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What Is The Most Affordable Car Insurance in New York?

What Is The Most Affordable Car Insurance in New York?

If you live in the Big Apple, you might know that auto or car insurance is the priciest in the state. Yes, New York has the most expensive car insurance rates in all of America. You can look for auto insurance in Long Island or Brooklyn, there are many companies that give you good insurance but with high rates.

So, it almost becomes a responsibility to look for car insurance that is affordable. The affordability factor depends on your budget but I’ll tell you what is the most affordable of them all. We will look through parameters of liability, full coverage and accident history to determine who truly offers the most affordable insurance in New York.

But before I list some of the most affordable insurance companies for you, let us first discuss why you so direly need car insurance. I’ll also discuss the parameters so that you can understand the affordability better. So, let’s go!

Why Do You Need Car Insurance?

Car insurance is of prime importance in many cases. By paying some premium every month, you ‘insure’ your car. This ensures that in case of any emergency like an accident, car theft, or even a speeding ticket, the insurance company will reimburse your damages. 

Depending on your insurance plan, you can get full coverage for your damages or some amount of it. This helps you save a lot of money from your own pocket. In many cases, if you’re in an accident, the insurance company reimburses the other party. This saves you from paying for the damages, if you’re at fault that is. 

So, you see it’s kind of important to get your car insured. Now, that is out of the way, let’s get back to comparing insurances and see which one is the most affordable in New York.

Most Affordable Car Insurance In New York

There are so many parameters for car insurance that it’ll be night by the time I finish comparing all of them. So, let’s do a comparison parameter wise and then you can decide what parameter suits you the best. 

  • Minimum Liability

If you are taking liability insurance, this means your company will pay for the damages and the injuries for the other party in case of an accident. Minimum liability means you have to pay a small amount of premium. 

When it comes to minimum liability insurance, Progressive is the most affordable in all of New York. I have listed all the other companies that are affordable as well. So, it is for you to decide which fits you best.

But I must tell you. You may have to pay a low premium to a minimum liability but it won’t cover the cost of all the damages if there’s an accident with expensive damages. You might have to pay a lot of money from your own pocket. 

Insurance Company NY Monthly Rate Annual Rate
Progressive $61 $732
Geico $81 $976
State Farms  $84 $1011
Travelers $121 $1457
Allstate $137 $1630
  • Full Coverage

Full coverage doesn’t cover one but many of your troubles. It is a combination of many coverage categories. Here is a list of things full coverage car insurance covers;

  • Injury Liability
  • Property Damage Liability
  • Uninsured Motorist Injury and Damage Liability
  • Collision Coverage
  • Comprehensive Coverage

Injury liability covers the cost of medical bills of the injuries or the death incurred time of the accident. Property damage liability covers the cost of repairing the property you damaged at the time of accident. 

Uninsured motorist injury and damage liability are actually two different covers. They cover the medical bills and the repair cost of an uninsured motorist. Collision coverage covers the cost of repair for your car in case of accident. Lastly, comprehensive coverage covers repair costs for weather damages, car theft, or vandalism, etc.

Progressive insurance peaks as the most affordable in the full coverage category as well. Let’s also see the rates of the other companies as well. 

Insurance Company NY Monthly Rate Annual Rate
Progressive $111 $1335
State Farms  $153 $1833
Geico $185 $2225
Travelers $236 $2835
Allstate $251 $3008
  • Accident History

It’s hard to find good insurance when you have been in an accident. The rates go up when you have accident history. Even though the rates are high, Progressive is still the most affordable among the companies. See for yourself and compare the rates with the other companies to get a better understanding of it all.

Insurance Company NY Monthly Rate Annual Rate
Progressive $177 $2119
State Farms  $183 $2200
Travelers $301 $3611
Geico $320 $3840
Allstate $344 $4133

Progressive also has the most affordable insurance when it comes to insurance after speeding tickets and DUI. 

You can also compare the prices of the best car insurance companies in the market and get the best price for yourself.

Car insurance In New York

So, after comparing all the categories, Progressive comes as the victor when it comes to affordable car insurance in New York. It is always best to get the car insurance that suits your needs the best. I hope you found this article helpful.

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