Car insurance in New York City is more expensive than almost anywhere else in the United States: Drivers paid an average of $3,697 in annual premiums in August 2024, according to Bankrate, just about 60% more than the national average of $2,329.
But whether it’s in Buffalo or downtown Brooklyn, you can find insurance that fits your budget without sacrificing policy or visitor service.
CNBC Select chose auto insurance corporations in New York City, based on price, policy options, visitor service, and other factors. (See our method to learn more about how we choose auto insurance corporations in New York. )
The way to estimate your prices is to request a quote.
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Progressive offers lines of insurance to allow for bundling and convenient equipment to help you keep your policy within your budget.
Conditions apply.
Read our progressive insurance review.
For whom ? Progressive might be right for you if your driving record is rarely perfect—it had some of the lowest rates for high-risk drivers in New York among the corporations we reviewed, aside from those with injuries or DUIs. Progressive will also include an SR-22 certificate if your state requires it.
Exceptional benefits: The Accident Waiver Plan means that your fee may not accrue for claims under $500, and if you haven’t had a twist in five years, even a more serious twist of fate may not increase your premiums. promises car maintenance done through your spouse’s car department store for as long as you own or lease your car.
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The way to estimate your prices is to request a quote.
Yeah
Erie Insurance offers auto insurance for many other conditions and premiums. Several other coverages allow you to customize your policy.
Conditions apply.
For whom? Erie offers great senior rates, as well as a rate lock option to keep your premium from increasing year after year.
Great Benefits: The comprehensive insurance policy with Erie includes up to $350 for private parts and up to $500 for pets injured in a collision. The abatement deductible reduces out-of-pocket expenses during the year you have no accidents, and if you have a comprehensive policy, the window repair deductible may not apply to you.
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The way to estimate your prices is to request a quote.
Yes
NYCM offers liability for personal injury and property damage, as well as personal injury protection, which is required by New York State law. Add-ons come with an additional source of income replacement and three levels of roadside assistance.
Conditions apply.
For whom? New York Central Mutual boasts that drivers who get discounts can save up to 55% on their premiums.
Great benefits: Bundle NYCM’s auto and home insurance policies and you can get up to a combined reduction of up to 25% on your premiums. Amica also offers significant reductions for having anti-theft devices or for a child leaving their car when they become a colleague.
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The way to estimate your prices is to request a quote.
Yes
The Geico auto policy is available in all 50 states and the District of Columbia. It offers 16 discounts and a variety of optional add-ons, such as emergency roadside assistance, rental car reimbursement, and mechanical breakdown insurance.
Conditions apply.
Read our Geico insurance review.
For whom ? Geico offers rates for young drivers, so it’s a no-brainer if you’re a parent and have a child or student on your policy.
Big Advantages: Several Geico discounts get advantages for families, adding up to 15% discount for students with a B average or higher and up to 25% for families with more than one car.
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The way to estimate your prices is to request a quote.
Yeah
USAA auto insurance is available to military members, veterans, and their families in all 50 states and Washington D. C. In addition to low rates, the USAA offers discounts if you are deployed or purchase your vehicle at the base.
Conditions apply.
Read our USAA insurance review
Who is it for? Active military members, veterans, and members of their household can take advantage of USAA’s affordable rates and incredible visitor satisfaction.
Standout benefits: USAA’s perks target military families, including a discount for keeping your car on base or for not using it while deployed. With USAA’s nationwide availability, you won’t have to shop for a new provider if you’re relocated.
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Progressive combines costs with an easy-to-use online experience that allows you not to work with an agent. It’s one of our most sensible options when it comes to liability-only and high-risk driver insurance. Read our Progressive Auto Insurance Review
AM. Best Financial Strength Rating: A
J. D. Power Claims Study Satisfaction Score: 870, Below Average
Better Business Bureau: A
NAIC Complaint Rate: 0. 89, below average
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Erie has been offering auto insurance since 1925, and it’s a great option if you want to be treated like royalty: It ranked second in the J. D. Claims Satisfaction Study. Power in 2023 and took top spots in two regions overall. visitor service.
AM. Best Monetary Strength Rating: A
JD Power says it is satisfied with the study: 902, above average
Better Business Bureau: A
NAIC Complaint Rate: 0. 81, below average
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New York Central Mutual sells auto insurance in New York City, which means it focuses on the desires of local drivers. Additional policy features are limited, but NYCM scored top in visitor satisfaction in the 2024 J. D. Power Auto Insurance Study.
AM. Best Financial Strength Rating: A
JD Power Claims Satisfaction Study Score: n/a
Better Business Bureau: A
NAIC Complaint Rate: 0. 04, well below average
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Geico is a leader in insurance, combining some of the lowest rates in the market with discounts and nationwide availability. New York drivers can take advantage of the DriveEasy program, which monitors driving behavior and rewards safe drivers with lower rates. Read our Geico car insurance review.
AM. Best Monetary Strength Rating: A
J. D. Power claims a satisfaction score in the study: 871, below average
Better Business Bureau: A
NAIC Complaint Index: 0. 70, below average
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USAA has been providing auto insurance to active duty service members, veterans, and their immediate families since 1922. It offers exclusive benefits, adding discounts for parking on base or for not using your car on deployment. Customers can pay per month without incurring a penalty. Read our USAA auto insurance review.
AM. Best Monetary Strength Rating: A+
J. D. Power claims to have a satisfaction score: 900, above averageBetter Business Bureau: A
NAIC complaint rate: 1. 36, above average
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Vehicles registered in New York City must be covered by bodily injury and asset damage liability insurance, as well as an uninsured motorist policy. Additionally, New York is a no-fault state, so drivers will need to carry a physical injury policy (PIP) to pay for medical bills, lost wages, and other expenses, regardless of who is at fault.
If you want an additional policy that protects you, your passengers, and your vehicle, you want a comprehensive auto insurance policy, including a comprehensive policy and a collision policy. If you lease or finance your car, you’ll most likely want to have a comprehensive policy.
Whether you’re looking for a replacement policy or a new policy, take those steps to lower your premiums.
Insurance corporations offer a variety of discounts that can lower your rates: one of the most important is to bundle your car insurance with your home insurance policy from the same provider. You can also save up to 40% with a driving app: if you let your insurer track your driving behavior and you can be rewarded with a lower rate.
Many insurers qualify a payment to pay your premium month by month. By paying it upfront, you can save up to 12%, according to The Zebra auto insurance comparison.
If you work remotely or don’t drive frequently, a mileage-consistent payment policy can save you up to 40% compared to classic insurance. Drivers are charged a flat daily rate plus a mileage surcharge of just a few cents per mile. Nationwide SmartMiles is available in 44 states and only charges you for the 250 miles you drive in a day.
In New York, your credit history affects the value you pay for car insurance. You can increase your credits by making on-time bills on your car, keeping old accounts open, and restricting the number of new credit programs you complete.
Your deductible is the amount needed before your insurance company will cover anything. Generally, the higher the deductible, the lower your premium will be.
According to the Insurance Information Institute, extending your deductible from $200 to $500 can reduce the charge on a comprehensive and collision policy by up to 30%. Increasing it to $1,000 can save you 40% or more.
If you follow this strategy, make sure you have the budget to deal with the new higher deductible.
New York State requires at least $25,000 in personal injury liability per user and $50,000 per accident, plus $10,000 in property damage liability. Drivers must also have $25,000 in uninsured motorist policy per user, $50,000 per accident, and $50,000 in physical injury policy.
New York drivers pay 59% more than the national average for a full year of coverage. In August 2024, premiums averaged $3,697 in New York, according to Bankrate, compared to $2,329 across the United States. Liability insurance alone is even more expensive: It averaged $1,544 in New York, up 144% from the national average of $633.
According to our research, Progressive had the cheapest average car insurance rates in New York City. Your individual premiums will depend on a number of factors, including your driving history, car, credit, gender and age.
At CNBC Select, our goal is to provide our readers with high-quality journalism and comprehensive customer recommendations so they can make informed decisions with their money. Each insurance review is based on rigorous reports written by our team of trained and knowledgeable writers. of insurance products. To study the most productive insurance companies, we collected more than a hundred knowledge questions about more than a dozen insurance companies. While CNBC Select gets a commitment from our partner partners on many offers and links, we create all of our content. without input from our sales team or external third parties, and we pride ourselves on our journalistic criteria and ethics. Check out our method to learn more about how we choose the most productive insurance companies.
For the most productive insurance companies, CNBC Select analyzed dozens of insurance companies and compared them based on a variety of factors.
When choosing the most productive auto insurance companies in New York, we focused on an example premium for a 40-year-old driver with a clean driving record and smart credit insuring a 2020 Toyota Camry, who travels five days a week and drives 12,000 miles per year. We look at Bankrate full coverage auto insurance premiums with the following limits:
We then looked at policy features, ease of use, and visitor satisfaction data from the National Association of Insurance Commissioners, the Better Business Bureau, and J. D. Power and A. M. Best, which measures how likely a business is to pay its claims.
We also look at CNBC Select’s audience insights when available, such as general demographics and engagement with our content and tools.
From there, we have followed our recommendations in order of reduction, for drivers with injuries or at-fault driving, for seniors, for families with young drivers, and for military families.
Advertised premiums and policy structures for New York auto insurance may vary depending on corporate policies.
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