Cheap Car Insurance in New York, NY, Starting at $304 (2024)

Whether you’re a longtime resident or just moved to the Big Apple, buying car insurance in New York City can involve some sticker shock. As one of the world’s most heavily populated cities, its risk of car accidents is high. Insurers recognize this and charge higher premiums to account for the increased risk.

Car insurance in New York City averages $378 per month for full coverage and $339 for minimum coverage. That's higher than both the averages for New York state and national averages.

New York state has the highest car insurance costs in the country, and New York City is one of the most expensive cities in the state for auto coverage, according to Insurify data. New Yorkers looking to save on car insurance should start by comparing multiple quotes to find the most affordable coverage available to them.

Best car insurance companies in New York City

Safeco, Travelers, and Nationwide are some of the best insurance companies in New York City, and each provides unique benefits. Travelers is one of the cheapest insurers, Safeco offers perks for new-car owners, and Nationwide is great for bundling discounts. However, the best insurer for you may not be on this list. Always compare quotes from multiple companies before buying a policy.

Best insurer for cheap rates: CSAA

Best insurer for discounts: Safeco

Best insurer for low-mileage drivers: Nationwide

How to get the cheapest car insurance in New York City

Car insurance companies base their rates on several factors, including your age, the year, make, and model of your vehicle, your credit score, and your location.

You might have little control over some of these factors, but the following strategies can help you keep your auto insurance costs low:

• Select a higher deductible. Opting for a higher deductible for your comprehensive and collision coverage means you agree to pay more out of pocket when you have a claim, but it’ll decrease your premium.

• Bundle insurance policies. Many insurance companies offer discounts for policyholders who buy two or more policies. You may qualify for a discount if you bundle your auto policy with a homeowners or renters policy, life insurance, umbrella, or other policies.

• Take advantage of other discounts. Many auto insurance companies offer discounts to drivers who install anti-theft devices or maintain good credit or a clean driving record. Ask your agent about any available discounts you’re eligible for.

• Compare quotes. Rates vary from company to company, so shopping your policy with several different insurance companies is a good way to find the best rate.

Cheapest liability-only car insurance in New York City: CSAA

Liability-only car insurance is a kind of policy that only covers damages or injuries that you cause to other people in an accident. It doesn’t cover damages to your own car or personal injuries in case of an accident.^[2]

The table below outlines the best options for drivers in New York City seeking the most affordable liability-only coverage.

Cheapest full-coverage car insurance in New York City: CSAA

Full-coverage auto insurance includes liability insurance and also covers damage to your own vehicle and injuries you and your passengers sustain through collision and comprehensive coverage.

The table below shows the insurance companies offering the cheapest full-coverage auto insurance in New York City.

Car insurance requirements in New York

You must show proof of car insurance to register a vehicle in New York State and maintain that coverage to prevent your registration from being suspended.^[3]

The table below shows the minimum coverage levels required by law in the Empire State:

You may want to consider increasing your coverage beyond the minimum limits required by the state and adding one or more of the following optional coverages:

• 

  Collision coverage

  Collision coverage reimburses you for damage to your own vehicle due to a collision with another vehicle or object.

• 

  Comprehensive coverage

  Comprehensive insurance reimburses you for theft or damage to your car due to events other than a collision, such as theft, vandalism, or hail.

• 

  Medical payments coverage

  This coverage provides reimbursem*nt for medical expenses for injuries to you or your passengers involved in an accident.

  See Also

  Best Car Insurance in New York for 2024 | Bankrate

• 

  Uninsured/underinsured motorist coverage

  These coverages protect you if a driver hits you without enough insurance to cover your bodily injury or property damage.

• 

  Gap coverage

  This pays the difference between the fair market value of your vehicle and what you owe on your auto loan if it’s stolen or totaled in an accident.^[4]

Cheapest car insurance for New York City drivers with an incident

In car insurance, an incident is an event that can affect the cost of your car insurance, such as a speeding ticket, driving under the influence (DUI), at-fault accident, or other moving violations. Insurance companies tend to increase your rates if you have an incident on your driving record because they indicate that you’re a more risky driver.

Cheapest car insurance for drivers with a speeding ticket: CSAA

Even one speeding ticket can increase your car insurance rates. Speeding through congested streets is especially dangerous, and the Big Apple's average car insurance rates for people with speeding tickets reflects this. On average, a speeding ticket pushes car insurance rates in New York to $410 per month for full coverage and $367 for minimum coverage, Insurify data shows.

Still, several companies in New York offer competitive rates for drivers with a speeding ticket on their record. The following table lists a few insurance companies and their average monthly liability-only quotes for drivers who've received a speeding ticket.

Cheapest car insurance for drivers with an at-fault accident: CSAA

Finding affordable car insurance after an at-fault accident can be difficult, but it’s not impossible. While many insurers will increase your rates, some still offer accident forgiveness and affordable rates.

New York City drivers with at-fault accidents on their driving records see average car insurance rates of $428 per month for full coverage and $384 for liability only. The table below shows the cheapest liability insurance for New York drivers who have been involved in an at-fault accident.

Cheapest car insurance for drivers with a DUI: CSAA

Finding affordable car insurance after a DUI is especially challenging because many insurance companies refuse to insure drivers who have been convicted of a DUI. And those that do offer coverage typically charge you higher rates.

You may also need to get an SR-22 certificate. This is a form from your insurance company proving you have the minimum required insurance coverage.^[5]

A DUI pushes the average monthly cost of car insurance in New York City to $504 for full coverage and $452 for liability. The table below shows the cheapest car insurance for New York City drivers with DUIs on their driving records.

Cheapest car insurance for seniors in New York City

Experienced drivers tend to be safer on the road, so insurance companies often decrease rates for drivers once they reach age 35. However, they tend to increase rates again around age 70.

Drivers 70 and older are involved in more fatal crashes per mile traveled than middle-aged drivers, according to the Insurance Institute for Highway Safety (IIHS). Insurance companies increase rates to account for the added risk.^[6]

The average monthly cost of car insurance for senior drivers in New York City is $309 for full coverage and $277 for minimum coverage. The following table lists the companies with the lowest average monthly car insurance premiums for senior drivers in New York City.

Cheapest car insurance for teens in New York City

Auto insurance rates for teen drivers are typically much higher than those for adults. Young drivers have little driving experience and are prone to taking more risks, putting them at a higher risk of being involved in an accident.

Some ways to save on the cost of coverage include staying on your parents’ insurance policy and taking advantage of discounts, such as those for being a good student and taking a defensive driving course.^[7]

Teen drivers in New York face average car insurance rates of $680 per month for full coverage and $610 for liability-only policies. The table below shows companies offering the lowest monthly prices on auto insurance for teen drivers in New York City.

New York City car insurance quotes by credit tier

New York State allows insurers to consider your credit score when underwriting auto insurance policies. Credit scores can significantly affect car insurance rates, as insurance companies use them to evaluate risk. Drivers with excellent or good credit scores generally pay lower rates than drivers with poor credit.^[8]

The chart below shows the average New York City car insurance premiums by credit tier to help you better understand how your credit score could affect your rate.

Is car insurance more expensive in New York City?

Car insurance is more expensive in New York City than the national average and many other cities in New York State. Part of the reason for the higher rates is due to the population density in the city. Areas with higher populations tend to have more cars on the road, meaning drivers are more likely to be involved in an accident.

Urban areas also tend to be more expensive for car insurance because they have higher crime rates. Insurance companies increase rates in places where your car is more likely to be vandalized or stolen.

More cities in New York

The table below shows the average monthly rates for car insurance in other cities in New York.

New York City car insurance FAQs

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

• Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
• Property damage limits between $10,000 and $50,000
• No additional coverage

Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:

• Comprehensive coverage with a $1,000 deductible
• Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

1. New York State. "DATA.NY.GOV."
2. Insurance Information Institute. "Auto insurance basics—understanding your coverage."
3. New York State Department of Motor Vehicles. "New York State Insurance Requirements."
4. Insurance Information Institute. "What is auto insurance?."
5. Kelley Blue Book. "SR-22 Insurance: What is it and How Does it Work?."
6. Insurance Institute for Highway Safety. "Older drivers."
7. Insurance Information Institute. "Auto insurance for teen drivers."
8. New York State Department of Financial Services. "Applying for Auto Insurance."

Janet Berry-Johnson, CPA is a freelance writer with a background in accounting and income tax planning and preparation. She's passionate about making complicated financial topics accessible to readers. She lives in Omaha, Nebraska with her husband and son and their rescue dog, Dexter. Visit her website at www.jberryjohnson.com.