So who has the cheapest auto insurance in New York? Good question.
Getting cheap car insurance in New York is easier said than done. Being one of the most commercial states in the country means that insurance can be pretty pricey. The best way to get car insurance here at a low price is to shop around and compare prices as much as you can. Remember that premium rates can change significantly at different companies and in different cities. The same limits applied to from the same address at GEICO and Progressive, for example, would yield different results. Shop around for your own auto insurance quote New York before taking any steps towards signing a policy.
Minimum Requirements for Auto Insurance in New York
As with most of the states in the US, you are legally required to have car insurance. This includes liability, personal injury, and uninsured motorist coverage on the policy. Without one of these three, you are technically an illegal driver. This could subject you to huge fines if you’re pulled over or involved in an accident. The minimum for car insurance in the state of New York is a 50/50/50 policy, or $50,000 liability, $50000 personal injury, and $50000 uninsured motorist coverage.
Although the minimums are pretty low, it is highly recommended that you get insured for a higher coverage. The last thing you need is for yourself to be involved in a collision for which your insurance covers barely a quarter of the cost. You have to pay anything left over out of pocket, which can be a pretty hefty amount.
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Who Has The Cheapest Auto Insurance in New York – List of Companies
New York is one of the most commercialized and urban states in the country. New York City is full of insurance providers big and small. Outside in cities like Albany, Buffalo, and Binghampton, the rates reduce a little. In the big cities, the rates are usually higher, as is expected from insurance companies. If you’re looking for cheap car insurance in New York, though, you’ll usually find a good deal at one of these five insurers. Remember that all the findings that follow here are in no way an indication of the experience you will have at your own car insurance provider. Always get a quote before you buy an insurance policy or commit to a provider.
GEICO, State Farm, Progressive Insurance, Erie Insurance, and Nationwide are the cheapest car insurers in New York. This holds true across all the major and minor cities. Regardless of whether you’re a good driver, a young one, or whatever else, these are the five that will give you the best prices. They also offer multiple discounts to add to your insurance premiums after sorting out the coverage.
Categories of Drivers and the Cheapest Insurance
On average across the state, good drivers with no accidents, drunk driving fines, or tickets to their name enjoy the cheapest rates at GEICO insurance. With premiums at about $1000 or slightly higher each year, this was the best possible deal. Progressive was close behind at about $1300 a year for a good driver.
If you’re in your 20s, you’re a young driver. Rates for young drivers with good records across New York were once again cheapest at GEICO. Traveler’s insurance, which interestingly did not make the top five, was also the second cheapest in this category. This is another reason why you should get your own quotes – the unpredictability of insurance premiums.
For drivers who have been involved in an accident before, GEICO offers some great deals. It is still higher than the typical insurance policy because of your accident. The average was about $1200 a year for insuring someone with an accident history. Progressive was also in the mix at about $1300 a year for the minimum policy.
One place where Progressive Insurance takes the lead over GEICO is for drivers with bad credit history. This usually results from a bad financial state that has lasted for a while. Progressive can get your quotes down to about $1500 a year and GEICO is just slightly higher than this. Other insurance companies go over $2500 a year, so you should be very careful indeed.
The cheapest category across the board in New York is drivers over 60. If you’re retired or fall into the senior driver category, GEICO lowers your rates to about $800 a year, which is pretty great. You do have to qualify without an accident history at most of these places.
Additional Discounts in New York
Companies like GEICO and Progressive also offer discounts. These can be for anti-theft devices, good grades, and even for the installation of qualimetrics devices in your smartphone or car. You can also be eligible for discounts based on your location, driving record, age, and more. Remember to shop for quotes as much as you can to get the best possible rate for auto insurance in New York. If you want the best coverage and cost isn’t an issue you should look into full coverage auto insurance.