How Much is Auto Insurance for Young Drivers in New York?

How Much is Auto Insurance for Young Drivers in New York?

The vehicle to be insured is probably the most important factor when comparison shopping for the best insurance for young drivers. Vehicles with more horsepower, poor crash test ratings, or a high likelihood of having liability claims will cost substantially more to insure than more modest models. The list below shows car insurance costs for a selection of the more afforable automobiles to insure in New York.

Cheapest Auto Insurance Rates for Young Drivers in New York
Vehicle Insured Estimated Cost for Full Coverage
Ford Escape XLS 2WD $1,983
Honda CR-V EX-L 4WD $2,005
Chevrolet Traverse LS AWD $2,029
Honda Accord EX-L 4-Dr Sedan $2,151
Toyota Prius $2,175
Subaru Forester X Limited Edition AWD $2,197
Ford Explorer Eddie Bauer 2WD $2,211
Ford Edge SEL AWD $2,335
Chevrolet Equinox LS AWD $2,357
Chevrolet Malibu LS $2,365
Jeep Grand Cherokee Laredo 4WD $2,357
Toyota RAV4 Limited 4WD $2,365
Hyundai Tucson Limited 4WD $2,357
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Table data assumes single female driver age 17, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in specific location information which can revise prices substantially.

Looking at the rates, you can see that models like the Ford Escape, Honda CR-V, Chevrolet Traverse, and Honda Accord are most likely going to be a few of the less-costly vehicles to insure for youthful drivers. Car insurance rates will be more costly because of the fact that there is more claim exposure for young drivers, but in general those makes and models will most likely have the best rates compared to all other vehicles.

When shopping for insurance for youthful drivers, one of the many considerations that control car insurance rates is where your car is garaged. Urban areas that are densely populated like New York, Hempstead, and Mount Vernon tend to have more expensive car insurance rates, whereas areas that tend to be more rural tend to receive cheaper rates.

The next table rates the priciest cities in New York for young drivers to purchase car insurance in.

How much is auto insurance in New York?
Rank City Annual Premium
1 New York $2,735
2 Freeport $2,281
3 Hempstead $2,233
4 Levittown $2,061
5 Mount Vernon $1,997
6 Yonkers $1,978
7 Brentwood $1,929
8 West Babylon $1,913
9 Hicksville $1,843
10 Coram $1,784
11 New Rochelle $1,676
12 White Plains $1,661
13 Buffalo $1,488
14 Niagara Falls $1,237
15 West Seneca $1,225
16 Cheektowaga $1,216
17 Tonawanda $1,201
18 Utica $1,136
19 Syracuse $1,119
20 Troy $1,095
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Prices are approximated as the vehicle garaging location can affect premium rates greatly.

Full coverage or liability only

Finding cheap car insurance for young drivers in New York is probably important to most drivers, and one good way to save on the cost of insurance is to not pay for full coverage. The illustration below shows the comparison of auto insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in New York. The data assumes no violations or claims, $1,000 deductibles, single marital status, and no discounts are applied to the premium.

If averaged out across all ages, comprehensive and collision coverage on your policy costs an additional $1,488 per year over and above liability only. That is a large expense which might make you wonder when is the right time to remove full coverage. There is no exact rule to delete physical damage insurance, but there is a broad guideline. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

For example, let’s say your vehicle’s settlement value is $12,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $11,000 after paying your policy deductible. If premiums are more than $1,100 a year to have full coverage, then it might be time to consider dropping full coverage.

Find cheap car insurance for young drivers in New York

The list below details some of the recommended penny-pinching ideas that can help New York drivers get cheap coverage.

  • Save money by bundling your home and auto policies
  • Drive vehicles with five-star safety ratings
  • Claim-free drivers earn discounts
  • Remove physical damage coverage on older vehicles
  • Raise deductibles to save money
  • Better credit scores save money
  • Compare rates regularly and switch companies to save money

That last tip is certainly valuable, as we emphasized in this article. Prices charged by car insurance companies can change in a short period of time, so don’t be hesitant to buy a different policy if a more affordable rate is found. Many consumers stick with the same company and that’s fine, but it isn’t a good idea if your bullheadedness ends up costing you money that could be going to better use. It only take a few minutes to compare prices to find cheaper insurance for young drivers.