The Bronx may be a vibrant and bustling borough of New York City, but maintaining auto insurance in the area can be quite expensive. The average cost of car insurance in the Bronx is $2,502 per year for minimum coverage and $5,271 per year for a full coverage policy. With rates more than triple the national annual average of $1,674 for full coverage, finding the best auto insurance in the Bronx without overpaying for premiums can be a critical part of your financial health.
In June 2021 alone, there were almost 2,000 traffic accidents recorded in the Bronx. Having an auto insurance policy with coverages tailored to your needs could protect you from financial devastation should you cause an accident. Bankrate’s research can help you find the best auto insurance in the Bronx for your situation, along with the appropriate coverages and discounts.
Best Auto Insurance Companies in the Bronx
New York offers a multitude of auto insurance options, and the Bronx is no exception. The best car insurance companies in the Bronx are Progressive, Erie, Geico, and USAA. Bankrate’s editorial team chose these companies by reviewing each carrier’s average rates provided by Quadrant Information Services, customer service and financial strength ratings, coverage options and discounts.
|insurance company||Note from JD Power
(New York area)
|Average annual premium for minimum coverage||Average annual premium for full coverage|
|United States of America*||868/1000||$2,048||$4,126|
*USAA is not eligible for official ranking with JD Power due to eligibility restrictions.
Founded in 1937, Progressive is now the nation’s third-largest auto insurance provider. Not only are there multiple coverage options for almost any budget — which the Name Your Price tool can help you find — but the list of discounts is impressive. Progressive offers a range of savings opportunities, including paperless statements, full payment and multi-vehicle savings.
Learn more: Progressive Insurance Review
Erie is a regional provider that only operates in 12 states, including New York. However, Erie offers coverage options and a wide variety of discounts to rival a national carrier. Although Erie did not score in JD Power’s poll, the local agent network continues to remain popular. Currently, Erie only allows customers to obtain quotes and coverage through a local agent.
Learn more: Erie Insurance Review
Geico is another major carrier, currently ranked the nation’s second-largest provider in terms of car insurance market share. Geico scored slightly below the industry average for customer satisfaction in New York, earning 827 points out of 1,000 in the JD Power survey. However, Geico earns the highest possible rating for financial strength by earning an A++ (superior) rating with AM Best.
Learn more: Geico Insurance Review
USAA offers coverage options for military personnel and their immediate family members. While standard coverage and discounts are offered, there are also several specialized features. For example, parking a vehicle on a military base, storing a vehicle if you are deployed, or being a past customer may qualify for an additional discount.
Learn more: USAA Insurance Review
Cheapest auto insurance in the Bronx
The average cost of car insurance in the Bronx is $2,502 per year for minimum coverage and $5,271 for a full coverage policy. The average cost of auto insurance in New York State is $2,321 per year for full coverage, and the national average full coverage premium is $1,674 per year. When it comes to auto insurance, Bronx drivers pay a much higher premium than drivers in the rest of the country.
Progressive, Erie, Geico, USAA, and Allstate all offer competitive rates that are also below average for the Bronx. However, carriers should also be reviewed based on other factors, such as financial strength and customer service ratings. Each of these five carriers earns at least an A+ (Superior) rating with AM Best, highlighting financial stability. All five offer plenty of customer discounts, though Progressive and Geico are particularly generous with the number on offer.
|insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
Bronx Insurance Requirements
Not only is liability insurance required in New York State, but due to no-fault laws, personal injury protection (PIP) coverage is also required.
the minimum requirements for insurance in New York are:
- Civil liability of $25,000 in bodily injury per person and $50,000 in death per person
- Liability of $50,000 in bodily injury per accident and $100,000 in death per accident
- Civil liability of $10,000 in property damage per accident
- $50,000 Personal Injury Protection (PIP)
- $25,000 motorist bodily injury not insured by law per person
- $50,000 statutory uninsured motorist bodily injury per accident
New York offers two options for uninsured motorist coverage: statutory and supplemental. Statutory coverage is required and only covers accidents within the state limits. Additional coverage is available at minimum or higher limits and also provides out-of-state coverage. Coverage for damage caused by underinsured motorists is also included in the supplemental coverage for uninsured motorists.
Although purchasing the minimum coverage required is often cheaper, it also provides a lower level of financial protection. Most financial and insurance experts recommend carrying higher liability limits. Also, the minimum coverage does not include coverage for damage to your own car. For this you will need full coverage.
Bronx Car Insurance Discounts
Discounts are one of the easiest and most common ways to save on premiums. Finding cheap insurance rates in the Bronx is easier when you take advantage of as many discounts as possible.
- Multi-font: Bundling your auto insurance policy with the same insurer that provides your home, condo, or renters insurance often results in savings on both policies.
- Good student: For full-time high school or college students who maintain at least a B average, a good student discount could be an easy way to save.
- Fully Paid: Paying for a policy in a single payment rather than monthly or quarterly installments is another way to save.
- Automatic payments: Choosing to have your premiums written automatically often results in a discount.
Each company offers different discounts, so reviewing the options online or speaking to a representative may be the best way to uncover savings opportunities.
Frequently Asked Questions
What is the best car insurance company?
The best insurance company is different for everyone. Everyone has unique insurance needs and wants. For example, one driver may be looking for a company with strong digital tools while another may want the lowest possible price. Understanding what you need from your insurance company and comparing quotes from multiple companies can help you find the right options for you.
How much does auto insurance cost in the Bronx?
The average cost of car insurance in the Bronx is $2,502 per year for minimum coverage and $5,271 for a full coverage policy. However, it’s important to remember that rates are highly dependent on personal factors, such as your age, vehicle, annual mileage, driving history, and the coverages you choose.
What is no-fault insurance?
“No Fault” refers to Personal Injury Protection (PIP) coverage. If there is no fault, this coverage is designed to pay for your injuries and other eligible expenses after an accident, regardless of who was at fault. Contrary to the name, fault always exists in faultless states. The driver responsible for an accident is always liable for the payment of the material damage he causes.
Bankrate uses Quadrant Information Services to analyze 2022 rates for all zip codes and carriers in all 50 states and Washington, D.C. Rates shown are based on a 40-year-old male and female with a clean driving record, credit and the following complete information coverage limits:
- Civil liability of $100,000 in bodily injury per person
- Civil liability of $300,000 in bodily injury per accident
- Civil liability of $50,000 in property damage per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 aggregate deductible
To determine minimum coverage limits, Bankrate has used minimum coverages that meet each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week, and drive 12,000 miles a year.
These are sampling rates and should only be used for comparison purposes. Your quotes may be different.