What Are The Cheapest Auto Insurance Companies In New York?
Last Updated on November 4, 2020
Just like most other states, if you are a driver in the state of New York, you are legally obligated to carry auto insurance. And, just like drivers in other states, there’s no doubt that if you are a New Yorker, you want to make sure that you are paying the cheapest rates possible for your car insurance coverage. Actually, paying as little as possible for auto insurance in New York may be more important than drivers in other states, given the overall high cost of living in this state.
If you’re on the hunt for cheap car insurance in New York, shopping around is your best bet. The same limits and coverage can vary significantly from company to company, which means that you could lose out on a good deal of money if you opt for the first quote you receive.
Minimum Auto Insurance Coverage Requirements In New York State
Before we discuss the cheapest auto insurance providers, it’s first important to understand the coverage requirements in this state.
In New York, in order to be considered properly insurance, your auto insurance policy has to meet or exceed the following personal injury and liability protections:
- Bodily injury – $25,000 per person or $50,000 per accident
- Property damage – $10,000 per accident
- Personal injury protection – $50,000 per accident
- Uninsured motorist bodily injury – $25,000 per person or $50,000 per accident
To make finding the cheapest car insurance in New York easier, we have taken the time to research rates from the largest auto insurance providers in the state overall, as well as different regions of the state. Below are our findings.
Least Expensive Auto Insurance Companies in the State of New York
These quotes are based on a single man with a clean driving record in his 30s across multiple cities in New York State:
- GEICO – about $820
- Erie – an average of $1,100
- Progressive – an estimated $1,400
- Nationwide – approximately $1,500
- State Farm – about $1,520
- Allstate – $1,952
We were also able to find the least expensive car insurance companies in multiple cities throughout New York State. Below is a look at what we found (Source – ValuePenguin).
If you live in Manhattan and you are looking for the least expensive rate for your car insurance, GEICO, Nationwide, and Erie are your three best options. All three of these providers are reputable and offer options that meet or exceed the coverage requirements for the state at the most affordable price.
The average price for these three providers in Manhattan are as follows:
- GEICO – $1,300
- Nationwide – $2,275
- Erie – $2,580
In Buffalo, GEICO, Erie and Nationwide again offer the least expensive rates for car insurance. Their average rates are as follows:
- GEICO -$ 890
- Erie – $1,260
- Nationwide – $1,290
In the city of Rochester, the cheapest car insurance providers include West Bend Mutual, Farm Bureau Mutual, and Western National. The average price for an auto insurance policy from these companies in Rochester are as follows:
- West Bend Mutual – $815
- Farm Bureau Mutual – $830
- Western National – $830
In the city of Hempstead in Long Island’s Nassau County, GEICO, Erie, and Nationwide offer the least expensive prices. Their average prices are as follows:
- GEICO – $1950
- Erie – $1985
- Nationwide – $2680
The lowest auto insurance prices in the city of Huntington in Suffolk County on New York’s Long Island were offered by GEICO, Erie, and State Farm. The average cost for an auto insurance policy from these companies include:
- GEICO – $1,050
- Erie – $1,790
- State Farm – $2,090
In New York’s Upstate city of Corning, the car insurance providers that offered the lowest rates were GEICO, Erie, and Progressive. The average prices for auto insurance coverage for these three companies were as follows:
- GEICO – $660
- Erie – $830
- Progressive – $970
Just across the bridge from Manhattan in New York’s Staten Island, the insurance providers that charged the least amount of money and met the minimum requirements for auto insurance include GEICO, Nationwide, and State Farm. The average rates from these three companies were as follows:
- GEICO – $1,260
- Nationwide – $2,240
- State Farm – $2,570
The Bottom Line
Overall, the companies that offered the most reasonable prices for auto insurance in cities throughout the state of New York are GEICO, Nationwide, and Erie; however, other companies that offered fair prices included Allstate, State Farm, and Progressive.
As you can see, if you’re looking for the cheapest auto insurance possible in the state of New York, it really does pay to shop around.