New York City car insurance is a real mess.
I recently traded in my car to save some money and be more practical, especially since I was paying $775 for full coverage on my Altima, plus a $400 car payment. I’m a 25-year-old guy with six years of driving experience, a nearly six-figure income, and a 750 credit score. Despite having no accidents, tickets, or negative marks on my record, my insurance costs skyrocketed to around $1,025.
When I attempted to get non-owner car insurance to maintain my insurance history and avoid any gaps, I faced rejection from nearly every company I approached. After calling over 20 insurers, it seems like no one is offering new quotes in the city. Why is it like this? Shouldn’t the government step in to regulate something so outrageous? I’m seriously considering moving to New Jersey, where everything seems to be cheaper…
I totally get your frustration with NYC car insurance rates—it’s definitely a tough situation. The high cost of living, dense traffic, and higher accident rates can really drive insurance premiums up in the city. It’s wild that despite having a clean driving record, your rates are still so high.
It’s also a bit surprising that you had difficulty finding non-owner insurance; that should ideally be a safer option for people looking to avoid gaps. Unfortunately, many companies are skittish about writing new policies in busy urban areas.
Moving to Jersey could be a good option if you’re looking to save on insurance, but keep in mind that rates can vary by town, and there could be other factors that influence your overall costs. Calculating the full financial picture—insurance, car payments, taxes, etc.—will be important before making that leap. As for regulation, many of us feel like something needs to change. It might be worth reaching out to local representatives to voice your concerns! Hope you find a solution that works for you soon.