Car Insurance in New York? (November 2024)
Updated: November 14, 2024
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Why Trust MoneyGeek? MoneyGeek analyzed New York auto insurance rates using data from the New York Department of Insurance and Quadrant Information Services.
These rates reflect the average cost of car insurance in New York as of November 2024.
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Average Car Insurance Costs in New York
The average full coverage car insurance in New York costs approximately $2,510 annually. Understanding the average car insurance rates in your area ensures you know if you're being quoted fairly. Compare car insurance quotes now to find affordable options.
Below is a guide for what you might pay for auto insurance in New York, whether you're considering minimum or full coverage.
| 100/300/100 Full Cov. w/$1,000 Ded. | $2,510 | $209 |
| 100/300/100 Liability Only | $1,765 | $147 |
| State Minimum Liability Only | $1,392 | $116 |
Why Are Car Insurance Rates Moderate in New York?
Car insurance in New York is relatively expensive compared to other states. Full coverage costs an average of $2,510 per year or $209 per month, while the national average is $1,358 per year or $113 per month. The state minimum coverage costs New York drivers an average annual premium of $1,392 or $116 per month, significantly exceeding the national average of $628 per year or $52 per month.
New York's high car insurance rates stem from its dense population, increased accident and theft risks and strict state coverage requirements.
Average Car Insurance Costs in New York by Company
Car insurance rates vary per company, even within the same state. Kemper offers an annual average premium of $1,121 for New York drivers seeking the cheapest full coverage. Hanover is the most costly provider at $5,300 per year.
Comparing quotes from different providers can save you money and help you find the cheapest car insurance in New York.
Data filtered by:Results filtered by:
Coverage:
Coverage:Full Coverage
Age Group:
Age Group:30-59
| Kemper | $1,121 | $93 |
| Progressive | $1,148 | $96 |
| American Family | $1,588 | $132 |
| GEICO | $1,919 | $160 |
| Erie | $2,168 | $181 |
| State Farm | $2,415 | $201 |
| Allstate | $2,420 | $202 |
| Chubb | $2,614 | $218 |
| Travelers | $2,760 | $230 |
| Mercury | $4,152 | $346 |
| Hanover | $5,300 | $442 |
Average Car Insurance Costs in New York by Coverage Level
The cost of car insurance in New York is also contingent on the level of coverage selected. For instance, minimum coverage averages $116 monthly, whereas full coverage with a $1,000 deductible typically costs around $209 monthly. Despite the higher expense, acquiring full coverage insurance is advisable to ensure comprehensive financial protection in the event of an accident.
Adding comprehensive and collision coverage to your policy will escalate your premium, though selecting higher deductibles can mitigate that surge. It's important to remember that the deductible dollar amount applies separately to each comprehensive and collision claim filed.
| State Minimum Liability Only | $1,392 | $116 |
| 100/300/100 Liability Only | $1,765 | $147 |
| 300/500/300 Liability Only | $2,076 | $173 |
| State Minimum Liability w/ Full Cov. w/$1,000 Ded. | $2,226 | $186 |
| State Minimum Liability w/ Full Cov. w/$1,500 Ded. | $2,262 | $189 |
| State Minimum Liability w/ Full Cov. w/$500 Ded. | $2,310 | $192 |
| 100/300/100 Full Cov. w/$1,000 Ded. | $2,510 | $209 |
| 100/300/100 Full Cov. w/$1,500 Ded. | $2,545 | $212 |
| 100/300/1000,000 - 500 comp_coll | $2,593 | $216 |
| 300/500/300 Full Cov. w/$1,000 Ded | $2,708 | $226 |
| 300/500/300 Full Cov. w/$1,500 Ded. | $2,744 | $229 |
| 300/500/300 Full Cov. w/$500 Ded. | $2,792 | $233 |
Minimum Car Insurance Requirements in New York
In New York, the minimum car insurance requirements include $25,000 bodily injury liability per person, $50,000 liability per accident and $10,000 property damage liability per accident. Other requirements include $25,000/$50,000 for uninsured/underinsured motorists, mandatory no-fault coverage of $50,000 personal injury protection per person, $50,000 death liability per person and $100,000 death liability per accident.
$25,000 for bodily injury liability per person
This is the minimum amount required in New York to cover the injuries of one person in an accident you cause.
$50,000 for bodily injury liability per accident
This covers the total cost of injuries to multiple people in an accident you're responsible for up to the policy limit.
$10,000 for property damage liability per accident
This amount covers the damage you may cause to someone else's property during an auto accident.
$25,000 uninsured motorist bodily injury per person
New York requires this coverage to protect you from injuries per person caused by uninsured drivers.
$50,000 uninsured motorist bodily injury per accident
This is the total coverage for injuries by uninsured drivers in an accident, regardless of the number of people hurt.
$50,000 personal injury protection (PIP) per person
PIP coverage is mandatory in New York and covers medical expenses, lost wages and other costs for you, regardless of fault.
$50,000 death liability per person
In the unfortunate event of a death resulting from an accident, this is the minimum coverage for one person.
$100,000 death liability per accident
This is the total coverage for all deaths resulting from a single accident, subject to this maximum limit.
Average Car Insurance Costs in New York by City
Car insurance premiums can vary significantly based on location. In New York, full coverage costs about $1,257 annually in Rochester, while in New York City, it can reach $3,060.
Driving history, age, vehicle model, credit score and the selected coverage level also affect rates.
Average Car Insurance Costs in New York by Age
Younger drivers (ages 22 to 29) pay more for car insurance in New York, averaging $2,965 annually or $247 monthly due to inexperience and higher accident risk. Adults (ages 30 to 59) benefit from lower rates, averaging $2,510 annually or $209 monthly. Seniors (60+) see a slight increase in premiums, averaging $2,586 annually or $216 monthly, as insurers perceive a higher risk with age.
Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
| 22-29 | $2,965 | $247 |
| 30-59 | $2,510 | $209 |
| 60 + | $2,586 | $216 |
Average Car Insurance Costs in New York for Teens
In New York, age and gender impact car insurance premiums. A 16-year-old male driver added to a family policy averages $3,563 annually. Teens under 18 usually can't buy insurance without a parent or guardian. If a 16-year-old male gets an individual policy, it can exceed $6,599 annually.
Average Car Insurance Costs in New York for New Cars
The average annual cost for full coverage car insurance for a 2012 car model is $1,590, while a 2022 model has a higher premium of $1,851. Newer models often have a higher actual cash value and repair costs and a greater risk of theft, leading to increased premiums.
If you have a new car, consider comprehensive and collision insurance, which covers many incidents, including accidents, natural disasters and vandalism.
Data filtered by:Results filtered by:
Coverage:
Coverage:Full Coverage
Age Group:
Age Group:30-59
| 2012 Vehicle | $1,590 | $133 |
| 2022 Vehicle | $1,851 | $154 |
ACTUAL CASH VALUE
Your vehicle's actual cash value (ACV) is the amount your insurance company will use to determine your comprehensive or collision claim payout. It reflects your car's market value, considering depreciation at the time of loss, ensuring that you receive fair compensation based on the vehicle's worth before the incident.
Average Car Insurance Costs in New York by Driving Record
The average cost of car insurance in New York varies depending on your driving record.
- With a ticket: $2,852 per year; $238 per month
- With an at-fault accident: $2,753 per year; $229 per month
- With a DWI: $3,812 per year; $318 per month
The severity of a violation directly affects car insurance premiums. Serious violations increase your rates, impacting your premiums as long as they remain on your record. In New York, a DWI can stay on your record for up to 10 years, affecting your insurance costs.
The table below shows average insurance costs in New York for various driving records, categorized by coverage type and age group.
Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
Age Group:
Age Group:30-59
| Clean | $2,510 | $209 |
| At-fault Accident | $2,753 | $229 |
| Ticket | $2,852 | $238 |
| DUI | $3,812 | $318 |
Average Car Insurance Costs in New York by Credit Score
Car insurance costs in New York vary greatly based on credit scores. Average annual premiums range from $1,580 for excellent credit to $5,849 for poor credit.
Higher credit scores typically lead to lower insurance rates, as insurers view these drivers as less risky. Credit scores fall into these categories: poor (300 to 579), fair (580 to 669), good (670 to 739), very good (740 to 799) and excellent (800 to 850).
Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 w/ $1000 Deductible
Age Group:
Age Group:30-59
| Excellent | $1,580 | $132 |
| Good | $1,968 | $164 |
| Fair | $2,568 | $214 |
| Below Fair | $3,624 | $302 |
| Poor | $5,849 | $487 |
Factors Affecting Car Insurance Rates in New York
Several factors can affect your car insurance rates in New York, including collision and comprehensive coverage costs. Understanding these factors can help you make informed decisions about your insurance.
- Driving Record: A clean driving history can lead to more affordable insurance rates, while traffic violations and accidents typically raise premiums.
- Age and Experience: Younger, less experienced drivers often face higher rates due to their increased risk of accidents.
- Credit Score: Insurers may use your credit score to gauge risk, which can affect insurance costs. A higher score can equate to lower rates.
- Vehicle Type: Luxury and sports cars usually have higher insurance costs than economy or mid-range models.
- Location: Urban areas with higher traffic density and theft rates may experience higher insurance premiums.
- Annual Mileage: The more you drive, the more you're at risk for accidents, which can lead to increased insurance costs.
- Coverage Level: Opting for more than the state minimum coverage will increase your premium, but it offers better protection. For instance, full coverage costs more but includes both collision insurance and comprehensive insurance.
- Discount Eligibility: Discounts like multi-car or safe driver can significantly lower your insurance rates.
How to Save Money on Car Insurance in New York
To find affordable car insurance in New York, shop around, raise your deductible and maximize available discounts.
Compare Quotes
Regularly comparing quotes can help you find the most affordable car insurance in New York. Insurers often adjust their rates, so stay informed.
Increase Your Deductible
Opting for higher deductibles can lower your premiums. Ensure you can afford the out-of-pocket expense in the event of a claim.
Maintain a Clean Driving Record
A clean driving record can lead to lower insurance costs. Avoid traffic violations and accidents to qualify for better rates.
Bundle Policies
Bundling auto insurance with home or renters' insurance can provide significant savings. Insurers offer discounts for multiple policies.
Seek Discounts
Look for discounts such as safe driver, multi-car or good student. Every discount helps reduce the overall cost of your policy.
Choose the Right Vehicle
Selecting a car that's cheaper to insure can lead to savings. Research which models have lower insurance costs before purchasing.
Review Your Coverage Needs
Review your coverage annually to ensure it still meets your needs. Adjusting your coverage can lead to savings without compromising protection.
FAQ: Car Insurance Costs in New York
Get answers about what impacts the average cost of car insurance in New York and how you can find affordable rates.
What are the minimum car insurance requirements in New York?
The minimum car insurance requirements in New York are $25,000 for bodily injury liability per person, $50,000 for bodily injury liability per accident, $10,000 for property damage liability per accident, $25,000 uninsured motorist bodily injury per person, $50,000 uninsured motorist bodily injury per accident, $50,000 personal injury protection (PIP) per person, $50,000 death liability per person and $100,000 death liability per accident.
What is the average cost of full coverage and minimum coverage auto insurance in New York?
Auto insurance in New York can vary in cost. Full coverage with a $1,000 deductible costs around $2,510 per year or $209 per month. Minimum coverage, which is less comprehensive, costs about $1,392 per year or $116 monthly.
What is the average cost of car insurance for a 22-year-old in New York?
The average cost of car insurance for a 22-year-old in New York varies depending on coverage level. The annual premium for full coverage with a $1,000 deductible is $2,965 or $247 monthly. Opting for 100/300/100 liability only costs an average of $2,060 per year or $172 monthly. Minimum coverage costs around $1,618 per year or $135 per month.
What are the cheapest car insurance companies in New York?
Kemper and Progressive are the cheapest car insurance companies in New York, offering minimum coverage at around $646 and $731 per year, respectively.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.