01.26.2026 New York Drivers Pay Fourth-Highest Auto Insurance Costs in the Nation, Triple-I Finds
MALVERN, Pa., Jan. 26, 2026 — New York households paid an estimated $1,935 on average for personal auto insurance in 2024, the highest level on record for the state and the fourth-highest expenditure nationwide, according to the Insurance Information Institute’s (Triple-I’s) latest Outlook, New York Personal Auto Insurance Premium and Cost Drivers.
Triple-I estimates New Yorkers allocated 2.23% of median household income to personal auto insurance in 2024, up from $1,753 (2.15%) in 2023, when New York already ranked as the fourth least affordable state for auto insurance as a share of income.
Recent reform proposals, including strengthening insurer anti-fraud programs, limiting damages for individuals engaging in unlawful behavior or who are at fault in an accident, lowering the serious injury threshold, and leveraging technology, could make meaningful positive changes to the cost of insurance.