Key Takeaways:
- USAA stands out for customer satisfaction, costing $1,880 annually for comprehensive coverage.
- On average, New York drivers pay $2,634 yearly for full coverage and $1,615 for minimum coverage.
- Progressive offers the most affordable full coverage at an average of $1,198 per year.
Affordable Car Insurance in NY (New York):
In New York, the average annual premium for full coverage car insurance is $2,634, while the state minimum coverage costs $1,615 for drivers. On our list, Progressive had the most affordable average complete coverage; however, GEICO offered the most affordable minimum liability insurance. At an average of $3,093 and $1,736 for full and minimal coverage, respectively, Nationwide offered the highest annual rates.
| Provider | J.D. Power Customer Satisfaction Rating | Estimated Annual Full Coverage | Estimated Annual Minimum Liability Coverage |
|---|---|---|---|
| USAA | 880/1,000 | $1,900 per year | $945 per year |
| State Farm | 825/1,000 | $2,000 per year | $1,450 per year |
| GEICO | 820/1,000 | $1,650 per year | $940 per year |
| Allstate | 818/1,000 | $2,450 per year | $1,430 per year |
| Progressive | 817/1,000 | $1,210 per year | $1,060 per year |
| Nationwide | 798/1,000 | $3,150 per year | $1,770 per year |
USAA: Highest customer satisfaction
Although USAA has the best customer satisfaction car insurance rating in New York, it is not the most reasonably priced insurance company in the state. Although eligibility for an insurance is limited to active and retired military personnel and their families, USAA provides a reasonable balance of standard coverage and discounts for those who meet the requirements.
State Farm: Best for new drivers
At $1,994 annually, State Farm offered average full coverage insurance at a very high premium for car insurance. It did, however, receive the second-highest customer satisfaction rating in New York and provides new drivers with a discount of up to 25%.
GEICO: Best for high-risk drivers
New York’s high-risk drivers pay $3,280 on average per year for car insurance. Since GEICO may provide better rates to high-risk drivers, it might be a smart choice for people with DUIs or who were at-fault in accidents. Although it received mediocre customer service ratings, it also had the lowest minimum coverage in New York.
Allstate: Best for new cars
In New York, Allstate is typically a more costly choice; comprehensive coverage costs an average of $2,405 per year for car insurance. On the other hand, individuals who recently bought or leased a new car might find it worthwhile. When buying for your new automobile, Allstate’s gap coverage can help you avoid a financial disaster in the event that it is stolen or involved in an accident.
Progressive: Most affordable coverage
In New York, Progressive offers full coverage car insurance at the lowest possible price. Compared to the state average of $2,634, customers pay an average of $1,198 year for complete coverage of car insurance. The third-cheapest minimal coverage on our list, it cost $1,051 on average a year. On our ranking of the top car insurers, Progressive had the second-lowest customer satisfaction rating, nevertheless.
New York car insurance requirements
Similar to other states around the United States, drivers in New York must possess minimum levels of insurance in order to drive lawfully:
- $10,000 in property damage for one accident.
- $50,000 for a person’s death and $25,000 for physical harm sustained in an accident.
- $100,000 for the death of two or more persons in an accident, and $50,000 for physical harm.
DON’T MISS: Save Money with These 6 Essential Tips for Leasing Car Insurance
How to pick a company in New York for car insurance
It could require some effort to locate fairly priced car insurance in New York. When searching for a new insurance company, take into account the following:
- Compare the quotes: To make sure that the policy amounts, coverage options, and discounts are the same or comparable, compare quotes from several firms.
- Examine the business: Use a website like Standard & Poor’s or AM Best to investigate the financial viability of the carrier before beginning an insurance coverage. To make sure a business is licensed in New York, it’s a good idea to verify with the National Association of Insurance Commissioners (NAIC) or the New York State Department of Financial Services.
- Examine the reviews: To find out what previous customers have to say, check reviews on websites such as the Better Business Bureau or ask family and friends.
What is the cost of car insurance in New York?
In New York, the average annual premium for full coverage car insurance is $2,634, whereas the national average is $1,582. In New York, minimum coverage runs about $1,615 a year on average.
Drivers in Rochester pay the least, on average $1,566 annually, for complete coverage, while those in the Big Apple are likely to pay the highest, an average of $3,430 annually.
FAQs on car insurance costs in New York
What is the minimum car insurance I need in New York?
In New York, drivers must have at least $10,000 for property damage in one accident. For bodily injury, it’s $25,000 ($50,000 for death) for one person and $50,000 ($100,000 for death) for two or more people in an accident.
Which insurance companies cover New York?
Many well-known car insurance companies cover New York, including USAA, Progressive, State Farm, Allstate, Nationwide, and GEICO.
What’s the cheapest car insurance in New York?
For full coverage, Progressive is the most affordable, costing around $1,198 per year. If you’re looking for minimum coverage, GEICO is the cheapest option at $930 annually.
1 thought on “Your Guide to the Affordable Car Insurance In NY (New York) for 2024”