Best Insurance Companies in New York 2022

November 5, 2021by Grace0
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Are you looking for the best car, business, health and homeowners insurance companies in New York?

Do you want to live your best life while others bear the cost of damages?

What if I told you there are top insurance companies in New York city that are affordable, reliable and offer amazing insurance rates?

Here’s a well listed guide on all you need to know the best companies to insure your properties for New York city residents.

Basically, you do not have to worry because our list is based on detailed research on the company’s financial strength, J.D Power analysis as well as customer satisfaction reviews.

Beyond that we have other research done on the best insurance companies in other states in the USA such as Washington etc.

Simply view the related posts below.

5 Best car insurance companies in New York

Car insurance is the second most important insurance coverage aside from health insurance according to most people. 

In New York, there are many vehicles on the road increasing the chances of accidents occurring.

From our research, we analyzed average premiums of different insurance providers obtained from Quadrant Information Services

Also, we took into consideration the coverages, discounts, policy features as well as the claims satisfaction ratings.

With that, we bring you a list of the best car insurance companies in New York.

#1. USAA

USAA is one of the top-rated independent insurance companies where you can insure your cars.

However, only current and former military members and their families can get an insurance quote from this company.

Despite that, USAA consistently receives high scores.

This simply means that its customers are typically very satisfied with its service. 

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#2. Geico

Next on our list of top car insurance companies in New York is Geico. 

Geico is an insurance provider that offers a comprehensive auto insurance discount program. 

It’s insurance policies help the customers save money. It’s more favourable for federal employees, members of the military who have certain safety features on their vehicle or 5 years accident-free drivers. 

Due to the use of an exceptional mobile app, Geico earned the top spot in the 2021 J.D. Power Digital Experience Study

But we do not recommend this insurance provider for customers looking for customized policies.

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#3. State Farm

This is one of the auto insurance companies that offers customized insurance plans for your cars.

Also, State Farm has other insurance coverage such as homeowners, renters, life insurance and banking services. 

Therefore, it’s the best provider for bundling services. 

Also, they have a widespread agency network scattered across New York city.

However, they have quite a high premium with lots of discounts.

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#4. Progressive

Here’s the cheapest auto insurance company in New York.

Progressive offers insurance rates at a low cost which enables her clients to save more with discounts.

According to the 2021 J.D. Power Digital Experience Study, State Farm ranks second place in the service category.

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#5. Allstate

Last on our list of best car insurance companies in New York is Allstate. 

Insurance with Allstate comes with numerous coverage options that helps you tailor your policy to your needs. 

Also, you can have other coverages such as sound system insurance, rental reimbursement coverage or roadside assistance.

Although last on our list, it has the highest average premium.

Most customers lower their premium by taking advantage of the company’s discounts.

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5 Best Business Insurance Companies in New York

With over 2 million businesses, New York city embodies the American entrepreneurial spirit. 

Little wonder there are lots of small business insurance companies in New York.

Finding the perfect fit for your business can be daunting especially if you want the best.

That’s why we have analyzed the list of business insurance providers in New York.

#1. Hartford

Hartford is an insurance company that specializes in small businesses. 

It offers a lot of discounts for bundling policies with no added fees for monthly payment options.

Many count on Hartford because of the stability in offering services for over 200 years. 

Also, they are ideal for new and old business regardless of the  kind of business insurance or coverage you need.

But on the flip side, they are not the best option for larger businesses.

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#2. Hiscox

Hiscox is a top insurance company in New York that offers coverage for over 180 business professions.

Also, if you need a one-stop shopping insurer, then Hiscox is a logical choice because they offer multiple types of coverage. 

In addition to that, they offer a handy tool to help you personalize your coverage.

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#3. Nationwide

Nationwide is best known to cover the self-employed.

This includes those who do not have a warehouse, showroom or work from home customers.

Nationwide offers package policies that can leave risk-specific gaps. 

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#4. Progressive

Progressive is one of the business insurance companies in New York that allows you to choose coverage based on your budget.

Also, the company allows you to fine-tune your coverage to match the risks for your business. 

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#5. biBERK

biBERK is a Berkshire Hathaway company, so you can expect consumer-friendly coverage. 

It’s top-rated in the list of business insurance companies in New York because of the impressive 4.8 out of 5 stars rating in customer satisfaction.

From analysis, they are best known for easy access and operation. 

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Best Insurance Companies in New York 2022
Best Insurance Companies in New York 2022

5 Best Insurance Companies in New York for Homeowners

For the records, New York is a coastal state on the Eastern Seaboard.

It’s location subjects it to hurricanes, nor’easters, flood, winds and other large storms that can wreak havoc on your home.

And if you live on Long Island or Lower Hudson Valley, your home’s are more at risk.

This sets many New York homeowners in search of insurance companies to secure their home in case of unforeseen circumstances.

To that’s regard, we bring you a list to help you streamline your search. 

#1. NYCM Insurance

The best insurance company for most homeowners in New York is NYCM Insurance. 

While NYCM is not known nationally, it offers low insurance rates for homeowners insurance.

Besides that, they have a wide array of discounts and bundling services that can grant users a 25% total discount on their insurance bundling policies.

Sadly, NYCM has poor customer service reviews but has a financial stability rating of A+ according to AM Best. 

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#2. Travelers

Next on our list of best insurance companies for homeowners in New York is the Travelers.

If you’re on the lookout for a nationally recognised homeowners insurance company then this is it. 

Over the years, Travelers has had unbeatable financial stability and affordable insurance rates.

On the flip side, they have fairly average customer service reviews with a complaint index of 0.48 from the National Association of Insurance Commissioners.

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#3. Narragansett Bay Insurance Company

Narragansett Bay is the best homeowners insurance company for coastal properties.

With a long history of expertise, NBIC is  a good option in Long Island residents and residents of areas susceptible to coastal flooding.

However, NBIC does not offer a variety of insurance products as competing companies. 

And sadly, this is not the best if you’re looking for bundling services. 

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#4. Chubb Insurance

Chubb insurance is one of the best insurance companies in New York that we recommend for high-value homeowners. 

What this means is that if you don’t have a high-end luxury home, Chubb is not the ideal insurance provider for you in New York.

However, they are known for high level financial stability, strong customer service and coverages tailored to high net worth customers. 

Also, they offer a cash settlement option if your home is destroyed and you need cash payment.

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#5. USAA

Last on our list of homeowners insurance companies in New York is USAA.

USAA is known to offer strong home insurance rates, plus military service-specific benefits.

Also, they have excellent customer service and financial stability.

Sad news is that they only offer coverage for active military personnels and their families.

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4 Best Health Insurance Companies in New York

Do you need to insure your health in one of the best health insurance companies in New York?

If you’ve had a hard time finding one, here is a list you can work with;

#1. Fidelis Care

If you’re on the lookout for cheap insurance health plans then this is it. 

With Fidelis Care healthcare plan, you can qualify for both Medicare and Medicaid.

Also, using the Fidelis Care’s Dual Advantage plan, policyholders can bridge the gaps between Medicare and Medicaid at low costs. 

Besides that, Fidelis Care offers affordable private plan options which makes it a top choice for New York residents.

Hence the reason why it’s one of the best health insurance companies in New York.

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#2. Blue Cross Blue Shield: Empire BlueCross

BCBS is another medical insurance company that offers plans through regional companies.

This means that you must look to your regional company for specific policies. 

And that is usually a herculean task.

Although they have an online platform, reaching customer service is usually difficult.

Besides that, BCBS offers coverage in all 50 states of the USA. 

Also, they cover both generic and brand-name drugs with a wide network of doctors, hospitals and specialists.

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#3. United Healthcare

Here’s another top-rated insurance company in our list of best health insurance companies in New York. 

This insurance healthcare provider is ideal for customers who value expansive networks.

Also, they have an affordable HMO plan with other plan choices which could be short term or Medicaid options.

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#4. Univera Healthcare

Another viable option for low-cost health insurance policies is Univera Healthcare.

Univera offers both individual, family and Medicare plans.

Also, they have outlets all around New York. 

Therefore, finding a Univera office wouldn’t be a task. 

Also, all of Univera’s health plans offer free preventive care, including shots, checkups and screenings. 

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Frequently Asked Questions About Best Insurance Companies in New York

What’s the Average Cost of Insurance in New York?

Insurance costs will depend upon factors such as

  • What type of insurance?
  • Who or what has been insured.
  • Duration of insurance
  • Insurance provider
  • Location 
  • Insurance package etc

However, we have analyzed the cost of some strategic insurance policies.

The average cost of car insurance in New York is $2,321 annually for full coverage and $1,062 annually for minimum coverage. 

However, the average cost of business insurance in New York is at about $68 per month.

On the other hand, the average cost of homeowners insurance in New York is $968 per year.

And for health coverage, insurance costs around $440 each month for individual health plans.

However, a family health plan costs around $1,168 per month. 

What are the Insurance Companies I Can Work For In New York?

Are you looking for a job as an insurance agent or staff in New York?

Here’s a list of the best insurance companies you can work for in New York;

  • AXA
  • Travelers
  • New York Life Insurance Company
  • Marsh & McLennan Companies
  • The Guardian Life Insurance Company of America
  • National General Holdings
  • Loews
  • Guy Carpenter & Company
  • Assurant
  • Teachers Insurance & Annuity Association of America
  • AmTrust Financial Services
  • Crystal & Company
  • Arch Capital Group
  • Metroplus Health Plan
  • Mutual of America Life Insurance 
  • Global Atlantic Financial Group
  • Lemonade
  • EmblemHealth
  • New York State Insurance Fund
  • Willis of New York

References

  • https://www.bankrate.com/insurance/car/new-york/ 
  • https://www.benzinga.com/money/best-business-insurance-in-new-york/ 
  • https://www.valuepenguin.com/best-cheap-homeowners-insurance-new-york 
  • https://www.benzinga.com/money/cheap-health-insurance-in-ny/ 
  • https://www.zippia.com/company/best-insurance-companies-in-new-york-ny/ 

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