Table of Contents
- 1 Best car insurance companies in Bronx
- 2 Cheapest car insurance in Bronx
- 3 Bronx insurance requirements
- 4 Car insurance discounts in Bronx
- 5 Frequently asked questions
- 6 Methodology
The Bronx may be a vibrant, bustling borough of New York, but maintaining car insurance in the area can get quite expensive. The average cost of car insurance in Bronx is $2,502 annually for minimum coverage and $5,271 per year for a full coverage policy. With rates over triple the national annual average of $1,674 for full coverage, finding the best car insurance in Bronx without overpaying for premiums can be a critical piece of your financial health.
Just in June, 2021, there were nearly 2,000 traffic accidents recorded in the Bronx. Having a car insurance policy with coverages that fit your needs could protect you from financial devastation if you cause an accident. Bankrate’s research might help you find the best car insurance in Bronx for your situation, as well as appropriate coverages and discounts.
Best car insurance companies in Bronx
New York offers a multitude of options for car insurance, and the Bronx is no exception. The best car insurance companies in Bronx include 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||J.D. Power score
(New York region)
|Average annual premium for minimum coverage||Average annual premium for full coverage|
*USAA is not eligible for official ranking with J.D. Power due to eligibility restrictions.
Founded in 1937, Progressive now operates as the third-largest provider of auto insurance in the country. 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 an array of savings opportunities, including paperless statements, paying in full 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 provides coverage options and a wide variety of discounts to rival a national carrier. While Erie did not earn a score in the J.D. Power survey, the local agent network continues to remain popular. Currently, Erie only allows customers to obtain quotes and coverage through the use of a local agent.
Learn more: Erie Insurance review
Geico is another large carrier, currently ranked as the second-largest provider in the country based on auto insurance market share. Geico performed slightly below the industry average for customer satisfaction in New York, earning 827 out of 1,000 points in the J.D. Power survey. However, Geico does achieve the highest rating possible for financial strength by earning an A++ (Superior) rating with AM Best.
Learn more: Geico Insurance review
USAA provides coverage options for military personnel and their immediate family members. While the standard coverage and discounts are offered, there are also several specialized features. For example, garaging a vehicle on a military base, storing a vehicle if you are deployed or being a legacy customer can earn you an additional discount.
Learn more: USAA Insurance review
Cheapest car insurance in 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 the state of New York is $2,321 annually for full coverage, and the national average full coverage premium is $1,674 per year. When it comes to car 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 be reviewed based on other factors too, such as financial strength and customer service ratings. Each of these five carriers earns a minimum of an A+ (Superior) rating with AM Best, highlighting financial stability. All five offer numerous customer discounts, although Progressive and Geico are particularly generous with the number offered.
|Insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
Bronx insurance requirements
Not only is liability insurance required in the state of New York, but because of the no-fault laws, personal injury protection (PIP) coverage is also required.
The minimum requirements for insurance in New York are:
- $25,000 bodily injury liability per person and $50,000 death per person
- $50,000 bodily injury liability per accident and $100,000 death per accident
- $10,000 property damage liability per accident
- $50,000 personal injury protection (PIP)
- $25,000 statutory uninsured motorist bodily injury 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 provides coverage only for accidents within state limits. Supplemental coverage is available in minimum limits or higher limits and provides coverage outside of the state as well. Coverage for damage caused by underinsured motorists is also included in supplemental uninsured motorist coverage.
While only purchasing the minimum required coverage is often less expensive, it also provides a lower level of financial protection. Most financial and insurance experts recommend carrying higher liability limits. Additionally, minimum coverage does not include coverage for damage to your own car. For that, you will need full coverage.
Car insurance discounts in Bronx
Discounts are one of the easiest, most common ways to save on premiums. Finding cheap insurance rates in Bronx is easier when you take advantage of as many discounts as possible.
- Multi-policy: Bundling your auto insurance policy with the same carrier 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 might be an easy way to save.
- Paid-in-full: Paying a policy in one lump sum versus in monthly or quarterly installments is another way to save.
- Automatic payments: Choosing to have your premiums automatically drafted often results in a discount.
Every company offers different discounts, so reviewing options online or talking to a representative might be the best way to discover savings opportunities.
Frequently asked questions
What is the best car insurance company?
The best insurance company is different for everyone. Everyone has unique needs and wants when it comes to insurance. For example, one driver might be looking for a company with solid digital tools while another might want the lowest price possible. Understanding what you need from your insurance carrier and comparing quotes from several companies can help you find the right options for you.
How much does car insurance in the Bronx cost?
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 is important to remember rates are highly dependent on personal factors, such as your age, vehicle, annual miles driven, your driving history and the coverages you choose.
What is no-fault insurance?
“No-fault” refers to personal injury protection (PIP) coverage. If no-fault states, this coverage is designed to pay for your injuries and other qualifying expenses after an accident regardless of who was at fault. Contrary to the name, fault does still exist in no-fault states. The at-fault driver in a crash is still responsible for paying the property damage that they cause.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate 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 annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.