Car insurance in New York costs, on average, about $168 per month, according to an analysis by financial education website MoneyGeek. This is higher than the nationwide average of around $85 per month for full-coverage auto insurance.
Of course, insurance costs are determined by a number of factors, including the insurance company used, the characteristics and driving records of insured individuals, and other factors, such as location. Let’s take a look at what you can expect when you shop for insurance in New York.
Average car insurance costs in New York by city
Because location is one of the factors used to determine car insurance rates, where you live in New York can make a difference in your auto insurance quotes. Whether you get full coverage or you only get the minimum coverage required by law also matters. Here are some of the average monthly full-coverage car insurance rates you can expect to pay in different cities in New York, according to the MoneyGeek analysis:
- Buffalo: $134.75.
- New York: $255.
- Rochester: $104.75.
- Syracuse: $113.
- Yonkers: $191.33.
This gives you an idea of what you might expect to see if you moved cities in New York. Or, if you’re trying to decide where to move in New York, looking at insurance rates could be one way to assess the potential costs.
Average car insurance costs in New York by age & gender
Other big factors in car insurance rates are age and gender. In general, you’ll find that younger and newer drivers will probably pay more for car insurance than those above the age of 25. Additionally, women are more likely to have lower rates than men.
For example, the average monthly premium for a 25-year-old male in New York is $125, while the premium for an 18-year-old male is $379. On the other hand, a 25-year-old female pays about $123 a month, while her 18-year-old counterpart pays an average of $302. The younger the driver, the greater the disparity in the difference between the cost of insuring a male vs. insuring a female.
The most expensive drivers to insure in New York are 16-year-old males. The individual average monthly premium is $550 for them. Compare that to a 16-year-old female, who is likely to have an average premium of $445—more than $100 per month less.
Average car insurance costs in New York by coverage
Different levels of coverage can also impact your rate. If you get liability-only coverage (the coverage required by law), you’ll likely pay less each month than if you have full coverage.
The average cost of liability-only coverage in New York—at the state minimum—is $94.25 per month, according to the MoneyGeek analysis. Compare that to full coverage car insurance in New York, which has an average cost of about $150 with the state minimum liability coverage and a deductible of $1,000.
As you increase your coverage amount and lower your deductible, you can expect the average cost of car insurance in New York to head higher. For example, if you get 300/500/300 liability and full coverage, with a $500 deductible, the average monthly cost is about $187.33.
Average car insurance costs in New York by driving record
Don’t forget that your driving record can greatly impact your insurance rates. If you have serious traffic violations or other issues, it can lead to a much higher insurance premium each month. Overall, the monthly average premiums for full coverage in New York based on driving record are:
- Clean record: $170.25.
- At-fault accident: $189.75.
- Speeding ticket: $197.75.
- DUI: $260.67.
The better your driving habits, the less likely you are to be stuck with a higher premium. If you accumulate too many poor marks on your record, or file too many claims, you might see your coverage canceled, or end up with a policy nonrenewal.
Average car insurance costs in New York by credit score
Credit scores also matter in New York. In fact, the Consumer Federation of America found that otherwise safe drivers can see higher car insurance premiums in New York if they have poor credit.
The MoneyGeek analysis also takes into account credit scores and found that it makes a huge difference. When trying to lower your monthly premium, you can also consider ways to improve your credit score. Here are the average monthly premiums paid by New York drivers, based on credit score. In general, credit scores that are considered excellent fall above 800, while those that are considered to be poor are below 579.
- Excellent: $131.67.
- Good: $164.
- Fair: $214.
- Below fair: $302.
- Poor: $487.42.
As you can see, all other factors equal, a poor credit score could cost you thousands of dollars per year as a New York driver.
What factors affect your car insurance rate in New York
As you shop around for car insurance in New York, it’s important to consider the factors that are likely to impact your rate. Here are some of the things that can influence your car insurance rate in New York state:
- Location: Where you live, and the potential for accidents, theft, vandalism and claims can influence your rate. If the insurer perceives that you live in an area with higher risk, it can result in a higher premium.
- Gender: Your gender influences how much a car insurance company will charge you for a monthly premium. It’s less important as you get older, but can still have an impact.
- Age: The less experienced you are as a driver, the more likely it is that you will be stuck with higher car insurance rates in New York. The good news is that your rate has the potential to drop as you age, as long as you’re a safe driver.
- Driving record: The more traffic violations and accidents you have, especially in a short period of time, the higher your car insurance rate will be. The biggest impact, though, is likely to be a DUI.
- Credit score: Some insurers look at your credit score and use that information to determine whether they think you might be a risky driver. If you have excellent credit, you might see a lower auto insurance premium in New York.
- Type of car: Certain cars cost more to insure than others, so choosing a safer car can potentially reduce your car insurance rate in New York.
How to lower your car insurance premium in New York
If you’re looking to lower your car insurance rates in New York, here are some things you can try:
- Compare quotes: Get car insurance quotes from three to five providers to improve your chances of finding the cheapest rate.
- Increase your deductible: If you’re willing to pay more out of pocket in the event of an accident, you’ll likely pay a lower monthly premium.
- Get liability-only: If you have an older car that isn’t worth much, getting the minimum liability coverage can save you a significant amount of money.
- Look for discounts: Finally, find out what discounts are available. This can include multi-line discounts, safe driving discounts and other ways to reduce your rate.
Cheapest car insurance companies in New York
The cheapest car insurance companies in New York depend on what you qualify for and the discounts you can get:
- Allstate.
- GEICO.
- Progressive.
- American Family.
- State Farm.
- Kemper
Note that these might not be the cheapest depending on your situation and you should still compare car insurance rates in New York.
Frequently asked questions (FAQs)
Why is car insurance so expensive in New York?
New York’s average car insurance premium is the highest in the nation, probably due to the urban driving environment and the number of claims.
How much is car insurance in NY monthly?
Your exact monthly premium in New York will depend on things like what city you live in and your driving record, but the overall average monthly car insurance cost is $168.
How much is the average car insurance in New York State?
How much you pay for car insurance in New York state depends on a number of factors. However, the overall average for full-coverage insurance is $2,016 per year.
This story was written by NJ Personal Finance, a partner of NJ.com. The information presented here is created independently from the NJ.com editorial staff, and purchases made through links in this article may result in NJ.com earning a commission.
