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How much is car insurance in Troy?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, you can see that auto insurance rates in Troy are in line with rates across the rest of Alabama.
That being said, car insurance rates in Troy are often favorable when viewed against the rest of the country. It's about $25 cheaper than the national average to insure your vehicle in Troy.
Although these are the average monthly costs for an auto insurance policy in Troy, that doesn't mean it's exactly what you'll pay. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay to get car insurance. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect the final amount you'll be charged for coverage each month.
But worry not, we've done the heavy lifting and broken down the average rate for Troy to help you understand what exactly you might be asked to pay. And if you're not sure that you're paying the lowest option, simply enter your ZIP Code below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
Generally speaking, the older you are, the more experience you have driving, right? When it comes to auto insurance premiums, that experience pays off. As you can see, 18-24-year-olds pay significantly more than someone who is retirement aged.
You can expect to see your monthly premium drop about once a decade or so. Once you hit retirement age, however, you may see your rates climb back up in Troy.
Average Car Insurance Rates by Gender
Female drivers pay, on average, slightly less than their male counterparts. While female drivers pay a bit less than male drivers on their monthly insurance rates, the difference in Troy is only about $3 per month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|Multiple Accidents||Not Enough Data|
Your rates can vary wildly depending on your driving record. Drivers with clean records will pay lower rates than those with accidents or violations. In Troy, having a single accident on your record will usually get you rates around $83 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $78.
Accidents, tickets, and other driving infractions can really add up when it comes to how much you pay. That's why it's important to drive safely and keep your record clean so you can keep your rates as low as possible.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||Not Enough Data|
|15 Years or Older||$46|
If you look at the first table above, you'll see that trucks and vans are by and large the cheapest vehicles to insure in Troy, with drivers paying around $44 per month for insurance coverage.
Car owners will see a monthly bill of about $57, while SUV owners usually pay around $53 a month.
Vehicle age has an impact on the cost of your policy as well. Newer vehicles are generally going to be the most expensive to insure. However, once your car is a few years old you may start to see your rates drop back down a bit. In Troy, the most expensive vehicles to insure are vehicles eight-to-ten years old and eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$59|
On average, married policyholders will pay slightly less to insure their vehicle. This occurs because insurance companies commonly extend special discounts to policyholders with multiple vehicles that are on the same policy.
On a national scale, married drivers typically pay less than single drivers for auto insurance. Troy is no exception, with the difference totaling to around $19 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$66|
One other element taken into consideration is your living accommodations. If you rent your home or apartment, expect to pay around $13 a month more than if you own your own home in Troy. Those who live with their parents, however, can expect to pay a lot more.
That being said, many companies will offer you a discount if you bundle your homeowners or rental insurance policy with your auto insurance.
Car Insurance Companies in Troy, AL
Recent trends in car insurance for Troy drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area before picking an insurance policy.
The rates for car insurance in Troy rose from 2016-2019, when they hit a high of $66. This changed in 2020, when rates started to turn downward. This pattern has continued through the present, where rates recently reached $47.
How does Troy compare to neighboring areas?
Why are car insurance rates in Troy different from other areas?
There are a lot of factors car insurance companies take into consideration when figuring out how much to charge for coverage. While we already talked about the ones that affect your personal policy, others are based around where you live and drive. These include things like:
- Amount of off-street parking
- Rate of crime
- Total amount of drivers in the area
- Number of car accidents
- Community laws
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Get started with a guide like this to get familiar with the average rates of your area.
How can I find the cheapest car insurance in Troy?
While getting familiar with what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But wait! Compare.com does all of that work for you. Simply enter your ZIP below, answer a few questions on you and your vehicle, and you'll be comparing the cheapest quotes from numerous car insurance companies providing auto coverage in Troy.
Troy Insurance FAQs
What factors affect car insurance quotes in Troy?
Car insurance companies calculate quotes based on a wide array of factors. These include things like your gender and age, but also factors like your vehicle's year, make and model, plus your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Troy different from other neighboring cities?
Crime rates, parking situations, and local laws -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Troy?
No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Troy?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
Not at all, in fact you can switch companies at any point, regardless of how much time is left on your current policy. If you're thinking about moving to Troy or haven't checked out the latest rates in your area for some time, it might be worth your while to take 10 minutes and see if Compare.com can save you any cash.