The average cost of a full coverage insurance policy in New York City is $4,822 per year. That's more than two times higher than the New York state average of $2,172. Rates are higher in NYC simply because of how many people live there, and the already-high cost of living. Repair costs can also be higher in the city than outside of it, driving up insurance costs.
The easiest way to save money on your car insurance is by comparing rates between top companies in the New York City area. Our experts here at Policygenius can help guide you to the coverage that works best for you.
Cheapest car insurance companies in New York City, NY
Car insurance rates are different for everyone. Personal details like the car you drive, the amount of coverage needed, and even whether you’re single or married impacts your rates.
To save money on car insurance, it’s always a good idea to compare quotes and pick the coverage that works best for your insurance needs.
Below are the cheapest car insurance rates by company in New York City.
Cheapest car insurance rates by ZIP code in New York City, NY
If you live in a neighborhood that has a higher crime rate, chances are you’re paying more for car insurance. ZIP codes are one of the biggest factors used to determine car insurance rates. The more crime and accidents in a given area, the more everyone pays.
Below are the average rates in ZIP codes across New York City.
Choosing the right car insurance company in New York City, NY
With so many factors that determine car insurance price, it can be overwhelming to find a company that offers affordable protection and won’t let you down when you need it the most.
You want a company with experience and customer service that listens to your needs. When it’s time to file a claim, you expect your insurance company to make the process as seamless as possible. At Policygenius, we can help you see quotes from top companies, so you can choose one that meets all your needs.
Car insurance rates for drivers with driving violations in New York City, NY
In NYC, a single ticket for racing could increase your rates by $1,800 over three years, and other violations, like a DUI or a hit-and-run, can increase your rates even more.
Below are the average car insurance rates for drivers in New York City with speeding tickets or other moving violations on their driving record.
Cheapest car insurance for drivers with bad credit in New York City, NY
A bad credit score can affect your life in many ways. Not only is it harder to get credit, but your car insurance raise can also go up because insurance companies use your credit score to determine what you pay for insurance.
Below are the cheapest rates in New York City for drivers with bad credit.
Buying car insurance in New York City, NY
The law in New York says drivers must have the following minimum liability insurance requirements:
$10,000 for property damage for a single accident
$25,000 for bodily injury and $50,000 for death for a person involved in an accident
$50,000 for bodily injury and $100,000 for death for two or more people in an accident
Have continuous coverage on a vehicle even if it is inoperable or not being driven.
The insurance must be issued by a company licensed by the New York State Department of Financial Services and certified by the NY State DMV.
The state of New York is a no-fault state, which means that your insurance provider must pay your medical bills after an accident whether you caused the wreck or not.
State minimum insurance requirements vary by state, but because they only offer basic protection, your vehicle might not be covered if you’re in an accident.
To better protect yourself and your property before an accident, it’s a good idea to add more coverage such as comprehensive or collision insurance to help defer out-of-pocket expenses.
How to get cheap car insurance in New York City, NY
New York City drivers pay some of the most expensive rates in the country, but there are ways to save:
Safe driver discount - A discount for drivers without moving violations or accidents on their driving record.
Bundling - Combining your car and home insurance policies is a great way to save money on your premiums.
Low mileage discount - NYC drivers pay higher rates, but their commutes are shorter.
Military discount - Typically, military service members and their family members can get a reduced rate on car insurance.
There are other discounts available, ask your insurance company which of them may apply to you.
Looking for home insurance? Find the best homeowners insurance in New York City
Methodology
Policygenius has analyzed car insurance rates provided by Quadrant Information Services for every ZIP code in all 50 states plus Washington, D.C. For full coverage policies, the following coverage limits were used:
Bodily injury liability: 50/100
Property damage liability: $50,000
Uninsured/underinsured motorist: 50/100
Comprehensive: $500 deductible
Collision: $500 deductible
In some cases, additional coverages were added where required by state or insurer.
Rates for overall average rate, rates by ZIP code, and cheapest companies determined using averages for single drivers ages 30, 35, and 45. Our sample vehicle was a 2017 Toyota Camry LE driven 10,000 miles/year.
Rates for driving violations and “Poor” credit determined using average rates for a single male 30-year-old driver with a credit score under 578.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
