Car insurance rates are going up everywhere, but NY is one of the worst in US

From syracuse.com

Published: Jan. 15, 2025, 11:08 a.m.

New York is already one of the most expensive states in the nation for car insurance and rates are going even higher in 2025.

New Yorkers can expect an average increase in car insurance rates of 13.5% this year, according to a new report from ValuePenguin, an online insurance comparison site that is part of Lending Tree. New York’s average rate increase is the fourth-highest in the nation for 2025.

Stock photo. (Robert Lowdon | Getty Images)Robert Lowdon | Getty Images

The state’s increase for this year is actually an improvement over 2024, according to ValuePenguin. New Yorkers saw an average rate increase of 16.9% last year.

There is also large variation across insurers, ValuePenguin found. Among the seven biggest car insurance companies in the state, the site found a 181% price difference in prices.

Progressive and NYCM had the lowest rates, while Geico and Allstate had the highest, ValuePenguin said.

Nationally, car insurance premiums will rise an average of 7.5% in 2025. It’s the seventh straight year premiums will go up, but this year’s hike is down from 16.5% in 2024.

A total of 49 states will see average rates increase at least 3%, according to ValuePenguin.

New York’s average annual premium for full coverage car insurance was $3,916 as of this month, according to Bankrate. That was the third-highest figure in the U.S. and 48% above the national average.

Florida was No. 1 at an average of $4,171 a year and Louisiana was No. 2 at $3,978.

New York’s average annual premium for minimum coverage was $1,685 as of this month, No. 1 in the nation.

Idaho was the cheapest state for car insurance this month with an average annual full coverage premium of $1,454. That’s 45% below the national average, according to Bankrate.

Vermont was No. 2 at $1,470.

Average premiums are based on a 40-year-old driver with a clean driving record and good credit, Bankrate said.