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Average cost of car insurance in New York for 2024

Updated Nov 13, 2024
In the state of New York, the average cost of car insurance is $3,846 per year for full coverage and $1,644 for year for minimum coverage.
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How much is car insurance in New York?

New York drivers pay a whopping 56 percent more for their car insurance than the average American driver. Bankrate used Quadrant Information Service data to find New York drivers pay an average of $3,846 per year for full coverage and $1,644 for a minimum policy. The average full insurance policy in the U.S. is $2,458 for full coverage and $678 for minimum coverage. As one of the most populated states, New York drivers are more likely to be involved in accidents and put in claims. To learn more, Bankrate’s insurance editorial team took a deeper look at car insurance in the Empire State.

Key takeaways

  • The average cost of car insurance in New York per month is $137 for minimum coverage, while full coverage costs an average of $321 a month.
  • Drivers in New York who purchase full coverage pay an average rate that is 56 percent more than the national average.
  • Eighteen-year-old drivers on their own insurance policy pay the highest average insurance rates of all the driver profiles we analyzed.
  • New York drivers with poor credit-based insurance scores pay an average of 100 percent more for full coverage than a driver with a good credit-based insurance score.
  • Drivers who have vehicles that are higher in value and cost more to repair typically pay higher-than-average rates.

New York car insurance rates by city

When looking at the average car insurance cost in New York, it's important to note that the average may vary depending on where you live in the state. If you are in one of New York's high-density urban areas, you may pay more for your coverage than those in more rural areas. This is due to the increased risk of accidents and other vehicle mishaps in areas with dense traffic patterns. Here are average rates for some of the state's cities and towns:

City Avg. monthly full coverage premium Avg. annual full coverage premium Avg. savings vs. state average

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Advertising disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Average car insurance costs by age and gender in New York 

Your age influences how much you pay for car insurance in New York. Younger drivers have less experience behind the wheel and a higher likelihood of accidents, so they tend to pay significantly higher rates for car insurance. As you can see below, 18-year-old male drivers on their own policy in New York pay average full coverage rates 145 percent more than the state average.

Gender is another factor that can affect the cost of your car insurance. Statistics show that male drivers are more likely to engage in risky driving behavior, such as speeding. In some states, insurance companies use this information to justify charging a higher rate for male drivers. Not all states allow gender as a rating factor, but New York does.

Age 16*
Avg. monthly full coverage premium in New York
$623
Avg. annual full coverage premium in New York
$7,477
Age 18
Avg. monthly full coverage premium in New York
$773
Avg. annual full coverage premium in New York
$9,280
Age 20
Avg. monthly full coverage premium in New York
$611
Avg. annual full coverage premium in New York
$7,337
Age 25
Avg. monthly full coverage premium in New York
$369
Avg. annual full coverage premium in New York
$4,425
Age 30
Avg. monthly full coverage premium in New York
$334
Avg. annual full coverage premium in New York
$4,006
Age 40
Avg. monthly full coverage premium in New York
$316
Avg. annual full coverage premium in New York
$3,793
Age 50
Avg. monthly full coverage premium in New York
$296
Avg. annual full coverage premium in New York
$3,557
Age 60
Avg. monthly full coverage premium in New York
$291
Avg. annual full coverage premium in New York
$3,496
Age 70
Avg. monthly full coverage premium in New York
$323
Avg. annual full coverage premium in New York
$3,874
Age 40
Avg. monthly full coverage premium in New York
$316
Avg. annual full coverage premium in New York
$3,793
Age 50
Avg. monthly full coverage premium in New York
$296
Avg. annual full coverage premium in New York
$3,557
Age 60
Avg. monthly full coverage premium in New York
$291
Avg. annual full coverage premium in New York
$3,496
Age 70
Avg. monthly full coverage premium in New York
$323
Avg. annual full coverage premium in New York
$3,874
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Age 16*
Avg. monthly full coverage premium in New York
$597
Avg. annual full coverage premium in New York
$7,165
Age 18
Avg. monthly full coverage premium in New York
$759
Avg. annual full coverage premium in New York
$9,112
Age 20
Avg. monthly full coverage premium in New York
$562
Avg. annual full coverage premium in New York
$6,740
Age 25
Avg. monthly full coverage premium in New York
$374
Avg. annual full coverage premium in New York
$4,489
Age 30
Avg. monthly full coverage premium in New York
$340
Avg. annual full coverage premium in New York
$4,074
Age 40
Avg. monthly full coverage premium in New York
$325
Avg. annual full coverage premium in New York
$3,900
Age 50
Avg. monthly full coverage premium in New York
$286
Avg. annual full coverage premium in New York
$3,434
Age 60
Avg. monthly full coverage premium in New York
$291
Avg. annual full coverage premium in New York
$3,494
Age 70
Avg. monthly full coverage premium in New York
$317
Avg. annual full coverage premium in New York
$3,805
Age 40
Avg. monthly full coverage premium in New York
$325
Avg. annual full coverage premium in New York
$3,900
Age 50
Avg. monthly full coverage premium in New York
$286
Avg. annual full coverage premium in New York
$3,434
Age 60
Avg. monthly full coverage premium in New York
$291
Avg. annual full coverage premium in New York
$3,494
Age 70
Avg. monthly full coverage premium in New York
$317
Avg. annual full coverage premium in New York
$3,805
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
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Bankrate’s take: Your age and gender play a role in your New York car insurance rate because of statistical risk differences among different ages and genders. Younger drivers and male drivers are statistically more likely to get into accidents and engage in risky driving behavior like speeding and driving under the influence. As a result, most carriers charge higher rates for young drivers and slightly higher rates for male drivers to compensate for this added risk.

Cost considerations for young drivers in New York

Young drivers may be able to save on premiums by remaining insured on their parents' policy. The table below shows the premium difference for drivers aged 20 and younger who join their parents' existing policy compared to those who purchase their own policy.

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Age 16*
Avg. annual premium for drivers in NY
$7,321
Age 17
Avg. annual premium for drivers in NY
$7,071
Age 18
Avg. annual premium for drivers in NY
$6,674
Age 19
Avg. annual premium for drivers in NY
$5,801
Age 20
Avg. annual premium for drivers in NY
$5,526
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Age 18
Avg. annual premium for drivers in NY
$9,196
Age 19
Avg. annual premium for drivers in NY
$7,708
Age 20
Avg. annual premium for drivers in NY
$7,038
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Age Avg. annual premium difference for drivers on their own policy
Age 18 38 percent more
Age 19 33 percent more
Age 20 27 percent more

*18- and 20-year-old are renters on their own policies with no discounts applied

How does driving record impact the cost of car insurance in New York?

Blemishes on your driving record, such as speeding tickets, at-fault accidents and DWIs (driving while intoxicated), may all have a direct impact on how much more you pay for auto insurance. Some insurance companies may even deny coverage to drivers with high-risk incidents on their record, like a DUI, or those who have been caught driving without insurance, which is illegal in the state. The following table breaks down the average premium costs a New York driver with various moving violations may pay and the percentage increase from average full coverage premiums.

Clean driving record
Avg. annual premium* in New York
$3,846
Percentage increase from New York avg. annual premium*
0%
Avg. annual premium* in New York
$4,079
Percentage increase from New York avg. annual premium*
6%
Avg. annual premium* in New York
$4,059
Percentage increase from New York avg. annual premium*
6%
Avg. annual premium* in New York
$5,949
Percentage increase from New York avg. annual premium*
55%
*The rates reflected are for full coverage policies.

Car insurance rates in New York by credit tier

Another factor that impacts the rate you pay for your policy is your credit score. Not all states allow insurers to consider this factor, but New York does. If you have excellent credit, insurers know you have a demonstrated ability to pay your bills in full and on time, and thus they are more likely to give you a favorable rate. Drivers with a poor credit rating, meanwhile, may struggle to pay their premiums, and thus they are likely to pay more to compensate for the risk to the insurer.

Avg. annual premium* in New York
$7,702
Percentage difference from New York avg. annual premium*
100%
Average
Avg. annual premium* in New York
$4,299
Percentage difference from New York avg. annual premium*
12%
Avg. annual premium* in New York
$3,846
Percentage difference from New York avg. annual premium*
0%
Excellent
Avg. annual premium* in New York
$3,070
Percentage difference from New York avg. annual premium*
-20%
*Rates reflect full coverage policies.

New York car insurance rates by vehicle type

If you drive a high-end luxury vehicle or one with pricey imported parts, you may find yourself paying more for your insurance than someone who drives a more standard, domestic-made car. Insurers here are considering the relative costs of repairing your vehicle after an accident. The more repairs are likely to cost, the higher your premium may be.

Avg. annual premium* in New York
$3,846
Avg. annual premium* in New York
$3,508
Avg. annual premium* in New York
$3,381
BMW 330i
Avg. annual premium* in New York
$4,412
Toyota Prius
Avg. annual premium* in New York
$3,941
*Rates reflect full coverage policies.

Estimate your car insurance cost in New York

Buying car insurance can be complicated, so Bankrate created this calculator tool to help you get started. By inputting a few key numbers, it will produce a rough estimate of what you are likely to pay for your policy. Since rates vary from company to company, it may not be exact, but it will give you a good ballpark figure to start your search with.

Calculate your monthly car insurance payment

Get a quick estimate to make sure you're not overpaying.

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How to save on car insurance in New York

While New York may be one of the most expensive states for auto insurance, drivers may be able to save on their premiums with some strategic planning. These tips and tricks may help bring down your insurance rate:

  • Shop around: Most insurance professionals recommend comparing quotes from different providers to see who may offer the cheapest rates for your specific insurance needs. 
  • Discounts: Most carriers offer at least a handful of discounts to help policyholders save money. Common discounts include good student, bundling and safe driver. 
  • Improve your credit score: Improving your credit score may help keep your premium low. 
  • Increase your deductible: Your deductible is the amount you are responsible for out of pocket in the event of a collision or comprehensive coverage claim. Raising your deductible may bring down your premium, but note that insurance professionals recommend keeping your deductible low enough that you could pay it comfortably in the event of a claim.

Frequently asked questions

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46
years of industry expertise
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122
carriers reviewed
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34.5K
ZIP codes examined
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1.2M
quotes analyzed

Methodology

Bankrate utilizes Quadrant Information Services to analyze November 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates for our base profile are based on the following characteristics and coverage levels:

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40 year old
Single male and female driver
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2022 Toyota Camry
Primary vehicle
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Good credit score
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Clean driving record
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Commutes 5 days

Bodily injury liability

$100,000 per person
$300,000 per accident

Property damage liability

$50,000 per accident

Personal injury protection

$100,000 per accident

Uninsured motorist bodily injury

$100,000 per person
$300,000 per accident

Collision deductible

$500

Comprehensive deductible

$500

Other profiles

These are sample rates and should only be used for comparative purposes.