Best car insurance in New York for 2024

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Auto insurance is required in New York. You cannot register your vehicle at the New York State Department of Motor Vehicles (DMV) until you purchase a policy. The state minimum limits include bodily injury liability and property damage liability, both of which have a “liability per person” and “liability per accident” limit. New York drivers must also purchase at least minimum limits of personal injury protection (PIP) and uninsured motorist coverage. In August 2023, a new law went into effect that requires insurance providers include spousal liability coverage, regardless of a policyholder’s marital status. However, this coverage can be declined in writing.

Rest assured that you do not need to memorize New York’s car insurance laws — you will not be able to buy a policy that does not comply with the minimum limits. But knowing the state minimum level of coverage could help you understand if you need higher limits or additional coverage options.

New York car insurance laws may not be the only authority with a say in how much coverage you need. If you’ve financed your vehicle, your lender will likely require you to carry coverage that goes beyond the state minimum requirements. Full coverage is not an industry-standard term, but it typically entails comprehensive and collision coverage plus state minimum requirements. In addition to these extra coverage types, a lender may also mandate that you raise your liability limits above state minimums.

If you owe a significant amount on your auto loan, adding gap insurance to your policy may be a wise idea. Guaranteed asset protection, or gap coverage, can help if your vehicle is totaled and the claim payout is less than what you owe on your loan.

To find the best car insurance in New York, you may want to start by making a list of your individual needs. Do you have a teen about to get their license? If so, you might want to look for an insurer that offers multiple discounts for teen drivers. Do you have a lower credit score? Consider an insurer that offers competitive rates for drivers with poor credit. Don’t neglect your vehicle’s make and model, either. For example, if you just purchased a brand new electric vehicle, many New York auto insurers offer new vehicle discounts or electric vehicle discounts.

You may also want to consider your policy management preferences when choosing between car insurance companies in New York. If you’re someone that prefers to speak with an agent face-to-face about your policy, a company with local agent offices in your area may be best. Or, if you’re more tech-savvy, a company with robust digital tools may be more your speed.

When looking for cheap car insurance in New York, Bankrate found that the lowest-cost options include Utica National, Geico, Progressive and Chubb. The cheapest car insurance won’t be the same for every driver, though. Your premium will depend on your unique rating factors, such as your vehicle type, location, driving record, age and gender.

The best car insurance in New York varies from person to person, depending on their individual circumstances, driving history and budget. For example, if you’ve had multiple accidents in the past few years, you might want to look for an insurance company with competitive rates for high-risk drivers. Or, if you don’t drive your car often, you could check out companies with telematics programs, which can reduce your premium if you maintain low mileage. Once you’ve determined what’s most important to you, you can seek out insurers that align with your needs and request quotes from multiple companies. Then, you can compare rates and policy features to figure out the best auto insurance company for you.

New York allows insurers to use credit-based insurance scores when setting auto insurance rates. Statistically, drivers with poor credit histories tend to file more claims than drivers with better credit. To make up for this increased risk, car insurance companies typically charge more for drivers with lower credit ratings. Working to improve your credit could lower your premium in New York.

Car insurance rates take into account various factors. For instance, the number and severity of car accidents, break-ins, theft and vandalism are all factors that can contribute to higher rates in certain locations. The area’s cost of living also influences auto insurance premiums. That’s because, in higher-priced places (like New York City), it’s more expensive to repair cars after an accident due to the higher costs of labor and auto parts. If you’re looking for cheaper coverage in New York, it pays to shop around and get quotes from multiple insurers before signing up for a new policy.

New York car insurance laws require that all drivers carry $25,000 in bodily injury liability per person and $50,000 per accident, $10,000 in property damage liability per accident, $50,000 of personal injury protection, $25,000 of uninsured motorist bodily injury per person and $50,000 of uninsured motorist per accident. Beginning August 2023, New York insurers are required to include spousal liability coverage in policies. However, drivers can choose to opt-out of this coverage in writing. As a no-fault state, New York's auto insurance requirements are more complex than many at-fault states.