How Much Is Car Insurance in New York? (2024) (2024)

Average Car Insurance Costs in New York

Average Car Insurance Costs in New York by Company

Car insurance premiums vary per company, even within the same state. For New York drivers seeking the cheapest full coverage, Kemper offers an annual average premium of $943, while Hanover’s average premium stands at a significantly higher $3,826.

Comparing car insurance quotes from different providers can lead to significant savings, ensuring you get the cheapest car insurance in New York.

Average Car Insurance Costs in New York by Coverage Level

In New York, the cost of car insurance is also dependent on the level of coverage selected. For minimum coverage, the monthly cost is around $103, while opting for full coverage, with a $1,000 deductible, the monthly expense escalates to approximately $183. It's advisable to choose a full coverage policy to ensure broader financial protection despite the higher cost.

While including comprehensive and collision coverage will increase premiums, selecting higher deductibles can offset some of that increase. The deductible is an amount that policyholders must pay out of pocket for each comprehensive and collision claim.

Average Car Insurance Costs in New York by City

Your car insurance premiums can vary greatly depending on where you live. In New York, the full coverage annual premium for the cheapest city, Rochester, is $1,257 compared to New York City's $3,060 for the same coverage.

Several factors influence car insurance rates in New York, such as driving history, age, vehicle model, credit score and the level of coverage chosen.

Average Car Insurance Costs in New York by Age

Age significantly influences car insurance rates in New York. Young drivers typically pay the most, with premiums decreasing as drivers mature, then slightly increasing again for seniors.

Younger drivers (ages 22 to 29) face higher car insurance costs due to their inexperience and higher risk of accidents. In New York, they pay an average of $2,602 annually. Adults (ages 30 to 59), considered more stable and experienced, tend to see lower rates, with an average annual premium of $2,201. For seniors (60+), premiums increase slightly to $2,256, reflecting the perceived increased risk with advancing age.

Average Car Insurance Costs in New York for New Cars

Average Car Insurance Costs in New York by Driving Record

The average cost of car insurance in New York varies depending on your driving record.

• With a ticket: $2,512 per year; $209 per month
• With an at-fault accident: $2,429 per year; $202 per month
• With a DWI: $3,430 per year; $286 per month

The more severe the driving violation, the more your car insurance premiums are likely to increase in New York. As long as the violation is on your record, it will continue to influence what you pay. The time a violation remains on your record can differ by state. For example, in New York, a DWI can stay on your driving record for up to 10 years, potentially impacting your insurance costs.

While a DWI offense is typically more costly than other violations, there are exceptions depending on the car insurance company and state. The table below shows the average insurance cost in New York for different driving records based on coverage and age group.

Average Car Insurance Costs in New York by Credit Score

New York drivers see a significant variation in car insurance costs depending on their credit score. With average annual premiums ranging from $1,580 for those with excellent credit to $5,849 for those with poor credit.

Your credit score can either raise or lower your car insurance rates in New York. Those with higher scores are often viewed as less risky and can access more affordable insurance options. Credit scores are generally categorized as poor (300 to 579), fair (580 to 669), good (670 to 739), very good (740 to 799), and excellent (800 to 850).

Factors Affecting Car Insurance Rates in New York

In New York, various factors can influence your car insurance rates, impacting the cost of your collision insurance and comprehensive insurance. Here's what you need to know.

• Driving Record: A clean driving history can lead to more affordable insurance rates, while traffic violations and accidents typically raise premiums.
• Age and Experience: Younger, less experienced drivers often face higher rates due to their increased risk of accidents.
• Credit Score: Insurers may use your credit score to gauge risk, affecting insurance costs. A higher score can equate to lower rates.
• Vehicle Type: Luxury and sports cars usually come with higher insurance costs versus economy or mid-range models.
• Location Within New York: Urban areas with higher traffic density and theft rates may experience higher insurance premiums.
• Annual Mileage: The more you drive, the more you're at risk for accidents, potentially leading to increased insurance costs.
• Coverage Level: Opting for more than the state minimum coverage will increase your premium but offers better protection.
• Discount Eligibility: Taking advantage of discounts like multi-car or safe driver can significantly lower your insurance rates.

Find details on what impacts the price of your policy, whether you're seeking the most affordable plan or need robust coverage that includes both collision insurance and comprehensive insurance.

How to Save Money on Car Insurance in New York

FAQ: Car Insurance Costs in New York