Best Car Insurance Companies in New York for 2023

Best Car Insurance Companies in New York for 2023

1. GEICO: Best Overall Value

Average Annual Premium: $1,200–$1,500
AM Best Rating: A++ (Superior)
J.D. Power Customer Satisfaction (Northeast): 843/1,000

GEICO dominates New York’s auto insurance market with competitive rates, especially for low-risk drivers and those bundling policies. Its straightforward online quoting system, robust mobile app for claims, and 24/7 customer support make it ideal for NYC’s fast-paced lifestyle.

Key Offerings:

• Affordability: Up to 25% discount for safe drivers and federal employees.
• Coverage Add-Ons: Rideshare insurance, rental reimbursement, and mechanical breakdown coverage.
• Digital Tools: Virtual assistant (GEICO’s “Kate”) and AI-driven claims processing.

Cons: Limited local agent network; high premiums for drivers with DUIs.

2. State Farm: Best for Personalized Service

Average Annual Premium: $1,350–$1,700
AM Best Rating: A++
J.D. Power Score: 841/1,000

State Farm’s extensive local agent network (200+ NY agents) offers tailored service, ideal for policyholders who prefer human interaction. Its Drive Safe & Save telematics program rewards low-mileage and accident-free drivers in cities like Buffalo or Syracuse.

Standout Features:

• Teen Driver Discounts: Up to 15% savings for student drivers maintaining a “B” average.
• Gap Insurance: Covers loan/lease balances if a car is totaled.
• Accident Forgiveness: No rate hikes after first at-fault accident (for eligible drivers).

Cons: Slightly higher base rates than GEICO; no rideshare coverage.

3. Progressive: Best for High-Risk Drivers

Average Annual Premium: $1,400–$2,100
AM Best Rating: A+
J.D. Power Score: 827/1,000

Progressive specializes in affordable SR-22 and FR-44 filings for drivers with DUIs, speeding tickets, or lapsed coverage. Its Name Your Price® tool helps budget-conscious New Yorkers customize policies.

Key Benefits:

• Usage-Based Discounts: Snapshot® program monitors driving habits for potential savings (up to 30%).
• Deductible Savings Bank: $50 deducted from your collision deductible annually for accident-free driving.
• Rideshare Coverage: $15/month add-on for Uber/Lyft drivers in NYC.

Cons: Mixed claims satisfaction reviews; rates spike post-claim.

4. Allstate: Best for Comprehensive Protection

Average Annual Premium: $1,600–$2,300
AM Best Rating: A+
J.D. Power Score: 835/1,000

Allstate’s premium coverage options suit New Yorkers seeking enhanced financial security, especially in high-theft areas like Bronx or Brooklyn. Its Accident Forgiveness and Claim Rateguard® protect against premium hikes post-claim.

Advantages:

• Vanishing Deductible: $100 deductible reduction per accident-free year.
• New Car Replacement: Covers brand-new vehicle replacement within first two years if totaled.
• Local Agents: 300+ NY agents for in-person support.

Cons: Among the priciest insurers; discounts require bundling.

5. Liberty Mutual: Best for New Drivers

Average Annual Premium: $1,700–$2,400
AM Best Rating: A
J.D. Power Score: 823/1,000

Liberty Mutual’s extensive discounts and flexible payment plans cater to new or college-student drivers. Its Better Car Replacement® program provides a car one model year newer if totaled.

Notable Perks:

• New Driver Discounts: Up to 10% off for completing driver’s ed.
• Hybrid/Electric Vehicle Discount: 5% savings for eco-friendly cars.
• Accident Forgiveness: Available without a waiting period (in select tiers).

Cons: Premiums rise sharply post-claim; mediocre digital app ratings.

6. USAA: Best for Military Members

Average Annual Premium: $1,100–$1,400 (eligible members only)
AM Best Rating: A++
J.D. Power Score: 881/1,000

USAA offers unbeatable rates and benefits for active/retired military and families in New York. Its affordable premiums, free roadside assistance, and forgiving claims process make it a top pick.

Military-Focused Benefits:

• Garaging Discounts: Reduced rates during deployments.
• DIMP (Dependent Insurance Management Program): Coverage for college students’ out-of-state vehicles.
• No Deductible Glass Repair: Free windshield repairs in Rochester or Albany.

Cons: Limited to military-affiliated customers.

7. Travelers: Best for Bundling

Average Annual Premium: $1,300–$1,800
AM Best Rating: A++
J.D. Power Score: 830/1,000

Travelers excels for homeowners bundling auto + property insurance, offering up to 23% savings. Its IntelliDrive® program tracks safe driving for discounts up to 20%.

Bundling Incentives:

• Multi-Policy Discount: Save 13–23% when combining auto with home/renters insurance.
• Premier Liability Coverage: Up to $1 million in protection for serious accidents.
• Rideshare Coverage: Extended protection during app usage.

Cons: No gap insurance; limited local agents in upstate NY.

Comparison: Quick Facts

Key Considerations for NY Drivers

• Minimum Coverage: New York mandates $25,000/$50,000 bodily injury, $10,000 property damage, $50,000/$100,000 PIP, and uninsured motorist coverage.
• Urban Premiums: NYC drivers pay 30–45% more than upstate residents due to theft/vandalism risks.
• Credit-Based Pricing: NY prohibits insurers from using credit scores to set rates.