Average car insurance cost in Buffalo, NY

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According to data from Insure.com, the average annual cost of car insurance in Buffalo, New York is $2,125. The auto insurance rates in Buffalo is $255 more than the state average and $230 more than the national average.

Car insurance premiums vary significantly based on where they are filed. Factors such as city demographics, population density and average resident age, accident rates, theft, and vandalism rates will influence the amount of premiums you pay.

This article talks in detail about the most affordable car insurance companies in Buffalo, the average car insurance rates by age and gender, and how much car insurance cost in Buffalo depending on coverage limits. Whether you’re a new driver or an experienced one, this article will help you to find the most affordable car insurance in Buffalo. Keep reading to learn more.

Cheap car insurance companies in Buffalo

Progressive offers the cheapest car insurance in Buffalo, at an average of $999 per year with full coverage limits of 100/300/100.

The second cheapest company in Buffalo is NYCM Insurance, offering car insurance rates at $1,461 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Buffalo before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Buffalo, New York:

Read about the best car insurance companies.

Average car insurance cost in Buffalo by coverage limits

The average car insurance rates in Buffalo based on coverage types are as follows:

• State minimum coverage: $998 per year (limits are 25/50/25)
• Liability only coverage: $1,096 per year (limits are 50/100/50)
• Full coverage: $2,125 per year (limits are 100/300/100)
• Non-owners coverage: $475 per year

In many states, it’s a legal requirement for drivers to maintain the state minimum coverage, although these requirements vary by state. The state minimum coverage does not cover vehicles listed on your policy in an at-fault accident.

To avoid the risk of insufficient coverage and out-of-pocket expenses, it’s advisable to opt for full coverage or non-owner coverage, especially if you frequently borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Buffalo

In Buffalo, New York, the average annual car insurance premium for female drivers is $2,148 per year.

While the average annual cost for male drivers is $2,102 per year, which is $46 less than what female drivers pay, according to a rate analysis by Insure.com.

According to the Insurance Information Institute, statistics demonstrate that women are generally regarded as safer drivers than men. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Buffalo

In Buffalo, car insurance rates are the highest for teens, at $6,115 per year or $510 per month. The rates are higher for teenagers (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road, according to the Insurance Information Institute. There are driving laws for teens to help them drive better. Also, teen insurance rates can be lowered by adding teens to a parent’s auto insurance policy.

Car insurance rates are bound to decrease as teens grow older and earn a good driving record. Young adults pay $3,188 per year for their car insurance which is $2,927 less than what the teens pay for their insurance policy.

The car insurance rates in Buffalo for adult and senior drivers are $2,135 and $2,253 per year respectively.

The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in Buffalo

Examining car insurance rate trends in Buffalo, New York, we observe a downward trend from 2022 to 2023. Subsequently, from 2022 to 2023, the rates experienced decrease overall, with an increase of 1% or $22.

The table below shows the trend for last four years:

Conclusion

Car insurance rates in Buffalo are higher than the average rates in New York. Drivers in Buffalo can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.