Table of contents
How much is car insurance in Albany?
|Area||Average Monthly Car Insurance Premium|
Based on the chart above, you can see that it's about $105 a month cheaper to insure your vehicle in Albany than it is in the rest of New York.
That being said Albany residents should prepare to pay higher rates for coverage than the rest of the country. It's about $13 more expensive for coverage in Albany than the average rates for the U.S. as a whole.
While these are the average monthly costs for auto insurance coverage in Albany, you could end up paying something different. There are a variety of factors that car insurance companies assess when determining how much to charge you to get your vehicle insured. Age, gender, vehicle make and model, driving record, and in some cases, your credit score, are all taken into consideration when calculating the final dollar amount you'll be asked to pay each month.
But don't worry, we've broken down the average rate for Albany residents based on several different factors so that you can get a more accurate idea of your policy's monthly premium. And if you're not sure if you're getting the cheapest rate for your area, 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, the older you are, the more experienced you are on the roads. 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.
As you get older, you can expect to see a drop in your monthly premium every 10 years. As you get closer to retirement age, however, you may see your rates begin to go back up in Albany.
Average Car Insurance Rates by Gender
Despite the national trend of women paying less than men to insure their car, in Albany men actually pay $91 per month for coverage while women pay $96.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Depending on your driving record, your rates can vary wildly. Those with clean records will obviously pay much less than those with infractions. In Albany, a driving record with a single accident will usually get you a rate around $97 a month. In addition, drivers with a single ticket on their record can expect to pay around $79 a month on average.
Accidents, tickets, and other driving infractions can really hurt your wallet. In order to keep your monthly bill down and get the cheapest car insurance possible, keep your record clean and drive safely.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$82|
|15 Years or Older||$91|
If you look at the first table above, you'll see that SUVs are typically the cheapest vehicles to insure in Albany, with drivers paying around $84 per month for auto insurance coverage.
Car owners will see rates of about $96, while truck and van owners usually pay around $92 per month.
You may also see different rates based on your vehicle's age. Generally, newer vehicles are going to be the most expensive to insure. Once your car is a few years old however, your rates may start to dip back down a bit. In Albany, the most expensive vehicles to insure are vehicles six-to-seven years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$95|
More often than not, 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 that will often get you a discount.
On a national scale, single drivers typically pay more than married couples do for auto insurance. Albany 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||$97|
Another factor taken into consideration is your housing status. Renters can expect to pay around $26 a month more than drivers who own property in Albany. But if you live with your parents, you can expect to pay a lot more.
That said, if you bundle your homeowners or rental insurance policy with your auto insurance, many companies will offer you a discount to make up for it and reduce your overall costs.
Car Insurance Companies in Albany, NY
Recent trends in car insurance for Albany drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before choosing where to shop.
In Albany, the rates for auto insurance have been mixed over the past few years. They rose in 2016, fell in 2018, and increased again in 2020, before finishing at $103 in 2021.
How does Albany compare to neighboring areas?
Why are car insurance rates in Albany different from other areas?
Car insurance companies take in several factors when figuring out how much individual insurance policies will cost. Where you live will also have a significant impact on your personal policy. This may include things like:
- Off-street parking accessibility
- Road safety
- Community laws
- Number of drivers
- Local crime rates
A decent level of familiarity with these factors can be helpful when you're ready to purchase of a new policy or thinking about making a move. Each area will have different rates. Guides like these are a wonderful place to get started.
How can I find the cheapest car insurance in Albany?
While knowing 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.
Don't worry, Compare.com does all of that work for you. Just type in your ZIP below, answer a few questions, and you'll be comparing the cheapest quotes from loads of the car insurance companies that offer auto coverage in Albany.
Albany Insurance FAQs
What factors affect car insurance quotes in Albany?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your gender and age, as well as your address, credit score, driving record, and marital status.
Why is the cost of car insurance in Albany different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like local laws, crime rates, and parking situations -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Albany?
There isn't one company that will offer the cheapest rate to everybody. What companies will charge you are based on many different factors that vary from person to person, such as your driving record, what kind of car you drive, how many drivers will be on your policy, and a number of other factors. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once. That way, you can be confident you're getting the best price.
Do I need to change my insurance if I move to Albany?
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?
No. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Albany or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?