Average Cost of Car Insurance in New York for 2024 | Bankrate (2024)

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Average Cost of Car Insurance in New York for 2024 | Bankrate (1)Written by

Jessie See

Average Cost of Car Insurance in New York for 2024 | Bankrate (2)Edited by

Lisa McArdle

Average Cost of Car Insurance in New York for 2024 | Bankrate (3)Reviewed by

Mark Friedlander

Average Cost of Car Insurance in New York for 2024 | Bankrate (4)Edited by

Lisa McArdle

Average Cost of Car Insurance in New York for 2024 | Bankrate (5)Reviewed by

Mark Friedlander

Updated Sep 01, 2024

In the state of New York, the average cost of car insurance is $3,697 per year for full coverage and $1,544 for year for minimum coverage.

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Average Cost of Car Insurance in New York for 2024 | Bankrate (6)

Average Cost of Car Insurance in New York for 2024 | Bankrate (7)

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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. 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.

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How much is car insurance in New York?

Drivers in New York pay a high premium for their auto insurance coverage. How much is car insurance in New York? Based on data sourced from Quadrant Information Services, the average driver pays $3,697for full coverage insurance, which includes collision andcomprehensive, while state-mandated minimum insurance costs an average of $1,544. The national averages, meanwhile, are a somewhat lower $2,348 for full coverage, and $639 for minimum. New Yorkers have relatively high minimum requirements for car insurance, which is just one reason for the high New York car insurance rates. Finding the best coverage for your needs may take some research, but with a little work you should be able to find affordable insurance in the Empire State.

Key takeaways

  • The average cost of car insurance in New York per month is $129 for minimum coverage, while full coverage costs an average of $308 a month.
  • Drivers in New York who purchase full coverage pay an average rate that is 59 percent more than the national average.
  • Eighteen-year-old drivers on their own insurance policy pay the highest average insurance rates of all the driver profiles we analyzed.
  • New York drivers with poor credit-based insurance scores pay an average of 106 percent more for full coverage than a driver with a good credit-based insurance score.
  • Drivers who have vehicles that are higher in value and cost more to repair typically pay higher-than-average rates.

New York car insurance rates by city

When looking at the average car insurance cost in New York, it's important to note that the average may vary depending on where you live in the state. If you are in one of New York's high-density urban areas, you may pay more for your coverage than those in more rural areas. This is due to the increased risk of accidents and other vehicle mishaps in areas with dense traffic patterns. Here are average rates for some of the state's cities and towns:

CityAvg. monthly full coverage premiumAvg. annual full coverage premiumAvg. savings vs. state average

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Rates refreshed as of Sep 2024

Read our full methodology

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Insurance disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. 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.

Average car insurance costs by age and gender in New York

Your age influences how much you pay for car insurance in New York. Younger drivers have less experience behind the wheel and a higher likelihood of accidents, so they tend to pay significantly higher rates for car insurance. As you can see below, 18-year-old male drivers on their own policy in New York pay average full coverage rates 149 percent more than the state average.

Gender is another factor that can affect the cost of your car insurance. Statistics show that male drivers are more likely to engage in risky driving behavior, such as speeding. In some states, insurance companies use this information to justify charging a higher rate for male drivers. Not all states allow gender as a rating factor, but New York does.

Age

Avg. monthly full coverage premium in New York

Avg. annual full coverage premium in New York

Age 16*

Avg. monthly full coverage premium in New York

$618

Avg. annual full coverage premium in New York

$7,411

Age 18

Avg. monthly full coverage premium in New York

$778

Avg. annual full coverage premium in New York

$9,332

Age 20

Avg. monthly full coverage premium in New York

$607

Avg. annual full coverage premium in New York

$7,290

Age 25

Avg. monthly full coverage premium in New York

$369

Avg. annual full coverage premium in New York

$4,429

Age 30

Avg. monthly full coverage premium in New York

$330

Avg. annual full coverage premium in New York

$3,964

Age 40

Avg. monthly full coverage premium in New York

$313

Avg. annual full coverage premium in New York

$3,751

Age 50

Avg. monthly full coverage premium in New York

$299

Avg. annual full coverage premium in New York

$3,586

Age 60

Avg. monthly full coverage premium in New York

$294

Avg. annual full coverage premium in New York

$3,524

Age 70

Avg. monthly full coverage premium in New York

$325

Avg. annual full coverage premium in New York

$3,897

*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied

Caret DownCaret Up

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Rates refreshed as of Sep 2024

Read our full methodology

Age

Avg. monthly full coverage premium in New York

Avg. annual full coverage premium in New York

Age 16*

Avg. monthly full coverage premium in New York

$596

Avg. annual full coverage premium in New York

$7,157

Age 18

Avg. monthly full coverage premium in New York

$753

Avg. annual full coverage premium in New York

$9,031

Age 20

Avg. monthly full coverage premium in New York

$561

Avg. annual full coverage premium in New York

$6,728

Age 25

Avg. monthly full coverage premium in New York

$371

Avg. annual full coverage premium in New York

$4,451

Age 30

Avg. monthly full coverage premium in New York

$336

Avg. annual full coverage premium in New York

$4,033

Age 40

Avg. monthly full coverage premium in New York

$304

Avg. annual full coverage premium in New York

$3,643

Age 50

Avg. monthly full coverage premium in New York

$292

Avg. annual full coverage premium in New York

$3,504

Age 60

Avg. monthly full coverage premium in New York

$294

Avg. annual full coverage premium in New York

$3,523

Age 70

Avg. monthly full coverage premium in New York

$319

Avg. annual full coverage premium in New York

$3,829

*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied

Caret DownCaret Up

Auto insurance rates are known to fluctuate frequently, but you can rely on Bankrate to offer you the latest options available.

Rates refreshed as of Sep 2024

Read our full methodology

Bankrate’s take:Your age and gender play a role in your New York car insurance rate because of statistical risk differences among different ages and genders. Younger drivers and male drivers are statistically more likely to get into accidents and engage in risky driving behavior like speeding and driving under the influence. As a result, most carriers charge higher rates for young drivers and slightly higher rates for male drivers to compensate for this added risk.

Cost considerations for young drivers in New York

Young drivers may be able to save on premiums by remaining insured on their parents' policy. The table below shows the premium difference for drivers aged 20 and younger who join their parents' existing policy compared to those who purchase their own policy.

Age

Avg. annual premium for drivers in NY

Age 16*

Avg. annual premium for drivers in NY

$7,284

Age 17

Avg. annual premium for drivers in NY

$7,038

Age 18

Avg. annual premium for drivers in NY

$6,633

Age 19

Avg. annual premium for drivers in NY

$5,790

Age 20

Avg. annual premium for drivers in NY

$5,503

*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied

Rates refreshed as of Sep 2024

Read our full methodology

Age

Avg. annual premium for drivers in NY

Age 18

Avg. annual premium for drivers in NY

$9,181

Age 19

Avg. annual premium for drivers in NY

$7,698

Age 20

Avg. annual premium for drivers in NY

$7,009

*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied

Rates refreshed as of Sep 2024

Read our full methodology

AgeAvg. annual premium difference for drivers on their own policy
Age 1838 percent more
Age 1933 percent more
Age 2027 percent more

*18- and 20-year-old are renters on their own policies with no discounts applied

How does driving record impact the cost of car insurance in New York?

Blemishes on your driving record such as speeding tickets, at-fault accidents and DWIs (driving while intoxicated) may all have a direct impact on how much more you pay for auto insurance. Some insurance companies may even deny coverage to drivers with high-risk incidents on their record, like a DUI, or those who have been caught driving without insurance, which is illegal in the state. The following table breaks down the average premium costs a New York driver with various moving violations may pay and the percentage increase from average full coverage premiums.

Driving incident

Avg. annual premium* in New York

Percentage increase from New York avg. annual premium*

Clean driving record

Avg. annual premium* in New York

$3,697

Percentage increase from New York avg. annual premium*

0%

Speeding ticket conviction

Avg. annual premium* in New York

$4,088

Percentage increase from New York avg. annual premium*

11%

At-fault accident

Avg. annual premium* in New York

$4,069

Percentage increase from New York avg. annual premium*

10%

DUI conviction

Avg. annual premium* in New York

$5,890

Percentage increase from New York avg. annual premium*

59%

*The rates reflected are for full coverage policies.

Rates from Sep 2024

Read our full methodology

Car insurance rates in New York by credit tier

Another factor that impacts the rate you pay for your policy is your credit score. Not all states allow insurers to consider this factor, but New York does. If you have excellent credit, insurers know you have a demonstrated ability to pay your bills in full and on time, and thus they are more likely to give you a favorable rate. Drivers with a poor credit rating, meanwhile, may struggle to pay their premiums, and thus they are likely to pay more to compensate for the risk to the insurer.

Credit tier

Avg. annual premium* in New York

Percentage difference from New York avg. annual premium*

Poor

Avg. annual premium* in New York

$7,625

Percentage difference from New York avg. annual premium*

106%

Average

Avg. annual premium* in New York

$4,248

Percentage difference from New York avg. annual premium*

15%

Good

Avg. annual premium* in New York

$3,697

Percentage difference from New York avg. annual premium*

0%

Excellent

Avg. annual premium* in New York

$3,105

Percentage difference from New York avg. annual premium*

-16%

*Rates reflect full coverage policies.

Rates from Sep 2024

Read our full methodology

New York car insurance rates by vehicle type

If you drive a high-end luxury vehicle, or one with pricey imported parts, you may find yourself paying more for your insurance than someone who drives a more standard, domestic-made car. Insurers here are considering the relative costs of repairing your vehicle after an accident. The more repairs are likely to cost, the higher your premium rate may be.

Vehicle

Avg. annual premium* in New York

Toyota Camry

Avg. annual premium* in New York

$3,697

Ford F-150

Avg. annual premium* in New York

$3,418

Honda Odyssey

Avg. annual premium* in New York

$3,296

BMW 330i

Avg. annual premium* in New York

$4,326

Toyota Prius

Avg. annual premium* in New York

$3,988

*Rates reflect full coverage policies.

Rates from Sep 2024

Read our full methodology

Estimate your car insurance cost in New York

Buying car insurance can be complicated, so Bankrate created this calculator tool to help you get started. By inputting a few key numbers, it will produce a rough estimate of what you are likely to pay for your policy. Since rates vary from company to company, it may not be exact, but it will give you a good ballpark figure to start your search with.

Calculate your monthly car insurance payment

Get a quick estimate to make sure you're not overpaying.

An incident means you were at-fault for an accident, ticketed or summoned to court.

Please select age

Your information is secure

Not sure? Your best guess works just fine.

Please select credit score

These factors have the largest impact on your payment and are used to provide a personalized estimate. Based on the state you live in, some rating factors may not apply.

Why we're asking

We calculated your estimate by comparing your provided details to data from similar drivers. Our estimate assumes 2020 Toyota Camry, 12,000 miles annually, and 100/300/50 liability limits with $500 comprehensive and collision deductibles.

Methodology

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Advertising disclosure

This advertisem*nt 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 advertisem*nt 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 advertisem*nt. All offers are subject to additional terms and conditions.

Insurance disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. 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.

Powered by Coverage.com (NPN: 19966249)

Advertising disclosure

This advertisem*nt 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 advertisem*nt 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 advertisem*nt. All offers are subject to additional terms and conditions.

Insurance disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. 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.

How to save on car insurance in New York

While New York may be one of the most expensive states for auto insurance, drivers may be able to save on their premiums with some strategic planning. These tips and tricks may help bring down your insurance rate:

  • Shop around: Most insurance professionals recommend comparing quotes from different providers to see who may offer the cheapest rates for your specific insurance needs.
  • Discounts: Most carriers offer at least a handful of discounts to help policyholders save money. Common discounts include good student, bundling and safe driver.
  • Improve your credit score: Improving your credit score may help keep your premium low.
  • Increase your deductible: Your deductible is the amount you are responsible for out of pocket in the event of a collision or comprehensive coverage claim. Raising your deductible may bring down your premium, but note that insurance professionals recommend keeping your deductible low enough that you could pay it comfortably in the event of a claim.

Frequently asked questions

46

years of industry expertise

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

Methodology

Bankrate utilizes Quadrant Information Services to analyze September 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates for our base profile are based on the following characteristics and coverage levels:

40 year old

Single male and female driver

Average Cost of Car Insurance in New York for 2024 | Bankrate (12)

2022 Toyota Camry

Primary vehicle

Good credit score

Clean driving record

Commutes 5 days

Bodily injury liability

$100,000 per person
$300,000 per accident

Property damage liability

$50,000 per accident

Personal injury protection

$100,000 per accident

Uninsured motorist bodily injury

$100,000 per person
$300,000 per accident

Collision deductible

$500

Comprehensive deductible

$500

Other profiles

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

Average Cost of Car Insurance in New York for 2024 | Bankrate (2024)
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