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Cheapest Auto Insurance After a Speeding Ticket in New York

When buying car insurance after a few driving violations, one of the key components that help determine auto insurance rates is where you keep your vehicle in New York. Areas with more people or more claims like New York, Hempstead, and Mount Vernon tend to pay higher rates, whereas areas with less crime or weather claims can boast about having cheaper rates.

The next table sorts the priciest cities in New York after a speeding ticket to buy car insurance in.

Car insurance prices in New York
RankCityAnnual Premium
1New York$2,708
5Mount Vernon$1,938
7West Babylon$1,875
11White Plains$1,629
12New Rochelle$1,627
15West Seneca$1,201
16Niagara Falls$1,201
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Rate information is comparative as specific New York zip code can affect coverage rates significantly.

Trying to buy cheap insurance is confusing at best, and deciding which company quotes the cheapest insurance rates after a speeding ticket calls for a little more work. Each company uses their own method for setting prices, so we’ll take a look at the insurance companies with the most affordable rates in New York.

We do need to point out that New York insurance rates are calculated based on many things that can increase the price you have to pay for coverage. Improving your credit score, marrying your spouse, or getting a driving violation can produce rate changes that may make certain companies affordable when they were higher priced.

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Cheapest New York auto insurance companies
RankCompanyCost Per Year
4Utica National$1,534
9Preferred Mutual$1,686
10New York Central Mutual$1,818
13Central Mutual$1,968
14State Farm$1,982
15Liberty Mutual$2,087
2021st Century$4,455
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USAA normally has some of the most affordable car insurance rates in New York at around $1,152 a year. Erie, Progressive, Utica National, and Allstate also rank well as some of the lowest-priced New York auto insurance companies.

As depicted above, if you buy coverage from Allstate and switched to Erie, you might realize annual savings of roughly $286. Policyholders with Travelers could save as much as $320 a year, and Amica customers might lower prices by $373 a year.

If you want to find out if you’re overpaying, click here or feel free to get quotes from the companies below.

Be aware that those estimates are averages across all types of drivers and the different vehicles they drive and are not factoring in a price decrease after a speeding ticket. So the auto insurance company that fits your needs best may not even be shown in the above rate chart. That’s why you need to get auto insurance quotes using your own driver and vehicle profiles.

The illustration below illustrates how your choice of deductibles can affect yearly insurance costs when researching cheap insurance after a speeding ticket. The prices are based on a single female driver, full physical damage coverage, and no additional discounts are factored in.

The data above shows that a 50-year-old driver could pocket $210 a year by increasing from a $100 deductible up to a $500 deductible, or save $318 by using a $1,000 deductible. Even younger drivers, like the Age 20 category, could potentially save as much as $532 or more by choosing a higher deductible.

When raising deductibles, it will be necessary to have enough savings to enable you to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

Should you buy full coverage?

Finding the cheapest auto insurance after a speeding ticket in New York should be important to the majority of drivers, and a good way to pay lower rates for insurance is to buy liability only. The example below illustrates the difference between insurance prices with full coverage compared to only the New York minimum liability coverage. The data assumes no accidents or driving violations, $100 deductibles, drivers are single, and no policy discounts are applied.

Averaged out for all age groups, physical damage coverage costs an additional $2,074 per year more than just buying liability insurance. That touches on the question if paying for full coverage is a waste of money. There is no definitive formula to stop paying for comp and collision coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.

For example, let’s say your vehicle’s claim settlement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would receive is $2,000 after paying your policy deductible. If it’s costing in excess of $200 a year for your policy with full coverage, then it may be the right time to buy liability only.

There are some conditions where dropping physical damage coverage is not a good plan. If you haven’t satisfied your loan, you have to keep full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not drop full coverage.

Are you paying too much for car insurance in New York?

New York insurance rates are impacted by many factors which can substantially change the price of coverage. Turning one year older, becoming a homeowner, or getting a few speeding tickets may cause policy rate changes that can make some companies cheaper than before. In addition to those changes, insurance companies file new rates as often as every three months as an adjustment for underwriting gains or losses. Larger than normal claims can result in rate hikes, while long-term profits can cause cheaper New York car insurance rates.

As an example, the bar chart below shows which company has the cheapest car insurance in New York for a 35-year-old female driver with no accidents or violations, and great credit. Based on her current situation, USAA has the most affordable car insurance rates in New York at $3,450 a year. This is $1,375 more than the average premium paid by New York drivers of $2,075. Erie, Travelers, Utica National, and Progressive are the remainder of the most affordable New York auto insurance companies.

Now we will give the driver from the first set of rates some claims, a little lower credit rating, and a traffic citation. Since each insurance company uses their own method for setting rates, getting updated rate quotes may result in a new list of the cheapest New York car insurance companies as shown below.

Amica now has the best insurance rate in New York with MetLife, Preferred Mutual, Erie, and USAA now being in the top five. This illustrates why New York drivers need to compare as many rates as possible when trying to find affordable insurance rates after a speeding ticket. Rates can be altered by many risk factors and change frequently, so the best option the last time you compared rates may now be quite expensive.

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