Table of contents
How much is car insurance in Binghamton?
|Area||Average Monthly Car Insurance Premium|
Based on the above chart, auto insurance policies in Binghamton are about $114 a month cheaper than in the rest of New York.
On the flip side, Binghamton residents will likely pay higher rates to insure their vehicle than in the rest of the country. The cost of insuring a vehicle in Binghamton is about $4 more expensive than the average rate for the rest of the U.S.
Although these are the average rates for auto insurance in Binghamton, it's important to remember that you could end up paying something different. Insurance companies take in a variety of factors when determining how much to charge you for coverage. 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.
Don't sweat it however, we've broken down average rates for Binghamton 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|
It's pretty safe to assume that the older you are, the longer you've been driving. It also makes sense that the more experienced of a driver you are, the safer you are. In this case, 18-24-year-olds pay twice as much as 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 creep back up a bit in Binghamton.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less than male drivers for car insurance. In Binghamton, the difference comes out to about $7 per month. As illustrated in the table above, male drivers in the area pay about $87 on average, while female drivers pay around $80 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. Drivers with clean records will pay lower rates than those with accidents or violations. Drivers in Binghamton with a single accident will pay around $88 a month. On a similar note, drivers with one ticket on their record will be looking at a monthly rate of about $168 on average.
When it comes to your monthly bill, accidents, tickets, and other driving infractions can really take a toll. So, if cheap car insurance is something you're after, drive safely and keep a clean record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$47|
|15 Years or Older||$77|
As you can see in the first table above, the cheapest vehicles to insure in Binghamton are usually SUVs, which run about $78 per month.
Car owners can expect to pay an average of around $87 a month for their policy, while truck and van drivers are usually around $79 to insure each month.
In addition to vehicle type, you can also expect to see slightly different rates depending on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is close to 5 years old, you may start to see your monthly premium decrease. The most expensive vehicles to insure in Binghamton are vehicles eight-to-ten years old.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$84|
Despite married couples normally paying less than single drivers for auto insurance, the rates for both groups in Binghamton are on par with each other.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$144|
Your living situation is another component of how insurance companies calculate your monthly rate. Homeowners in Binghamton can expect to pay around $17 a month less than those who rent. But if you live with your parents, you can expect to pay a lot more.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your overall costs, depending on your insurance company.
Car Insurance Companies in Binghamton, NY
Recent trends in car insurance for Binghamton drivers
The average rates for car insurance are constantly changing, so it's a good idea to know the recent trends in your area when deciding when and where to shop.
Auto insurance rates in Binghamton decreased from 2016-2017, before steadying out in 2018. Rates began decreasing again in 2019, and finished up in 2021, at $100.
How does Binghamton compare to neighboring areas?
Why are car insurance rates in Binghamton different from other areas?
When considering how much to charge for coverage, car insurance companies will review several factors. Where you live will also have a significant impact on your personal policy. This may include things like:
- Total drivers
- Local crime rates
- Community laws
- Off-street parking access
- Road Safety (frequency of car accidents)
It's good to be aware of these factors (even though you may not be able to do much to influence them) as you shop for a new policy or consider relocating. 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 Binghamton?
In the end, the only way to know exactly what your rate will be is to request a quote from a car insurance company.
Fortunately, Compare.com does all of that work for you. Put in your ZIP below, answer a few questions about you and your car, and you'll be comparing the cheapest quotes from many of the car insurance companies offering coverage in Binghamton.
Binghamton Insurance FAQs
What factors affect car insurance quotes in Binghamton?
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 Binghamton different from other neighboring cities?
Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like parking situations, crime rates, and local laws when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Binghamton?
There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.
Do I need to change my insurance if I move to Binghamton?
Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good 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, you can switch companies at any point, no matter how much time is left on your current policy. If you're thinking about moving to Binghamton or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.