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How much is car insurance in New Albany?
|Area||Average Monthly Car Insurance Premium|
As you can see, car insurance policies across the rest of Indiana are about $6 a month cheaper than the rates drivers pay in New Albany.
On the other hand, car insurance rates in New Albany are more affordable than the national average. The average monthly payment for the United States as a whole is about $25 more expensive than in New Albany.
While these numbers are the average rates for auto insurance in New Albany, that doesn't mean it's what you'll pay. The amount that insurance companies end up charging you is determined by a number of factors. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in the final dollar amount you'll be asked to pay each month.
Don't sweat it however, we've broken down average rates for New Albany residents so that you can get a more accurate idea of what you might pay. To find out if you're overpaying for your area, just enter your ZIP Code below and find out in minutes!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
The older you are, the more experience you're likely to have behind the wheel, right? When it comes to car insurance premiums, that experience can really pay off. As you can see, 18-24-year-olds pay two times the price that drivers 65 and older.
For every ten years older you get, you can expect to see a drop in your monthly premium. Once you hit retirement age, however, your rates may rise again in New Albany.
Average Car Insurance Rates by Gender
Car insurance rates for women are generally cheaper than they are for men. In New Albany, however, the difference in monthly rates for car insurance is minimal.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your driving record can have a tremendous impact on your car insurance rates. Those with fewer accidents and tickets will pay a lot less than those with multiple infractions. In New Albany, having a single accident on your record will usually get you rates around $79 a month. In addition, drivers with one ticket can expect to pay around $71 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$99|
|15 Years or Older||$52|
The most affordable vehicles to insure in New Albany are typically trucks and vans, which run about $47 per month.
SUV drivers will see rates of about $50, while the rates for car owners average out to about $63 per month.
Vehicle age also plays a role in your monthly payment. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is a few years old, you may start to see your monthly premium drop back down. In New Albany, the most expensive vehicles to insure are vehicles less than one year old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$59|
Generally, those who have settled down into marriage will pay slightly less for insurance coverage. This usually boils down to owners having multiple vehicles on the same policy, something some companies will reward with discounts.
At a national level, single drivers usually pay more than married couples do for auto insurance. New Albany follows that pattern, with the difference totaling to around $9 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$76|
Another factor that comes into play is your housing status. If you rent your home or apartment, expect to pay around $8 a month more than drivers who own property in New Albany. Those who live with their parents, however, can expect to pay a lot more.
If you bundle your home or rental insurance and auto insurance policies, you can oftentimes reduce your car insurance premiums, depending on your insurance company.
Car Insurance Companies in New Albany, IN
Recent trends in car insurance for New Albany drivers
Average rates are constantly changing, so it's a good idea to know the direction your area is trending when choosing when and where to shop.
The rates for auto insurance in New Albany increased from 2017-2018, when they hit a high of $68. This changed in 2019, when they began to turn downward again. They finished up in 2022, at $58 a month
How does New Albany compare to neighboring areas?
Why are car insurance rates in New Albany different from other areas?
There are numerous factors car insurance companies will consider when figuring out how much to charge for a monthly rate. While we already mentioned the ones that affect your personal policy, others are influenced by your home address. These include things like:
- Local regulations
- Off-street parking access
- Road Safety (frequency of local car accidents)
- Total drivers
- Local crime rates
While you won't have the ability to change these factors yourself, they can be handy to keep in mind when seeking a new policy or considering a move. Knowing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.
How can I find the cheapest car insurance in New Albany?
In the end, the only way to know exactly what your rate will be is to request a quote from a car insurance company.
Good news! Compare.com does all of that work for you. Simply enter your ZIP below, answer a few questions, and you'll be comparing the cheapest quotes from a number of the car insurance companies offering auto coverage in New Albany.
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New Albany Insurance FAQs
What factors affect car insurance quotes in New Albany?
Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your gender and age but also factors like your driving record, credit score, address and marital status, as well as your vehicle's year and make and model.
Why is the cost of car insurance in New Albany different from other neighboring cities?
Things like crime rates, parking situations, and local laws, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in New Albany?
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 New Albany?
Any major life event, whether it be moving to a new area, finding a new job, getting married, or any other notable event always presents a good opportunity to re-evaluate your current insurance policy. Regardless of your previous rate, there may be cheaper options in your new location, so it's a good 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 New Albany 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.
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