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How much is car insurance in Binghamton?
|Area||Average Monthly Car Insurance Premium|
The cost of coverage in Binghamton is about $114 a month cheaper than it is for the rest of New York.
The average cost of insuring your vehicle in Binghamton is above the national rate. The cost of insuring a vehicle in Binghamton is about $4 more expensive than the average rate for the rest of the U.S.
These may be the average auto insurance rates for Binghamton, but that doesn't mean it's exactly what you'll pay. There are a variety of factors that car insurance companies consider to determine how much to charge you to insure your vehicle. 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.
We've done the heavy lifting for you and broken down the average rate for Binghamton so that you can get a more accurate idea of what you might pay. To find out if you're getting the cheapest rate, 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|
It would make sense that older drivers have more driving experience, right? That experience can really work in your favor when factored into your car insurance rates. As you can see, 18-24-year-olds pay two times as much as someone who is retirement aged.
As you get older, you can expect to see a drop in your monthly premium every 10 years. You may see your rates begin to increase again once you hit retirement age in Binghamton.
Average Car Insurance Rates by Gender
In general, car insurance rates for women are usually cheaper than they are for men. In Binghamton, although women do pay a bit less on their monthly insurance rates, the cost is about the same for either group.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. A clean driving record will obviously get you a lower rate than one with accidents or infractions. In Binghamton, having a single accident on your record will usually get you rates around $88 a month. Likewise, drivers with one ticket will be looking at a rate of around $121 a month on average.
Wherever you live, accidents, tickets, and other driving infractions will almost certainly drive up your monthly bill. 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||$47|
|15 Years or Older||$77|
If you look at the first table above, you'll see that SUVs are typically the cheapest vehicles to insure in Binghamton, with drivers paying around $78 per month for insurance.
Truck and van drivers will see rates of about $80 for car insurance, while car owners usually pay around $89 per month.
In addition to vehicle type, you can also expect to see slightly different rates based on your vehicle's age. Generally, newer vehicles are going to be the most expensive to insure. However, if your car is around 5 years old, you can expect to see your rates start dropping back down. The most expensive vehicles to insure in Binghamton are vehicles eleven-to-fourteen years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$86|
Generally, people who are married will pay slightly less for car insurance coverage. This can usually be attributed to their policies having multiple vehicles, a factor that will often get you a discount.
As you can see in the table above, married couples pay about the same rate as single drivers in Binghamton.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$119|
Your living accommodations is another factor that affects your monthly rate. If you rent your home or apartment, expect to pay around $19 a month more than those who own their own home in Binghamton. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
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 car insurance costs.
Car Insurance Companies in Binghamton, NY
Recent trends in car insurance for Binghamton 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.
Car insurance rates in Binghamton went up from 2017-2018, before turning downward from 2019-2020. They finished down in 2022 at $73.
How does Binghamton compare to neighboring areas?
Why are car insurance rates in Binghamton different from other areas?
Car insurance companies will take into account many factors when figuring out how much to charge for a policy. Where you live will also have a significant impact on your personal policy. This may include things like:
- Community laws
- Amount of off-street parking
- Rate of car accidents
- Area crime rates
- Total number of drivers in the area
Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Binghamton?
Familiarizing yourself with patterns in the average costs of drivers like you will give you a leg up in conversations with insurance companies. Ultimately, the only way to know exactly what your rate will be is by requesting a quote from those car insurance companies.
Fortunately, Compare.com can handle all of this for you. Just type in your ZIP below, answer a few questions on you and your vehicle, and you'll be quickly comparing the cheapest quotes from a bulk of the car insurance companies providing auto coverage in Binghamton.
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Binghamton Insurance FAQs
What factors affect car insurance quotes in Binghamton?
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 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 Binghamton different from other neighboring cities?
Things like parking situations, local laws, and crime rates, 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 Binghamton?
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 Binghamton?
Whenever you relocate or experience another major life event, such as getting married or finding a new job, you should consider re-evaluating your current insurance policy. By using services like Compare.com to compare quotes from multiple companies at once, you can be sure to capture any new savings brought about by your new situation.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Binghamton or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.
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