- New York government car insurance for low-income drivers
- New York minimum car insurance requirements
- Best low-income car insurance in New York
- Cheapest low-income car insurance in New York
- Car insurance discounts for low-income drivers in New York
- Methodology
- Low-income car insurance in New York: Frequently asked questions
- Compare low-income car insurance rates in New York with other states
New York government car insurance for low-income drivers
There is no government-run car insurance program for low-income drivers in New York. Only a handful of states (California, Hawaii and New Jersey) have such a program.
In New York, low-income drivers must still carry the minimum amount of car insurance. The best way to find it on a budget is to shop around.
New York minimum car insurance requirements
The minimum car insurance requirements in New York are as follows:
| Minimum liability coverage limits | 25/50/10 |
| Average annual premium | $731 |
| Other types of insurance required (if any) | UIMBI, UMBI and PIP |
Remember that if you have a loan on your car, you're required to carry full coverage, which includes collision and comprehensive.
Best low-income car insurance in New York
NYCM Insurance came out on top as the best pick for low-income car insurance.
People on a tight budget still deserve great service from their car insurance company. We gathered the data on the top car insurance companies in New York and compared them on rates for state-minimum coverage, financial stability and customer satisfaction based on J.D. Power and National Association of Insurance Commissioners (NAIC) scores.
These are the best low-income car insurance companies in New York.
| Company | Average annual premium | J.D. Power | AM Best | NAIC | Insurance.com score |
|---|---|---|---|---|---|
| NYCM Insurance | $420 | 842 | A | 0.22 | 3.66 |
| Erie Insurance | $575 | 845 | A | 0.61 | 3.25 |
| Geico | $555 | 821 | A++ | 0.91 | 2.93 |
| Progressive | $428 | 818 | A+ | 0.65 | 2.9 |
| State Farm | $885 | 826 | A++ | 0.7 | 2.75 |
| The Hanover | $1,016 | 835 | A | 0.6 | 2.68 |
| Allstate | $861 | 819 | A+ | 0.65 | 2.51 |
| Travelers | $1,362 | 821 | A++ | 0.49 | 2.27 |
Cheapest low-income car insurance in New York
Based on state-minimum coverage, we found that the cheapest car insurance company in New York is NYCM Insurance at an average rate of $420 a year.
When you're working with a tight budget, price is the number one consideration. We gathered rates from car insurance companies in New York to find the cheapest options on average.
| Company name | Average annual premium | Average monthly premium |
|---|---|---|
| NYCM Insurance | $420 | $35 |
| Progressive | $428 | $36 |
| Geico | $555 | $46 |
| Erie Insurance | $575 | $48 |
| Allstate | $861 | $72 |
| Chubb | $872 | $73 |
| State Farm | $885 | $74 |
| The Hanover | $1,016 | $85 |
| Travelers | $1,362 | $114 |
| USAA | $594 | $50 |
PEOPLE ASK:
What can I do if I can't afford car insurance in New York?
If you can't find affordable car insurance in New York, try working with a local agent who knows the market and some of the smaller insurance companies available. Consider a usage-based program to reduce costs, reduce coverage, drive less and ask about additional discounts.
Car insurance discounts for low-income drivers in New York
Discounts are the best way to bring down your car insurance rates. There are a number of discounts low-income drivers in New York can take advantage of for cheaper insurance. Take a look at some common discounts and how much you can save below.
| Discount type | % Discount |
|---|---|
| Years Licensed | 20% |
| Loyalty - Years Renewal With Company | 20% |
| Primary Use | 14% |
| Years Insured | 13% |
| Multi Policy | 10% |
| Payment Type | 10% |
| Homeowner | 10% |
| Profession | 9% |
| Marital Status | 9% |
| Lower Annual Mileage | 9% |
| Telematics | 8% |
| Education | 8% |
| Daily Commute | 8% |
| Days Advanced Purchase | 6% |
| Days Per Week Driven | 6% |
| Electronic Funds Transfer | 3% |
| Paperless/Electornic Documents | 3% |
| Safety Devices | 3% |
| Air Bags | 3% |
| Anti-Theft Device | 1% |
Methodology
Insurance.com commissioned car insurance rates from Quadrant Data Services in late 2023 for state minimum car insurance policies across all states. Rates are based on a 40-year-old driver with a clean driving record and good credit, driving a Honda Accord LX. We compared rates from 170 companies across 35,488 ZIP codes.
Low-income car insurance in New York: Frequently asked questions
What is the cheapest car insurance company for low-income people?
In New York, NYCM Insurance is the cheapest car insurance company with the average rate of $420. However, that's based on average rates and may differ for you, so it's important to shop around.
Does New York have car insurance for low-income individuals?
No, New York doesn't offer a car insurance program for low-income individuals or families.
What happens if I can't pay my car insurance?
If you don't pay your car insurance bill, your car insurance will be canceled and you won't have coverage. If you can't pay your car insurance bill, contact your insurance company before the bill is past due to see if you can make arrangements for payment.
Compare low-income car insurance rates in New York with other states
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