NYCM Auto Insurance Review (2024)

New York Central Mutual has been offering home and auto insurance for over 100 years. Coverage is only available to New York residents, but it’s an excellent option for drivers looking for cheap car insurance in NY.

According to J.D. Power, NYCM Insurance has the best value and the highest customer satisfaction rating among New York auto insurance companies. Keep reading to compare NYCM rates and learn more about its coverage options.

What You Should Know About NYCM Insurance (New York Central Mutual)

A property and casualty insurance provider with over 800 employees, NYCM is based in the heart of New York. VanNess DeMar Robinson launched the business in 1899 and continues to offer the same exceptional security and service that NYCM Insurance was founded on more than a century ago.

NYCM’s management comprises the fifth generation of its founders. With an extensive knowledge of New Yorkers’ needs and lifestyles, NYCM is poised to continue its reign as a top-notch auto and property insurance company for years to come.

A.M. Best Rating

NYCM Insurance is a top option for NY drivers as it received an overall “A” rating from A.M. Best.

Due to its lengthy history, broad product offering, and cooperation with independent insurance agents, NYCM Insurance has developed a strong reputation as a dependable and stable insurance provider.

Complaint Level

Of the top New York insurance giants, NYCM has the lowest NAIC ratio of any of them at 0.32. The low number means fewer customer complaints.

NYCM Insurance (New York Central Mutual) Insurance Coverage Options

NYCM offers the following types of auto insurance:

• Liability auto insurance. Pays for property damage and bodily injury to others if you cause an accident.
• Personal injury protection (PIP) coverage. Covers medical bills, rehabilitation costs, lost wages, and household care costs if you’re injured and unable to work after an accident.
• MedPay. Covers medical bills and rehabilitation costs if you’re injured in an accident.
• Uninsured motorist coverage (UIM). Helps cover your injuries or property damage caused by another driver with no insurance, insufficient insurance, or a hit-and-run-driver.
• Collision auto insurance. Pays for damages to your vehicle after a covered accident or collision.
• Comprehensive auto insurance. Pays for damages to your vehicle caused by falling objects, inclement weather, vandalism, fire, or theft.

Because New York is a no-fault insurance state, you are required to carry a minimum amount of PIP and UIM. Learn more about no-fault auto insurance and how it raises NY insurance rates.

On top of the standard coverage above, drivers can also buy these additional coverage options:

• Basic Economic Loss, Optional (OBEL). You are entitled to an NYCM payout for loss of income if you were hurt in a no-fault accident. The typical upper limit is $2,000 monthly for 36 months. However, the $50,000 maximum payment can be used before the 36-month period has passed.
• Supplemental uninsured motorist protection. The $25,000 per person and $50,000 per accident limits on New York’s uninsured motorist coverage are only valid within the state. For more information, contact NY Mutual car insurance about supplemental uninsured motorist coverage.
• Rental car reimbursement. NYCM sells auto insurance for rental cars if your vehicle is damaged and undergoing repairs. The business collaborates with Hertz and Enterprise. Call NYCM customer service at 800-234-6926 to learn more.
• Roadside assistance. Roadside assistance coverage is available through NYCM in three different tiers — Basic ($7 yearly), Choice ($10 annually), and Choice Plus ($15 annually). Although they have varying restrictions, they all offer locksmith services, flat tire repairs, battery jump starts, and emergency gasoline and liquid delivery.

If you choose to add these coverages, your NYCM auto insurance rates will increase.

NYCM Insurance (New York Central Mutual) Insurance Rates Breakdown

New York auto insurance rates are more expensive than average at $250 per month. Fortunately, based on a 40-year-old driver with a clean driving record, the average cost to insure with NYCM stands around $225 monthly.

This is more expensive than the national monthly average of $140 but cheaper than other companies in New York. For a driver with a speeding ticket conviction or at-fault accident, NYCM rates still exceed the national average by around 40% and 10%, respectively.

NYCM tends to price younger drivers added to an existing policy at 40% cheaper than the national average.

NYCM Rates Breakdown

Here’s how New York Central Mutual car insurance compares to its competitors:

Auto Insurance Monthly Rates by Coverage Level and Provider

As you can see, GEICO, State Farm, and Allstate edge out NYCM on price alone. However, NYCM has much higher customer satisfaction.

NYCM Insurance (New York Central Mutual) Discounts Available

NYCM offers extensive auto insurance discounts to customers. Some examples include:

• Electronic Funds (EFT) Discount and Auto-Pay. Customers who pay with an automatic withdrawal from a chosen checking, savings, or credit card account may be eligible for up to a 2.5% electronic funds (EFT) discount, also known as an auto-pay discount.
• Driver Education Discount. Drivers under 21 are eligible for the appropriate driving training discount after successfully completing a driver education course.
• Student-Away-at-School Discount. Available for students aged 24 or younger who are away at school at least 100 miles from where the vehicle is normally garaged and don’t use it regularly.
• Accident Prevention and Defensive Driving. Earn a 10% discount after completing a course, which can be taken completely online at your own pace.
• Airbag/Automatic Passive Restraint. You can save up to 30% on the MedPay and Personal Injury Protection (PIP) if your car comes with motorized safety belts and one or more airbags.
• Daytime Running Lamps. Earn up to 3% for this safety feature.
• Anti-Theft Systems. Earn up to 25% off for alarms, passive and active disabling devices, tracking transponders, and etched VIN in car windows.
• Coupler/Combination Discount. Combine your renters or home insurance with your auto company to save as much as 20%.
• Home Ownership Discount. Earn 2.5% off for owning a home, mobile home, or condo.
• New Vehicle. Earn up to 30% off for a newly titled vehicle on an auto policy.
• Senior Discount. Policyholders 65 and older can earn up to 5% for having NYCM insurance for over five years.
• Good Student Discount. With transcripts proving a “B” average or higher, a student may be eligible for a 10% discount.
• Paid-in-Full Discount. Earn up to 10% for paying your balance ahead of time

Find out how many NYCM auto insurance discounts you qualify for to determine if the amount results in overall savings vs. the competition.

How NYCM Insurance (New York Central Mutual) Ranks Among Providers

Going just off the price, NYCM is more expensive than most of its competitors. However, it boasts a phenomenal customer satisfaction rating which may matter more to some consumers, according to NYCM insurance reviews.