Average Cost of Car Insurance in New York

By Kelly Boyer Sagert · March 02, 2023 · 6 minute read

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Average Cost of Car Insurance in New York

When shopping for car insurance, how much is too much to pay? The answer can vary based on your driving record, age, car type, insurer, and even where you live. But knowing the average cost of coverage in your state can help as you’re comparing quotes. Here’s a look at average prices in New York and how different factors can impact how much drivers there pay for protection.

How Much Does Car Insurance Cost in New York?

Drivers in New York pay an average of $1,872 per year for car insurance, according to a 2023 U.S. News & World Report analysis of cheap car insurance companies. By comparison, the national average is $1,442 per year.

Average Car Insurance Cost in New York per Month

The average monthly cost of car insurance in New York is $156, or roughly $36 more than the national monthly average of $120.17. The amount you pay can vary by insurer, as the chart below shows.

Company Average Cost Per Month Average Annual Cost
Allstate $131.16 $1,574
Erie $121.08 $1,453
Geico $124.50 $1,494
Mercury $370.91 $4,451
Progressive $71.25 $855
State Farm $155.67 $1,868
USAA $117.25 $1,407

Source: U.S. News & World Report

Average Car Insurance Cost in New York by City

Your location can influence how much you pay for car insurance in New York. That’s because when setting rates, insurers often consider the local volume of traffic, accidents, and crime. People living in cities tend to pay more for car insurance than those living in small towns or rural areas. But as the chart below shows, prices can also vary by city. Here are estimates for 10 of the biggest cities in New York:

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City Average Annual Cost
Schenectady $1,524
Rochester $1,526
Albany $1,532
Utica $1,579
Syracuse $1,622
Buffalo $2,093
New Rochelle $2,374
Yonkers $2,847
Mount Vernon $3,017
New York City $3,924

Source: Insure.com

Average Car Insurance Cost in New York by Age and Gender of the Driver

Your age can impact your premiums. Younger, first-time drivers, for example, often pay more for coverage because they tend to have more accidents than older, more experienced drivers. Gender can play a role, too. In New York, women may end up paying less for car insurance than men because they tend to get into fewer severe accidents.

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Age of Driver Average Annual Cost for Men Average Annual Cost for Women
18 $6,156 $5,038
25 $2,413 $1,897
65 $2,016 $1,980

Source: Insure.com

Related: Insurance Tips for First-Time Drivers

Average Car Insurance Rates After an At-Fault Accident

As anyone who has been in a fender bender knows, car insurance rates tend to go up after an accident. New York drivers with a clean record pay around $1,872 per year for coverage. That amount rises to an average of $1,951 for drivers who have one accident.

But even traffic violations can cause prices to go up. A driver with one speeding ticket on their record pays an average of $2,190 for coverage, and one driving under the influence (DUI) offense causes rates jump to an average of $2,789.

Related: Car Insurance Terms, Explained

Average Car Insurance Costs for Good and Bad Credit

Your credit score doesn’t just impact your ability to secure a loan. It can also play a role in how much you pay for car insurance. According to an analysis conducted by MoneyGeek, drivers with poor credit pay $10,640 on average per year for coverage, while those with excellent credit pay around $3,927.

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What Else Affects Your Car Insurance Cost?

Here are other factors that can cause your car insurance rates to go up — or down.

Marital Status

Married drivers may qualify for more discounts than single drivers, since insurers often place them in a different risk category.

Make and Model of the Car

Your car’s safety features, accident rating, size, and overall value can all affect your insurance rates.

Recommended: How Much Does Insurance Go Up After an Accident?

Amount of Coverage

The amount of coverage you need comes down to a number of factors, including your state’s minimum car insurance requirements, your budget, and your lifestyle. As a rule of thumb, the more coverage you have, the more expensive your policy will be.

The type of deductible you choose can also influence your overall costs. A deductible is the amount of money you’re responsible for after an accident before the insurance company pays its portion. With a higher deductible, you pay less money in premiums each month, but will be responsible for a bigger share of the expenses if you get in an accident.

Insurance History

Drivers who allow their coverage to lapse may be more likely to cancel their policy, so having a reliable history with one insurer may qualify you for a lower rate. In fact, it’s possible you’ll get a better quote when switching car insurance carriers than if you purchase insurance after going a few years without it.

Recommended: How to Lower Car Insurance

How to Get Affordable Car Insurance

The cost of coverage often varies by insurer. To find affordable car insurance, it’s a good idea to shop around and compare quotes. You can search online insurance companies and compare multiple car insurance rates.

You’ll also want to figure out how much car insurance you need. Keep in mind your state’s minimum car insurance requirements as well as additional coverage you may need.

If you’re looking to lower your car insurance, there are several strategies to consider. You may want to explore different policy options; look for bundling opportunities, such as getting your home and auto insurance from the same company; ask about possible discounts; and consider whether a policy with a higher deductible makes sense for you.

The Takeaway

Drivers in New York pay an average of $1,872 per year for car insurance, which is higher than the national average of $1,442 per year. However, the amount you pay can depend on several factors, including your age, gender, driving record, credit score, marital status, and where you live. It helps to shop around and compare multiple quotes to find coverage that fits your needs and budget.

Feeling uncertain about how much auto insurance you really need or what kind of premium you might have to pay to get what you want? Check out SoFi’s online auto insurance recommendations.

The better you drive, the more you can save.

FAQ

How much is car insurance in New York monthly?

The average cost of car insurance in New York is $156 per month. But you may end up paying a different amount based on a wide range of factors, such as age, gender, driving record, credit score, and location.

How much is car insurance in New York for a 25-year-old?

A 25-year-old man pays an average of $2,413 per year for car insurance. Women of the same age pay an average of $1,897 per year. Gender and age are two of several factors that can impact how much you pay for coverage.

Is $300 a lot for car insurance?

In many cases, the average monthly cost for coverage in New York is below $300. But premium amounts vary based on a number of factors. An 18-year-old male driver, for example, could very well pay more than $300 per month because of his age and lack of driving experience.


Photo credit: iStock/cmart7327

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