Average Cost of Car Insurance in New York for 2023

Whether you live in Manhattan or the Catskills, car insurance in New York can be pricey due to the state’s high cost of living and growing population. In fact, the average cost of car insurance in New York is about 12% higher than the national average of $1,529.

How much you pay for car insurance in New York depends on several factors, including your age, location, the type of car you drive, and the insurance company underwriting the policy.

Key takeaways:

• The average cost of car insurance in New York is $1,718 per year.
• Young drivers pay $511 per month on average.
• State minimum coverage costs an average of $1,615 per year.

How much does car insurance cost in New York?

Nearly 20 million people call New York home, and the state’s cost of living is one of the highest in the nation.

With more people — and more drivers on the road — and higher expenses, it’s no surprise that car insurance costs more in New York than in other states. The average cost of car insurance in New York is $1,718 per year for full coverage, which includes collision, comprehensive, and liability insurance.

In most states, minimum coverage is substantially cheaper, but the savings are much smaller in New York. The average cost of state-minimum coverage is $1,615 per year, a savings of just $103 compared to full insurance coverage.

Avg. cost for full coverage	Avg. cost for minimum coverage	Cheapest insurance provider
$1,718/year	$1,615/year	Progressive

Avg. for young drivers	Avg. cost for seniors	Avg. for high-risk drivers
$6,132/year	$2,336/year	$2,802/year

Average cost of car insurance in New York by provider

When it comes to car insurance, shopping around and comparing rates is always a good idea. In New York, the average premiums can vary significantly between companies. For example, we found that the average premiums from Travelers were more than double the cost of some policies from other companies, such as Progressive.

Although Progressive had the lowest average rates for full coverage, Geico and USAA were both less expensive for minimum liability insurance.

Provider	Full coverage	Minimum liability coverage
Allstate	$2,405/year	$1,443/year
Erie	$1,865/year	$1,169/year
GEICO	$1,857/year	$930/year
Progressive	$1,198/year	$1,051/year
State Farm	$1,994/year	$1,426/year
Travelers	$2,961/year	$1,596/year
USAA	$1,880/year	$939/year

How does credit score affect car insurance rates in New York?

Some states have laws that prohibit insurers from using credit scores to determine car insurance premiums, but New York hasn’t instituted such rules. Underwriters can use your credit history and credit score to decide your rates, so having good to excellent credit can help you save a substantial amount of money.

On average, the annual premium for drivers with poor credit is $5,082 per year. By contrast, those with excellent credit paid an average of just $3,643 — a savings of over $1,400, so spending time boosting your credit can pay off.

Credit health	Avg. annual premium
Poor (550-649)	$5,082/year
Average (650-699)	$6,309/year
Good (700-749)	$4,757/year
Excellent (750+)	$3,643/year

Average car insurance rates for high-risk drivers in New York

A high-risk driver is someone more likely to submit a claim or be involved in an accident than other drivers. If you have driving violations, speeding tickets, or have been convicted of driving under the influence (DUI), you can expect your premiums to skyrocket.

In New York, a single speeding ticket can cause your annual premiums to increase by over $700, while a DUI conviction will increase your premiums by over $1,600.

Violation	Avg. annual premium before violation*	Avg. annual premium after violation	Avg. cost increase
At-fault accident	$1,718/year	$2,666/year	$948
DUI	$1,718/year	$3,379/year	$1,661
Speeding ticket	$1,718/year	$2,426/year	$708

*Assumes clean driving record with good credit

How does age affect car insurance rates in New York?

According to Census Reporter, New York’s median age is slightly higher than the national average. There is some good news: coverage gets cheaper as you age in New York. The average rate at age 60 is about 27% less than the average rate for a 25-year-old.

Age	Avg. annual premium
18	$5,904/year
25	$3,138/year
30	$2,709/year
40	$2,704/year
60	$2,276/year

New York car insurance rates by city

Your rates are partially determined by where you live. Generally, urban areas, particularly densely populated areas like New York City, are significantly more expensive than rural or suburban areas like Rochester. 

The difference in rates is because urban areas have higher incidences of accidents and crime, so drivers are more likely to be the victims of car theft or property damage.

City	Avg. annual full-coverage premium
Albany	$1,838/year
Buffalo	$2,150/year
New York	$3,430/year
Rochester	$1,566/year
Syracuse	$1,734/year
Yonkers	$3,006/year

NY's minimum car insurance requirements

Like the majority of states, New York requires drivers to have car insurance. However, New York’s limits are higher than some other states. Drivers must meet the following coverage minimums:

• $10,000 for property damage for a single accident
• $25,000 for bodily injury and $50,000 for death for a person involved in an accident
• $50,000 for bodily injury and $100,000 for death for two or more people in an accident

How to save money on car insurance in New York

Although the average cost of car insurance in New York is higher than in other states, there are ways to save money and find affordable coverage:

• Sign up for Combat Auto Theft (CAT): CAT is a voluntary program where drivers sign up to have an official decal placed on their cars. If police see the car on the road between the hours of 1:00 a.m. and 5:00 a.m. — the time when car thefts are common — law enforcement can stop the vehicle without other cause. Many companies offer discounts to program participants.
• Consider usage-based insurance (UBI): UBI, also known as pay-per-mile coverage, bases your premiums on your driving habits and mileage. Safe drivers can reduce their premiums by 5% to 47% by opting for UBI coverage.
• Change your deductible: Your deductible is how much you have to pay for damages or injuries before your insurance will cover those expenses. Raising the deductible — for example, increasing it from $500 to $1,000 — will reduce your monthly premiums.
• Shop around: As mentioned above, rates can vary a great deal between companies. Requesting quotes and shopping around at least once per year can be an excellent way to save money. You can use our picks for the best car insurance companies as a starting point.

FAQs about car insurance costs in NY