What Are the Cheapest Auto Insurance Companies in New York?
Last Updated on January 19, 2023
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 for your car insurance coverage. Paying as little as possible for auto insurance in New York may be more important than drivers in other states, given the high cost of living in this state.
If you’re looking 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 you could lose a good deal of money if you opt for the first quote you receive.
Table of Contents:
- The Minimum Auto Insurance Coverage Requirements in New York State
- The Least Expensive Auto Insurance Companies in New York State
- The Cheapest Auto Insurance in Different Parts of New York
The 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, to be considered properly insured, 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 and different regions of NY.
The Least Expensive Auto Insurance Companies in New York State
These are the cheapest auto insurance companies in New York:
USAA is the cheapest car insurance provider in many states. The only “catch” is whether or not you qualify for membership. USAA membership is available to active and retired military personnel and certain qualifying family members. If you or an immediate relative has served in the United States military, you could qualify for USAA car insurance. USAA charges the cheapest rates in New York, on average, while also scoring high marks for customer service and claims satisfaction.
2. State Farm
State Farm is the largest car insurance company in the United States, insuring more vehicles across the country than any other provider on our list. Today, State Farm insures thousands of vehicles across New York, providing competitively-priced car insurance with various coverage options. Although State Farm has average ratings for claims satisfaction, the company offers competitive pricing and the amenities of a large insurance company.
Progressive, like GEICO and State Farm, is one of New York’s largest insurance companies, covering thousands of vehicles across the state. Progressive has relatively cheap car insurance premiums in New York, competing with famously affordable providers like USAA, State Farm, and GEICO. Although Progressive may not be the best choice for all drivers in all situations, the company maintains affordable pricing throughout the state.
GEICO is the second largest insurer in America. They’re also one of the cheapest insurers in New York. GEICO is particularly affordable for drivers with a good driving record. It’s also affordable for drivers with bad credit. Many drivers in New York pay cheaper rates with GEICO than with any other provider. If you’re looking for the cheapest car insurance in New York, you should always request a quote from GEICO.
Erie maintains competitive prices and high ratings for claims satisfaction and customer service. Erie frequently ranks near the top of J.D. Power’s annual insurance rankings in New York, indicating they provide better service than most other insurers. Despite the higher claims satisfaction rate, Erie maintains affordable prices compared to other top-ranked providers on our list, making them one of the best and cheapest insurers in New York overall.
Travelers is one of the top 10 largest insurance companies in the United States, and the company is popular throughout all corners of New York. In many cases, Travelers is the cheapest option available to you. Travelers tends to be a better option for older and more experienced drivers. However, rates also vary widely based on ZIP code.
Allstate has average reviews for customer service and claims satisfaction, although the company’s prices in New York are more affordable than many competitors. If you’re willing to compromise on coverage for cheaper insurance, then Allstate could be the right option for you, and the company offers all of the amenities of a large insurer.
Mercury is ideal for drivers with a clean record with no violations, as the company charges significantly higher rates after accidents. Mercury increases premiums substantially even after one or more speeding tickets. Nevertheless, if you’re able to maintain a clean record in New York, then Mercury could be one of the most affordable insurance options available to you.
9. American Family
American Family, like Mercury, is ideal for drivers with good driving records and credit scores. If you have a clean record with no history of accidents or violations, then American Family could be the right choice. Some drivers find American Family is the second or third cheapest provider on this list, depending on their driving history and location.
Chubb is one of the cheapest car insurance companies in New York for drivers listing a teen driver on their insurance policy. If you plan to add one or more teenaged drivers to your policy in New York, then consider requesting a quote from Chubb. Chubb also has above-average ratings for claims satisfaction while maintaining affordable pricing statewide.
The Cheapest Auto Insurance in Different Parts of New York
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.
If you live in Manhattan and 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 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 is as follows:
- West Bend Mutual – $815
- Farm Bureau Mutual – $830
- Western National – $830
In 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 is:
- 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 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 New York, it pays to shop around.