The best car insurance companies in New York for 2024 are NYCM Insurance, Erie Insurance, Progressive and State Farm. This list is determined by analyzing the companies’ annual car insurance premiums, financial stability and customer satisfaction ratings.
Use our guide to find the right insurance company for your needs and budget. Navigate your insurance options in New York with confidence to choose the best car insurance company.
Our takeNYCM Insurance is the best car insurance company in New York. With an A financial rating from AM Best and competitive rates, it is an ideal choice for those seeking affordability and comprehensive coverage.
NYCM Insurance’s car insurance costs an average of $1,300 annually. Its J.D. Power score is 842/1,000 and its overall rating is 3.54 out of 5.
Based on CarInsurance.com’s analysis, Progressive provides the most affordable car insurance premiums at $1,020 annually.
Check out our experts’ recommendations for the best car insurance coverage
What are the best car insurance companies in New York?
When it comes to protecting your vehicle, finding the right car insurance is important. New York drivers have various top-rated insurers to choose from. Whether you prioritize the best overall experience, affordable rates or exceptional customer service, there’s an insurer to match your needs.
Here’s a detailed breakdown of New York’s best auto insurance companies by category.
| Category | Company |
|---|---|
| Best overall | NYCM Insurance |
| Most affordable | Progressive |
| Highest customer satisfaction | Erie Insurance |
| Best for teen | Erie Insurance |
| Best for young adults | Erie Insurance |
| Best for adults | Erie Insurance |
| Best for seniors | Erie Insurance |
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Compare the best auto insurance companies in New York
Comparing car insurance companies is important in finding the best policy that suits your specific requirements. Insurance rates can vary significantly from one company to another based on how they assess risk.
By comparing quotes, you can find affordable rates and potentially save money on your premiums. To make it easier, we’ve analyzed the best car insurance companies in New York. The table below shows the best auto insurance providers for New York drivers.
| Company | Annual cost | AM Best | J.D. Power | NAIC | Overall score out of 5 |
|---|---|---|---|---|---|
| NYCM Insurance | $1,300 | A | 842 | 0.22 | 3.54 |
| Erie Insurance | $1,814 | A | 845 | 0.61 | 3.04 |
| Progressive | $1,020 | A+ | 818 | 0.65 | 2.90 |
| State Farm | $1,951 | A++ | 826 | 0.70 | 2.75 |
| Geico | $1,736 | A++ | 821 | 0.91 | 2.73 |
| The Hanover | $2,262 | A | 835 | 0.60 | 2.67 |
| Allstate | $2,056 | A+ | 819 | 0.65 | 2.45 |
| Travelers | $2,677 | A++ | 821 | 0.49 | 2.39 |
Best car insurance companies by age group in New York
As drivers age, their needs, driving habits and risk profiles change, influencing their car insurance rates and the types of coverage they need. Understanding which car insurance company caters best to your needs helps you make more informed decisions, potentially leading to better coverage and cost savings.
Select your age group and coverage level below to see the list of best car insurance companies and their annual average rates.
| Company | Annual rates | Customer satisfaction rating |
|---|---|---|
- Full coverage: 100/300/100 liability with $500 comprehensive/collision deductible
- Liability only: 50/100/50 liability only
- State minimum: State minimum coverage
Check out our detailed guide on average car insurance rates by age group
Best for teen drivers in New York
Insurance premiums are typically higher for teen drivers because of their increased risk and inexperience. According to the Centers for Disease Control and Prevention, teen drivers are more likely to misjudge or not notice risky situations than older drivers.
Teen drivers are also more likely to make serious mistakes that can lead to major accidents. In 2022, 2,883 teenagers between the ages of 13 and 19 lost their lives in car accidents, according to a report from the Insurance Institute for Highway Safety.
Finding insurance companies that offer competitive rates and benefits for teen drivers, like good student discounts, driver training discounts and accident forgiveness, can help manage these costs.
Erie Insurance is an excellent choice for teen drivers looking to save on premiums. It offers car insurance at $4,914 annually.
When determining the best car insurance companies for teen drivers, several key factors were considered to ensure a comprehensive evaluation. The overall score for each company is derived from a weighted analysis of four main factors:
- The average annual full-coverage car insurance cost (25%)
- J.D. Power score (30%)
- AM Best rating (25%)
- NAIC rating (20%)
Each factor is assigned a specific percentage weight based on how they performed in each category.
Here are some top choices for teens aged 16-19 based on our analysis:
| Company | Annual cost | AM Best | J.D. Power | NAIC | Overall score out of 5 |
|---|---|---|---|---|---|
| Erie Insurance | $4,914 | A | 845 | 0.61 | 3.08 |
| Progressive | $3,173 | A+ | 818 | 0.65 | 2.9 |
| Geico | $4,705 | A++ | 821 | 0.91 | 2.78 |
| State Farm | $5,790 | A++ | 826 | 0.7 | 2.69 |
| NYCM Insurance | $3,236 | A | 842 | 0.22 | 2.65 |
| Travelers | $6,843 | A++ | 821 | 0.49 | 2.46 |
| Allstate | $6,413 | A+ | 819 | 0.65 | 2.32 |
| The Hanover | $4,822 | A | 835 | 0.6 | 1.93 |
Best for young adults in New York
Young drivers must find the right insurance company, as they usually encounter higher premiums due to their perceived risk. According to an analysis by the National Safety Council, drivers aged 20 to 24 were involved in 7,300 fatal crashes in 2022, which accounts for 11.2% of the total number of drivers involved in these incidents.
Companies such as Erie Insurance and Progressive offer more affordable rates for drivers aged 20-24.
For our 2024 ranking of the best car insurance companies for young adults, we considered four factors: average annual full coverage car insurance cost (25%), J.D. Power score (30%), AM Best rating (25%), and NAIC rating (20%). Each factor has been weighted accordingly to evaluate overall performance.
| Company | Annual cost | AM Best | J.D. Power | NAIC | Overall score out of 5 |
|---|---|---|---|---|---|
| Erie Insurance | $2,912 | A | 845 | 0.61 | 3.02 |
| Progressive | $1,579 | A+ | 818 | 0.65 | 2.90 |
| Geico | $2,404 | A++ | 821 | 0.91 | 2.83 |
| State Farm | $3,172 | A++ | 826 | 0.70 | 2.73 |
| Travelers | $3,613 | A++ | 821 | 0.49 | 2.57 |
| NYCM Insurance | $2,152 | A | 842 | 0.22 | 2.50 |
| Allstate | $3,140 | A+ | 819 | 0.65 | 2.48 |
| The Hanover | $3,197 | A | 835 | 0.60 | 1.78 |
Best for adult drivers in New York
Different age groups have varying needs and priorities when it comes to car insurance. The key considerations for adult drivers aged 25 to 60 are coverage options, better customer service and premium costs.
Erie Insurance is the best car insurance company in New York for adult drivers. It offers full coverage insurance at an average cost of $1,819 a year and has an overall rating of 3.03, higher among the companies analyzed.
We have evaluated and curated a list of the best car insurance companies for adult drivers based on four key factors: average annual full coverage car insurance cost in New York (25%), J.D. Power score (30%), AM Best rating (25%), and NAIC rating (20%).
Experienced drivers are generally considered low-risk compared to younger drivers. This age group typically benefits from lower insurance premiums due to their experience and lower accident rates.
Below is a list of the best insurance companies in New York for adults aged 25-60 and annual premiums.
| Company | Annual cost | AM Best | J.D. Power | NAIC | Overall score out of 5 |
|---|---|---|---|---|---|
| Erie Insurance | $1,819 | A | 845 | 0.61 | 3.03 |
| Progressive | $1,002 | A+ | 818 | 0.65 | 2.90 |
| State Farm | $1,940 | A++ | 826 | 0.70 | 2.76 |
| Geico | $1,761 | A++ | 821 | 0.91 | 2.72 |
| NYCM Insurance | $1,373 | A | 842 | 0.22 | 2.50 |
| Allstate | $2,060 | A+ | 819 | 0.65 | 2.45 |
| Travelers | $2,661 | A++ | 821 | 0.49 | 2.40 |
| The Hanover | $2,264 | A | 835 | 0.60 | 1.67 |
Best for senior drivers in New York
Erie Insurance provides the cheapest car insurance premiums among the companies analyzed at an average cost of $1,838 a year. It is an affordable option for senior drivers.
Finding the best car insurance companies for senior drivers requires a detailed analysis of various important factors. The overall score for each insurer is based on a weighted analysis of four different factors: the average annual full-coverage car insurance cost (25%), J.D. Power score (30%), AM Best rating (25%), and NAIC rating (20%). The percentage weight assigned to each factor corresponds to its importance in determining an insurance provider’s financial strength, affordability, customer experience and complaint ratio.
Below are the best auto insurance companies in New York for senior drivers aged 65-75.
| Company | Monthly cost | AM Best | J.D. Power | NAIC | Overall score out of 5 |
|---|---|---|---|---|---|
| Erie Insurance | $153 | A | 845 | 0.61 | 3.00 |
| Progressive | $87 | A+ | 818 | 0.65 | 2.90 |
| State Farm | $156 | A++ | 826 | 0.70 | 2.76 |
| Geico | $161 | A++ | 821 | 0.91 | 2.61 |
| NYCM Insurance | $114 | A | 842 | 0.22 | 2.50 |
| Allstate | $172 | A+ | 819 | 0.65 | 2.41 |
| Travelers | $231 | A++ | 821 | 0.49 | 2.27 |
| The Hanover | $190 | A | 835 | 0.60 | 1.61 |
Learn more about how to shop for car insurance for seniors
Best overall car insurance company in state
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Selecting the right insurance company is heavily influenced by your driver profile. Here’s how to choose the best insurer to meet your specific needs:
For budget-conscious drivers in New York
You should look for insurers that offer various car insurance discounts, such as safe driver discounts, multi-policy discounts or discounts for automatic payments, which can significantly lower your premiums. Many insurers also offer flexible payment options, such as monthly, quarterly or semi-annual plans, to help reduce the financial burden.
Here is a list of the best insurance companies and their annual premiums for various coverage levels.
| Company | State-minimum | Liability-only | Full coverage |
|---|---|---|---|
| Progressive | $428 | $467 | $1,020 |
| NYCM Insurance | $420 | $475 | $1,300 |
| Geico | $555 | $668 | $1,736 |
| Erie Insurance | $575 | $689 | $1,814 |
| State Farm | $885 | $1,005 | $1,951 |
| Allstate | $861 | $961 | $2,056 |
| The Hanover | $1,016 | $1,170 | $2,262 |
| Travelers | $1,362 | $1,467 | $2,677 |
| Chubb | $872 | $964 | $2,942 |
| USAA | $594 | $630 | $1,557 |
Notes:
- Full coverage car insurance limit is 100/300/100 with a $500 deductible.
- Liability-only car insurance limit is 50/100/50.
- State minimum car insurance is 25/50/10.
For high-risk drivers in New York
If you’re a high-risk driver or someone with traffic violations or DUIs, seek insurance companies specializing in high-risk policies. To help lower your rates, try to improve your driving record by taking a defensive driving course. These actions can help you save money on your insurance over time.
High-risk status isn’t forever. Work toward earning a clean driving record, improving your risk profile and comparing insurance quotes to find better rates.
| Company | 6-month cost | Annual cost |
|---|---|---|
| Progressive | $1,098 | $2,196 |
| State Farm | $1,225 | $2,450 |
| Geico | $1,338 | $2,676 |
| Allstate | $1,352 | $2,703 |
| Erie Insurance | $1,357 | $2,713 |
| Travelers | $1,720 | $3,440 |
| USAA | $984 | $1,968 |
By understanding their unique driver profiles and conducting thorough research, high-risk drivers can find insurance companies that best meet their needs.
In conversation with experts
CarInsurance.com editors interviewed James Brau, Joel C. Peterson, professor of finance at Brigham Young University. See his responses below.
How important is customer service when deciding the right car insurance company?
Customer service is critical – it should be one of the top factors consumers consider. All else equal, meaning similar premiums, coverage, riders, etc., customer service is often the deciding factor. If a customer gets to speak to a cheerful human without 10 minutes of robot phone trees, especially when stressed out after a wreck or theft, it makes life a lot better.
What are the key factors that consumers should consider when selecting a car insurance company in their state?
Customers should do research pertaining to coverage, premiums, reputation, how many stars on reviews, etc. Make sure to compare apples to apples – that you’re getting the same coverage amounts, for example. Shop around – competition helps the consumer.
How often should policyholders review and adjust their car insurance policies?
Every six months is a good rule of thumb because most people pay in semi-annual installments. If you keep your company on its toes, they are more likely to stay competitive and offer special pricing, deals, incentives, etc.
Frequently asked questions
What is the average cost of car insurance in New York?
The average annual cost of car insurance in New York is $1,870. This rate can vary depending on factors such as the driver’s age, driving history and coverage limits
How much car insurance coverage do I need in New York?
When assessing your car insurance needs in New York, consider the state’s legal requirements. Typically, the minimum coverage required in New York consists of $25,000 for bodily injury per person, $50,000 for bodily injury per accident, and $10,000 in property damage liability.
If you have valuable assets to safeguard, it’s wise to go beyond New York’s minimum requirements and opt for higher liability limits. Experts suggest getting full coverage car insurance with limits of 100/300/100 and a $500 deductible for collision/comprehensive.
Here’s what it means:
- $100,000 in bodily injury liability per person pays for injuries you cause to others in an accident.
- $300,000 in bodily injury liability per accident will cover injuries per accident, covering costs if multiple people are injured.
- $100,000 in property damage liability per accident covers damage you cause to another driver’s property in an at-fault accident.
Opting for higher limits is advisable as they provide increased protection against financial losses. When choosing coverage limits, also take into account your driving habits, the value of your vehicle and your finances.
Which company has the best car insurance rates in New York?
CarInsurance.com’s analysis shows that Progressive offers the lowest car insurance rates for New York drivers, with an average premium of $85 per month or $1,020 per year.
Resources & Methodology
Sources
- Insurance Institute for Highway Safety. “Fatality Facts 2022 Teenagers.” Accessed September 2024.
- Centers for Disease Control and Prevention. “Risk Factors for Teen Drivers.” Accessed September 2024.
- National Safety Council. “Age of Driver.” Accessed September 2024.
Methodology
CarInsurance.com collected insurance rate data from Quadrant Information Services for New York drivers. The rate data is for drivers of different age groups:
- Teens: Age 16-19
- Young adults: Age 20-24
- Adults: 25- 60
- Seniors: 60-75
The different coverage levels include:
- Annual full coverage car insurance with a coverage limit of $100,000 in bodily injury per person, $300,000 in bodily injury coverage per accident, $100,000 in property damage coverage per accident and a $500 collision/comprehensive deductible.
- A six-month car insurance policy with limits of 100/300/100-500 coll/comp deductible.
- Liability-only car insurance rates with a limit of 50/100/50.
- State minimum coverage limit of 25/50/10.
Car insurance rates are calculated by evaluating the sample profile of a 40-year-old male and female driver with the following incidents applied:
- 1 at-fault property damage accident over $2K
- 1 at-fault property damage accident under $2K
- At-fault bodily injury accident
- Poor credit
- DUI/DWI first offense
- Speeding 30+ over limit
- Speeding ticket 1-10 mph over limit
- Speeding ticket 11-29 mph over limit
The editors created a rating system to determine the best insurance companies in each sector. For auto insurers, we took the following and gave each a weight.
- Average annual cost: 25%
- J.D. Power score: 30%
- AM Best rating: 25%
Each insurer was awarded an overall rating of 0.5 to 5. No insurer in our overall rating received less than 1 rating and 5 was the most any insurer could receive.
To evaluate the rates, we have compared 51,088,003 insurance quotes from 167 national & regional insurance companies across 29,152 cities and 34,588 ZIP codes.
Note: USAA is only available to military community members and their families.
Ask the Insurance Expert
Laura Longero
Executive Editor
Laura Longero is an insurance expert and Executive Editor at CarInsurance.com, where she specializes in helping consumers navigate the complexities of the financial and insurance industries. She has 15 years of experience educating people about finance and car insurance. Prior to joining CarInsurance.com, she worked as a reporter and editor at the USA Today Network. Her expertise provides readers with practical guidance, helping them make informed choices about their financial and insurance needs.
Ask the Insurance Expert
John McCormick
Editorial Director
John is the editorial director for CarInsurance.com, Insurance.com and Insure.com. Before joining QuinStreet, John was a deputy editor at The Wall Street Journal and had been an editor and reporter at a number of other media outlets where he covered insurance, personal finance, and technology.
Ask the Insurance Expert
Leslie Kasperowicz
Executive Editor
Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at CarInsurance.com.
Ask the Insurance Expert
Nupur Gambhir
Managing Editor
Nupur Gambhir is a content editor and licensed life, health, and disability insurance expert. She has extensive experience bringing brands to life and has built award-nominated campaigns for travel and tech. Her insurance expertise has been featured in Bloomberg News, Forbes Advisor, CNET, Fortune, Slate, Real Simple, Lifehacker, The Financial Gym, and the end-of-life planning service.
Guide to car insurance (with rates) in cities of New York