Cheapest car insurance in New York for 2024

The cheapest car insurance companies in New York

New York drivers tend to pay more than drivers in other states for auto insurance. Nationwide, car insurance costs an average of $678 for minimum coverage and $2,458 for full coverage. In the Empire State, however, the minimum average premium is more than double the national average at $1,644 per year, while full coverage averages $3,846. To help drivers save money, Bankrate's insurance editorial team, which includes licensed agents, did the legwork to figure out which insurers are offering some of the cheapest car insurance in New York.

Key takeaways

• Cheapest company for minimum coverage: Utica National
• Cheapest company for full coverage: Progressive
• Cheapest company for drivers with prior incidents: Utica National
• Cheapest company for young drivers: Utica National

Like most states, New York requires drivers to carry a minimum amount of liability insurance to drive legally. On top of liability coverage, the state also requires uninsured motorist coverage and — because it is a no-fault state — personal injury protection. Purchasing minimum coverage is generally the cheapest option when buying insurance, but this is because it offers the least amount of financial protection.

In New York, the average annual cost of minimum coverage is $1,644.  By assessing average rates from Quadrant Information Services, Bankrate found several carriers offering average coverage that is lower than the state average.

Minimum coverage requirements for New York drivers

Per New York law, your car insurance policy must have at least the following coverage types and limits:

• $25,000 bodily injury liability and $50,000 death for one person
• $50,000 bodily injury liability and $100,000 death for two or more people
• $10,000 property damage liability per accident
• $50,000 personal injury protection (PIP)
• $25,000 statutory uninsured motorist bodily injury liability per person
• $50,000 statutory uninsured motorist bodily injury liability per accident

According to the Insurance Information Institute (Triple-I), 10.8 percent of New York drivers are on the road illegally with no insurance coverage. Drivers in New York have two options for uninsured motorist coverage: statutory and supplemental. Statutory coverage only applies to accidents that happen within state limits. Supplemental coverage is available at minimum limits or higher limits and provides coverage outside of the state. Supplemental uninsured motorist coverage also includes underinsured motorist coverage.

In August 2023, a new state law went into effect requiring minimum coverage requirements to include spousal liability coverage for all drivers — even single ones. Drivers who do not wish to have this coverage may opt out of it in writing.

Electing to purchase the minimum required coverage is one way to get cheap car insurance in NY, but some drivers may not have the option to do so. If you have a loan or lease on your vehicle, your financial institution may require you to carry higher coverage limits than what your state legally mandates.

Even if you don't have a loan or lease, you may want to consider purchasing higher levels of coverage than required. In a serious accident, damage or injuries could be extensive, and minimum levels of insurance may not cover you adequately. Any costs that your insurance doesn't cover would need to be made up out-of-pocket.

Full coverage policies typically consist of the state's minimum requirements, plus collision and comprehensive coverage. These insurance types provide more robust financial protection in the event of an accident or another vehicle mishap like theft, vandalism and weather-related damage. The average annual cost of full coverage in New York is $3,846. Below, Bankrate identified a handful of insurers offering competitive average rates for full coverage in NY.

Generally, drivers with clean driving records pay the lowest average premiums for their policies. However, if you have a past infraction on your record, it may be possible to find affordable coverage by shopping around. Requesting quotes from several companies to see which one offers you the best rate and has discounts that apply to you is one way to find cheap insurance in New York — even if you have a few dings on your license.

• Cheapest car insurance for drivers with a ticket: Utica National
• Cheapest car insurance for drivers with an at-fault accident: Utica National
• Cheapest car insurance for high-risk drivers: Progressive, Allstate and USAA

Cheapest insurance company for drivers in New York with a speeding ticket: Utica National

A speeding ticket in New York is likely to cause an increase in your insurance premium, in addition to fines, fees and other potential state-imposed penalties. The exact increase will vary depending on your insurer, so it might pay to shop around with other insurers after getting a ticket.

Cheapest insurance company for drivers in New York with an at-fault accident: Utica National

An accident is stressful enough on its own, but if you are found to be partially or fully at-fault in the accident, you may face fines and other penalties in New York. If you have full coverage, the damage to your car would likely be paid for from your collision insurance, after you pay your deductible. Your insurance rate will probably increase when it's time to renew your policy after an at-fault accident, but getting a policy from one of the insurers below could help you save.

Cheapest rates in New York for high-risk drivers: Progressive

A high-risk driver in New York can be anyone with one or more infractions on their driving record. The most serious of these is a DUI. A single DUI conviction in New York comes with multiple penalties, including potential jail time for repeated offenses. In addition to these penalties, you are likely to pay significantly more for car insurance. You may even find that your insurer will not renew your policy after a DUI conviction.

Although not all states allow age as a rating factor, New York does permit insurers to consider a driver's age when determining their policy rate. Since young drivers are statistically more likely to be involved in an accident, the increased risk means they will probably pay more than the average for their car insurance. Although finding cheap insurance in NY for a teen driver can be a challenge, Bankrate found some insurers offering below-average rates for young drivers.

• Cheapest New York car insurance for insuring a teen driver: Utica National
• Cheapest car insurance for teens with a ticket: Utica National
• Cheapest car insurance for teens with an at-fault accident: Utica National
• Cheapest car insurance young drivers with a DUI: Progressive

Cheapest New York car insurance for insuring a teen driver: Utica National

Teens often have high rates for insurance because of the higher likelihood they will be involved in accidents. However, it is possible to find affordable coverage. Discounts for teen drivers and student drivers can help lower rates for young drivers, whether or not they have a spotless driving record.

Cheapest car insurance for young drivers with a ticket: Utica National

A young driver with a speeding ticket conviction is likely to pay higher-than-average rates for car insurance. In this case, gathering quotes from several insurers to compare or taking a defensive driving course (as it may earn you a discount) could be beneficial. When searching for competitive rates, consider the companies below:

Cheapest car insurance for young drivers with an at-fault accident: Utica National

A young driver who has been found at fault in an accident may be placed in a higher risk category, making finding an affordable provider more challenging. Based on Bankrate’s research, the companies below offer more reasonable average rates for teen drivers with an accident on their records.

Cheapest car insurance for young drivers with a DUI: Progressive

Because young drivers are naturally higher risk to insure due to their limited driving experience, having a high-risk incident like a DUI on their driving record would only amplify their high-risk profile. This would not only make car insurance more expensive but may even make securing standard car insurance more difficult as not all insurers will write policies for drivers with a DUI. The following carriers may be able to offer more affordable coverage for young drivers who qualify.

If you are wondering how to save on car insurance in New York, which tends to have high average premiums, discounts may help. Most insurers have at least a few discounts available for policyholders. Here are some of the more common ones.

• Bundling: You might save on your premium if you carry multiple insurance policies, like auto and home, with the same carrier.
• Safety features: Newer cars generally have more safety features like multiple airbags and antilock brakes. Insurers may reward these risk-mitigating features with a discount. Anti-theft devices may also earn a discount.
• Defensive driving course: In many places, including New York, you may save money on your insurance by taking a defensive driving course every few years.
• Student discounts: Young drivers may earn a discount if they maintain a high GPA or attend school away from home and do not bring a vehicle.
• Organizational discounts: Some insurers will take a percentage off your premium if you belong to organizations such as alumni groups or professional associations.
• Military discounts: Carriers may extend a discount if you are an active or retired military member.

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