Car Insurance in New York

From Buffalo to New York City, here's your guide to finding the most affordable coverage in New York. 

By Editorial Team, Car Insurance Land | Updated 2021

Here's the scoop on New York auto insurance

New York is the 4th largest state with 20 million residents spanning New York City to the capital of Albany to Buffalo. Each person is unique and so is the geography and the drivers around you. 

 

Learning about the right coverage for you and shopping for multiple quotes is the best approach to protect yourself and save. We analyzed several companies to help guide you in your shopping process in finding the best affordable auto insurance. We comparing rates for a 30yr old male driving a 2020 Honda CRV (a top vehicle in New York) driving 10,000 miles per year and garaging the vehicle in Albany. Here is what you need to know to get started saving.

Best Auto Insurance Companies in New York

 

GEICO is most affordable for many and it’s not surprising that they are by far the largest auto insurer in New York. GEICO is also growing very rapidly due to their easy online quote process and competitive rates. 

 

Allstate, State Farm, and Progressive are very popular insurance companies in New York, just like many other states.

The Top 10 Largest Car Insurance Companies in New York

Rank
Insurer
Premiums Written (in $ mil.)

Geico

Allstate

State Farm

Progressive

Liberty Mutual

Travelers

USAA

NYCM

National General

Nationwide

1
2
3
4
5
6
7
8
9
10

$4,602.6

$1,958.5

$1,721.1

$1,594.0

$816.4

$551.9

$436.7

$387.9

$288.9

$268.6

Full Coverage - GEICO is cheapest, providing great value and savings

 

Full coverage is the most popular coverage as it protects both you and your vehicle. We sampled top insurance companies both big and small with the most common liability limits of 50,000/100,000/50,000 and $1000 deductibles for both comprehensive and collision.

 

We found that GEICO offers the cheapest car insurance. Travelers and Nationwide also offer competitive rates and are good insurers to get a personalized quote with, Progressive is usually very affordable so you may want to quote them for your individual situation. While Liberty Mutual and Travelers are least competitive and might not be on your short list of companies. 

 

Given their competitive rates of GEICO, it is no surprise that they are the most popular auto insurance company in New York. Many of your neighbors have been switching to GEICO.

Best New York Full Coverage Car Insurance

Rank
Insurer
6-Month Premium

Geico

Travelers

Nationwide

Progressive

Liberty Mutual

Safeco

1
2
3
4
5
6

$390

$438

$486

$552

$570

$660

Liability only coverage can save you around 40% versus full coverage, meaning if you are paying $500 for full coverage every six month you can expect to pay closer to $300 for liability only coverage.

 

The savings are similar across companies so using the above list of top insurers is a good starting point to save. GEICO is expected to be cheapest for your individual situation. 

 

Depending on your vehicle value, you may choose liability only coverage (meaning not electing comprehensive and collision insurance. If your vehicle is leased or financed, you will be required to have full coverage. Before choosing liability only coverage, make sure you consider if you have the money to repair your vehicle or purchase a new vehicle if it is involved in an accident. The best approach is often to select a higher deductible which means you pay less on a monthly basis but would have to cover the deductible before your insurer pays if you have an accident. 

 

Travelers and GEICO are cheapest for drivers with accidents.

 

Accidents happen, about 10% of drivers have an accident each year and your premium can be impacted. Our analysis shows an accident can raise your full coverage premium by several hundred dollars, making shopping for the cheapest insurance very important. 

 

Travelers is most competitive from our research, only raising the premium $66 versus a quote without an accident. GEICO also offers very affordable insurance for having an accident at $600 for six months full coverage.

Best New York Full Coverage Car Insurance If You Have Accidents

Rank
Insurer
6-Month Premium

Travelers

Geico

Progressive

Liberty Mutual

Safeco

1
2
3
4
5

$504

$600

$660

$762

$996

GEICO also offers the cheapest insurance if you have a violation like a speeding ticket. 

 

Many of us have had a speeding ticket or another violation at one point and your insurance rate will likely increase. Insurance companies analyze their data and find that violations are predictors of a higher chance of an accident in the future. 

 

GEICO offers the best rates if you have a violation with Travelers coming in as the second most affordable. Having GEICO and Travelers at the top of your quoting list is a potential way to save money while protecting your assets. They both also offer property insurance, you can save more on your auto by bundling property with the same company. Remember - it is important to shop around and then make sure to get a new quote once the violation is three years old and insurers no longer surcharge for the violation(s).

Best New York Full Coverage Car Insurance If You Have Violations

Rank
Insurer
6-Month Premium

Geico

Travelers

Progressive

Liberty Mutual

Nationwide

Safeco

1
2
3
4
5
6

$600

$654

$660

$696

$744

$1,050

Progessive is cheapest for teenagers, allowing you to save over $500 per year versus other top insurers.

 

Insurance for teenagers can be very expensive as they aren’t always the safest drivers. Progressive provides the cheapest insurance. GEICO is not currently offering quotes online for drivers under 18 years old, so you will need to call them.

Best New York Full Coverage Car Insurance for Teenagers

Rank
Insurer
6-Month Premium

Progressive

Liberty Mutual

Travelers

Esurance

1
2
3
4

$1,770

$2,370

$2,412

$4,128

What you'll need to get a car insurance quote and purchase a policy in New York?​

 

Before you start looking for vehicle insurance, you'll need a few pieces of information in order to receive an accurate quotation, such as the:

  •  Make, model, and year of your vehicle 

  • Your driving record: Giving an honest account of any fines or accidents you've had can improve the accuracy of your quotation.

  • The mileage of your vehicle: Some insurers will want information to obtain an idea of how frequently you drive.

 

Learn more about the quoting process here.

How to Compare Automobile Insurance Rates in New York

Getting a few quotes from different providers and comparing rates and coverages is the best method to shop for auto insurance. Keep these four things in mind as you go:

 

  • Deductible - The greater your deductible, the cheaper your rate. However, be sure your deductible isn't so high that you can't afford to pay for repairs before your insurance kicks in. For comprehensive, collision, and gap coverages, you'll usually have to pay a deductible.

 

  • Types of coverage - A liability-only insurance will save you money, but it may not meet your needs. Your lender will need comprehensive and collision coverage if you lease or loan your vehicle. Some lenders may even need more liability coverage than the state minimum. Even if your automobile is paid off, if it is new, you should consider comprehensive and collision coverage to avoid paying an exorbitant repair cost yourself. Learn more about popular vehicle insurance policies.

 

  • Coverage limitations - This is the maximum amount your insurance will pay for physical injury or property damage. Selecting your state's minimal liability coverage will lower your rate, but it may not be enough to pay the amount owed to the injured person. To obtain a sense of how high you should set your limits, use a coverage calculator.

 

  • Premium - This is your bottom line – the precise cost of your insurance each payment cycle (options for payment frequency will vary). If you already know the coverages and deductibles you want, make sure each quotation includes them so you can compare apples to apples. If not, you may alter each quotation to observe how your pricing changes as more coverage is added.