The best cheap car insurance in New York

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

  • New York is the fifth-most expensive state in the US for car insurance.
  • Within New York, State Farm is the highest-ranked company for customer satisfaction.
  • By shopping around, you can find the best deal for your own cheap auto insurance. 
  • Check out our partner Savvy — a free tool that lets you compare car insurance quotes in minutes  »

When you’re shopping for the best cheap car insurance in New York, there are a few factors you’ll want to consider. While the Insurance Information Institute estimates the typical New Yorker will spend $1,349 each year on car insurance premiums (the amount you pay yearly for insurance), there are ways to get better rates. 

Car insurance companies consider your location, age, gender, and driving record to calculate rates. Other factors like credit score, marital status, vehicle type, previous coverage, and miles driven can all play a role in the amount you’ll pay for coverage.

By shopping around, you can price compare and see what company has the best cheap auto insurance quotes for you. There’s no “one size fits all” approach to car insurance — everyone’s information and life situation is different, meaning that every insurance company will assess their risk, and price their premiums, differently.

Popular Articles

Average 401(k) balance

Here are the best cheap auto insurance companies in New York.

The most popular car insurance companies in New York based on market share

The following are the most popular car insurance companies in New York, based on the percentage of insured New York drivers who use them:

CompanyMarket share (%)
GEICO32.34
Allstate13.76
State Farm12.09
Progressive11.20
Liberty Mutual5.74
Travelers3.88
USAA*3.07
NYCM Insurance2.73
National General2.03
Nationwide1.89
MetLife1.42
The Heartford1.01
Farmers Insurance0.96
Erie Insurance0.87
Chubb0.77
American Family Insurance0.75

*USAA is only for active military, veterans, and their families.

Above data obtained from S&P Global Market Intelligence.

Best car insurance in New York based on customer satisfaction

Customer satisfaction with car insurance providers may factor into your decision. According to J.D. Power, a consumer research company that surveys customers, these are the top eight in New York, based on customer rankings:

  1. State Farm
  2. GEICO
  3. New York Central Mutual
  4. Region Average
  5. Travelers
  6. Allstate
  7. Liberty Mutual
  8. MetLife
  9. Nationwide
  10. Progressive

The best cheap car insurance in New York based on credit score

Consumer Reports compiled information on which companies generally provide the most affordable car insurance in each state, calculated based on each company’s pricing formulas for each state. There are four that generally came up as the best cheap car insurance companies in New York, although the top pick varies by credit score:

Excellent Credit (FICO 800+)Good Credit (FICO 670-739)Poor Credit (FICO 300-579)
  • USAA: $1,016 per year
  • GEICO: $1,016 per year
  • Progressive: $1,047
  • GEICO: $1,057 per year
  • USAA: $1,131 per year
  • Allstate: $1,340 per year
  • GEICO: $1,454 per year
  • Allstate: $1,489 per year
  • USAA: $2,541 per year

Best car insurance for clean driver record

For a driver in New York state age 25 or older with no accidents and one vehicle, the following companies provide the best average rates:

CompanyAverage monthly car insurance premium
USAA*$173
Allstate$182
Nationwide$190
GEICO$191
State Farm$193
Travelers$203
Safeco$216
Esurance$216
Progressive$227
Liberty Mutual$263
Farmers$278
MetLife$470

*USAA is only for active military, veterans, and their families.

Above data obtained from Savvy, based on 5,248 policyholders in the state of New York

Best car insurance for one or more accidents on record

For a driver in New York state, age 25 or older, with one or more accidents and one vehicle, the following companies provide the best average rates:

CompanyAverage monthly car insurance premium
State Farm$134
GEICO$202
Allstate$209
Progressive$222
Esurance$246
Farmers$329

Above data obtained from Savvy, based on 5,248 policyholders in the state of New York

New York car insurance rates by city

Below is the estimated average annual premium of auto insurance policies per household in New York’s most populous cities.

CityAverage annual car insurance premium
New York$1,454
Buffalo$1,299
Rochester$1,267
Yonkers$1,466
Syracuse$1,296
Albany$1,370
New Rochelle$1,568
Cheektowaga$1,410
Mount Vernon$1,438
Schenectady$1,318
Brentwood$1,596
Utica$1,317
White Plains$1,589
Hempstead$1,470
Tonawanda$1,457
Levittown$1,724
Troy$1,363
Irondequoit$1,456
Niagara Falls$1,308
West Seneca$1,487
Binghamton$1,287
Freeport Village$1,543
West Babylon$1,646
Hicksville$1,699
Coram$1,601
East Meadow$1,657
Valley Stream$1,686
Brighton$1,529
Commack$1,787
Central Islip$1,533
Spring Valley$1,402
Elmont$1,655
Long Beach$1,581
New City$1,766
Huntington Station$1,624
Rome$1,420
Oceanside$1,698
Poughkeepsie$1,355
Centerreach$1,704
Ithaca$1,295

The above data was obtained from S&P Global Market Intelligence.

Who gets the best car insurance rates in New York?

As you probably noticed above, people with the best credit get the lowest car insurance premiums. Generally, drivers in more rural areas will also get better rates — someone living in upstate New York will generally pay less than someone in New York City. 

But that’s just the tip of the iceberg when it comes to calculating insurance premiums. Insurance companies will also look at factors like your age, gender, and the type of car you’re insuring. Your driving history will also play a part in your insurance costs. 

Every insurance company looks at these factors differently. That’s why it’s so important to get quotes from several different insurance companies, and compare them to make sure that you’re getting the best deal. 

When you’re comparing, don’t just look at the premium. Look for the limits that are listed with each liability, or type of coverage. The greater the coverage amount, the better the policy. Look for the one with the most coverage that fits your budget.

Ronda Lee is an associate editor for insurance at Personal Finance Insider covering life, auto, homeowners, and renters insurance for consumers. She is also a licensed attorney who practiced litigation and insurance defense.

Personal Finance Insider offers tools and calculators to help you make smart decisions with your money. We do not give investment advice or encourage you to buy or sell stocks or other financial products. What you decide to do with your money is up to you. If you take action based on one of the recommendations listed in the calculator, we get a small share of the revenue from our commerce partners.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

Business Insider may receive a commission from Media Alpha when you click on auto insurance quotes, but our reporting and recommendations are always independent and objective.

Source: Read Full Article