NYCM Insurance Review
NYCM is an excellent choice for auto and home insurance in New York because of its low rates and great customer service.
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Editor's Rating
Is NYCM a good insurance company?
New York Central Mutual Insurance Co. (NYCM) is a great option for many New Yorkers. It has affordable home and auto insurance rates and excellent customer service. In addition, NYCM's many discounts can help make your insurance even more affordable.
The main downside to NYCM is its lack of home insurance coverage add-ons. While it offers enough coverage for most people, it may not be the best choice for people with expensive homes looking for upgraded protection.
In addition, NYCM doesn't offer online quotes. You'll have to contact a local agent to compare rates. However, NYCM's affordable coverage means it's probably worth the extra work to get a quote.
Editor's rating | |
|---|---|
| Price | |
| Coverage | |
| Customer service | |
| Unique value |
Pros and cons of NYCM insurance
Pros
Cheap auto and home insurance
Highly rated customer service
Lots of discounts
Practical car insurance coverage add-ons
Cons
Only available in New York state
Can't compare quotes online
Few coverage extras for home insurance
NYCM car insurance review
NYCM is an excellent choice for New York drivers.
It has very affordable rates, lots of discounts and enough coverage options for most people.
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NYCM auto insurance quotes
NYCM has some of the cheapest car insurance rates for New Yorkers.
At around $111 per month, full coverage insurance from NYCM costs $79 per month less than the New York state average. Progressive is the only company with cheaper rates, at around $100 per month. However, NYCM's policy comes with extra coverage that most companies charge for.
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Liability-only coverage from NYCM costs $40 per month, on average. That's less than half the state average, and the cheapest option in the state.
NYCM insurance quotes vs. competitors
Full coverage
Liability-only coverage
Company | Monthly rate | |
|---|---|---|
| Progressive | $100 |
| NYCM | $111 |
| Nationwide | $182 |
| State Farm | $205 |
| Geico | $216 |
*USAA is only available to military members, veterans and eligible family members.
Full coverage
Company | Monthly rate | |
|---|---|---|
|
| Progressive | $100 |
|
| NYCM | $111 |
|
| Nationwide | $182 |
|
| State Farm | $205 |
|
| Geico | $216 |
*USAA is only available to military members, veterans and eligible family members.
Liability-only coverage
Company | Monthly rate | |
|---|---|---|
|
| NYCM | $40 |
|
| Progressive | $55 |
|
| Nationwide | $84 |
|
| Geico | $100 |
|
| State Farm | $116 |
*USAA is only available to military members, veterans and eligible family members.
NYCM also has great rates for teens and people with an at-fault accident on their record.
Minimum liability rates for teens
$69/mo
$277/mo
Full coverage rates for teens
$194/mo
$554/mo
Rates after an accident
$134/mo
$243/mo
New York Central Mutual car insurance discounts
In addition to its low rates, NYCM offers all of the car insurance discounts you would expect from a major insurance company.
- Bundle discount
- Autopay discount
- Homeowner discount
- Claim-free discount
- Defensive driving discount
- Vehicle equipment discount
- New car discount
- Senior discount
- Driver training course discount
- Good student discount
- Student away at school discount
NY Central Mutual car insurance coverage
Basic policies from NYCM come with more coverage than most car insurance companies include.
For example, NYCM includes $100 of coverage for personal belongings, like cellphones or laptops, at no additional cost.
And if you have a policy with comprehensive coverage, NYCM includes rental car reimbursement. This coverage pays for a rental car after a crash, and most companies charge extra for it.
In addition, NYCM offers a few ways to upgrade your car insurance policy with extra protection, like new car replacement and roadside assistance. However, it doesn't offer some popular coverage add-ons, like gap insurance.
New car replacement pays extra to help you buy a brand-new car if your new car is totaled in a crash.
New car replacement with NYCM is unusual because it's available on cars up to 3 years old. Most companies only offer this coverage for cars up to 1 year old.
Roadside assistance helps you get back on the road if your car breaks down while driving.
NYCM offers three different roadside assistance packages. All packages include basic services like a flat tire change, battery jumpstart, fuel and fluid delivery, and locksmith services. They also include towing, but the distance varies by package.
Income replacement, or optional basic economic loss (OBEL), helps cover lost income if you can't work after a crash.
Your personal injury protection (PIP) covers a small amount of lost income, but this helps replace a larger portion of your income.
Original equipment manufacturer (OEM) coverage pays to fix your car using parts from the original manufacturer, instead of less expensive aftermarket parts.
This coverage is helpful if it's important to you that your car is fixed using the best possible parts. For example, if you're in a crash and your built-in touch screen is damaged, OEM coverage will replace it with a brand-new touch screen from your car manufacturer.
NYCM also offers all of the basic protection required by New York state. This includes bodily injury and property damage liability coverage, along with personal injury protection (PIP).
NYCM classic car coverage
NYCM is partnered with Hagerty to offer car insurance for classic and collector cars.
Classic car insurance is different from regular car insurance because you work with the insurance company to come up with an agreed-upon value for your car if it's ever totaled in a crash. In comparison, standard car insurance covers vehicles based on their fair market value, which includes wear and tear.
NYCM home insurance review
NYCM has cheap home insurance quotes and lots of discounts to help you lower your bill even further.
However, there aren't many ways to upgrade your coverage.
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NYCM homeowners insurance quotes
NYCM's home coverage is the most affordable option for most people in New York state.
Home insurance from NYCM typically costs around half the New York average, regardless of how much coverage you need
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NYCM quotes by dwelling limit
$200,000
$350,000
$500,000
$1 million
Company | Monthly rate | |
|---|---|---|
|
| NYCM | $35 |
|
| State Farm | $58 |
| Farmers | $60 |
| Sterling | $65 |
|
| Nationwide | $72 |
$200,000
Company | Monthly rate | |
|---|---|---|
|
| NYCM | $35 |
|
| State Farm | $58 |
|
| Farmers | $60 |
|
| Sterling | $65 |
|
| Nationwide | $72 |
$350,000
Company | Monthly rate | |
|---|---|---|
|
| NYCM | $43 |
|
| Sterling | $92 |
|
| Farmers | $93 |
| Plymouth Rock | $98 |
|
| State Farm | $102 |
$500,000
Company | Monthly rate | |
|---|---|---|
|
| NYCM | $56 |
|
| Plymouth Rock | $121 |
|
| Sterling | $128 |
|
| Farmers | $137 |
| Kingstone | $141 |
$1 million
Company | Monthly rate | |
|---|---|---|
|
| NYCM | $122 |
|
| Plymouth Rock | $205 |
|
| Sterling | $240 |
|
| Nationwide | $289 |
|
| Kingstone | $294 |
NYCM homeowners insurance discounts
NYCM offers plenty of ways for homeowners to save on their insurance. This includes a few less-common discounts, like its work from home discount and retirement discount.
- Multipolicy discount
- Claim-free discount
- Homebuyer discount
- Work from home discount
- Retirement discount
- Protective device discount
- Gated community discount
- Renovation discount
- Green home discount
NYCM home insurance coverage
NYCM only offers a few extra coverages to increase the protection for your home.
However, it doesn't have popular coverage options like water backup coverage, which pays for damage caused by backed-up pipes, sewers and sump pumps.
Otherwise, NYCM offers typical home insurance coverage, including dwelling, liability and loss of use.
NYCM Insurance reviews
NYCM has excellent customer service reviews, which means its customers are typically happy with the company.
NYCM reviews
- Car insurance complaints: 96% fewer than expected
- Home insurance complaints: 87% fewer than expected
- J.D. Power auto insurance customer survey: 4th out of 11
- AM Best financial strength: "A" or Excellent
NYCM gets far fewer complaints than an average company its size, according to the National Association of Insurance Commissioners. NYCM car insurance gets 96% fewer complaints than expected, while its home insurance gets about 87% fewer complaints than average.
J.D. Power also gave NYCM a great score on its auto insurance customer satisfaction survey. In the New York market, NYCM placed fourth among 11 other car insurance companies. Only Travelers, State Farm and USAA earned better scores.
NYCM customers don't have to worry about the company's ability to pay claims. NYCM earned an "A" or Excellent financial strength rating from AM Best. That means the company shouldn't have an issue paying customer claims, even in difficult financial times.
Frequently asked questions
What does NYCM Insurance stand for?
NYCM stands for New York Central Mutual Fire Insurance Co. NYCM is an insurance company offering car, home, umbrella and renters insurance across New York state.
Is NYCM Insurance legit?
Yes, NYCM is a legitimate insurance company. It has an A or Excellent financial strength rating from AM Best and a great score on J.D. Power's auto insurance customer satisfaction survey. It also offers some of the cheapest insurance rates in New York.
How much is NYCM car insurance?
NYCM car insurance costs an average of $111 per month for a full coverage policy and $40 per month for a minimum liability policy. That makes NYCM one of the cheapest car insurance companies in New York.
What is the rating of NYCM homeowners insurance?
NYCM Insurance earned 5 stars from ValuePenguin. Its home insurance is very affordable, and the company gets very few customer complaints, according to the National Association of Insurance Commissioners. NYCM also has an A or Excellent financial strength rating from AM Best.
Methodology
To find the cost of car insurance from New York Central Mutual Insurance Co., ValuePenguin collected rates for a 30-year-old man with a clean driving record and good credit score who owns a 2015 Honda Civic EX.
NYCM car insurance quotes for full coverage include comprehensive and collision coverage along with higher liability limits than required in New York state.
- Bodily injury liability: $50,000 per person and $100,000 per accident
- Property damage liability: $25,000 per accident
- Uninsured and underinsured motorist bodily injury: $50,000 per person and $100,000 per accident
- Personal injury protection: $50,000
- Collision and comprehensive coverage: $500 deductible
To find the cost of home insurance from NYCM Insurance, ValuePenguin gathered rates from 12 of the largest insurance companies in New York across more than 150,000 addresses. Rates are for a 45-year-old married man with good credit and no prior insurance claims.
Quotes include the following coverage limits:
- Dwelling coverage: $200,000, $350,000, $500,000 or $1 million
- Personal liability: $100,000
- Medical payments: $5,000
- Deductible: $1,000
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurance company filings and should be used for comparative purposes only. Your own quotes may be different.
To calculate our ValuePenguin editor's rating, our editors considered cost, availability of coverage options, customer service reviews and overall value provided to customers.
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.