Best Car Insurance Near Me - Feeling like your car insurance premiums are going up? Yes, in New York. According to the Consumer Federation of America, New York's average cost of car insurance has risen by $570 a year since 1989.
To help you save money, we've analyzed New York car insurance rates from 10 major insurers to find the cheapest insurance companies.
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Geico, USAA, and Hanover offer the lowest rates for good drivers in New York of the companies we reviewed. (USAA is only open to active duty military personnel, service members, veterans and their families.)
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USAA and Hanover offer the best rates for New York City drivers with speeding tickets among the companies we reviewed.
A speeding citation in New York adds 3 to 11 points to your driving record. For example, going 1-10 miles over the speed limit adds 3 points. Going 40 mph over the limit adds 11 points. If you receive 6 or more points within 18 months, you will have to pay a minimum of $100 for a New York Driver's Liability Assessment. Once your insurer sees a ticket, your insurance rates will go up.
A speeding ticket will remain on your record for three years until the end of the calendar year.
Hanover and USAA again come out as the cheapest contenders for New York drivers, this time for drivers who cause accidents.
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An accident will remain on your record in New York for three years until the end of the calendar year. Without accident waiver insurance, your rates will increase when you recover after an accident.
If you have been cited for an accident-related offense, you may receive points on your driving record. For example, running a red light earns 3 points.
Bad credit will increase your car insurance rate more than a speeding ticket or an accident. With high rates for drivers with bad credit in New York, it's especially important to compare rates between multiple companies.
If you have to add a minor driver to your policy, expect to see an increase of more than $1,000 a year. In our analysis, Allstate and New York Central Mutual have the lowest growth in New York.
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The minimum required auto insurance in New York can be less than $1,000 a year, but be aware of the trade-off: if you cause an accident, you could be sued for something your insurance doesn't cover.
New York is a no-fault insurance state. This means that you claim most of your personal injury claims on your own insurance. To do this, New York car owners must purchase basic personal injury protection (PIP), which costs $50,000.
PIP pays for your "economic" damages after a car accident, regardless of who caused them. It pays for medical bills, 80% of lost wages due to an accident, and up to $25 per day for other necessary injuries, such as transportation. In addition to the $50,000 in basic PIP, there is also a $2,000 death benefit.
When you buy PIP for your car in New York, it covers injuries to the driver and all passengers in your vehicle. PIP also covers pedestrians injured in your car.
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New York also requires liability insurance for personal injury and property damage. So, if you're sued by someone who suffers a "serious" injury, as defined by New York law, your liability insurance will pay for your legal defense and judgment (up to your policy limits). Liability insurance also pays for someone else's damages, such as cutting someone's wall.
New York also requires uninsured motorist (UM) coverage. UM in New York pays for injuries, not just auto damage. UM coverage is available to you if an inattentive motorist is hit or injured in a collision.
The minimum required UM is 25/50 or the amount that meets your liability limits, such as $25,000 per person and $50,000 per accident.
It only covers New York accidents, but you can add an endorsement to extend your UM to out-of-state accidents.
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An unusual variation in New York is the availability of "supplemental spousal liability" insurance. If you cause serious injury or death to your spouse in a car accident, this auto insurance coverage provides coverage.
In particular, this applies if your spouse is suing you for economic losses (medical bills) and for pain and suffering if you were negligent and were seriously injured in a car accident.
Generally, you can't sue your spouse who has the same policy because you can't be held responsible for yourself.
Buying the types of New York auto insurance you only want will leave you with a big gap: your own vehicle. What happens if you get on the train or go back to the post office? What if you drive through a large pond and find that your car is actually 2 feet deep after stopping? What if your car is stolen and you no longer see it?
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For these and other issues, you'll want to contact and provide comprehensive information. It is also caused by fire, vandalism, falling objects, and collisions with animals such as snakes.
Comprehensive car insurance can be more beneficial than you think. According to a recent analysis by AAA Northeast, New York has seen an increase in animal incidents over the past five years. The investigation found 36,445 animal deaths in New York State since 2019, a 10% increase from 2018. That's a crash every 15 minutes.
But if you run over a pigeon or other animal on the road, comprehensive insurance may not be the only coverage you consider. Your PIP insurance may also be important. That's because 1,778 animal crashes in New York state injured passengers, including 12 deaths.
October to December are the worst months for animal collisions, and due to their size and weight, deer can cause the most injuries and damage.
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If you have a high income and assets, consider adding at least $1 million in umbrella insurance. It provides an additional layer of liability beyond auto and home insurance.
If you're facing a costly lawsuit against you due to an auto accident or incident caused by your homeowners insurance, umbrella insurance protects your finances by paying court judgments and settlements after you've brought your primary policy up to your umbrella policy limit.
New York allows you to submit proof of car insurance from your cell phone. If you can't access your insurance card on your phone through your insurer's app, keep a paper copy with you or in your car.
New York City drivers pay an average of $1,302 a year for auto insurance, including those who choose only required coverage and those who purchase high limits. Here are the average premiums for common broadcast types.
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Insurance companies use many factors to calculate rates. It is important to shop around as rates can vary between insurers for the same cover. Your previous insurance claims, driving record, vehicle model and more are used to calculate the price. Companies in New York can also take advantage of these factors.
According to the Insurance Research Council, about 6.1% of New York drivers do not have auto insurance. It has the second lowest uninsured rate in the nation after Maine.
In New York, you can be fined between $150 and $1,500 and/or jailed for up to 15 days if you drive without the required auto insurance. You may also pay a civil penalty.
Geico is by far the largest insurance company in New York, accounting for nearly one-third of the private auto insurance market in New York. By comparison, nationally, Geico has about a 14% share.
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The New York State Department of Financial Services is responsible for regulating insurance companies. If you have a problem that your insurance company cannot resolve, the insurance department can help you or you can file a claim.
We used average quotes from Quadrant Information Services, a provider of insurance data and analytics, to find the cheapest auto insurance companies in New York. Adirondack, Allstate, Erie, Geico, Hanover, New York Central Mutual, Progressive, State Farm, Travelers and USAA were rated for New York.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views and opinions of Inc.
Forbes Advisor is your trusted destination for personal finance advice, news and reviews dedicated to making smart financial decisions easier.
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