New York is already one of the vital costly states within the nation for automobile insurance coverage and charges are going even greater in 2025.
New Yorkers can anticipate a mean improve in automobile insurance coverage charges of 13.5% this yr, according to a new report from ValuePenguin, a web based insurance coverage comparability web site that’s a part of Lending Tree. New York’s common charge improve is the fourth-highest within the nation for 2025.
The state’s improve for this yr is definitely an enchancment over 2024, in response to ValuePenguin. New Yorkers noticed a mean charge improve of 16.9% final yr.
There may be additionally massive variation throughout insurers, ValuePenguin discovered. Among the many seven greatest automobile insurance coverage corporations within the state, the positioning discovered a 181% value distinction in costs.
Progressive and NYCM had the bottom charges, whereas Geico and Allstate had the very best, ValuePenguin mentioned.
Nationally, automobile insurance coverage premiums will rise a mean of seven.5% in 2025. It’s the seventh straight yr premiums will go up, however this yr’s hike is down from 16.5% in 2024.
A complete of 49 states will see common charges improve a minimum of 3%, in response to ValuePenguin.
New York’s common annual premium for full protection automobile insurance coverage was $3,916 as of this month, according to Bankrate. That was the third-highest determine within the U.S. and 48% above the nationwide common.
Florida was No. 1 at a mean of $4,171 a yr and Louisiana was No. 2 at $3,978.
New York’s common annual premium for minimal protection was $1,685 as of this month, No. 1 within the nation.
Idaho was the most cost effective state for automobile insurance coverage this month with a mean annual full protection premium of $1,454. That’s 45% beneath the nationwide common, in response to Bankrate.
Vermont was No. 2 at $1,470.
Common premiums are primarily based on a 40-year-old driver with a clear driving document and good credit score, Bankrate mentioned.
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