NYCM Insurance Review

While NYCM is an affordable option for homeowners insurance, the company's car insurance may be too expensive for those who don't qualify for any discounts.


Editor's Rating

Auto insurance from New York Central Mutual Insurance Company (NYCM) is a strong option for drivers who qualify for many of the company's available discounts. The insurer states that customers can take a maximum of 55% off of the cost of auto insurance by qualifying for discounts. However, for those who aren't eligible for discounts, NYCM's auto coverage is more expensive than that of its competitors.

For those who can't get NYCM car insurance for a cheap premium, the company's coverage options won't make it particularly enticing, either. Besides the forms of coverage that lawmakers require, NYCM's offerings are sparse. However, its highly rated customer service may make it worth the cost for shoppers who prioritize more than price.

The home insurance available with NYCM is a great option for many homeowners. It was the most affordable insurance provider for most people. Additionally, policyholders can save money on the cost of coverage by qualifying for discounts. While NYCM home insurance doesn't have many extra features, the insurer does offer some useful ways to strengthen regular policies.

Good for
  • Saving money with auto and home insurance discounts
  • Getting highly rated customer service
  • Adding practical home insurance endorsements
Bad for
  • Maximizing auto insurance protection with a range of extra features
  • Finding the cheapest quotes for auto insurance without discounts

NYCM car insurance review

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Quotes for NYCM Insurance

For drivers who don't qualify for any of the insurer's discounts, NYCM car insurance is more expensive than average.

The cost of NYCM car insurance was higher than average for both minimum and full coverage in New York. Additionally, for drivers with one accident on their record, the insurer was among the most expensive providers. For minimum coverage in New York, NYCM was 31% more expensive than average, while for full coverage its rates were close to 40% higher than the Empire State's mean.

Drivers who do qualify for NYCM's discounts may be able to reduce the price of coverage drastically. However, Geico and State Farm are typically far cheaper than the insurer on average, meaning even those who significantly lower their rates may not be incentivized to choose NYCM for coverage.

A bar graph showing the average costs of NYCM car insurance
A bar graph showing the average costs of NYCM car insurance

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Insurance provider
Full coverage
One accident
State Farm$545$984$1,180

Discounts available with NYCM

NYCM gives its auto insurance policyholders many chances to qualify for discounted rates. Shoppers can cut their rates by a maximum of 55%, though customers don't have to be eligible for every one of NYCM's discounts in order to meet this threshold. Moreover, many customers won't have a problem qualifying for more than one discount.

Drivers could save on their NYCM car insurance by:

  • Electing to pay their premiums electronically
  • Taking a driver safety training course
  • Having an insured child who's away at school
  • Owning a car with airbags or other safety features, like anti-lock brakes or anti-theft devices
  • Equipping a car with daytime running lights
  • Bundling an auto policy with another form of insurance
  • Owning a home
  • Paying their policies in full
  • Being over the age of 65
  • Maintaining a B grade point average
  • Having a clean insurance history

NYCM Insurance coverages

NYCM doesn't offer a wide array of extra coverage features on top of a standard, legally required auto insurance policy.

The coverage that comes with a typical NYCM policy aligns with what's usually offered by other auto insurance companies. With NYCM, drivers can get all of the required forms of car insurance, such as bodily injury and property damage liability coverage, along with personal injury protection (PIP) — which is required by New York state.

This form of coverage pays for one's injuries regardless of who's at fault after an accident. Personal injury protection also reimburses temporarily lost wages to injured drivers. NYCM's extra income replacement add-on allows drivers to extend the eligibility period for reimbursements.

Additionally, policyholders can choose to add supplemental income replacement and roadside assistance. The roadside assistance that NYCM offers covers drivers up to 100 miles from their home address. NYCM's roadside assistance includes 24-hour towing services, along with fuel delivery, lock-out aid, tire changes and help with a car's dead battery.

NYCM home insurance review

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NYCM homeowners insurance quotes

Unlike its car insurance, NYCM's home coverage was the most affordable option for most people. Shoppers could find coverage that was 37% cheaper than the average cost of homeowners insurance in New York. For those who qualify for any of the company's discounts, NYCM could be a great bargain.

A bar graph showing the average costs of NYCM home insurance
A bar graph showing the average costs of NYCM home insurance

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Insurance provider
Annual rate
NYCM Insurance$610
State Farm$1,580

Discounts available with NYCM homeowners insurance

NYCM gives its policyholders a few ways to save money on their home insurance. Property owners could save money by:

  • Carrying multiple forms of insurance with NYCM
  • Purchasing a home within the last 12 months
  • Working from home
  • Being retired
  • Replacing the home's roof or heating system
  • Remaining claim-free
  • Owning a certified-green home
  • Living in a gated community
  • Installing protective devices throughout the home

NYCM home insurance coverage

There are few additional forms of coverage available with NYCM, but the options that it does offer are practical supplements to a standard insurance policy.

NYCM offers the same conventional forms of coverage — dwelling, liability, loss of use — that its competitors do. While the company only offers a couple of types of additional coverage, the insurer's extra features are practical additions for most homeowners.

Policyholders have the choice of adding utility line coverage, which pays for repairing or replacing underground piping or wiring. This includes water or sewage lines, along with electrical power hookups and communications connections. Additionally, NYCM provides extra protection for appliances, which is not typically included in regular home insurance policies. This endorsement can repair damage to entertainment systems, kitchen and laundry appliances, computers and more.

NYCM Insurance reviews

For its home and auto insurance, NYCM has a solid reputation for customer service.

According to the National Association of Insurance Commissioners (NAIC), NYCM receives far fewer complaints than the median insurer for both its auto and home products. NYCM car insurance receives about one-fifth of the complaints expected, while the insurer's home coverage only receives about 6%.

J.D. Power also rated the company well compared to competitors. In the New York market, NYCM placed third among 10 other providers of car insurance. Moreover, the insurer was one of four providers to be ranked above the statewide average for satisfaction. Only State Farm and Geico performed better in the survey.

Complaint Index - auto0.22
Complaint Index - home0.06
J.D. Power surveyAbove average
A.M. Best Financial Strength RatingExcellent


We compared rates for New York Central Mutual Insurance Company by collecting rates for a 30-year-old man driving a 2015 Honda Civic EX. We checked how the cost of car insurance changed with a minimum and full coverage policy. We also checked how having a prior accident affected rates. Our quotes came from New York.

For our homeowners insurance rates, we collected rates for a home worth $314,500 that was built in 1961 — the median year built in the state of New York. The home was 2,100 square feet.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.

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.