What is the average cost of car insurance in NYC?

New Yorkers average car insurance rate of $2,321 per year for full coverage, which means New York is one of the most expensive states to purchase insurance in.

How much is car insurance in NYC per month?

The average cost of full coverage car insurance in New York is $2,020 per year, or about $168 per month, according to NerdWallet’s analysis. Minimum coverage in New York is $941 per year on average, but we found you can likely get a cheaper policy.

How much is full coverage car insurance NYC?

The average rates for car insurance in New York State is $2,321 per year for full coverage and $1,062 per year for minimum coverage, which are 39% and 88% higher than the national averages, respectively.

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Is car insurance expensive in NYC?

Car insurance in New York is expensive because it’s a no-fault state with a high rate of insurance fraud. … Car insurance in New York is more expensive than the national average, which is around $1,500 annually for full coverage and about $600 per year for minimum coverage.

How much is car insurance for first drivers NYC?

Car insurance for a new driver in New York state costs about $4,200 to $5,500 per year, assuming an individual policy for a 17-year-old.

What is the minimum car insurance in NY?

If your car is registered with the NY Department of Motor Vehicles, your insurance must meet the following New York liability coverage minimums: Bodily injury liability coverage: $25,000 per person and $50,000 per accident. Property damage liability coverage: $10,000 per accident.

What is the minimum car insurance you must have in NYS?

Mandated New York Auto Insurance Coverage

The minimum amount of liability coverage you’ll need: $10,000 for property damage for a single accident. $25,000 for bodily injury and $50,000 for death for a person involved in an accident. $50,000 for bodily injury and $100,000 for death for two or more people in an accident.

How can I lower my car insurance in NYC?

Eight Ways to Lower Car Insurance Rates in NY, PA and Beyond

  1. Be a safe driver. …
  2. Check for a renewal discount or a sign-up discount. …
  3. Choose your car carefully. …
  4. Bundle your insurance policies. …
  5. Improve your credit score. …
  6. Check out the list of discounts. …
  7. Invest in extra safety features. …
  8. Increase your deductible.
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Is it cheaper to pay insurance yearly?

Paying your insurance premiums annually is almost always the least expensive option. Many companies give you a discount for paying in full because it costs more for the insurance company if a policyholder pays their premiums monthly since that requires manual processing each month to keep the policy active.

Is it more expensive to insure a new or old car?

Older cars are cheaper to insure than newer cars, all else being equal. An older vehicle is cheaper to insure mainly because older cars are less valuable, so an insurer won’t have to pay out as much in the event of a total loss.

How much is liability insurance in NY?


Coverage Limits/Level Average Annual Premium
$50K/$100K/$50K Bodily Injury/Property Damage — $500 Comprehensive/Collision $1,786
State Minimum — Liability Only $887
State Minimum — $1,000 Comprehensive/Collision $1,525
State Minimum — $500 Comprehensive/Collision $1,690

Do you need full coverage in New York?

Liability coverage is legally required in New York. This coverage pays for bodily injury and property damage that you cause to another driver or their passengers in an accident in which you are at fault. This coverage can also apply to expenses related to funeral costs, lost wages and pain and suffering.

How much is car insurance in NY for a 25 year old?

Best car insurance companies for 25-year-olds by state

State Average monthly rate
New York $254
Florida $301
Michigan $819
Average $279

How much is car insurance for a 17-year-old in NY?

Average car insurance cost for 17-year-olds by state

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State Average annual full coverage premium increase for 17-year-old males Overall average annual full coverage premium increase
New York $3,629 $3,182
North Carolina** $1,092 $1,078
North Dakota $1,557 $1,351
Ohio $1,704 $1,479

How much is car insurance in NY for a 19 year old?

Best auto insurance for 19-year-olds by state

State Average 19-year-old annual premium
New York $5,437
Texas $5,718
Florida $6,370
Michigan $18,517

Does credit score affect car insurance?

Your credit score is a key part of determining the rates you pay for car insurance. Better credit often gets you better rates, and worse credit makes your coverage more expensive. Poor credit could more than double insurance rates, according to a nationwide analysis of top insurers.