The Role Of Auto Insurance In New York’s Rideshare Industry – Coverage Cat found that Progressive has the cheapest car insurance with premiums of about $141 a month. While the average New Yorker pays $150 a month or $1,800 a year for car insurance, the average New Yorker with a Progressive policy pays just $1,692 a year, saving about $108 a year.
I first discovered how to effectively use and purchase insurance over 15 years ago when I lost two teeth due to an injury. This experience inspired me to start Coverage Cat to empower people to discover transparent pricing information about insurance and use that information to make better choices. I want to help all Americans avoid overpaying for unnecessarily expensive insurance and get the right coverage at the right price.
The Role Of Auto Insurance In New York’s Rideshare Industry
Prior to founding Coverage Cat and becoming a licensed insurance agent, I spent the last 10 years working in digital at Google, Two Sigma, and Microsoft.
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To determine our top picks, Coverage Cat has created a unique database of over 53,000 quotes for New York drivers. In this dataset, we represented drivers aged 16 to 70, driving vehicles up to 15 years of age, and drivers of various brands. By using thousands of citations, we can normalize our data and provide an average of randomly generated New York drivers. Internally, we use this data set and others to match CoverCat users with the best coverage for their needs.
Our data sets are constantly adjusted and presented to you in real time. The specific numbers in this article may differ slightly from the latest information in the chart above.
If you own a car, you need car insurance. By law, automobiles in New York require a minimum amount of insurance coverage. If you regularly rent or borrow your car, you may need auto insurance because it’s cheaper and safer to have a non-owner policy that covers your liability.
We’ve compiled this data and written this guide for people trying to make smart money choices using data. Finding the best deal on car insurance isn’t easy, as rates and eligibility vary from person to person.
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Coverage Cat found that Progressive had the lowest premiums for young New York drivers in their 20s and 30s, at about $151. Young drivers, especially those under the age of 25, are at a higher risk of accidents and therefore have higher insurance rates. The average New Yorker in their 20s and 30s pays $163 a month ($1,956 a year) for car insurance, and could save $144 a year by buying a cheaper Progressive policy.
The lowest average monthly premium for female drivers in New York was $153 per month on Progressive. Coverage Cat Female drivers in New York earn slightly more than male drivers, with an average pay of $162 per month. That’s only $18 a month more than male drivers in New York, but adds up to $216 a year!
The cheapest car insurance quote for male drivers in New York was $136 a month at Progressive. The average cost for male drivers was $144 per month, slightly higher, but the most expensive carrier (Mercury) was $2,508 more per year than Progressive.
New York teen drivers between the ages of 16 and 20 pay about $350 a month in premiums and more, Coverage Cat found. Teen drivers are more likely to be involved in an accident than any other age group, so insurance companies charge these drivers much higher.
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Teen drivers pay significantly higher premiums on their policies, $2,400 more per year than the average New York driver. Parents of teen drivers can often save money by adding on their existing policy rather than having their teen purchase their own insurance policy. 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 get discounts if they get high academic scores or participate in a safe driving telematics program that monitors their driving habits.
In New York, the legal minimum auto liability is 25/50/10. That means $25,000 per person in bodily injury coverage, $50,000 per accident, and $10,000 in property damage coverage. Bodily injury liability pays for the medical and other expenses of the other driver or their passengers when you’re involved in an accident, while property damage covers repairs to other vehicles and/or someone else’s physical structure, such as a fence or wall.
A minimum liability policy may offer lower premiums, but may not cover the full cost of damages or injuries caused by an accident. A collision with an expensive car or serious injury to another driver can cost far more than the minimum liability policy limit. If this happens, your insurance company will only be responsible for paying the limit and you will be responsible for the additional costs.
After being in an accident and getting a ticket in New York, your car insurance premiums may increase because these events increase the risk to insurance companies for drivers. The impact on your premiums depends on factors such as the severity of the accident, the type of ticket you received, and your driving record.
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If you were at fault in the accident, your insurance company may increase your premiums to cover the cost of the claim, and if the ticket is for a serious offense such as reckless driving or DUI, your insurance premiums may increase significantly. The company may choose not to renew your policy.
Answer: New York car insurance is more expensive than the national average. The National Association of Insurance Commissioners (NAIC) estimates that New York drivers paid 29 percent more in premiums than drivers nationwide. The NAIC’s 2019 Auto Insurance Database Report estimated that the average monthly auto insurance premium was $100 in the United States and $129 in New York. New York’s average premium is more expensive than 47 states except Louisiana and Michigan.
A: According to Coverage Cat, Progressive has the cheapest car insurance in New York, with premiums of about $141, which is $150 below the average monthly cost. Depending on your insurance needs, your insurance may be cheaper (and better) with another company.
A: Coverage Cat generally finds that Progressive drivers’ premiums are lower, but switching to one company doesn’t guarantee savings. We recommend that you shop for insurance, get multiple quotes, and reevaluate your insurance needs at least every two years. If that sounds complicated, try Coverage Cat. We optimize your insurance to meet your needs at the best price.
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The content of this article is based solely on the opinions and recommendations of the author. It has not been previewed, paid for, commissioned or otherwise endorsed by any of our partners.
Scope Cat’s analysis used insurance rate data from our dataset. These prices are obtained from the public and should be used for informational purposes only. Your own quotes may vary.
I’m Max, a licensed insurance agent and the founder and CEO of Coverage Cat. I lost two teeth in an accident and started looking for insurance after reading thousands of insurance documents to replace them. Before Coverage Cat, I worked at Google and Two Sigma. Rachel graduated from Bodin College with a BA in English. He has worked as a Featured Writer in the insurance industry and has developed an in-depth knowledge of insurance laws and rates across states and countries. His research and articles help readers understand how to find insurance coverage and savings. His expert advice on insurance has been featured on PhotoEnforced, All…
Jeffrey Johnson is a legal writer focusing on personal injury. In addition to her experience in family, property and criminal law, she has also worked in personal injury and sovereign immunity matters. He received his J.D. from the University of Baltimore and has worked in law enforcement and nonprofit organizations in Maryland, Texas, and North Carolina. She also holds an MFA in Screenwriting from Chapman Univer…
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Our content is not influenced by insurance industry partnerships. Our opinions are our own. Enter your ZIP code on this page using our free quote tool to compare quotes from many different companies. The more quotes you compare, the better your chances of saving.
Editor’s Note: We are a free online resource for anyone looking to learn more about auto insurance. Our goal is to be an objective, third-party source for all things auto insurance. We update our site regularly and all content is reviewed by car insurance experts.
Insurance is mandatory in New York, as in most states. One thing that may surprise you is the average car insurance quote in New York
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