Best Car Insurance in New York: Top Companies in 2024 (2024)

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To determine the best providers in any state, our team evaluates providers based on several factors:

• Each provider’s average cost in the state: The average cost of car insurance in New York is $2,221 per year for minimum liability and $4,112 per year for full coverage, which is significantly higher than the national average of $869 per year for minimum liability and $2,681 for full coverage.
• Our April 2024 car insurance satisfaction study: In this study, we polled nearly 2,000 drivers about their experiences with coverage, cost and claims from different providers. The overall average satisfaction score was 4.2/5.
• AM Best financial strength ratings: We use ratings from AM Best as an indicator of a company’s ability to pay out insurance claims.
• Average Car Insurance Rates: We use rate information received from Quadrant Information Services to determine the cheapest car insurance companies in each state and weigh these rates against each company’s performance in our industry-wide provider review.
• Scores from the J.D. Power 2024 U.S. Auto Insurance Study^℠: This J.D. Power study polls insurance customers across multiple regions and ranks insurance companies based on customer feedback. In New York, the average customer satisfaction score in this study is 647 out of 1,000 points. Small insurance companies are not included in this study.

• NAIC complaint index scores: The National Association of Insurance Commissioners (NAIC) examines insurance company complaints and weights them against each company’s market share to determine a complaint index score. The average complaint index score is 1.0.

If you start shopping for coverage with a few key things in mind, finding the best car insurance in New York shouldn’t be too hard. Here are a few tips for finding the best rates in New York.

Consider New York State Minimum Requirements

Before you start looking for car coverage, know the state minimum car insurance requirements. The minimum liability coverage required by the state of New York is:

• Bodily injury liability: $25,000 per person and $50,000 per accident (not resulting in death), $50,000 per person and $100,000 per accident (resulting in death)
• Property damage liability: $10,000 per accident
• Uninsured motorist coverage: $25,000 per person and $50,000 per accident
• Personal injury protection (PIP insurance): $50,000 per person

New York is a no-fault state, which means your insurance company will pay your medical bills and cover lost wages regardless of who’s at fault for an accident.

Decide What Coverage You Need

There are certain things you should consider before getting car insurance quotes and purchasing coverage from an insurance agent. Where you live and who you’re insuring will play big roles in determining what types of coverage you get and how much of each you’ll need.

For example, if you live in an area of New York that gets blizzards each winter, consider buying comprehensive coverage to protect your car from potential weather-related damage. Comprehensive insurance also protects drivers who live in cities with high rates of auto theft.Teen drivers are more likely to get into car accidents, so if you want to insure your teen driver’s car, PIP insurance will take care of any injuries that happen. Collision insurance will cover damages to your teen’s vehicle.

Know Your Lender’s Requirements

Lenders and lessors often require more car insurance coverage than the state of New York does. If you’re financing or leasing your vehicle, you may have to purchase a full-coverage policy.

Based on data from Quadrant Information Services, the average cost of a full-coverage auto insurance policy in New York is $343 per month or $4,112 per year. This is about 57% more expensive than the national average of $2,681 per year. These averages are for a 35-year-old driver with a good credit score and a clean driving record.

New York Car Insurance Costs by City

Car insurance costs vary throughout New York state. Here’s a list of average rates for full-coverage policies for a 35-year-old driver in different New York cities.

Car Insurance Discounts in New York

When you’re looking for the best cheap car insurance, ask insurers about available discounts. Here are some of the most common car insurance discounts in New York.

Good Student Discounts

Most major car insurance companies offer savings of at least 10% to students who maintain a B grade average or above. Since car insurance premiums are often highest for young drivers, find out whether you or your teen driver qualifies for this discount.

Anti-Theft Discounts

To encourage drivers to take as many safety precautions as possible, many providers offer price breaks to car owners who install anti-theft devices like car alarms and glass-break sensors.

Automatic Payment Discounts

Large insurance companies often have millions of policies. Printing materials and bills for each policy adds up, so many providers have started offering discounts to customers who choose to go paperless and set up automatic payments online.

Bundling Discounts

Living in NYC and other places in the Empire State can be expensive. If you own a home, rent or have other coverages in the state, consider bundling your policies with the same provider. You can bundle homeowner’s insurance, car insurance or renter’s insurance and pay just one premium, often with a discount.

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

• Coverage (30% of total score): Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
• Cost and Discounts (25% of total score): Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities are both taken into consideration.
• Industry Standing (20% of total score): Our research team considers market share, ratings from industry experts and years in business when giving this score.
• Customer Experience (15% of total score): This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also consider the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.
• Availability (10% of total score): Auto insurance companies with greater state availability and few eligibility requirements score highest in this category.

Our credentials:

• 800 hours researched
• 130+ companies reviewed
• 8,500+ consumers surveyed

*Data accurate at time of publication.