The Role Of Auto Insurance In New York’s Autonomous Vehicle Testing – Coverage Cat found that Progressive has the cheapest car insurance at around $141 a month. The median New Yorker with auto insurance is $150 per month, or $1,800 per year, while the median New Yorker with progressive insurance pays just $1,692 per year, saving about $108 per year.

My first exposure to insurance and effectively understanding how to use and buy it was 15 years ago when an injury resulted in the loss of two teeth. This experience inspired me to start Coverage Cat to enable people to discover transparent pricing data about their insurance and use that information to make better choices. I want to help all Americans avoid overpaying for expensive coverage they don’t need and get the right coverage at the right price.

The Role Of Auto Insurance In New York’s Autonomous Vehicle Testing

The Role Of Auto Insurance In New York's Autonomous Vehicle Testing

Before founding Coverage Cat and becoming a licensed insurance agent, I spent the last decade in quantitative roles at Google, Two Sigma, and Microsoft.

Most Expensive States For Car Insurance: Where Does New York Rank?

To determine our top picks, Coverage Cat generated a unique database of over 53,000 New York driver quotes. In this dataset, we represent drivers between the ages of 16 and 70, driving vehicles under the age of 15, and from various makes. Using thousands of quotes, we were able to normalize our data and provide a randomly generated median of New York drivers. Internally, we use this and other datasets to match Coverage Cat users with the policies that best suit their needs.

Our data sets are continuously adjusted and presented to you in real time. Specific numbers in this article may vary slightly from the most recent data contained in the above graphic.

If you are a car owner, you need car insurance. Cars in New York require a minimum amount of insurance by law. If you regularly lease or borrow cars, you may also want auto insurance, since it’s cheap and safe to have a non-owners policy that covers your responsibilities.

We prepared that data and wrote this guide for those trying to use it to make smart money choices. Finding the best deal on car insurance isn’t easy because prices and eligibility vary from person to person.

Why Your Education And Job Could Mean You’re Paying Too Much For Car Insurance

Coverage Cat found that Progressive offers the lowest premiums for young 20-30 year-old drivers in New York at about $151/month. For younger drivers, especially those under the age of 25, insurance rates can be much higher due to the higher risk of accidents. The median New Yorker ages 20-30 pays $163 per month ($1,956 per year) for auto insurance and can save $144 per year by buying a cheaper progressive policy.

For female drivers in New York, the median monthly premium on Progressive starts at $153/month. Coverage Cat found that female drivers in New York earn slightly more than male drivers, with a median salary of $162/month. While that’s only $18 more per month than male New York drivers, it adds up to $216 more per year!

For male drivers in New York, the cheapest car insurance quote is Progressive at $136 per month. The median cost for male drivers is only slightly higher at $144/month, but the most expensive carrier (Mercury) costs $2 more per year than Progressive at $508.

The Role Of Auto Insurance In New York's Autonomous Vehicle Testing

Coverage Cat found that the average teen driver in New York between the ages of 16 and 20 pays a much higher premium, about $350 a month. Teenagers are more likely to be involved in accidents than drivers of other age groups, so insurers charge them significantly more.

New York Car Insurance Laws & Requirements (updated 2023)

Teen drivers pay significantly higher premiums for their policies, paying $2,400 more per year than the average New York driver. Parents of teen drivers can often save money by adding them to an existing policy, rather than having the teen buy their own insurance. You can also take advantage of potential discounts by reporting your vehicle’s safety features, such as anti-theft devices and blind-spot detection systems. Teen drivers can also get their own discount if they earn a high degree or enroll in a safe-driving telematics program that monitors their driving habits.

In New York, the legal minimum liability auto insurance is 25/50/10. That means $25,000 in personal injury liability coverage per person, a total of $50,000 in bodily injury liability coverage per accident, and $10,000 in property damage liability coverage. When you’re in an accident, personal injury liability covers medical bills and other expenses for other drivers or their passengers, while property damage covers repairs to other vehicles and/or other people’s physical structures, such as fences or walls.

While minimum liability policies can offer lower premiums, they also may not fully cover the cost of damage or injury in an accident. A collision with an expensive vehicle or a situation where another driver is seriously injured can easily result in losses far exceeding the limits of the minimum liability policy. If this happens, your insurance company is only obliged to pay its limit and you will be responsible for the additional cost.

After you have an accident or receive a ticket in New York, your car insurance premiums may increase because these events increase the driver’s risk to the insurance company. The exact impact on your premium will depend on factors such as the severity of the accident, the type of ticket you received, and your driving record.

New York Car Insurance Laws

If you were at fault in the accident, your insurance company can increase your premiums to cover the cost of the claim, and if the ticket is for a serious violation, such as reckless driving or DUI, your premiums can increase significantly, and your insurance Fees may increase substantially. The company can even choose not to renew your policy.

A: Auto insurance in New York is more expensive than the national average. The National Association of Insurance Commissioners (NAIC) estimates that New York drivers pay 29% more premiums than drivers nationwide. The NAIC 2019 Auto Insurance Database Report estimates the average monthly premium for auto insurance in the U.S. to be $100 and $129 in New York. The average premium in New York is also more expensive than in 47 states except Louisiana and Michigan.

A: According to Coverage Cat, Progressive has the cheapest car insurance in New York at about $141/month, which is less than the median cost of $150/month. However, depending on your insurance needs, insurance from different companies may be cheaper (and better).

The Role Of Auto Insurance In New York's Autonomous Vehicle Testing

A: While Coverage Cat has found that Progressive drivers have lower premiums overall, switching to one company does not guarantee savings. We recommend buying insurance at least every two years, getting multiple quotes, and reassessing your insurance needs each time. If this sounds complicated, try Coverage Cat. We optimize your insurance to meet your needs at the best price.

Who Has The Cheapest Auto Insurance Quotes In New York?

The content of this article is based solely on the opinions and suggestions of the author. It has not been previewed, paid for, commissioned or otherwise endorsed by any of our partners.

Coverage Cat’s analysis uses insurance rate information derived from our own dataset. These rates are publicly sourced and provided for informational purposes only. Your own quote may vary.

I’m Max, a licensed insurance agent and founder and CEO of Coverage Cat. I got involved in the insurance business when I knocked out two teeth in an accident and had to read through tons of insurance papers to get them replaced. Before Coverage Cat, I worked at Google and Two Sigma. Do you feel like your car insurance costs keep going up? In New York, it does. According to the Consumer Federation of America, the average New Yorker’s auto insurance spending has increased by about $570 a year since 1989.

To help you save money, we’ve analyzed the auto insurance rates from 10 of the largest insurance companies in New York to find the cheapest auto insurance.

How Much Does Your Car Insurance Increase When You Add A Teenager To Your Policy?

Of the companies we surveyed, Geico, USAA, and Hanover offer the cheapest rates for good drivers in New York. (USAA is only open to those with a military background, such as active duty military personnel, veterans and their families.)

Of the companies we analyzed, USAA and Hanover offer the best rates for New York drivers who receive speeding tickets.

In New York, a speeding ticket can put anywhere from 3 to 11 points off your driving record. For example, 3 points are added for speeding 1 to 10 mph over the limit. 11 demerit points for speeding 40 mph over the limit. If you earn 6 or more points within 18 months, you will be required to pay at least a $100 New York Driver Liability Assessment Fee. When your insurance company sees the ticket, your insurance rates may go up at renewal.

The Role Of Auto Insurance In New York's Autonomous Vehicle Testing

Speeding tickets will remain on your record until the end of the calendar year after three years.

Buying New Car Insurance: How It Works (2023 Guide)

Hanover and USAA are once again the cheapest options for New York drivers, this time for drivers who cause accidents.

An accident will remain on your record in New York until the end of the calendar year three years later. Unless you have accident forgiveness coverage, your rates may be adjusted after an accident.

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