Buffalo boasts a lively nightlife scene and stands out for its impressive architectural achievements, featuring the second-largest collection of Frank Lloyd Wright homes in the United States.
Fortunately, having the right level of auto insurance coverage can mitigate the potential hardships that may arise in the aftermath of a collision.
What is the typical cost of auto insurance in Buffalo?
Car insurance in Buffalo, New York averages $1,111 for six months, about $185 monthly.
NYCM is the cheapest, charging $467 for a six-month policy based on our 2024 data.
Buffalo residents pay more than the national average ($880) but slightly less than New York’s average ($1,085).
39% of Buffalo customers are unhappy with their current car insurance costs.
If you’re in a similar situation or want to understand rate factors, keep reading for Buffalo car insurance details.
Certainly! Here’s the information presented in a table format:
| Comparison of Car Insurance Costs in Buffalo and New York | Average 6-Month Premium |
|---|---|
| Buffalo Average | $1,111 |
| New York Average | $1,085 |
Top Affordable Auto Insurance Providers in Buffalo
1st Place: NYCM
Claiming the gold medal for the most budget-friendly car insurance in Buffalo is New York Central Mutual Fire Insurance Company (NYCM).
Established in 1899 and headquartered in central New York, NYCM offers the lowest rates, coming in at approximately $78 per month or $467 for a six-month policy.
2nd Place: Progressive
Securing the silver medal on our list is Progressive, the second most economical choice for Buffalo residents.
Progressive’s rates stand at $110 per month or $661 for a six-month policy.
3rd Place: GEICO
Earning the bronze medal in our lineup of cost-effective auto insurance providers is GEICO.
GEICO’s Buffalo policies are priced at $831 for a six-month period, equivalent to $155 per month.
Key Insights on Car Insurance in Buffalo by The Zebra:
- The average car insurance rate in Buffalo, NY, amounts to $1,111 for a six-month policy, translating to $185 per month.
- The most affordable car insurance company in Buffalo is NYCM, offering coverage at $78 per month.
- New York mandates drivers to carry UMPD (Uninsured Motorist Property Damage) and PIP (Personal Injury Protection) coverage.
- A notable 39% of The Zebra’s Buffalo customers opted for our services to explore better rates, expressing dissatisfaction with their current auto insurance expenses.
Buffalo Car Insurance Rates by Company
According to our 2024 data, NYCM stands out as the most affordable car insurance company in Buffalo, offering full coverage at $78 per month or $467 for a six-month policy.
Progressive takes the second spot for budget-friendly options, with rates of $110 per month or $661 for a six-month policy.
For more insights into top-rated car insurance companies, check out The Zebra’s Customer Satisfaction Survey.
Cheapest Car Insurance Companies in Buffalo, NY
| Company | Avg. 6 Mo. Premium |
|---|---|
| New York Central Mutual Fire | $467 |
| Progressive | $661 |
| GEICO | $831 |
| Erie | $870 |
| USAA | $1,077 |
| Allstate | $1,208 |
| State Farm | $1,687 |
Average Car Insurance in Buffalo Based on Rating Factors
Rating factors are specific details about you as a driver that influence your insurance costs. While most companies consider similar factors, their weightage may vary.
For instance, one company might emphasize your credit score, while another places greater importance on your driving habits and claims history.
As your life evolves, your car insurance needs change too.
The company that suited you in your 20s may not provide the best rate and protection in your 50s.
We recommend obtaining new quotes annually or when significant life events occur, such as reaching a milestone birthday or a change in marital status.
Q: My insurance is increasing, but I haven’t had an accident. Why?
A: End-of-year earnings, comparing premiums collected to the cost of settling claims, influence your car insurance costs in Buffalo.
Despite seeming unrelated to your actions, good drivers may see higher rates with a particular company because the overall cost of doing business has risen in Buffalo. Insurance providers adjust rates to accommodate increased expenses.
Auto Insurance Premiums by Age in Buffalo
Age is a crucial factor in determining car insurance rates. Insurance companies assess data to gauge how likely drivers are to have accidents.
Teen drivers, with the highest accident rate, pay the highest premiums in Buffalo.
The rate gap between teens and those in their 20s in Buffalo is $2,169, the most significant difference between any two age groups.
Although this may be unexpected for young drivers and their parents, it’s a business necessity.
Companies charge higher rates for riskier drivers to offset increased claims costs.
Fortunately, these elevated costs for teens typically decrease with a good driving record, resulting in more affordable rates in the near future.
Most Affordable Auto Insurance Options for Low Credit Scores in Buffalo, NY
| Company | Avg. 6 Mo. Premium |
|---|---|
| GEICO | $1,013 |
| New York Central Mutual Fire | $1,072 |
| Erie | $1,808 |
| USAA | $2,036 |
| Allstate | $2,260 |
| State Farm | $3,693 |
| Progressive | $4,697 |
Explore the most economical car insurance choices tailored for individuals with less-than-ideal credit in Buffalo, NY.
The provided average six-month premiums highlight the affordability of these options for drivers facing credit challenges.
Post-Accident Auto Insurance Costs Surge Unexpectedly
- At-fault accidents and collisions top the list of common insurance claims.
- Buffalo drivers facing an at-fault accident can see insurance payments rise by $76 to $409 per month.
- NYCM stands out as the most budget-friendly insurer for post-accident coverage.
Tips to Keep Rates Low:
- Prioritize safe driving to maintain affordable rates.
- Traffic violations like speeding or reckless driving can lead to rate hikes lasting several years.
- Severe infractions like DUI or DWI can impact rates for up to five years.
- Despite $76 monthly seeming manageable, the three-year cumulative penalty approaches $3,000.
Cheapest Car Insurance Companies After At-Fault Accident in Buffalo, NY
| Company | Avg. 6 Mo. Premium |
|---|---|
| New York Central Mutual Fire | $601 |
| Progressive | $880 |
| GEICO | $1,194 |
| Erie | $1,340 |
| USAA | $1,363 |
| Allstate | $1,654 |
| State Farm | $2,318 |
Car Insurance Rate Increases After Violations and Citations in Buffalo, NY
| Accident/Violation | Avg. 6 Mo. Premium | % Rate Increase | $ Rate Increase |
|---|---|---|---|
| None | $1,111 | 0% | $0 |
| One Med/PIP claim | $1,111 | 0% | $0 |
| One comp claim | $1,122 | 1% | $11 |
| Two Med/PIP claims | $1,130 | 2% | $19 |
| Two comp claims | $1,136 | 2% | $25 |
| Not-at-fault accident | $1,136 | 2% | $25 |
| Failure to show documents | $1,150 | 3% | $39 |
| Failure to wear a seat belt | $1,153 | 4% | $43 |
| Child safety restraint | $1,165 | 5% | $54 |
| Driving without lights | $1,165 | 5% | $54 |
| Driving with expired registration | $1,168 | 5% | $57 |
| Texting while driving | $1,183 | 7% | $72 |
| Failure to stop at a red light | $1,183 | 7% | $72 |
| Wrong way/wrong lane | $1,183 | 7% | $72 |
| Following too closely | $1,183 | 7% | $72 |
| Cell phone violation | $1,183 | 7% | $72 |
| Failure to yield | $1,183 | 7% | $72 |
| Illegal turn | $1,183 | 7% | $73 |
| Improper passing | $1,183 | 7% | $73 |
| At-fault accident – less than $1000 | $1,187 | 7% | $76 |
| Passing school bus | $1,188 | 7% | $77 |
| Driving too slowly | $1,198 | 8% | $87 |
| Speeding in school zone | $1,205 | 8% | $94 |
| At-fault accident – $1000-$2000 | $1,206 | 9% | $95 |
| Speeding 6 – 10 MPH over limit | $1,225 | 10% | $114 |
| Speeding 11 – 15 MPH over limit | $1,225 | 10% | $114 |
| Operating a vehicle without permission | $1,276 | 15% | $165 |
| Open container | $1,289 | 16% | $178 |
| In 65 MPH zone | $1,302 | 17% | $191 |
| Speeding 16 – 20 MPH over limit | $1,341 | 21% | $230 |
| Speeding 21 – 25 MPH over limit | $1,388 | 25% | $277 |
| At-fault accident – greater than $2000 | $1,520 | 37% | $409 |
| Reckless driving | $1,638 | 48% | $528 |
| Racing | $1,650 | 49% | $539 |
| Driving with a suspended license | $1,745 | 57% | $634 |
| Leaving scene of an accident/hit and run | $1,829 | 65% | $718 |
| Refusal to submit to a chemical test | $1,833 | 65% | $722 |
| DUI | $1,844 | 66% | $733 |
Why Car Insurance in Buffalo is Expensive
Car insurance costs in Buffalo may appear high due to various factors.
The local cost of living plays a role, as it impacts business operational expenses.
Factors such as coverage level, credit history, and driving record also influence rates. Some factors, like your location, are beyond your control, while others, such as your driving habits, can be managed.
The prevalence of uninsured drivers in Buffalo, approximately 32%, poses an additional risk, leaving responsible drivers vulnerable to potential damages in the event of an accident.
Considering Buffalo’s weather risks and the likelihood of weather-related claims, insurance companies may adjust rates accordingly.
Location
The specific neighborhood within a city significantly influences insurance rates. Variations in crime rates and the prevalence of uninsured drivers can cause rate disparities by ZIP code. Safer areas generally incur lower costs compared to higher-risk areas.
Expensive Buffalo ZIP codes: 14204, 14202, 14211, 14203, 14208 Cheap Buffalo ZIP codes: 14219, 14226, 14228, 14221, 14224
Weather Risk
Weather-related damage claims pose challenges for insurance companies, and Buffalo’s exposure to extreme weather conditions can contribute to increased operational costs.
Comprehensive coverage, encompassing incidents like hurricanes, flooding, and wildfires, becomes crucial in protecting against natural disasters.
Drivers
Despite Buffalo not being the largest city, its volume of drivers can lead to increased accidents, resulting in higher overall costs for insurers.
The risk of collisions with uninsured drivers, around 32% in Buffalo, adds an additional layer of potential financial responsibility for insured drivers.
Zebra Tip: Carry uninsured property damage coverage
New York mandates drivers to carry uninsured motorist coverage (UMPD), providing protection in cases where an underinsured or uninsured driver causes damage.
UMPD typically carries a lower deductible than collision coverage, minimizing the financial impact in the event of a claim.
Bundling Insurance Policies in Buffalo
Bundling home or renters insurance with auto insurance is a simple strategy to counter rising car insurance prices.
This approach can lead to potential savings of 10% or more by combining premiums. In Buffalo, NYCM offers competitive rates for bundled policies, but many insurance companies provide discounts for bundling.
Cheapest Car Insurance Companies for Bundling Home and Auto Insurance in Buffalo, NY
| Company | Avg. 6 Mo. Premium |
|---|---|
| New York Central Mutual Fire | $378 |
| Progressive | $622 |
| GEICO | $748 |
| Erie | $778 |
| USAA | $1,077 |
| Allstate | $1,095 |
| State Farm | $1,404 |
| Updated: 01/09/24. |
Various factors contribute to your individual insurance rate, some beyond your control.
However, proactive measures such as comparing rates regularly and maintaining safe driving practices can help keep premiums as low as possible.
Shopping around for quotes from multiple companies, especially when experiencing life changes, birthdays, or relocations, ensures you find an affordable rate that aligns with your coverage needs and budget.
Embrace change when needed and explore options to optimize your auto insurance expenses.
Also read: Cheap Car Insurance San Jose
Frequently Asked Questions
- What is the cost of car insurance in Buffalo?
- The average six-month auto insurance policy in Buffalo is $1,111, equivalent to $185 per month. This surpasses both the national and New York state averages.
- Which company offers the cheapest car insurance in Buffalo?
- New York Central Mutual provides the most affordable rates in Buffalo, averaging $467 for a six-month policy ($78 per month).
- How much do teenagers pay for car insurance in Buffalo?
- Teenagers in Buffalo face expenses exceeding $3,500 for a six-month policy or approximately $600 per month. To alleviate costs, we recommend adding young drivers to their parents’ policies.