NYCM insurance is a family-owned insurance company that was founded in 1899. The current management is the fourth generation of the Robinson family.
The headquarters are in Edmeston, New York. The company has two subsidiaries, Albert F. Stager, Inc, for claims adjusting, and A. Central Insurance Company. Employing around 800 workers, NY Central Mutual is one of the largest regional insurers in the US.
The company is also highly rated in the New York region, according to numerous NYCM insurance reviews, and that’s why we decided to provide a full review of its auto insurance services. It turns out New York Central Mutual has many things to offer but also a few substantial drawbacks. Read on to see if NY Central Mutual insurance is the right fit for you.
NYCM offers elite customer service, many discounts, and an excellent Advantage Repair Program. However, its insurance is quite expensive. But if you can stretch the budget, it’s worth a try.
- Excellent customer service scores
- An informative blog that helps you learn about insurance
- The Advantage Repair Program, which can be quite handy
- Many discounts
- Very expensive, even with discounts
- Low-quality mobile app
- Lack of variety in optional coverages
New York Central Mutual Insurance Product Overview
Signature Feature – Advantage Repair Program
The Advantage Repair Program is the biggest advantage of NY Central Mutual Car Insurance (pun intended). The company has over 100 high-quality repair shops that can help you in your time of need.
When you call NYCM after making a claim for an accident, you’ll go through the following process:
- First, a customer service representative will offer you a selection of shops to choose from.
- After you select one, the company will send all the necessary information to the shop. Your vehicle will be a top priority.
- After repairs, NYCM auto insurance will issue the payment directly to the shop, meaning you will pay only the deductible.
- You’ll receive a guarantee on the quality of the repairs for as long as you own or lease the vehicle.
Because NY Central Mutual is a smaller company, it can’t invest as much money in the same special features its bigger competitors can. Nonetheless, it still has a few tricks up its sleeve.
NYCM Insurance Review – Safety Tips
On the company’s website, you will find advice on which measures to take to prepare for each season. For instance, you can find information on how to get ready for floods and heat waves during the summer.
Teen Driving Guide
This is a page on the company website designed specifically for young customers. It contains many useful tips on how to drive more safely, as well as advice for adults on how to mentor younger drivers.
Automobile Payment Calculator: Auto Coverage Estimator
NYCM car insurance provides a financial calculator that you can use to plan a loan payment.
Given that NY Central Mutual is a regional insurer, we don’t have the same expectations on the overall “slickness” of its online offerings as we do for the major players like Geico and State Farm. Nonetheless, the online tools could still be better. The website is unremarkable but logically organized. It enables you to get an online quote and make an NYCM insurance payment.
However, the option of making a claim is not supported on the website. You can still file a claim using the company’s mobile app. It looks lovely, but it has low scores in both the App Store and Google Play. The chief complaints are that the app is unintuitive and unreliable.
If you have a problem with reporting a claim online, you can always dial the NYCM auto insurance phone number, which is 800-234-6926. The line operates 24/7. Just make sure to have all your documentation ready before you contact the insurer.
NYCM has a solid “A” (or “Excellent”) A. M. Best rating. Since the company is a regional insurer, this result is quite an achievement. NYCM even had an “A+,” but A. M. Best recently downgraded the rating. This should not be a sign of trouble since NYCM is still a financially stable company. No matter what, the average customer has nothing to worry about when the time to pay a claim comes.
NYCM Customer Service
According to leading rankings in customer satisfaction, the company excels in this category. After doing our research, we can only agree. Put simply, NYCM delivers an unparalleled quality of customer service in New York State.
To begin with, its NAIC ratio is 0.32, which is the lowest score out of all the leading New York insurance companies. The lower the score, the fewer complaints an insurer gets. Hence, why this NYCM insurance rating is a positive sign for the company.
J.D. Power Rankings
Furthermore, in J.D. Power’s 2021 regional rankings, NYCM has the highest overall customer satisfaction score out of all the insurers operating in the New York region. The more prominent companies like MetLife, Allstate, Geico, and State Farm all rank below it. Only USAA has a better score, but it’s only available to the military.
The BBB and Customer Reviews
On top of that, NYCM Insurance holds an “A+” rating on its Better Business Bureau company page < https://www.bbb.org/us/ny/edmeston/profile/insurance-companies/nycm-insurance-0041-42000486 >. These are all indicators that New York Central Mutual cares about the satisfaction of its customers.
We should mention that much like all the insurance companies we’ve reviewed, there’s a significant amount of backlash against NYCM on websites like Yelp and US Insurance Agents. Generally speaking, shoppers are more likely to leave an online review if their experience was overwhelmingly negative. And this is why we take these NYCM auto insurance reviews and comments with a grain of salt.
Types of Insurance Available
You can purchase all the standard types of car insurance available in New York through NYCM. These include liability, PIP, MedPay, statutory uninsured motorist coverage, collision, and comprehensive coverage.
When it comes to optional overage, expect only a rudimentary selection:
Optional Basic Economic Loss (OBEL)
If you were injured in a no-fault accident, you could receive a loss of income NYCM payment. The standard maximum amount is $2,000 per month for 36 months.
However, the total maximum payment is $50,000, which can be spent before the 36 months pass. This is where OBEL comes to the rescue. It provides additional money on top of the $50,000 limit.
Supplementary Uninsured Motorist
The mandatory uninsured motorist coverage in New York, with a $25,000 limit per person and a $50,000 limit per accident, is only valid within the state. To expand on this, you can buy supplementary uninsured motorist coverage from NY Mutual car insurance. It has the same limits, but it’s valid outside the state of New York too.
Automated Rental Management System
If you need a rental car after yours was damaged, you can count on NYCM to provide one. The company has a partnership with two major rental companies, Hertz and Enterprise. This means that NYCM will take care of billing directly instead of reimbursing you after you’ve paid out of your pocket. To see the details on rental reimbursement programs, it’s best to call the phone number at 800-234-6926.
NYCM Roadside Assistance
NYCM offers three kinds of roadside assistance coverage: Basic ($7 annually), Choice ($10 annually), and Choice Plus ($15 annually). They carry different limits, but they all provide flat tire change, battery jump-start, emergency fuel and fluid delivery, and locksmith services.
Choice adds roadside winching, while Choice Plus also provides 2 gallons of fuel/fluids at no extra cost. Not many companies offer roadside assistance coverage as complete as Choice Plus.
NYCM Auto Insurance Discounts
The way that NYCM presents the discounts on its website is every reviewer’s and customer’s dream. Each premium reduction is shown in a precise manner, meaning buyers will know exactly how much they’re paying.
We can only join in praising this practice. Here are all the discounts available:
Electronic Funds (Auto-Pay)
If you set up an automatic car insurance payment, you may receive up to a 2.5% discount.
Young Driver Training
This discount is available for customers under 21 who provide a certificate of a completed driver education course. For a 17-year-old, the NYCM bill pay discount is 10%, for an 18-year-old, it’s 8%, while for a 20-year-old, it’s 6%.
Student Away at School
This is a smart way for younger drivers to save. The discount of up to 25% is available if a student listed on the policy is attending a school more than 100 miles from the place where the vehicle is garaged.
Please note that NYCM auto insurance reviews whether the student is unmarried and younger than 25 before granting the discount.
Accident Prevention Course / Defensive Driving
By completing a certified accident prevention or defensive driving course, you can save up to 10%.
Various safety systems can help you get a discount. These are among the easiest premium reductions to get, so don’t hesitate to mention them when you’re getting your NYCM insurance quote.
The discounts are as follows:
- Airbag / Automatic Seat Belt – Up to 30% discount on MedPay and PIP coverages
- Antilock Braking System – Up to 7% reduction on collision coverage
- Daytime Running Lamps – Up to 3% discount on collision coverage
- Alarm System and Other Anti-theft Devices – Up to 25% discount on comprehensive insurance
You can receive a discount if you buy multiple policies from NYCM auto insurance together with its auto insurance.
The discounts are as follows:
- Tenant Policy – 7.5%
- Homeowner Policy – 15%
- Tenant with Umbrella Policy – 10%
- Homeowner with Umbrella Policy – 20%
- Homeownership Discount – 2.5% (Granted to customers who own a home or condo that isn’t insured with NYCM).
Owners of newer vehicles can get as much as a 30% discount on the collision portion of their premium.
As NYCM insurance reviews note, this is an amazing opportunity to save if you have some money set aside. By paying the entire premium before the first effective date of the policy, you can save up to 10%.
A policyholder who is 65 or older and has been with NYCM for more than five years without making a claim will get a 5% discount.
Good Student Discount
A full-time high school, college, or university student who’s 16 to 24 years old can get a 10% discount on their car insurance. To get the premium reduction, they must maintain a GPA of 3.0 (B) or higher. They also need to provide NYCM car insurance with a copy of their most recent academic transcript on each renewal date of the policy.
Injury Protection Discount Program
By getting high limits on the coverages that pay medical expenses, you can get up to a 10% discount.
If you’ve been without a claim for five consecutive years, you can get a 2.5% discount.
If you’ve been claims-free for five years, NYCM will decrease your collision deductible by $100 each year. $500 is the maximum obtainable reduction.
New York Central Mutual insurance offers several types of accident forgiveness coverage depending on how many policies you have with the company. Whichever option you qualify for, you can expect that your first at-fault rate won’t increase your premium.
If you enroll in this program, NYCM will install a device in your vehicle that measures your driving habits. It tracks how fast you drive, where you drive, your acceleration and braking, and how often you use your vehicle. You’ll receive an initial discount just by participating in the program. After that, the safer you drive, the greater your discount.
About Insurance Rates
To verify the rates that the company offers, we got an NYCM auto insurance quote with full coverage limits. Our reference location was New York City. We found that NYCM is among the most expensive companies in New York.
None of the possible discounts applied, meaning the premiums could be 20–40% lower when you finally sign-up for a policy. Nonetheless, even with a premium reduction, NYCM is still among the priciest options.
This isn’t a surprise since regional insurers often can’t compete with big players in terms of affordability. Despite the high premiums, we would still urge customers to give NYCM a chance. The company has excellent customer service scores, and you may get substantially lower prices.
NYCM Car Insurance Review vs Top Competitors
GEICO vs. New York Central Mutual
This looks like a typical comparison between a big enterprise and a regional insurer. Geico has a better website and mobile app, and it offers considerably more optional coverages. On top of that, it has superior financial strength, and it charges substantially less for an auto insurance policy. For these reasons, we ranked it as the second-best car insurance company in our New York guide.
One thing that Geico cannot match is the quality of NYCM’s customer service. While NYCM insurance holds the full five stars in J.D. Power’s rankings, Geico has only three.
Nonetheless, we think Geico is a better choice for the majority of drivers. Select NYCM only if you’re willing to pay considerably more for a superior customer service experience.
New York Central Mutual vs. Travelers
Like Geico, Travelers is also a more affordable option than NYCM, especially for younger and middle-aged drivers. It’s also a financially stronger company, and it has a more polished website and a more extensive network of agents. In terms of discounts and optional coverages, neither of these insurers excels.
However, nobody can beat NYCM insurance in the customer satisfaction department. But Travelers at least comes close by occupying fourth place in J.D. Power’s regional study.
We would suggest you get quotes from both companies, but in the end, we pick Travelers due to its lower prices. However, older drivers should prioritize NYCM since its rates are relatively close, and the company outperforms Travelers in customer service by a significant margin.
New York Central Mutual vs. Progressive
Most of the same elements in the Geico comparison apply here too. Progressive is a dirt-cheap insurer with excellent financial strength, many discounts and optional coverages, and cutting-edge online tools.
It’s absolutely inferior in customer service compared to New York Central Mutual car insurance, but it’s better in every other aspect. Unless customer satisfaction is your number-one priority, we would lean toward Progressive.
Erie is the premier alternative to NYCM. While it doesn’t appear in J.D. Power’s rankings in the New York region, it’s the overall winner on the national level in both claims handling and shopping satisfaction.
Furthermore, Erie is a cheaper alternative to NYCM. Actually, it’s so good, we ranked it among the top three best car insurance companies we reviewed. Another insurer that gets high scores in the customer satisfaction category is MetLife.
However, it’s even more expensive than NY Mutual car insurance, meaning you’ll need to qualify for some significant discounts. The good news is, we found in our MetLife review that the company offers 50% lower premiums for employees of MetLife-associated companies, meaning it can be a terrific option for those customers.
And if you’re looking for the most affordable premiums, Geico, Travelers, and Progressive should be near the top of your shortlist. Nevertheless, be prepared to put up with lower-grade customer service if you choose these companies in New York.
NYCM Auto Insurance Reviews – Our Expert Verdict
The main selling points of NYCM car insurance are its elite customer service ratings. You can add its many discounts and Advantage Repair Program among its plus points too.
The smaller chunks in its armor are a low number of optional coverages and average online tools. In the end, the biggest drawback of buying insurance from this company, as many NYCM insurance reviews portray, is the high premium prices. The company is the second most expensive option in our New York car insurance rate comparison. That’s why we can’t fully endorse it.
Still, choosing any car insurance company requires a compromise. If you’re willing to accept the one that NYCM brings – paying more for higher-quality customer service – you may become one delighted driver.
People Also Ask
Yes, NYCM is a good insurance company, and according to many independent auditors, one of the best in the New York area. Even though it is a local insurer, it still has an “A+” Superior rating. It has one of the best-rated insurance companies when it comes to customer services and three times fewer complaints than average for a company of its size.
NYCM stands for New York Central Mutual Fire Insurance Company. It was founded in 1899 under that name and hasn’t changed since.
NYMC has two subsidiaries, Albert F. Stager, Inc., an adjusting firm, and A. Central Insurance Company. The company offers insurance in New York.
Yes, your New York Central Mutual regular auto insurance applies to rental cars too. But there is a catch – it covers only the price of your insured car.
If the vehicle you’ve rented is more expensive than your car, you should buy higher limit insurance from the rental company. Fortunately, even If that’s the case, it won’t cost you much.
The process is a bit more complicated than in companies that are fully online. You will have to go in person to the nearest agent, send an email to the NYCM, or call its support at 800-234-6926.
You need to sign a Lost Policy Release (LPR) paper to complete the cancelation. Having to deal with customer support may seem a bit old-school and redundant, but the company has excellent ratings when customer care is concerned, and it should probably run smoothly.
No, there are no special requirements needed for buying car insurance from NYCM. There are some companies, like USAA, for instance, that are available only to active or former military members and their families, but NYCM Is open to everyone.
However, the company does require you to satisfy certain conditions to be eligible for their discounts (driving record and habits, age, insurance bundling, etc.)
NYCM is very highly rated. The NAIC complaint rate is 0.32 (the national average is 1). in its 2020 report, J.D.Power gave NYCM 837/1000 for overall customer satisfaction, which places it in third place in the New York area.
Furthermore, the company has an “A+” rating with Better Business Bureau. All these high ratings clearly say that this is a good insurance company.
NYCM offers all the standard types of car insurance in New York. These are liability, collision, PIP, MedPay, statutory uninsured motorist coverage, and comprehensive coverage. These are sufficient for most motorists.
But if you want more options, NYCM has a limited offer compared to its competitors. Even though this is a shortcoming, it’s still overshadowed by the company’s excellent customer service and satisfaction rates.
We can only confirm what many NYCM insurance reviews left by satisfied clients said – it’s good car insurance.