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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: NicolasMcComber/Getty Images March 24, 2022 June Sham is an insurance writer for Bankrate. Before joining the team, she worked for nearly three years as a licensed producer writing auto, property, umbrella and earthquake policies. Angelica Leicht is an insurance editor on the Bankrate team. She is truly passionate about helping readers make well-informed decisions for their wallets, whether the goal is to find the right comprehensive auto policy or the best life insurance policy for their needs. Bankrate logo The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate logo Insurance Disclosure
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . 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. Owning a car in New York City can be expensive, but finding cheap car insurance in New York City is easier than it may seem. The average cost of car insurance in the Big Apple is $1,769 per year for full coverage, according to Bankrate’s analysis of average rate data. That’s lower than the state, which is $4,959 per year for full coverage car insurance. Minimum coverage insurance in New York City costs, on average, $547 per year. However, many insurance agents do not recommend minimum coverage policies, as they may not offer adequate financial protection in the event of an accident. Compare rates and save on auto insurance today! Get quotes Close X RatesRates keep going up in 2022. Compare rates and save on auto insurance today! Get quotes Close X 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. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . 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. See more providers in Choose from insurers in Show More RATE INCREASE ALERT Rates increased up to 12% this year
Shop for a better rate before you renew your current policy. 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. Compare auto insurance rates
Answer a few questions to see personalized rates from top carriers. Save on auto insurance with quotes from trusted providers like: Drivers switch & save an average of $750+/year Arrow Right Are you overpaying for auto insurance? Arrow Right Safe drivers choose Allstate Arrow Right Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . 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. See more providers in Choose from insurers in Show More Luckily, minimum coverage isn’t the only option for affordable car insurance in the Big Apple. New York City insurance carriers are competitive, and Bankrate reviewed rates and other important factors for dozens of carriers to find the best and cheapest car insurance companies in the city. The cheapest car insurance company in New York City is Main Street America, according to Bankrate’s 2021 study of quoted average premiums. Read on to find out if Main Street America, and the other best cheap car insurance companies we’ve identified, are the right fit for you. Best cheap car insurance companies in New York City
The in New York City are Main Street America and Progressive, according to Bankrate’s study of average premiums from Quadrant Information Services. Close contenders are Geico, Erie and USAA, although the latter has strict eligibility requirements. Affordability is only one metric that our editorial team used to grade these companies. To find the cheapest and in New York City, we also looked at other important factors, like policy offerings, discounts and third-party ratings, including J.D. Power’s Auto Insurance Study for customer satisfaction and AM Best’s ratings for ongoing financial strength. Each company was then awarded a Bankrate Score based on these factors, ranging from one to five points, with a 5 indicating strong performance in these key categories. Insurance company Bankrate Score Average annual premium for full coverage Average annual premium for minimum coverage Main Street America 3.5 Not rated $1,077 $494 4.4 813/1,000 $2,146 $1,440 4.7 827/1,000 $3,192 $1,651 4.6 Not rated $3,269 $1,644 5.0 868/1,000* $3,928 $1,759 *Not officially ranked by J.D. Power due to eligibility restrictions Main Street America
As a regional carrier, Main Street America is one of the smaller car insurance companies on this list, but it offers cheapest average rates for both full and minimum coverage car insurance in New York City. It also offers additional opportunities to save money, including the options of a diminishing deductible and accident forgiveness. However, it’s worth noting that the company did not rank in the 2021 J.D. Power Auto Insurance Study and received the lowest Bankrate score at 3.5 out of 5 points. Progressive
Drivers who want low rates and accessibility features may want to consider Progressive. This insurance company’s online Name Your Price tool allows prospective customers to build their car insurance policy around cost, which can be useful to help stay within budget for your car insurance policy. Web and mobile app accessibility also make it easy to manage a car insurance policy online. Customer service ratings seem mixed, however, as Progressive did rank in J.D. Power’s 2021 Auto Insurance Study for the New York area, but was far below the average for the region. Learn more: Geico
Geico has become known for affordable car insurance rates in New York City and beyond. While the company did not have the cheapest average rates on our list for car insurance in New York City, it does offer an array of unique discounts, including savings opportunities for members of specialized occupations, professionals associations and employee organizations. The carrier also offers a long list of unique discounts based on occupation, as well as membership in professional and employee organizations. Learn more: Erie
Another regional carrier, Erie offers coverage in New York City with an average price that’s affordable compared to many competitors. Erie also offers add-on options, which include coverage for pets and personal items in the vehicle, as well as locksmith services to help you get back into your car if you’re locked out. One drawback, however, is its limited availability. If you move to another state outside of where Erie operates, you will need to look for a new car insurance carrier. Learn more: USAA
USAA offers some of the cheapest average car insurance rates in New York City, which makes it an option worth considering for its members. However, USAA membership is only available to active military, veterans and qualifying family members, which means that it’s not available to all drivers in this city. That said, military members may appreciate its specialized coverage options and unique discounts, which include a 15% discount if your car is in a garage on a military base. If you are deployed and need to place your car in storage, the discount could be up to 60% with this insurer. Learn more: How to get and keep the cheapest car insurance in New York City
New York City is typically at or near the top of the lists of the most expensive cities in the United States. For drivers in NYC, finding affordable rates on car insurance is just the first step. Keeping the low rates is another crucial step. If you want to find and keep the cheapest car insurance in New York City, keep these tips in mind: Know your coverage limits. Understanding what you want in your car insurance policy will help direct the final cost. For example, if you are comfortable paying a larger deductible out-of-pocket, raising the deductible on your collision and comprehensive coverage could help lower the amount of your premium. Or, if you have access to another vehicle or have towing and roadside through another service, you may also be able to skip these additional types of coverage on your policy. Practice safe driving. Maintaining clean driving records is one of the easiest ways to save money on car insurance, but the traffic of New York City can make this difficult. Still, insurance providers want to insure safe drivers and may reward them with incentives and discounts for safe driving. If you do have a mark on your driving record, it can help to shop around with different carriers to find a cheaper policy. Frequently asked questions
What is the best car insurance company in New York City
The in New York City is the company that will offer you the coverage options you need at the right price for your budget. All insurance companies in New York City offer different coverage options and rates, so the best way to determine the best car insurance company for you is to request quotes from multiple insurance companies for the type of coverage you need. This also allows you to compare the options to find the cheapest rates. How much does car insurance in New York City cost
The average cost of car insurance in New York City is $1,769 per year for full coverage insurance and $547 per year for minimum coverage insurance. On average, New York drivers pay slightly more for car insurance than the national average, but that doesn’t mean affordable rates are impossible to find in this city. Shopping around can help you get the best rates for your personal situation, and some companies might offer discounts that could make your car insurance even cheaper. How much car insurance do I need in New York City
New York City requires drivers to carry at least the statewide , which is $25,000 for bodily injury or $50,000 for any injury resulting in death sustained by any one person in any one accident; $50,000 for bodily injury not resulting in death sustained by two or more persons in any one accident; or $100,000 for any injuries resulting in death sustained by two or more persons in any one accident. It’s important to note, though, that the minimum coverage amount may not provide enough financial protection for every driver. Many insurance agents will suggest that, if possible, drivers should consider purchasing additional coverage to avoid being left in a financially vulnerable position if they cause an accident. How can I get car insurance online
Many companies now offer the option of obtaining a quote online or even purchasing a policy through their websites or apps. To do so, you will likely need to provide your full name and address, as well as the make and model of your vehicle. Your vehicle identification number (VIN) and driver’s license number may also be required to finalize the policy. Providing this earlier in the process can often result in a more accurate quote for your premium. Methodology
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits: $100,000 bodily injury liability per person $300,000 bodily injury liability per accident $50,000 property damage liability per accident $100,000 uninsured motorist bodily injury per person $300,000 uninsured motorist bodily injury per accident $500 collision deductible $500 comprehensive deductible To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually. Individual city rates represent 2021 data and a 2019 Toyota Camry. These are sample rates and should only be used for comparative purposes. Bankrate Score
Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support. To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from , , , NAIC, and Moodys had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider. While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores. SHARE: June Sham is an insurance writer for Bankrate. Before joining the team, she worked for nearly three years as a licensed producer writing auto, property, umbrella and earthquake policies. Angelica Leicht is an insurance editor on the Bankrate team. She is truly passionate about helping readers make well-informed decisions for their wallets, whether the goal is to find the right comprehensive auto policy or the best life insurance policy for their needs. Related Articles